SOURCE: Ventura Gold Corp.

January 10, 2008 08:30 ET

Ventura Gold Completes 60% Earn-In for Cottonwood Peak Project, Nevada

SCOTTSDALE, AZ--(Marketwire - January 10, 2008) - Ventura Gold Corp. (TSX-V: VGO) ("Ventura") has made the final 200,000-share option payment to Zappa Resources Ltd. ("Zappa") and completed the required work commitments to exercise its option and earn a 60% joint venture interest in the Cottonwood Peak gold and silver project, located nine miles west of Yukon-Nevada's Jerritt Canyon gold mine in the Independence Valley Mining District in Elko County, Nevada.

Ventura is the operator of the joint venture with Zappa and has completed in excess of US$1.3 million in drilling and other exploration expenditures on the project. The Company is evaluating the drill results and other historical work in order to assess the next steps for the project.

Ventura - Background Information

Ventura is a United States-based precious metals exploration and development company with a business plan to a) acquire, explore and develop high-grade, low-cost gold-silver and base-metal deposits with a view to establishing strategic alliances and/or joint ventures with larger companies for the further development and exploitation of Ventura's projects, and b) conduct strategic private equity investing and partnering where Ventura believes those companies and management have the resources and expertise to optimize the potential value of their asset bases. In addition to exploration projects in Peru, Arizona and Nevada, Ventura has strategic investments in emerging exploration companies with exposure to exploration projects in the USA, Mexico, China, Africa, Colombia and Ecuador.

Contact Information

  • For additional information, contact

    Investor Relations:
    Wendy Yang
    Tel: (303) 357-4863

    or

    Eric Edwards
    President and CEO
    Tel: (303) 357-4861