Mena Resources Inc.

Mena Resources Inc.

February 28, 2005 09:20 ET

Mena Resources Inc.: Increible 6 Project, Venezuela-More than 60 Drill Holes Completed in Current Program/Estimate of Near Surface Gold Zone Established/Extensive Drilling Campaign Ongoing


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MENA RESOURCES INC.

TSX VENTURE SYMBOL: MEA

FEBRUARY 28, 2005 - 09:20 ET

Mena Resources Inc.: Increible 6 Project,
Venezuela-More than 60 Drill Holes Completed in
Current Program/Estimate of Near Surface Gold Zone
Established/Extensive Drilling Campaign Ongoing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 28, 2005) - Mena
Resources Inc. (TSX VENTURE:MEA) is pleased to announce that Mena's
joint venture partner, Balandria Limited has provided initial results
from an ongoing diamond drilling program and has outlined a preliminary
Inferred Resource on the Increible 6 Project located in the El Callao
District of Bolivar State Venezuela. Increible 6, along with two other
Venezuelan gold projects, are within a joint venture agreement between
Mena Resources Inc. and Balandria Limited, funded through General Mining
de Guyana C.A. Mena's 24% interest is carried through the first US$15
million in expenditures.

A total of 63 drill holes (5,000 metres) ranging in length between 36
metres and 218 metres have been drilled since late November 2004.
Results have been received for the first 35 of these holes (a total of
2,549 samples) and highlights of the mineralized intercepts include:


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DDH total Zone sampling Mineralized Intercepts
# length name status from to m Au g/t
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ddhCr-03 75.0m Cristina complete 22.0 39.0 17.0 3.74
ddhCr-04 58.5m Cristina complete 36.0 49.0 14.0 3.53
ddhCr-06 75.0m Cristina complete 60.0 69.5 9.5 18.08
ddhCr-07 75.0m Cristina complete 49.5 55.5 6.0 16.72
ddhIN-06 63.0m Ingrid complete 25.0 52.5 27.5 1.88
ddhIN-11 48.5m Ingrid complete 45.5 51.0 5.5 5.95
ddhIN-02 62.0m Ingrid complete 38.0 57.0 19.0 6.75
ddhEL-10 85.0m Elisa complete 50.0 57.0 7.0 9.35
ddhEL-20 159.0m Elisa complete 112.0 123.0 11.0 2.96
and Elisa complete 142.0 153.0 11.0 4.25
--------------------------------------------------------------------


A complete table of drilling results to date is attached to this news
release.

The drilling has outlined a near surface mineralized zone currently
estimated to contain between three and five million tonnes grading
between 3.0 and 3.5 grams per tonne gold(a). Gold in ounces contained
within this material ranges between 290,000 and 450,000 ounces. The
estimates are summarized in the following table:



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Near Surface Zones: Cristina, Ingrid, Elisa, Enoc

Estimated Grade (range) Approximate tonnes Contained Gold
--------------------------------------------------------------------
--------------------------------------------------------------------
3.0 g/t gold(a) 3,000,000 290,000 ounces
-----------------------------
5,000,000 340,000 ounces
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3.5 g/t gold(a) 3,000,000 385,000 ounces
-----------------------------
5,000,000 450,000 ounces
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(a) NOTE: These estimates do not represent a 43-101 compliant
resource.


All zones are open to depth. The portion of the mineralized system
currently included in the estimate is less than 25% of the gold
anomalous area on surface. Several additional mineralized zones remain
to be tested including the Fortuna, Karen, and Culebra Zones.
Significantly, previous drilling completed by Golden Star Resources at
Culebra intersected 42.5m grading 2.50 g/t Au, 87.7m at 1.63 g/t Au and
10.12 g/t Au over 6.5m. Drilling will commence shortly on these targets.

Three drills are active on the Property testing the extensions of the
Enoc, Olga and Elisa zones. A preliminary inferred resource calculation
will be established by an independent qualified person following
completion of the current phase of drilling in the second quarter of
2005.

Additional details on the Increible 6 Gold Project including property
geology and mineralization as well as maps showing the location of the
mineralized zones are available on the Company's web site at
www.menaresources.com.

Drilling was conducted by Major Drilling of Moncton, New Brunswick,
Canada and RS Perforaciones of Ciudad Bolivar, Venezuela. All drill core
sampling has been completed using industry standard practices and one
half of the core remains for inspection and reference.

Primary sample analyses have been conducted at Balandria's Emilia
Facility assay lab, Venezuela, with a regular series of checks and
duplicates analysed by SGS Labs of Toronto, Ontario, Canada. Additional
QA/QC for a portion of the drilling program involved the use of SGS as
primary lab including the preparation and analyses of the drill samples
with corresponding check analyses completed at the Emilia Lab. Further
check assays of selected samples have been completed at Triad Labs, El
Dorado, Venezuela. A review of the QA/QC results shows excellent
repeatability between the various labs and no significant bias. All
results are considered highly reliable. Sample rejects for all drill
samples are stored in Mena's secure facilities in Tumeremo, Venezuela,
and will continue to be available for any further testing which may be
required. All QA/QC has been completed under the direction of G.F. Smith
of Mena Resources.

Qualified Person - Gregory F. Smith, PGeo is the Qualified Person as
defined by National Instrument 43-101 responsible for the technical data
reported in this news release.

Mena is a junior mining company focusing on gold and base metal
exploration in Latin America. The Company currently has projects in
Venezuela, Chile, and Honduras and is listed on the TSX Venture Exchange
under the symbol MEA.

MENA RESOURCES INC.

