Mena Resources Inc.

Mena Resources Inc.

May 17, 2006 09:00 ET

Mena Resources Inc.: Drilling Cuts 123.5m of 2.71 g/t in New Zone at the Increible 6 Gold Project, Bolivar State, Venezuela

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 17, 2006) - Mena Resources Inc. (TSX VENTURE:MEA) is pleased to provide the following update on the exploration and drilling program on the Increible 6 Gold Project located in the El Callao District, Bolivar State, Venezuela. Increible 6, along with two other Venezuelan gold projects, are within a joint venture agreement between Mena Resources Inc. and Mineria MS, a private Venezuelan mining company, where Mena's 24% interest is carried through the first US$15 million in expenditures.

The Company has now received initial results for a portion of drill hole IEL-160 which is located on the eastern end of the Ingrid/Elisa Zone. The hole intersected the targeted mineralized structures (Ingrid and Elisa) and an additional mineralized zone consisting of a wide zone of silicification with variable amounts of stockwork quartz veining and brecciation - the "Footwall Zone".

The overall weighted average for the mineralized zone is 2.71 g/t over 123.5 metres (373.5 to 497m). The following table provides details for the results received to date.

from to Width(i) Grade including
373.5 391.0 17.5 m 2.73 g/t
395.5 402.0 6.5 m 3.69 g/t
406.0 436.0 30.0 m 3.89 g/t 4.5 m @11.19 g/t
448.5 456.32 7.82 m 3.33 g/t
477.0 496.7 19.7 m 5.39 g/t 5.75m @8.29 g/t
(i) This is the first intersection of this mineralized zone and as
such insufficient geological data exists to calculate "true"
widths. Further drilling is in progress.

The intersection of the "Footwall Zone" has immediate exploration implications for the Increible 6 Gold Project. This wider mineralized zone, in addition to the existing near surface Ingrid and Elisa structures, significantly increases the size potential of the gold mineralization within the central portion of the mineralized trend.

Additional mineralized sections were encountered in the upper portions of drill hole IEL-160 and sampling of these sections is in progress. Sample results are also pending from the adjacent hole IEL-63 which intersected a similar wide zone of highly silicified tuff approximately 50m to the west of IEL-160. A series of drill holes surrounding IEL-160 which intersected similar mineralization but were stopped shortly after crossing the Elisa structure have been selected and will be re-entered and lengthened in order to intersect the "Footwall Zone".

The current drill program began in February of 2006 and is scheduled to be completed in July 2006. So far this year approximately 26,000 metres (16,000m core drilling and 10,000m RC drilling) have been completed, following up on 17,800 metres of diamond drilling completed in 2004 - 2005. The drilling has continued to be directed at expanding the known gold mineralized zones, testing newly identified zones, and providing more detailed data within the Elisa, Cristina and Culebra Zones. Results from the current phase of drilling were released in the Company's previous news release (April 9, 2006).

All samples were analysed by fire assays at the independent commercial SGS facility located at the Emilia Mill Site, El Dorado, Venezuela. Each batch of drill samples analysed includes standards, blanks and field duplicates. Samples are analysed for gold by industry standard 30 gram fire assays. Additional check assays are completed on selected sample rejects at Triad Labs, El Callao, Venezuela. A review of the QA/QC results shows excellent repeatability between the various labs and no significant bias. All results are considered highly reliable. Sample rejects for all drill samples are stored in Mena's secure facilities in Tumeremo, Venezuela, and will continue to be available for any further testing which may be required.

Diamond drilling is being completed by Major Drilling of New Brunswick, Canada and CoreBeil Drilling of Puerto Ordaz, Venezuela. Reverse Circulation drilling is being completed by AK Drilling of Peru. All drilling and exploration, including the QA/QC, on the Increible 6 Project, is under the direct supervision of Gregory F. Smith, PGeo., Mena's exploration manager in Venezuela.

Additional details on the Increible 6 Gold Project including property geology and mineralization as well as maps showing the location of the mineralized zones are available on the Company's web site at

Qualified Person: Gregory F. Smith, P.Geo. is the Qualified Person as defined by National Instrument 43-101 responsible for the geological data reported in this news release.

Addition to the Board of Directors - The Company would also at this time like to welcome Mr. Simon Ridgway to the Board of Directors. Mr Ridgway has been involved in the mining industry in Latin America for the past 15 years and his experience will prove invaluable as the Company moves forward with its projects in Venezuela, Chile and Honduras.


Mario Szotlender, President

The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.

Contact Information