Ventana Gold Corp.

Ventana Gold Corp.

October 30, 2009 11:36 ET

Ventana Closes $40 Million Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 30, 2009) -


Ventana Gold Corp. (TSX:VEN) ("Ventana" or "the Company") announces the closing of the $40 million bought deal financing announced on October 15, 2009. The financing was underwritten by a syndicate led by TD Securities Inc. and including Canaccord Capital Corporation, CIBC, GMP Securities L.P., and Thomas Weisel Partners Canada Inc. Peninsula Merchant Syndications Corp., a private merchant bank, acted as advisor to Ventana.

The financing comprised four million common shares at a price of $10.00 per share, for gross proceeds of $40 million.

In accordance with Canadian securities laws, the common shares issued with respect to this financing are subject to a four-month hold period expiring March 1, 2010.

Net proceeds from the financing will be used by Ventana to fund further exploration and development of the Company's properties and general corporate purposes. The Company is increasing the pace of exploration at the La Mascota zone with the addition of a 10th drill rig, and is rapidly advancing technical design work to begin project development.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold within the United States or to U.S. persons unless an exemption from such registration is available.

About Ventana
Ventana is a Vancouver-based mineral exploration and development company with rights to 4,573 hectares of exploration property in northeastern Colombia. Ventana is currently drilling at La Bodega and expanding two newly discovered mineralized zones, La Bodega and La Mascota. The Company's shares trade on the Toronto Stock Exchange under the symbol VEN.

Forward-looking Statements
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in Ventana's latest quarterly report and management discussion and analysis. Ventana assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

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