Vena Resources Inc.
TSX VENTURE : VEM

Vena Resources Inc.

October 24, 2005 08:00 ET

Vena Resources Intersects 26.9% Zinc in Nested Veins at Azulcocha

TORONTO, ONTARIO--(CCNMatthews - Oct. 24, 2005) - Vena Resources Inc. (TSX VENTURE:VEM)(LIMA:VEM) announces that it has encountered additional high-grade zinc and manganese mineralization at its Azulcocha polymetallic project. A full page cross-section graph of the underground workings is included on page 4 of this release. Thus far, the Company has made a number of initiatives on this project, including: announcement of the results of a pre-feasibility study on the one million tonnes of Zn/Mn stockpile resource with a net present value of US$37 million; commencement of a program to model the Gran Bretana mine based on complete mine plans; confirmation drilling of a block of mineralization in the mine; and performing a drilling campaign of nearby exploration targets.

Juan Vegarra, Chairman of Vena says: "We are excited by the success of the exploration team in increasing the potential for high grade zinc tonnage for our future underground mining operations. We plan to re-enter the old mine and drill a block of zinc/manganese mineralization and continue to drill additional exploration targets from surface. We are also evaluating several scenarios to begin reprocessing tailings resource which has been previously reported in a 43-101 report."

The work to reopen access to the underground sections of the existing mine has made portions of levels 40, 0 and -40 accessible to work crews. In order to verify the assay results from the original Gran Bretana mine drawings, systematic confirmation samples were taken of a mineralized zone and the results were compared against the historical sample grades provided by Minera Gran Bretana as shown on the table on the following page. Note that the samples were taken from the same general area only and so an exact duplication of results is not realistic. As indicated, the averaged values agree within a standard deviation, and it is concluded that the Minera Gran Bretana data can be used to build a predictive model of the mineralized zones within the mine.

Digitizing of the old mine and geology plans has been completed and a database of assay values and their associated coordinates has been generated. The Company is currently contracting to build a computer model of the Gran Bretana mine with a view to estimating the tonnes and grade of the potential remaining underground mineralization. As well, stations are being developed underground to drill a block of mineralized material located between the 0 and -40 levels (see Table 1 on the following page). This drilling will allow the calculation of an insitu mineral resource for this block of material and act as verification for the computer estimate described above.



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TABLE 1: ASSAY COMPARISONS
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VENA GRAN
BRETANA
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Sample % Zn % Zn
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AZ-N00-01 1.73 4.1
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AZ-N00-02 1.3 2.8
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AZ-N00-03 1.41 3.6
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AZ-N00-04 1.81 6.1
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AZ-N00-05 2.48 3.4
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AZ-N00-06 2.77 3.2
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AZ-N00-07 7.00 5.9
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AZ-N00-09 2.79 12.6
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AZ-N00-10 12.78 12.2
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AZ-N00-11 17.18 9.0
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AZ-N00-12 16.57 12.8
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AZ-N00-13 20.49 24.7
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Average 7.36 8.37
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Based on the pre-feasibility study and the exploration results to-date, the Company has procured a concentrate purchase letter of intent from a Swiss commodity trader. Vena has also opened discussions with local companies to rehabilitate the railway access between the mine and the central railroad and to provide sufficient electrical energy from the national grid which passes over the concessions.

The Company has started surface drilling of a nested vein structure. The veins outcrop as a series of 5 independent, parallel structures that appear to proceed from the regional Cochas Fault as do the nearby existing workings. Recent shallow drilling has intersected the veins with the results shown on Table 2 below.



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TABLE 2: RECENT DRILLING RESULTS
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Drill Hole From To Vein True Width Zinc Manganese
(distance) (distance) (meters) % %
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DDA-AZ4 0 10 2.0 26.90 1.88
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DDA-AZ5 0 10 1.5 11.30 1.59
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Murray Lytle, P.Eng., the Qualified Person on this project, has reviewed this technical information on behalf of the Company. All assay values presented in this news release were developed by ACTLABS Skyline Peru SA which is a wholly owned subsidiary of Activation Laboratories Ltd. The laboratory is certified by the Standards Council of Canada and is ISO 17025 compliant.

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. We seek Safe Harbor.

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: 42,612,894

Fully-Diluted: 52,251,584

To view a map of the drilling area please click on the following link:

http://www.ccnmatthews.com/docs/vem1024.pdf

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

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