Vena Resources Inc.

Vena Resources Inc.

October 15, 2009 02:00 ET

Vena Resources Completes Environment Impact Study for Oyon Coal Project

TORONTO, ONTARIO--(Marketwire - Oct. 15, 2009) - Vena Resources Inc. ("Vena" or the "Company") (TSX:VEM)(LIMA:VEM)(FRANKFURT:V1R) is pleased to announce that it has recently completed an environmental impact study for the coal property in Oyon it purchased earlier this year and is expecting that by year-end it will have received all necessary government permits to start exploring and developing a production unit to serve the needs of the local cement manufacturers. Once the permits are obtained, the company plans to set up a mining operation with an initial production capacity of 350 tonnes-per-day, with the aim of supplying coal to a nearby cement plant which had previously been purchasing coal from this mine and has already expressed interest in reinitiating the purchases. Given the scale of the operation, a feasibility study has not been completed and there is no certainty the proposed operation will be economically viable.

Vena, through its 100% owned subsidiary in Peru - Sudamericana de Carbon S.A. (SDC) - has reviewed several producing anthracite coal mines and is evaluating several potential sites for its coal classification facility in northern Peru. SDC expects to acquire two or three of these properties with a view to increasing production levels to service the needs of the local and international markets.

SDC's Oyon Coal Property

The geological sequence containing the coal seams corresponds to the Oyon formation of lower Cretaceous age. The coal seams outcrop on the east and west flanks of a north - south striking asymmetrical syncline. A number of coal seams hosted in dark gray slates and gray sandstones have been identified within the mining concession. Thicknesses of the seams varies from less than one metre to over four metres.

The Alexia and Micaela seams are the most significant due to their geological characteristics and their relatively continuous outcropping for over 670 metres with average thicknesses of 4.0 metres and 2.0 metres, respectively. The Alexia seam has been partially exploited but the old workings are currently collapsed due to the inadequate mining method used in the past.

The results obtained from chemical analyses of channel samples show ash content ranging from 6.0% to 31.5%; moderate to low volatile content ranging between 8.8% and 16.0%; fixed carbon ranging between 58.3% and 82.5%; and sulfur content below 1%.

This press release has been reviewed and approved by David Bent, P.Geo., Vena's Vice President of Exploration and Qualified Person as defined by NI43-101. Vena's exploration and development programs are being supervised by Mr. Bent.

For further information on Vena Resources, please visit the Company website at

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.

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