Extension of Expiry Date of 2,500,000 Warrants by One Year

CALGARY, Feb. 1 /PRNewswire-FirstCall/ -- Vannessa Ventures Ltd. (the "Company") - The Company will seek approval from the TSX Venture Exchange to extend the expiry date of 2,500,000 share purchase warrants (the "Warrants") issued on February 18, 2004. All Warrants currently entitle the holders to acquire one additional common share of the Company at a price of $0.66 per share up until February 18, 2007.

The Company proposes to extend the expiry date of the outstanding Warrants to February 18, 2008 with no other terms of the Warrants being amended.

The proposed extension of the expiry date of these Warrants is subject to approval of the TSX Venture Exchange.

By order of the Board, -------------------------------- JOHN MORGAN President & Director Vannessa Ventures Ltd. "The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release."

CONTACT: Vannessa Ventures Ltd., Suite 220, 1010 - 1st Street S.W., Calgary, AB, T2R 1K4, Tel: [phone], Fax: [phone]