Vault Minerals Inc. - Press Releases - Vault Closes $400,000 Private Placement

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TSX.V : VMI

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	Thu Sep 30, 2004 Vault Closes $400,000 Private Placement
	Trading Symbol: VMI -- The TSX Venture Exchange September 30, 2004 Kirkland Lake, Ontario. Vault Minerals Inc. (the "Company" or "Vault") has completed its previously announced (see August 25, 2004 Press Release) non-brokered private placement and raised gross proceeds of $400,000 through the sale of 4,000,000 units at $0.10 per unit. Each unit consists of one common share and one share purchase warrant with each share purchase warrant entitling the holder to acquire one common share at an exercise price of $0.15 until September 27, 2006. No commissions or finder's fees are payable in respect of the moneys raised. The common shares issued or to be issued following exercise of the share purchase warrant will all be subject to a hold period of 4 months expiring January 28, 2005. Insiders of the Company subscribed to 25% of the private placement. Proceeds of the financing will be used for debt settlement and for working capital. 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 Bay Lowlands. The Company is based in Ontario, with offices in Kirkland Lake and Toronto, and its capital consists of 12,820,468 issued and outstanding common shares, after giving effect to the aforementioned private placement. On Behalf of the Board VAULT MINERALS INC. "Andy Chater" _______________________ Andrew M. Chater, P.Geo President & CEO For additional information, please visit our website at www.vaultminerals.com or 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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