Uranium Update

Vane Minerals PLC
04 December 2006

                          VANE Minerals Plc (AIM: VML)

             Further Expansion and Development of Uranium Portfolio

Highlights:

•         Acquisition of 7 new breccia pipe targets in northern Arizona
•         Uranium mineralisation exposed at surface at 8 targets
•         Approvals received to drill 25 exploration holes at Happy Jack Mine
•         Contract agreed for drilling services at Red Dike and Miller
          properties
•         Permitting process continues for drilling on additional breccia pipe
          targets
•         Identification of acquisition targets continues - negotiations at an
          advanced stage on further properties

VANE Minerals Plc is pleased to announce that its wholly owned uranium
subsidiary, VANE Minerals (US) LLC 'VANE (US)', has successfully staked a
further 18 unpatented US lode mining claims in 4 blocks covering 7 separate
targets in the breccia pipe district of northern Arizona.  This brings the total
number of breccia pipe targets in the VANE portfolio to 29.

Ongoing exploration of the portfolio by VANE (US) has found uranium
mineralisation exposed at surface on 8 targets.  This is consistent with the
surface exposure of some ore-bearing pipes and is extremely encouraging. Targets
that do not exhibit uranium at surface will be investigated further at depth, as
several historic economic breccia pipes in the district did not exhibit surface
uranium.

VANE (US) has agreed on a contract with a drilling contractor and expects,
weather permitting, to commence drilling imminently on the Red Dike and Miller
pipes (as announced on November 21).  The drilling permitting process is
continuing on 9 additional breccia pipe targets. Two (2) further permit
applications on the Big Red pipe and Rabbit target have been submitted to bring
the total number of proposed new drilling projects to 11.  Additional permit
applications will be submitted on additional breccia pipe targets in due course.

In Utah, VANE (US) has received approval from relevant government agencies,
pending posting of the reclamation bond (US$10,300), to drill 25 step-out and
exploration holes on the Happy Jack Mine in Q2 2007.  As previously announced,
drilling on the North Wash project is still anticipated to commence later this
month, weather permitting.

In addition, VANE (US) continues to identify acquisition opportunities and is in
the advanced stages of negotiation on projects in Arizona and Utah.

Michael Spriggs, Chairman of VANE, commented: 'Our portfolio continues to grow,
serving to establish further VANE's position in arguably one of the world's
prime areas of uranium mineralisation. We are especially pleased to have such a
large holding of breccia pipe targets as historically breccia pipes in this
district, consistently contained high grades of uranium. We are keen to commence
drilling as soon as possible to confirm the potential of these properties.'

Kristopher K. Hefton, Chief Operating Officer VANE Minerals (US) LLC, BSc
Geology, who meets the criteria of a qualified person under the AIM rule
guidance for mining, oil and gas companies, has reviewed and approved the
technical information contained within this announcement.

About VANE Minerals:

VANE Minerals was founded by the former international exploration team of
Freeport McMoRan Copper & Gold Inc., one of the world's largest producers of
copper and gold. The Company has assembled a highly qualified and experienced
management team with a proven track record in exploration and development, who
have spent their entire careers searching for and defining large scale mineral
deposits.

The Company is using the silver/gold production at the Diablito mine in Mexico
to help fund exploration work across its attractive portfolio.

Since December 2004, VANE has built up a substantial uranium portfolio of
properties in the US, initially targeting the Arizona strip which holds the
highest grade deposits in the US, contained in breccia pipes.

For further information, please review: www.vaneminerals.com.

Enquiries:

VANE Minerals Plc                                    Ambrian Partners Limited
Matthew Idiens                                       Richard Brown
[phone]                                 [phone]

Parkgreen Communications                             Daniel Stewart & Co
Cathy Malins / Annabel Leather                       Dan Willmott
[phone]                                 [phone]




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