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Vital Metals and its Doulnia gold project attract European mining investors

Published: 17:46 16 Jul 2010 AEST

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Vital Metals (ASX: VML) has reported that clients of prestigious London based investment managers “Williams de Broe” have recently joined the share registry following a total purchase of 29.5m shares (15.9%).

Bob Catto, Investment Director at Williams de Broe, said “we are continually reviewing early stage mining projects across the globe. We are very impressed with Vital’s Doulnia gold project in Burkina Faso, and with the management team’s capabilities and enthusiasm."

"We believe there is considerable upside potential in the project and in the company," Catto added.

Howard Carr, Vital Metals managing director, concluded “we are very pleased to welcome such a sophisticated group of mining investors. This is a vote of confidence in our company, our interpretation of the gold potential at Doulnia, and our capacity to deliver."

Vital recently announced shallow, wide, high grade gold intersections from the first ever drilling of Doulnia for gold, including:

- KRC001: 4m @ 18.71g/t Gold from 76m (ended in mineralisation);

- KRC019: 31m @ 3.19g/t Gold from 34m (incl. 2m @ 16.91g/t Gold from 41m).

Vital Metals believe these "exciting" early stage results demonstrate the Doulnia project area is host to a well mineralized system.

Vital Metals shares rose 9.3% to 9 cents in trading today.

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