Vault Minerals Inc. - Press Releases - Diadem To Proceed With Vault's Attawapiskat Diamond Property

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TSX.V : VMI

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	Thu Jan 20, 2005 Diadem To Proceed With Vault's Attawapiskat Diamond Property
	Kirkland Lake, Ontario. Vault Minerals Inc. is pleased to announce that Diadem Resources Ltd. has completed its review of Vault's Attawapiskat Diamond Property situated southeast of the De Beers Victor project in the James Bay Lowlands of Northern Ontario. As a result of this review, Diadem has elected to proceed with its option to acquire a 51% interest in the property and has entered into a comprehensive option and joint venture agreement formalizing the general terms of agreement between Diadem and Vault that were outlined in Vault's news release of November 29, 2004. By formerly taking up its option, Diadem is now committed to expend at least $300,000 by April 1, 2005 and exploration work on the property is scheduled to commence shortly. About Vault Vault Minerals Inc. (TSX-V: VMI) is a junior natural resource company involved in exploration for gold and diamonds. The Company's gold properties are located in the core of the Kirkland Lake gold camp, Ontario and within an area of active gold exploration in Urban Township, Quebec. Vault's diamond property lies southeast of De Beers' Victor diamond mine development in the James Bay Lowlands, Ontario. The Company is based in Ontario, with offices in Kirkland Lake and Toronto, and its capital consists of 14,320,468 issued and outstanding common shares. On Behalf of the Board of 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, Ontario 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 "The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release."

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