Vault Minerals Inc. - Press Releases - Proposed Financing

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TSX.V : VMI

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	Wed Aug 25, 2004 Proposed Financing
	Kirkland Lake, Ontario. Vault Minerals Inc. (the "Company" or "Vault") announces that it intends to raise up to $400,000 by way of a non-brokered private placement. The proposed financing will consist of up to 4,000,000 units each comprising one common share and one share purchase warrant. The price of this unit will be $0.10 and each share purchase warrant will be convertible to one common share at a price of $0.15 at any time up to two years from closing. It is anticipated that Insiders of the Company will subscribe for up to 25% of the proposed financing. No commissions or finder's fees will be payable in respect of the moneys raised. Proceeds of the financing will be used for debt settlement and for working capital. Closing of the proposed financing will be subject to regulatory approval. About Vault Vault Minerals Inc. is a junior natural resource company involved in exploration for gold and diamonds in Ontario whose common shares are listed for trading on the TSX Venture Exchange under the symbol "VMI". The Company owns the 60-claim Lebel gold property, situated in the heart of the historic Kirkland Lake gold camp, and the 3500-claim Attawapiskat diamond property located southeast of De Beers' Victor diamond mine development in the James BayLowlands. The Company is based in Ontario, with offices in Kirkland Lake and Toronto, and its capital consists of 8,820,468 issued and outstanding common shares. On Behalf of the Board VAULT MINERALS INC. "Andy Chater" _______________________ Andrew M. Chater, P.Geo President & CEO For additional information, contact: Dan McCormack, Director 21 Goodfish Road Kirkland Lake, ON P2N 3H7 Phone (705) 567 4511 Fax (705) 567 6873 Email info@vaultminerals.com Andy Chater, President & CEO Suite 711 -- 25 Adelaide Street East Toronto, Ontario M5C 1Y2 Phone (416) 360 1985 Fax (416) 360 7193 Email info@vaultminerals.com

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