November 6, 2007
Toronto, Ontario – Vena Resources Inc. (“Vena” or the “Company”) [TSX: VEM, Lima: VEM, Frankfurt: V1R] is pleased to announce that assays from seven (07, 08, 10, 10A, 11, 12 and 12A) of the anticipated 21 drill holes have been received so far, with encouraging results. As previously reported on February 26 and May 22, 2007, CVRD conducted an eight-hole drill program late last year. An artisanal miner developed two interconnected underground levels of 280 metres along the Gladys structure with 40 metre long cross-cuts 80 metres apart. A composite sample of a 1,400 tonne stockpile extracted from these levels assayed 3.64 g/t Au, 19.34 g/t Ag and 4.23% Cu. Gladys outcrops along a NW trend for more than 200 metres and remains open.
The current program is targeting several mineralized structures (veins, stockworks, breccias) that outcrop over several square kilometres as shown in the attached drill program map. The intent of the program is to test the extent of the mineralization, followed by an in-fill drill program to define a NI 43-101 compliant resource in 2008. Comprehensive metallurgical tests are also planned for 2008. Highlights of drill programs follow. All intercepts are down-hole lengths and true widths have not been calculated. Final results and the entire database will be posted on www.venaresources.com:
· CVRD-07 a 158 metre hole, cut 24 metres averaging 4.5% lead, including a 10 metre wide interval grading 6.7% lead (Pb) across the Lucero structure.
· Vena’s holes 19 and 20 are testing the continuity of the mineralization to the north and south of CVRD’s DDH-07 hole along the Lucero and San Rafael structures.
· Vena’s drill holes (07, 08, 10, 10A, 11, and 12 and 12A) cut several mineralized structures with highlights following. The entire database will be posted on the Company’s website.
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|Hole||From (m)||To (m)||Interval (m)||g/t||%|
Juan Vegarra, Chairman and CEO states: “Pucara is exceeding our initial expectations. We originally thought of Pucara as a gold/copper play, but it is rapidly becoming a three system project with breccias containing lead/silver to the north, copper/gold structures in the center — possibly open-pittable — with excellent metallurgical results shown so far, and the wide Santo Tomás polymetallic structures to the south that will be drill-tested later this month. The positive results in our first holes indicate we are making significant strides in understanding a complex polymetallic system. Of particular significance - Vena’s drill hole 11 cut the Katy vein from 100.7 to 104.6 metres with an average grade of 1.91% Cu and significant Au credits showing continuity from a working level above. A 1,400 tonne bulk sample was taken from the Katy level assaying 1.8% Cu and 3.0 g/t Au resulting in a concentrate of 20% Cu, 35 g/t Au and 2 oz Ag using a flotation circuit.”
The drilling programs are being supervised by Dr. James W. Stewart P.Geo., Vena’s Qualified Person as defined by NI 43-101. Core samples are cut longitudinally with a diamond saw, with one- half of the core placed in sealed bags and shipped to CIMM PERU in Lima, Peru, an ISO certified assay laboratory. The program includes a comprehensive assay quality control routine comprising the systematic use of standards, blanks, and field duplicate samples. Secondary laboratories will be used for check assaying.
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: 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.