Vena Resources Inc.
OTC Bulletin Board : VNARF

Vena Resources Inc.

December 21, 2006 17:03 ET

Vena Resources Acquires Pucara Gold/Copper/Zinc Project in Peru

TORONTO, ONTARIO--(CCNMatthews - Dec. 21, 2006) - Vena Resources Inc. (TSX VENTURE:VEM)(OTCBB:VNARF)(FRANKFURT:V1R)(LIMA:VEM) announces that it has acquired a group of concessions in the Pucara area of southern Peru. Subject to regulatory approval, the Company has agreed to grant 100,000 shares of Vena to the owners of these concessions plus an upfront payment of US$75,000. Additional shares and cash payments will be granted if key milestones are reached annually, and a US$1/tonne cash payment up to 10 million tones as defined by a future feasibility study will be granted.

The Pucara project has been mined for 12 years by a small miner. Most recently, Pucara has been explored by CVRD of Brazil, completing 1,600 meters in 8 diamond drilled holes. The mineralization is mainly veins with widths varying from 1 to 5 meters and disseminated structures containing gold and copper. The principal veins are Santo Tomas and Esperanza; both outcrop for more than 2 kilometers. The Gladys disseminated structure located in the center portion of the project outcrops for at least 90 meters by 17 meters, containing chalcopyrite and gold with some galena and sphalerite. Several structures with disseminated mineralization are also present along the northern boundary of the project. Vena plans to retain a metallurgical consultant to test the oxide mineralized portion of the Gladys structure for a possible flotation recovery scheme. If successful, this would be followed by a standard flotation recovery system for the sulfide portion of the Gladys mineralized body.

After a review of the property by Vena personnel as well as a consulting geologist, the Company is applying for permits to drill 4,200 meters in 14 targets. The depth of the holes will range from 150 and 300 meters. This will expand on the work done by CVRD of Brazil and lead to a 43-101 report on the prospect.

William R. Henkle, Jr. P.Geo., Vena's Qualified Person as defined by NI 43-101, a Professional Geologist will visit the property in early January. Vena expects to provide a more in-depth update of the Pucara gold/copper project in January when Vena's Qualified Person and field crews complete their visits and provide a current assessment and a short term development plan.

About Vena Resources Inc.

Vena Resources is dedicated to building capital appreciation and creating long term shareholder value by developing the mineral resources and social welfare of Peru. Vena Resources commitment will be demonstrated by deploying its financial resources to aggressively acquire and advance high quality people and assets throughout the country.

Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

Shares Outstanding: 54,285,835

Fully-Diluted: 61,437,085

The TSX Venture Exchange does not accept the responsibility for the adequacy or accuracy of this release.

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