August 27, 2007
August 27, 2007-- Toronto, Ontario – Vena Resources Inc. (TSX: VEM, Lima: VEM, Frankfurt: V1R, OTC: VNARF) confirms that the Company has no exposure to asset-backed commercial paper, including sub prime mortgages. Vena’s cash position in Canada is deposited with the Royal Bank of Canada in liquid GICs and in Peru, Vena’s cash from sales of ore and payments from our partners is in liquid instruments in the largest banking group in Peru – Banco de Credito.
Juan Vegarra, Vena’s Chairman stated:
"Given the recent volatility in the stock market, we felt an announcement confirming to Vena shareholders that the Company’s cash holdings are liquid and not exposed to asset-backed commercial paper was appropriate. Vena is debt free and well-financed to continue its development and exploration plans. “
For further information please visit the Company website at www.venaresources.com or contact:
Kirsten Marcia (416) 364-7739, ext. 142
Director of Investor Relations firstname.lastname@example.org
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.