SOURCE: Crystal Research Associates, LLC

Crystal Research Associates, LLC

June 05, 2007 08:00 ET

Crystal Research Associates, LLC Issues Executive Informational Overview® (EIO®) on Vena Resources Inc.

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Crystal Research Associates, LLC.

NEW YORK, NY--(Marketwire - June 5, 2007) - Crystal Research Associates, LLC announced today that it has issued an Executive Informational Overview® (EIO®) on Vena Resources Inc. (TSX: VEM). The full 56-page report can be found at www.crystalra.com and www.venaresources.com.

Vena Resources Inc. ("Vena" or "the Company") is a Canadian mining company dedicated to exploring and developing Peru's mineral potential. Vena operates through four strategic business units -- Mining, Precious Metals, Base Metals, and Uranium -- that have access to a wide variety of exploration projects and joint venture opportunities. Throughout its business units, the Company owns 29 properties in Peru, which total approximately 80,000 hectares (ha) or 197,684 acres. These properties are in various stages of development, ranging from newly acquired, early stage prospects to those nearing production capabilities.

At present, Vena's focus is on accelerating development of the following projects: Azulcocha (Mining), Huachon and Pucara (Precious Metals), Aurora (Base Metals), and the Company's uranium targets (Uranium). Azulcocha is a zinc mine currently in production and generating cash flow for the Company through sales of zinc ore at market rates. Huachon is a high-grade gold system, for which Vena is designing an 800-meter exploration drilling program. Pucara, purchased in December 2006, contains a copper and gold stockwork and a polymetallic vein system (zones of rock consisting of a variety of metals). Vena estimates that Pucara can likely be in production by the second half of 2008. Additionally, the Company is planning its second drill program at Aurora, a copper and molybdenum system. Vena has signed a Letter of Intent with Cameco Corp. (NYSE: CCJ), the world's largest uranium producer, to jointly explore and develop the Company's uranium assets in Peru.

Vena trades on the Toronto Stock Exchange (TSX: VEM), the Lima Stock Exchange (LIMA: VEM), the Frankfurt Exchange (FRANKFURT: V1R), and the U.S. Over-the-Counter market (PINKSHEETS: VNARF). Vena is headquartered in Toronto, with five subsidiaries operating in Peru.

About Crystal Research Associates, LLC

Crystal Research Associates, LLC is an independent research firm that provides institutional-quality, fee-based research to small and mid-cap companies. Crystal Research Associates' unique and novel product, the Executive Informational Overview® (EIO®), is free of investment ratings, target prices, and forward-looking financial models. The EIO® presents a crystal clear, detailed report on a company (public or private) in a manner that is easily understood by the Wall Street financial community. The EIO® details a company's product/technology/service offerings, market size(s), key intellectual property, leadership, growth strategy, competition, risks, audited financial statements, key events, and other such fundamental information. Crystal Research Associates has offices in New York City, Delray Beach, Montréal, and Toronto. Crystal Research Associates has been compensated by the Company in cash of thirty-seven thousand five hundred U.S. dollars, and two hundred and fifty thousand Options/Warrants for its services in creating this report, for updates, and for printing costs.

Forward-Looking Safe Harbor Statement

Statements in this news release regarding future financial and operating results, future growth in R&D programs, potential applications of the Company's technology, opportunities for the Company, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements including: limited operating history, need for future capital, risks inherent in the development and commercialization of potential products, protection of the Company's intellectual property, and economic conditions generally. Additional information on potential factors that could affect results and other risks and uncertainties are detailed from time to time in the Company's periodic reports on Canada's System for Electronic Document Analysis and Retrieval (SEDAR), press releases, and other forms filed from time to time.

These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties. Crystal Research Associates assumes no obligation to update any of the forward-looking statements in this release.

Contact Information

  • Contact:
    Jeffrey J. Kraws
    Email Contact
    Karen B. Goldfarb
    Email Contact
    Crystal Research Associates, LLC
    P: (609) 306-2274
    F: (609) 395-9339