Ventana Gold Corp.
TSX : VEN

Ventana Gold Corp.

October 15, 2009 17:21 ET

Ventana Gold Corp. Announces $40,000,000 Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 15, 2009) –

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Ventana Gold Corp. (the "Company" or "Ventana") (TSX:VEN), is pleased to announce that it has entered into a financing agreement pursuant to which a syndicate of underwriters led by TD Securities Inc. has offered to purchase, on a private placement basis, 4,000,000 common shares of the Company at a price of $10.00 per share (the "Issue Price") for total gross proceeds of $40,000,000 (the "Offering").

The common shares issued with respect to the Offering will be subject to a four month hold period in accordance with applicable Canadian securities laws.

The closing of the Offering is expected to occur on or about October 30, 2009 and is subject to receipt of all necessary regulatory approvals including that of the Toronto Stock Exchange.

The net proceeds from the Offering will be used by Ventana to fund further exploration and development of the Company's properties and general corporate purposes.

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 (the "U.S. Securities Act") 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.

The common shares of Ventana trade on The Toronto Stock Exchange under the symbol "VEN".

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 the La Bodega property with a focus on expanding the high-grade La Mascota zone. The Company's shares trade on the Toronto Stock Exchange under the symbol VEN.

Cautionary Statement Regarding Forward-looking Information

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.

Contact Information