June 20, 2007
June 20, 2007-- Toronto, Ontario – Vena Resources Inc. (TSX: VEM, Lima: VEM, Frankfurt: V1R, OTC: VNARF) is pleased to announce that after a field visit from Vena and Cameco exploration managers, a multi-phase exploration program is being initiated in all three regions of Puno where Minergia SAC (a company jointly owned by Vena and Cameco) controls numerous near-surface targets. The intent of the first phase of the multi-year program is to better understand the geology of the three regions in Puno. Details of the exploration program are highlighted below:
New Corani (Macusani) – Ignimbrite - Vein/Fracture Mineralization
· Diamond drilling of approximately 25 drill holes from the top plateau with five of these holes to be drilled to approximately 250 meters and the remaining 20 drill holes to be drilled to approximately 100 meters. The 250 meter holes are being drilled to determine if the lower volcanic stratigraphy can be productive;
· Drilling of 10 to 15 regional drill holes elsewhere in the Macusani region for volcanic stratigraphy correlation with the aim of intersecting mineralization in similar orientations;
· Commence baseline soil/water sampling at and surrounding the project lands to establish backgrounds prior to, or in conjunction with, more intensive exploration work; and
· Cameco geoscientists and researchers will look at any potential mineralogy from a hand sample point of view using infrared spectrometry techniques. The goal will be to compare the prospective Ignimbrite three (I-3) with the other two as well as look at un-mineralized versus mineralized I-3 to verify whether differences exist adjacent to the vein/fracture mineralization. The aim would be an attempt to use airborne hyperspectral techniques to remotely focus on high priority areas in a regional sense which could be useful as another screening tool for regional target generation away from known occurrences or could assist with prioritizing the known occurrences.
Muñani – Uranium Mineralization in Sedimentary Sandstone Formations
· Map stratigraphy in a vertical sense along sections;
· Sample Huancané Formation for geochemistry as well as using scintillometer/spectrometer surveying for future correlation; and
· Drill four diamond drill holes with at least one hole to a depth of 200 meters and the others to a depth between 75 to 100 meters; drill holes will be spaced 250 meters apart or further to accommodate two lines of drill holes. These initial vertical holes will test for the presence of this style of stratiform-stratabound mineralization at depth. If positive indications are received from this easy phase of exploration, additional drilling and exploration should follow.
Lagunillas – Uranium Mineralization in Volcano-Sedimentary Environment
· Mineralization consists of multiple horizons of variable thickness and radioactivity associated with black chert, or along contacts with volcanic rocks (below) or sandstone / volcaniclastic rocks (above)
· Stratigraphic mapping of vertical sections in combination with scintillomter/spectrometer surveying and sampling will be completed. Two vertical sections are underway and two additional sections will be completed at adequate spacing to assist future drill hole correlation; and
· Diamond drilling of seven holes along the 2 to 5 km long, 1 to 3 km wide area on four lines with two drill holes on each line. Drill holes will be spaced 500 meters apart along lines separated by about 500 meters. Two drill holes will be deep (over 250 meters) to explore what lies beneath the three to four known radioactive horizons. The other five drill holes will be 100 to 150 meters each. All drill holes will be vertical at this stage for ease of correlation targeting sub-horizontal, stratabound stratiform mineralization.
For further information please visit the Company website at www.venaresources.com or contact:
Juan Vegarra – Chairman & CEO (416) 364-7739, ext. 120 – email email@example.com
The TSX does not accept the responsibility for the adequacy or accuracy of this release. Statements in this press release regarding the Company’s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.