Vena Resources Inc.
OTC Bulletin Board : VNARF

Vena Resources Inc.

November 06, 2006 09:40 ET

Vena Resources Expands Board of Directors and Grants Options

TORONTO, ONTARIO--(CCNMatthews - Nov. 6, 2006) - Vena Resources Inc. (TSX VENTURE:VEM)(OTCBB:VNARF)(FRANKFURT:V1R)(LIMA:VEM) is pleased to announce that James Fairbairn, Vena's CFO and Ken Grace have been appointed to its board of directors. Jim Fairbairn has close to 20 years experience in the junior mining industry and has been an officer of the Company since its inception. Mr. Grace is a geologist with over 40 years of experience in the mining industry. He holds a Bachelor and a Masters degree and is a registered Professional Engineer in Canada. As a co-founder of the consulting group Micon International Limited, Ken has been involved in the evaluation of mining projects worldwide, including base and precious metals, industrial minerals and coal and uranium. He acted as Technical Advisor to the OSC-TSE Mining Standards Task Force, the recommendations of which led to the establishment of National Instrument 43-101.

In other news, Vena has received formal permission from the community of Quiparacra to begin the geological exploration and development phase of the Huachon high-grade gold project in central Peru. The Company plans to rehabilitate and expand a 300 meter adit, leading to a bulk sample and metallurgical study of the vein structures shortly.

The Company has also granted a total of 1,425,000 options exercisable at 60 cents to directors, officers, employees and consultants to the Company in Canada and Peru, including 250,000 options to Global Business Partners AG (GBP) who have been appointed as Investor Relations Consultants to the Company in Europe. GBP will not receive any other form of compensation and their appointment is subject to regulatory approval.

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: 50,209,411

Fully-Diluted: 61,532,085

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

Contact Information