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An aggressive exploration company focused on the acquisition of and exploration for gold in Northeastern Ontario, Canada.

Message: Vault intersects 27.8 gAu/t over 1.4m and 8.8 gAu/t over 1.75m at Blue Vein

Vault intersects 27.8 gAu/t over 1.4m and 8.8 gAu/t over 1.75m at Blue Vein

posted on Mar 04, 2010 09:05PM

Vault Intersects 27.8 gAu/t over 1.4 m and 8.8 gAu/t over 1.75 m at Blue Vein

("Vault" or the "Company") is pleased to announce the completion of 20 shallow
diamond drill holes on the Blue Vein as part of Phase I drilling on its
100%-owned Lebel property. Results have now been received for the first seven
drill holes. Intercept highlights to date include 27.8 gAu/t over 1.4 m
(including 50.8 gAu/t over 0.65 m) approximately 32 m below surface (BV10-04)
and 8.8 gAu/t over 1.75 m approximately 12 m below surface (BV10-07).
	    The Blue Vein represents the second of four areas being tested during
Phase I drilling on Vault's 3,100-acre Lebel property situated in Kirkland
Lake, Ontario. The Blue Vein consists of sub-parallel mineralized structures
located 700 m south of the past-producing Bidgood Mine that historically
produced 165,000 oz gold at a recovered grade of 9.2 gAu/t (0.27 ozAu/t).
These structures extend at least 800 m on surface along strike with limited
historical trenching or drilling having been carried out. Recent exploration
work has been confined primarily to the northeast and southwest ends of the
	    Most drill holes were designed on approximately 8 to 15 m centres to
assist in defining a resource in areas where previously-reported trench
channel samples returned up to 95.1 gAu/t over 2.7 m and 73.0 gAu/t over 1.0
m. Previous drilling in 2003-4 returned intersections of 11.6 gAu/t over 2.8
m, 30.8 gAu/t over 1.3 m and 18.8 gAu/t over 0.9 m to a vertical depth of 80
	    Mineralization generally consists of 3-20% coarse disseminated pyrite
hosted within and on margins of 0.2 to 0.6 m dark blue quartz veining along
heavily oxidized fault structures in altered porphyry and sediments. This
mineralization is characteristic of that mined at the Bidgood Mine, while
numerous fault splays provide conduits for yet broader mineralization.
	    Since the start of Phase I drilling in early December 2009, a total of 47
drill holes representing 3,705 m have been cored in the Boundary, Blue Vein,
Contact and Bidgood Break West areas. Assays are pending for the remaining
Blue Vein holes and as well for Contact and Bidgood Break West drill holes.
	    The Phase I drill program has been expanded to accommodate outboard
drilling, proximal extensions (all directions) and in-fill drilling of the
Boundary zone. Drilling will particularly concentrate in the vicinity of
recent intercepts, as reported on January 5 and January 20, 2010, that
returned 5.3 gAu/t over 5.75 m (or 3.4 gAu/t over 11.35m) and 15.9 gAu/t over
1.0 m (or 5.5 gAu/t over 3.5m or 1.7 gAu/t over 14.5 m). Following the
completion of Phase I drilling, Phase II will commence in the immediate
vicinity of the Bidgood mine.

	    Deep Geophysical Surveys on Gauthier and Lebel Properties

	    Concurrent with Phase I drilling, two separate deep-penetrating Induced
Polarization/Resistivity (IP) geophysical surveys have been undertaken this
winter on the Gauthier and Lebel properties. Field components are now complete
and independent, interpretation reports are pending for both surveys. The
surveys were conducted on the following exploration targets.

	    Gauthier: A 2.0-km, single-line deep IP survey, covering the eastern
limit of the Gauthier property, was designed to identify the western strike
extension of the North Basalt Zones, located at Queenston Mining's Upper
Beaver property. The survey was also designed to transect historical ground
geophysical anomalies that are analogous (including orientation) to those
signatures associated with mineralized structures and a central syenite
porphyry intrusive at the neighbouring Upper Beaver deposit.

	    Lebel (KQS Zone): A multi-line deep IP survey over the KQS zone has also
been completed. The KQS zone, discovered in 2008 beneath Mud Lake, is a wide
copper-gold anomalous zone west of the Bidgood Mine. A distinct 1.6 km-long
mineralized corridor hosted within a large feldspar-porphyry stock contains a
large quartz-stockwork zone that averages 114 m in core intercepts. Within
this broader zone, a strong siliceous core with greater than 80% quartz
averages 0.46 gAu/t and 0.10% copper over an average core length of 17 m. The
recent survey was designed to outline mineralized targets along this corridor
and at depth for future drill testing.

	    PDAC Investors Exchange

	    Vault invites interested parties to visit their exhibitor's booth
(No.2217) at the PDAC Investors Exchange on March 7 and 8, 2010 where a
selection of core samples, maps and sections will be on display.

	    Qualified Person and QA/QC Program

	    Mr. Michael Sutton, P.Geo, Vault's Vice-President of Exploration is the
designated Qualified Person pursuant to National Instrument 43-101 (Standards
of Disclosure for Mineral Projects) of the Canadian Securities Administrators
and is responsible for the verification and quality assurance of the technical
content of this news release.
	    The Company has instituted a quality assurance & quality control (QA/QC)
program to ensure sampling and analysis of all exploration work is conducted
using industry best practices, including assay control samples. True widths
for holes BV10-04 and BV10-07 reported herein are interpreted to be 90% of
drill intersection widths. True widths for other holes referenced are
interpreted to range from between 65% and 90% of drill intersection widths.
Tabulated results will be posted on Vault's website following receipt of
assays for each entire hole and quarter core results.

	    About Vault

	    Vault Minerals Inc. is a well-financed junior gold exploration company
focused on its large property portfolio in the prolific Kirkland Lake gold
camp of northern Ontario, where in excess of 24 million ounces of gold have
been produced at a recovered grade of 16.1 gAu/t (0.47 oz/ton). The Company's
capital consists of 40,204,543 issued and outstanding common shares which are
listed for trading on the TSX Venture Exchange under the symbol `VMI'. For
further information, please contact Joe Horne, President at 902 402 8266 or
visit Vault's website at www.vaultminerals.com.

	    On behalf of the Board of

	    signed "Joseph D. Horne"
	    Joseph D. Horne, President & CEO

	    This Press Release may contain forward-looking statements that involve
inherent risks and uncertainties. Actual events or results could differ
materially from the Company's forward-looking statements and expectations, and
the Company disclaims any obligation to update these forward-looking

	    "Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release."

	    /For further information: please contact Joe Horne, President at (902)
402-8266 or visit Vault's website at www.vaultminerals.com/
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