Company Information for Vane Minerals Group

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Company Statement

VANE Minerals (VANE) is an AIM listed uranium mineral exploration and development company with a strong focus on North America. The Company has a strong portfolio of projects and was initially self-financed by production from the Silver/Gold Diablito Mine in Western Mexico, from which a cash flow continues.

VANE has built a substantial uranium portfolio in the US which, at present, is the main driver for the Company, offering considerable upside in these strong markets.  VANE now has projects in Mexico, Paraguay and the US, incorporating exposure to uranium, gold, silver and copper.

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 such as Mount Keith, Santa Cruz and Escondida.
The company has a 50/50 Joint Venture Agreement with Uranium One “U1” on its South Rim Breccia Pipe projects, breccia pipe deposits being some of the highest grade uranium deposits in the US, with VANE covering the Exploration and U1 covering Development, Mining and Milling.

The Company's principal objective is to utilise the funds generated from the Diablito project, by exploring undervalued and under-explored projects, create value in those projects and realise that value through exploitation or disposal to third parties.

Current Operations

Properties VANE Minerals (US) LLC's Uranium Prospects
Uranium Prospects

• North Alice Extension
• North Wash
• North La Sal
• Abajo Basin Project
• Happy Jack Mine

So far, 72 projects have been acquired/ claimed in the breccia pipe district of northern Arizona, outside the Grand Canyon National Park. 68 of those are part of the U1 JV project.

In southeastern Utah, the Company has also acquired the Happy Jack Mine and the North Wash property having combined existing drill indicated resources of 320,000 pounds of uranium oxide (U3O8). The Happy Jack Mine offers near-term production potential.

The company has also acquired the North Alice Extension, adjoining the North Alice Mine which was mined by Homestake.

The North La Sal and Pine ridge properties, both on the prolific La Sal channel, the Pine claims are located one mile to the east of the Panadora Mine, owned by Denison Mines, along the channel.

More recently the company added the Abajo property to the portfolio, this is in excess of 7000 acres, situated on the south west trend of the Uravan Mineral Belt a prolific uranium/vanadium producing trend.

Breccia pipes are the highest-grade deposit type in the US with average grades of around 1% U3O8 and have been known to contain from 1 million to more than 5 million pounds of U3O8, with the average pipe containing 3.4 million pounds U3O8,

Of the 72 pipe properties held, 10 are confirmed pipes with one containing a drill intercept with up to 1.78% equivalent U3O8 . Several of the remaining 62 properties have been explored and are believed to hold breccia pipes, while others that have not been drilled exhibit surface features similar to breccia pipes that have been mined or are known to contain uranium resources. Many of the targets prior to drilling have shown uranium mineralisation at surface, which is extremely encouraging.

In addition to our aggressive programme of property acquisition, work is in progress to utilise remote sensing to define targets in areas not previously considered conducive to the recognition of pipe structures and to develop geochemical techniques to recognise mineralised breccia pipes.

Update
VANE announced on the 9th September 2008, the Joint Venture agreement with Uranium One on the South Rim Breccia Pipe projects.

Diablito
The Diablito project is an operating mine; production commenced in Q3 2005, producing 1,500 tonnes per month of high grade Ag/Au Ore from a massive epithermal quartz vein containing economic values of silver and gold together with sub-economic values of copper, lead, and zinc located in west-central Mexico.

Minerales VANE S.A. de C.V. (VANE) has completed 3 rounds of drilling so far, with a total of 62 holes drilled to date. The last round of drilling was completed in August 2006, the results of which were announced on 4th September 2006. The data has been compiled by Independent Mining Consultants Inc. (IMC) of Tucson, Arizona and an updated resource estimate was announced on the 17th November 2006.

Existing Resource
As of the 1st August 2006, the JORC compliant resource has increased by approximately 52% net of production to 141,277 tonnes containing 6.07 g/t gold (Au) and 684 g/t silver (Ag)

Update
Following the positive results of the latest round of drilling VANE has built its own crushing plant & floating Mill close to the mine site with a 100 tpd capacity.

Paraguay Exploration Project
VANE's geologists have completed the stream sediment and soil sampling programmes with positive results. Assays for over 2,700 samples have been received and the results have been encouraging. Targets have now been identified and infill sampling of those targets has also been completed. Drill targets have now been identified and VANE has converted the relevant areas into exploration licenses, allowing drilling which expected to commence in H2 2008.

Geographical Spread

Southwest USA, Central Western Mexico, Eastern Paraguay

Board of Directors and Key Management

Steven Van Nort	CEO
Kristopher Hefton	Director
Matthew C Idiens	Commercial Director
L Clark Arnold	Director of Geology
Ian H McNeill	Finance Manager
Robert P Jeffcock	Non-Executive Director
David Ingmire	Non-Executive Director
Luis Francisco Perez Agosttini	Director, Minerale
Alan Edwards	Partner
Frank J Nelson	Partner

Company Address 18b Charles Street Mayfair London, United Kingdom W1J 5DU Telephone: +44 (0) 20 7667 6322 Facsimile: +44 (0) 870 460 4162 Email: admin[at]vaneminerals.com Website: http://www.vaneminerals.com

Additional Address/Key Contact US Office: AVEN Associates LLC 7400 North Oracle Road #131 Tucson AZ 85704 USA Mexico: Humboldt No. 121, Colonia del Valle, San Lus Potosí, CP 78200 Mexico

Capital Number of shares in issue: 190,108,108

Annual General Meeting June

Year End 31 December

Nominated Brokers Thomas Weisel and Partners and Ambrian Partners Ltd

Nominated Advisors Ambrian Partners Ltd 2nd Floor 8 Angel Court London EC2R 7HP

Major Shareholders

Steve Van Nort	CEO	6,500,000
Matthew Idiens	Director	2,055,880
L Clark Arnold	Director	10,500,000
Robert Jeffcock	Director	5,909,397
David R B Ingmire	Director	25,000
Commerzbank	13,636,364
Frank Nelson	12,500,000
Alan F Edwards	11,042,000
Roy Williams	12,515,050
Richard Harris	10,304,640

Related News

10/09/08 - VANE Minerals Rides Back Into Town With Uranium One As Its New Partner
25/10/07 - VANE Sees Gold In Its Brecciated Uranium Portfolio
31/01/07 - VANE Minerals Funds Uranium Exploration From Gold Production

Most Recent Statement

22/09/08 - Heads of Agreement
10/09/08 - Interim Results for the six months ended 30 June 2008
09/09/08 - Uranium One/VANE Minerals Joint Venture Agreement in Northern Arizona
15/07/08 - Operational Update
15/07/08 - Operational Update
21/04/08 - Annual Report and Accounts