Trading Symbol: TSXV: VVV

    CALGARY, Oct. 13 /PRNewswire-FirstCall/ - Vannessa Ventures Ltd.
(the "Company") - The Company announces that drilling is ready to commence on
the Company's Marudi property located in southern Guyana. This program
originally scheduled for earlier in the year was delayed by a decision to
increase the project scope and by the onset of the rainy season. The expanded
project now involves re-logging of existing core, re-evaluation of all prior
data and surface mapping in addition to the 2,500 meter drill program.
    Through its 100 percent owned subsidiary, Romanex (Guyana) Inc., the
Company holds a 12,500 acre Mining License over the historical gold producing
area surrounding Marudi Mountain and Mazoa Hill.
    Earlier diamond drilling has been focused on two areas of gold
mineralization, Marudi Mountain and Mazoa Hill. The current program will seek
to expand the resource estimates of these areas and investigate other nearby
high potential areas identified by geochemical anomalies and other exploration
methods.
    A resource estimate completed by Kilborn Engineering Pacific in June 1995
on behalf of the properties former owner, Sutton Resources, identified
measured and indicated resources of 320,000 ounces of gold at an average grade
of 2.94 g/t gold at a 1 g/t cut off ratio plus 67,000 ounces of inferred
resources at an average grade of 2.45 g/t again at a 1 g/t cut off grade. The
Kilborn study, which deals with only the Mazoa Hill zone, is filed on SEDAR
and a summary of these results was published by the Company in a prior news
release dated February 14, 2002.
    Marudi Mountain and the adjacent Paint Mountain areas hold the potential
to host additional drill targets as is evident by the placer mining and other
hand mining that has historically been carried out in the area.
    Vannessa (Guyana) Inc., a 100 percent owned subsidiary, now holds a
Prospecting License on the Paint Mountain area of approximately 8,875 acres
adjacent to the Marudi Mountain concession.

    John Morgan,
    President
    Vannessa Ventures Ltd.

        "The TSX Venture Exchange does not accept responsibility for
                 the adequacy or accuracy of this release."

                           VANNESSA VENTURES LTD.
                            220, 1010 - 1St S.W.
                          Calgary, Alberta T2R 1K4
                          Telephone: (403) 444-5191

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