Per: "signed"

Mario Szotlender, President



Mena Resources Inc. / Balandria Limited Joint Venture
Increible 6 Project, Venezuela
(as of February 28, 2005)
Drill Results

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DDH total Zone sampling Gold zones
# length name status from to m Au g/t
--------------------------------------------------------------------
--------------------------------------------------------------------
CRISTINA
ddhCr-02 69.0m Cristina complete 58.0 61.5 3.5 2.09
ddhCr-03 79.5m Cristina complete 22.0 39.0 2.00 1.77
58.0 59.0 17.0 3.74
58.0 59.0 1.0 2.93
ddhCr-04 58.5m Cristina complete 36.0 49.0 13.0 3.53
ddhCr-05 57.0m Cristina complete 21.0 25.5 4.5 0.59
48.0 51.0 3.0 0.56
ddhCr-06 72.5m Cristina complete 60.6 69.5 9.5 18.08
ddhCr-07 75.0m Cristina complete 49.5 55.5 6.0 16.72
67.0 72.0 5.0 0.64
ddhCr-08 73.5m Cristina complete No significant values
ddhCr-09 70.5m Cristina complete No significant values
ddhCr-15 65.0m Cristina assays pending
ddhCr-16 144.0m Cristina assays pending
ddhCr-27 174.0m Cristina assays pending
ddhCr-28 180.0m Cristina complete 0.0 2.0 2.0 4.99
128.0 135.0 7.0 1.60
36.0 49.0 5.0 1.15
155.0 171.0 16.0 0.46
ddhCr-37 184.5m Cristina partial 104.0 106.0 2.0 1.75


INGRID
ddhIN-07 54.0m Ingrid complete No significant values
ddhIN-10 66.0m Ingrid complete 20.0 24.0 4.0 3.53
46.5 50.0 3.5 1.38
ddhIN-06 63.0m Ingrid complete 7.0 8.0 1.0 3.43
25.0 52.5 27.5 1.88
59.0 62.0 3.0 0.98
ddhIN-11 54.0m Ingrid complete 45.0 51.0 6.0 5.54
ddhIN-05 66.0m Ingrid complete 26.0 29.0 3.0 1.58
ddhIN-12 48.5m Ingrid complete 0.0 4.0 4.0 2.11
ddhIN-04 66.0m Ingrid complete 36.0 38.0 2.0 9.27
58.0 65.0 0.5 8.40
58.0 65.0 7.0 1.03
ddhIN-13 54.0m Ingrid complete 12.0 13.0 1.0 6.27
20.0 22.5 2.5 2.63
ddhIN-03 55.5m Ingrid complete 12.0 17.0 5.0 0.96
ddhIN-14 66.0m Ingrid assays pending
ddhIN-02 61.5m Ingrid complete 37.0 56.0 19.0 6.87
ddhIN-15 61.5m Ingrid complete 20.0 21.0 1.0 1.40
41.0 45.0 4.0 1.20
55.5 62.0 6.5 0.99


ELISA
ddhEl-07 54.0m Elisa complete 19.0 20.0 1.0 2.57
ddhEl-10 88.5m Elisa complete 47.0 62.5 15.5 4.63
72.0 75.0 3.0 1.78
ddhEl-06 54.5m Elisa complete 43.0 52.5 9.5 0.54
ddhEl-11 54.0m Elisa complete 43.5 50.0 6.5 0.90
ddhEl-05 55.5m Elisa complete 42.0 54.0 12.0 0.44
ddhEl-12 93.0m Elisa complete 0.0 7.0 7.0 0.97
ddhEl-04 60.0m Elisa complete No significant values
ddhEl-13 NOT DRILLED
ddhEl-03 51.0m Elisa complete 32.0 33.0 1.0 1.3
ddhEl-14 72.0m Elisa complete No significant values
ddhEl-02 67.5m Elisa complete 8.0 13.5 5.5 1.45
1.5 2.50
ddhEl-15 75.0m Elisa complete No significant values
ddhEl-20 194.5m Elisa complete 19.0 23.0 4.0 6.02
45.0 46.5 1.5 5.20
64.0 67.5 3.5 1.31
112.0 123.0 11.0 2.81
142.0 153.0 11.0 4.25
ddhEl-17 172.5m Elisa assays pending
ddhEl-21 148.5m Elisa assays pending
ddhEl-26 172.5m Elisa assays pending
ddhEl-27 163.5m Elisa assays pending
ddhEl-30 217.5m Elisa assays pending


ENOC
ddhEn-01 46.4m Enoc complete 10.0 11.0 1.0 3.33
ddhEn-02 46.9m Enoc complete 35.2 37.0 1.8 5.31
ddhEn-03 47.0m Enoc complete No significant values
ddhEn-03a 40.5m Enoc assays pending
ddhEn-04 64.0m Enoc assays pending
ddhEn-07 47.4m Enoc assays pending
ddhEn-08 36.8m Enoc assays pending
ddhEn-08a 41.2m Enoc assays pending


OLGA
ddhOL-04 70.7m Olga complete 30.0 35.95 5.95 0.93
61.5 65.3 3.8 2.49
ddhOL-05 89.7m Olga assays pending
ddhOL-06 48.3m Olga assays pending
ddhOL-07 78.2m Olga assays pending
ddhOL-08 81.0m Olga assays pending
ddhOL-09 70.0m Olga assays pending
ddhOL-10 54.0m Olga assays pending
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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Mena Resources Inc.
    Mario Szotlender
    President
    (604) 682-1545
    marios@goldgroup.com
    or
    Mena Resources Inc.
    Michael Winn
    Director
    (949) 494-6431
    mwinn@earthlink.net
    The TSX Venture Exchange has not reviewed and does not take
    responsibility for the adequacy or accuracy of this release.