Vena Resources Inc.
OTC Bulletin Board : VNARF

Vena Resources Inc.

February 26, 2007 15:54 ET

Vena Resources Provides Update on Pucara Au/Cu and Azulcocha Zinc Projects in Peru

TORONTO, ONTARIO--(CCNMatthews - Feb. 26, 2007) - Vena Resources Inc. (TSX VENTURE:VEM)(OTCBB:VNARF)(LIMA:VEM)(FRANKFURT:V1R) announces that following a visit to Pucara by William R. Henkle, Jr. P.Geo., a Professional Geologist and Vena's Qualified Person as defined by NI 43-101, the Company is pleased to report the results of a composite sample of the tailings from a rudimentary gravity concentration mill which the former operator used to process mineralized material mined in a highly selective fashion from the Gladys Pit in the Pucara project.

The composite sample was taken from a stockpile of approximately 1,500 tonnes of tailings. The tailings had passed through a crude gravity concentration circuit that reportedly removed about 1.5 grams/tonne (0.043 opt) of flake gold from the pulverized rock. Gold complexed with copper minerals, copper minerals and silver were not removed by this milling circuit, resulting in highly mineralized tailings.

Results of the assays, as reported by American Assay Labs of Reno, Nevada follow:

Gold Copper Silver Barium Lead Zinc
gpt (%) gpt (%) (%) (%)
2.82 4.6 23.4 9.9 0.46 0.14

While the tonnage of the tailings sampled is rather small, the sampling results can be considered as representative of the tenor of the mined rock from the last 1,500 tonnes of material mined from the Gladys Pit. In essence, Vena's random composite sampling of the tailings can be thought of as composite sampling of a 1,500 tonne bulk sample from the Gladys Pit.

In summary our sampling indicates that 1,500 tonnes of mineralized material recently mined from the Gladys Pit had a tenor of at least 2.82 grams/tonne Au which was not amenable to recovery by crude gravity separation methods. An additional 1.5 grams/tonne Au was reportedly recovered by crude gravity separation methods. This infers an initial head grade for the Gladys Pit in the order of 4.3 gram/tonne Au and 4.6% Cu.

The Gladys Pit is at present about 30 metres in diameter by 20 metres deep pit in the stockwork zone of the more than 200 metres long Gladys Structure. Field relationships indicate that the floor of the present pit (approximate elev. 3930m) is at the boundary of the oxide zone and the supergene enriched zone. CVRD's drill hole DDH - 2 intercepted 70 metres of hypogene zone mineralization. This drill hole showed that the supergene zone bottoms out by elevation 3,890 metres, some 40 metres below the current pit floor. The exact thickness and strike length of the supergene enriched zone is still undetermined and will be drill tested as soon as permits are in. It is important to remind readers that CVRD's drill hole DDH-2 intersected several poly metallic veins below the Gladys structure -- the most important being one for 4 metres from 84-88 metres with more than 1% Cu and 2.7 gpt Au.


Vena is pleased to announce the following updates for the Azulcocha Zinc project:

- The Company has begun a 54,000 metre geophysics (magnetometry and IP) campaign in the Azulcocha West project as part of the Joint Venture agreement Vena has with Minera Quenuales of the Glencore Group. The extensive geochem and geophysics campaign as well as reviews of historical drilling information collected thus far will lead to a significant drilling campaign in the near term. The first targets are the Waie and El Triunfo concessions where historical drilling information showed significant intersects as previously disclosed on Vena's press release dated September 18, 2006.

- A 1,500 tonne-per-month (tpm) pilot mill to test metallurgy of the underground mineralization will be operating in May Historical mill efficiency should be improved before final modular mill design is completed. Any Zinc concentrate produced by the pilot mill will be sold to Glencore at market rates.

- While confirmation drilling is ongoing, a total of 1,200 tonnes of mineral containing high-grade Zinc will be sold to Glencore in February. The Company is working to increase mining capacity monthly and by June, the production rate should reach 3,000 tpm with the goal of reaching 15,000 tpm by the end of 2007.

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.

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Fully-Diluted: 61,388,835

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

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