======================================================================
Vannessa Announces Plans to Terminate its US Registration and SEC
Reporting Obligations
======================================================================

Calgary, Alberta, May 21, 2008 -- Vannessa Ventures Ltd. ("Vannessa" or
the "Company") announces its plans to file a Form 15F with the United
States Securities and Exchange Commission (the "SEC") to voluntarily
terminate the registration of its Common Shares under the United States
Securities Exchange Act of 1934. Vannessa expects the termination to
take effect no later than ninety days following the filing of Form 15F.
As a result of this filing, the Company will immediately stop filing
certain reports, including Form 20-F and Form 6-K, with the SEC.

As a TSX Venture Exchange listed reporting issuer, Vannessa will
continue to meet its Canadian continuous disclosure obligations through
filings with the applicable Canadian securities regulators. The
Company's filings can be found on the System for Electronic Document
Analysis and Retrieval ("SEDAR") at www.sedar.com.

The Company is not listed on any U.S. stock exchange and the
administrative burdens and costs associated with being a U.S. reporting
company, particularly with respect to the SEC Sarbanes-Oxley
requirements, have increased materially in the past few years.
Vannessa maintains these burdens and costs outweigh any benefits
derived from the Company's foreign issuer status with the SEC,
particularly as the great majority of Vannessa's shareholder base is
Canadian.

Caution Regarding Forward-Looking Information and Statements

Certain statements in this press release address future events and
conditions and, as such, involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the statements.
These factors include, among others, the inherent risks involved in the
exploration and development of mineral properties, the uncertainties
involved in interpreting drilling results and other geological data,
fluctuating metal prices, the possibility of project cost overruns or
unanticipated costs and expenses, uncertainties relating to the
availability and costs of financing needed in the future, the
possibility that all necessary governmental and regulatory approvals
will not be received, and the availability of a qualified workforce and
third party contractors necessary for the development and operation of
a mine. The Company undertakes no obligation to update these
forward-looking information or statements if circumstances or
management's estimates or opinions should change. The reader is
cautioned not to place undue reliance on forward-looking information or
statements.


John R. Morgan, President
VANNESSA VENTURES LTD.

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


Website: www.vannessa.com

======================================================================
Copyright (c) 2008 VANNESSA VENTURES LTD. (VVV) All rights reserved.
For more information visit our website at http://www.vannessa.com/ or
send mailto:vvvinfo@vannessa.com
======================================================================
.