Vena Resources Inc.
OTC Bulletin Board : VNARF
FRANKFURT : V1R
TSX : VEM

Vena Resources Inc.

March 10, 2011 02:00 ET

Vena's Uranium Resource Expansion Program in Macusani Successfully Extends Higher Grade Uranium Zone to South and West

TORONTO, ONTARIO--(Marketwire - March 10, 2011) -

NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE US.

Vena Resources Inc. ("Vena" or the "Company") (TSX:VEM)(LIMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF)(XETRA®:V1R.DE), a Company with strong partnerships with some of the world's largest mining companies, is pleased to announce the initial results of the third major drill campaign on the Macusani properties of Minergia S.A.C., a uranium exploration company jointly owned by Vena and Cameco Corporation.

A total of approximately 4,000 metres of diamond drilling has been completed to date including 16 holes at the Isivilla prospect and 11 holes at the Tantamaco prospect. Two track mounted machines are being used and assays have been received for the first 14 holes.

The drilling at Tantamaco has extended the higher grade zone around hole TA-2010-79 (54 metres of 1.4 lbs/t U3O8; including 9.7 metres of 5.9 lbs/t U3O8) 300 metres to the west and 150 metres to the south. Several of the initial holes were spaced at 50 metre x 50 metre intervals to prove the consistency of the 40 metre thick disseminated zone within the B horizon of the Yapamayo rhyolite pyroclastic. The current plan is to continue expanding the zone to the south with a series of holes spaced at 100 metre x 100 metre intervals. The table below presents the assay results for the first seven drill holes. It should be noted that assay results from the two visually best holes drilled to date, TA – 115 and TA – 117 are expected in a few days.

Assays for the initial seven Isivilla holes that were drilled on the southern line of five platforms to the west of 2010 drill hole IS-06, gave relatively low uranium values. Drilling on the northern tier of holes (600 metres to the north) was much more successful and visual uranium mineralization increased progressively towards the west. Based on the encouraging intersections in holes IS-026 and IS-027, an additional hole is being drilled 200 metres to the west of IS-027. When this hole is completed the drill will be moved to Tantamaco to accelerate the resource expansion program.

David Bent, Vena's Vice President Exploration stated: "We are very pleased with the initial results of the drilling at both prospects. The higher grade zone at Tantamaco is continuing to the south and west and with the addition of the second drill we should be able to rapidly expand the resource base. The Isivilla drilling has indicated that the higher grade zone has a more northwesterly trend than initially thought and the next drill plan will be designed to fill in between holes IS-06 and IS-27 as well as follow the zone to the northwest."

TANTAMACO DDH INTERSECTIONS
Drill Hole From
(metres)
To
(metres)
Interval
(metres)
U3O8
(%)
U3O8
(lb/ton)
TADDHS11-090 43.80 98.25 54.45 0.053 1.054
including 70.00 73.25 3.25 0.171 3.417
including 77.50 98.25 20.75 0.100 2.008
           
TADDHS11-091 67.90 122.60 54.70 0.024 0.470
including 94.10 122.60 28.50 0.042 0.831
           
TADDHS11-095 50.85 113.00 62.15 0.023 0.452
including 74.80 113.00 38.20 0.036 0.710
including 74.80 79.00 4.20 0.110 2.207
including 88.60 91.70 3.10 0.082 1.636
including 99.50 104.50 5.00 0.073 1.468
           
TADDHS11-096 52.50 127.30 74.80 0.021 0.429
including 75.65 127.30 51.65 0.030 0.602
including 119.95 127.30 7.35 0.097 1.941
including 119.95 123.65 3.70 0.181 3.624
           
TADDHS11-101 24.60 132.45 107.85 0.012 0.241
including 70.70 108.55 37.85 0.028 0.568
including 86.00 108.55 22.55 0.043 0.859
           
TADDHS11-102 52.20 128.80 76.60 0.017 0.349
including 90.70 119.45 28.75 0.037 0.737
including 90.70 101.70 11.00 0.062 1.231
including 115.85 119.45 3.60 0.067 1.339
           
TADDHS11-168 65.65 98.65 33.00 0.024 0.478
including 83.40 98.65 15.25 0.040 0.796
including 83.40 85.00 1.60 0.085 1.691
including 94.10 98.65 4.55 0.065 1.299

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 NI 43-101. Vena's exploration and development programs are being supervised by Mr. Bent. All core samples are being prepared and analyzed by CIMM Peru, an ISO certified laboratory in Lima, Peru. The program is designed to include a comprehensive analytical quality control routine comprising the systematic use of standards, blanks and field duplicate samples. A secondary laboratory will be used for check assaying.

For further information on Vena Resources, please visit the Company website at www.venaresources.com, or its Facebook page.

Statements in this press release regarding the Company's business, plans, intentions, proposed Offering and use of proceeds thereof, 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. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. Information identifying risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's current Annual Information Form and its other filings with the various Canadian Securities Regulators, which are available online at www.sedar.com.

Shares Outstanding: 123,601,658

Fully-Diluted: 157,741,664

The TSX does not accept the responsibility for the adequacy or accuracy of this release.

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