Minerales VANE SA de CV, Mexico

Operations, during the first half of 2008, at the Diablito Mine at Las Lumbres and at the successfully commissioned SDA mill at San Dieguito de Arriba have been running smoothly. A 20-hole drilling program designed to upgrade the 2006 resource estimate is now complete and the Company is awaiting assay results. Upon receipt and interpretation of complete assay results, a new resource estimate will be produced.

Drilling of 6 holes at the Bonanza gold-silver prospect, located 30km SE of the SDA mill, has been completed with assay results pending.

Paraguay

Due to the lack of drill availability in Paraguay, drilling on the six gold-silver-copper anomalies delineated by VANE is now scheduled to begin in late July or early August.

Porphyry Copper, USA

Porphyry copper exploration in the southwest USA continues with several targets being identified. Two prospects were drilled in the 1st half of 2008, with follow-up drilling warranted on one of the targets. Land positions are being solidified on the other identified targets and drilling is scheduled for the 2nd half of 2008.

Steve Van Nort, CEO, commented: 'We are well funded and have a number of drilling programs planned over the coming months within the uranium portfolio and outside. As an exploration company, this is the main driver of the business and although our share price has been affected by the market conditions, we continue to get on with the business in hand.’ – Press Release