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Sharecast : 25-April-2006

Vane extends Freeport database deal

LONDON (SHARECAST) - Vane Minerals extended its recent rally after announcing a further extension of its exclusive agreement to access Freeport McMoRan Copper and Gold's exploration database to June 2007.

Under the terms of the agreement, originally signed on 1 October 2002, Vane has exclusive access to Freeport's global exploration database, excluding Indonesia, containing more than 7,000 files dating back to 1907.

The Freeport files have been preliminarily examined and several potential prospects are currently under evaluation, said Vane.

"The opportunities arise where targets become viable by application of new metallurgy, advances in geological concepts, changes in metal prices or other technological advances."

"The files are also an important reference tool in evaluating opportunities brought to Vane as potential targets," it said.

"The database provides invaluable additional information on local geology, prospectivity and historical work undertaken on projects located within relevant geographical regions."