SOURCE: Ventura Gold Corp.

January 18, 2008 08:30 ET

Ventura Gold Reports Significant Drill Results at the Inmaculada Gold-Silver Project in Peru, Including 3.7 Meters at 9.3 gpt Gold and 476 gpt Silver

SCOTTSDALE, AZ--(Marketwire - January 18, 2008) - Ventura Gold Corp. (TSX-V: VGO) ("The Company") has completed an initial core drilling program at the Inmaculada gold-silver project, located in Southern Peru, approximately 30km southwest of joint venture partner Hochschild Mining plc's ("Hochschild") Selene silver mine.

The drill program comprised 15 core holes totaling approximately 2,900 meters ("m") and was completed in the Quellopata area, one of three principal target areas at the Inmaculada Project. Ten of these holes targeted a 400 m strike length section of the Angela vein and five holes targeted a 400 m strike length section of the Martha vein (see attached map). Based on the encouraging results obtained so far, the Company has decided to drill an additional 2,000 m in excess of the original planned 3,000 m of drilling, comprising the first phase drill program for the project.

The best results for the Angela vein were obtained from four holes drilled at its northeastern end, where the estimated true width reaches up to approximately 5.0 meters. In drill intersections from these four drill holes, the Angela vein averaged 6.4 grams per tonne ("gpt") gold and 154 gpt silver across a true width of 3.4 m. A "splay" off the Angela vein intersected in Inma-14 averaged 9.3 gpt gold and 476 gpt silver across a true width of 3.7 m. (See attached table for complete results from all drill holes).

Significant drill intercepts from the four holes at the Angela vein, all representing estimated true widths and average uncut grades, included:

   -- Drill hole Inma-04 with 5.0 m at 6.3 gpt gold and 166 gpt silver

   -- Drill hole Inma-05 with 0.6 m at 10.3 gpt gold and 210 gpt silver

   -- Drill hole Inma-14 with 3.7 m at 9.3 gpt gold and 476 gpt silver
      and 3.0 m at 6.5 gpt gold and 118 gpt silver

   -- Drill hole Inma-15 with 5.0 m at 6.0 gpt gold and 158 gpt silver

The best results for the Martha vein were obtained from two holes drilled, representing true widths and average uncut grades:

   -- Drill hole Inma-10 with 0.65 m at 17.8 gpt gold and 236 gpt silver

   -- Drill hole Inma-13 with 0.6 m at 2.6 gpt gold and 1,218 gpt silver

Drilling activities are currently suspended due to the rainy season, but will resume in late March/early April, 2008.

Target Areas

As previously reported in a news release dated February 12, 2007, the Inmaculada property contains three principal exploration target areas:

    Quellopata -- hosting over 25 km of gold/silver-bearing quartz veins
    of the low-sulfidation type.

    Minascucho-San Salvador -- hosting mineralized breccias of the
    high-sulfidation type.

    Tararunqui -- hosting disseminated mineralization of the
    high-sulfidation type.

General

Sample preparation and analytical work for Ventura's drilling program was carried out by SGS Mineral Services in Lima, Peru using industry-standard sampling practices and analytical methods for silver and gold. Ventura's drilling program is supervised by Qualified Person, Ventura Exploration Manager, Mark Cannuli.

Agreement with Hochschild

The Inmaculada Project is a joint venture with Compañia Minera Ares S.A.C., a wholly owned subsidiary of Hochschild. The Company can acquire up to a 70% interest in the Inmaculada project by completing a total of 15,000 m of drilling over a 3 year period and issuing 3 million shares of the Company to Hochschild over an 8 year period (100,000 shares have been issued to date). Hochschild retains certain back-in rights when the Company has earned an initial 51% interest in the project. The detailed terms of the joint venture agreement were outlined in a news release dated February 12, 2007.

Ventura Gold Corp. is a United States-based precious metals exploration and development company with a business plan to a) acquire, evaluate 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, and b) acquire strategic investments and/or alliances with pre-IPO exploration companies and listed junior companies 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 over $1 million in strategic investments in emerging exploration companies with exposure to projects in Mexico, China, Africa and Ecuador.

Neither Hochschild Mining plc nor any of its subsidiaries accept any responsibility for the adequacy or inadequacy of the disclosure made in this news release and any such responsibility is hereby disclaimed in all respects.

The TSX Venture Exchange neither approves nor disapproves the information contained in this News Release.

Appendix 1: Inmaculada Project Drill Results (All Uncut)

                               Intersection            True
                                 from-to     Interval  Width   Gold  Silver
Vein           DDH (Depth-m)     (meters)    (meters) (meters) (g/t)  (g/t)
             ---------------- --------------- ------   ------  -----  -----
Angela       Inma-01 (339.6m)  127.7 - 128.45   0.75     0.75    2.4    121
             ---------------- --------------- ------   ------  -----  -----
Angela       Inma-02 (168.0m) 147.85 - 148.45   0.60     0.50   16.6    111
             ---------------- --------------- ------   ------  -----  -----
Angela       Inma-03          No Significant Mineralization
             ---------------- --------------- ------   ------  -----  -----
Angela       Inma-04 (131.2m)    50.5 - 56.65   6.15     5.00    6.3    166
             ---------------- --------------- ------   ------  -----  -----
Angela       Inma-05 (142.5m)     74.5 - 75.6   1.10     0.60   10.3    210
             ---------------- --------------- ------   ------  -----  -----
Angela       Inma-06 (110.4m)     86.7 - 87.3   0.60     0.50    2.4    126
Angela Splay             and    94.25 - 94.65   0.40     0.30   10.0     43
             ---------------- --------------- ------   ------  -----  -----
Angela       Inma-07 (300.7m) 129.85 - 131.85   2.00     1.50    2.2     83
             ---------------- --------------- ------   ------  -----  -----
Lourdes      Inma-08 (236.0m)     67.8 - 68.2   0.40     0.35    6.2    231
             ---------------- --------------- ------   ------  -----  -----
Martha       Inma-09 (119.8m)    71.4 - 72.55   1.15     0.90    4.5    168
             ---------------- --------------- ------   ------  -----  -----
Martha       Inma-10 (140.8m)    79.05 - 80.0   0.95     0.65   17.8    236
             ---------------- --------------- ------   ------  -----  -----
Martha       Inma-11 (265.7m)  235.65 - 236.2   0.55     0.50    2.7    155
             ---------------- --------------- ------   ------  -----  -----
Martha Split Inma-12 (180.2m)     96.4 - 96.9   0.50     0.50    6.5     60
             ---------------- --------------- ------   ------  -----  -----
Martha Split Inma-13 (200.4m)     95.0 - 96.0   1.00     0.60    2.6  1,218
Martha                   and   178.45 - 178.9   0.45     0.30    9.5    233
             ---------------- --------------- ------   ------  -----  -----
Angela       Inma-14 (130.3m)     72.4 - 75.9   3.50     3.00    6.5    118
Angela Splay             and    87.45 - 91.35   3.90     3.70    9.3    476
             ---------------- --------------- ------   ------  -----  -----
Angela       Inma-15 (198.1m)  129.9 - 135.25   5.35     5.00    6.0    158
             ---------------- --------------- ------   ------  -----  -----

Contact Information

  • For additional information, contact

    Eric Edwards
    President and Chief Executive Officer
    Tel: 303-357-4862

    Wendy Yang
    Investor Relations
    Tel: 303-357-4863