Press Release

17-November-2004

Vane announces its interim results to September 2004.

Highlights are:-

Listed on AIM in June 2004 raising £3.288m
At the reporting end, group has cash balances of £2.64m
All work programmes are on schedule and under budget
Completed 38-hole drilling programme on Diablito gold-silver prospect in Mexico. First production planned for Q1 2005
Follow-up exploration work at prospective Guadalcazar gold prospect in Mexico significantly progressed
Drilling on Guadalcazar scheduled to commence early in 2005
Option acquired on the Mina Charay gold-silver prospect in Mexico