Vena Resources Inc.
OTC Bulletin Board : VNARF

Vena Resources Inc.

October 12, 2006 17:20 ET

Vena Resources Finds Uranium Mineralization Near Surface in Macusani

TORONTO, ONTARIO--(CCNMatthews - Oct. 12, 2006) - Vena Resources Inc. (TSX VENTURE:VEM)(LIMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF) is pleased to announce that initial drilling on the Concharrumio Prospect in Macusani in Puno, Peru intersected uranium mineralization very near surface typical of the Macusani area.

A total of nine shallow holes (approx. 50 meters in depth) drilled from four platforms approximately 100 meters apart tested uranium mineralization exposed at six trenches as well as radiometric and radon anomalies over a 300x400 meter target (see attached map). Most of the drill holes intersected a system of mineralized thin fractures (less than 10cm wide) and finer-grained ignimbrite tuffs and breccias. Drill intercepts of interest range 0.001%-0.322% U3O8 over a 1 meter assay interval. For example, drill-hole CO2-1 cut four high-grade but thin fractures from surface to 12 meters below ground averaging 0.04% U3O8 for the entire intersect, inferring a possible low grade high tonnage uranium system. The complete assay database will be posted on the Company's web site.

Drilling thus far has been focused on three of 78 targets as part of Vena's current exploration program in four regions of Puno. The project area comprises 15,500 hectares of 100% controlled land in Puno, Peru. The drilling was intended to focus on a very small area of the Macusani area (Concharrumio prospect) to better understand the geology near surface and the depositional controls. Given the extensive area and upsize potential in all four areas of Puno, Vena will continue to explore Macusani, Munani, Lagunillas and Cerro Blanco to better assess their true potential.

The drilling program and geological studies in the Macusani area were supervised by Gordon Grams, P.Eng. Vena's Qualified Person as defined by NI 43-101. Core samples were cut with a diamond saw, with one-half of the core placed in sealed bags and shipped to Activation Labs Ltd. ("ActLabs") in Lima, Peru, an ISO certified assay laboratory. Actlabs performed the analysis in their facilities in Ancaster, Ontario, Canada.

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.

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To view the Macusani Uranium Area Concharrumio West please click on the link below:

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