Veraz Petroleum Ltd. (formerly North American Vanadium Inc.) - Issuance of Stock Options

    VANCOUVER, Sept. 28 /CNW/ - CNQ:VRAZ - Veraz Petroleum Ltd. (the
"Corporation") announces that it has issued options to purchase 100,000 common
shares of the Corporation to Validus Capital Ltd. ("Validus"). Scott Lesage, a
director of the Corporation, is a principal of Validus. The options are issued
at an exercise price of $0.85, and are exercisable until December 31, 2007,
pursuant to the terms of a management services agreement between the
Corporation and Validus.

For further information:

For further information: Gerardjan ("Oppe") Cosijn, President and Chief
Executive Officer, Phone: (403) 303-3759, Fax: (403) 264-8163, Email:

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Veraz Petroleum Ltd.

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