Vena Resources Inc.
OTC Bulletin Board : VNARF
FRANKFURT : V1R
TSX : VEM

Vena Resources Inc.

September 17, 2010 23:00 ET

Vena Settles Draw Down on Standby Equity Distribution Agreement

TORONTO, ONTARIO--(Marketwire - Sept. 17, 2010) - Vena Resources Inc. (the "Company" or "Vena") (TSX:VEM)(LIMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF) announces that it has settled its previously announced draw down of $150,000 under its standby equity distribution agreement ("SEDA") with YA Global Master SPV, Ltd. ("YA Global"), a fund managed by Yorkville Advisors, LLC.

Under the draw down, the Company issued 829,537 common shares at a price of $0.1808 per common share being 92.5% of the average daily price of the common shares over the 10 consecutive trading days following Vena's notice of its intention to draw down on the SEDA.

The Company will use the proceeds to commence a resource delineation program via an underground development program, as well as a new permitting process and metallurgical tests at the Pucara polymetallic project and for general and administrative expenses.

On May 5, 2010, Vena filed a short form base shelf prospectus with the securities commissions of British Columbia, Alberta and Ontario. In addition, Vena has filed a prospectus supplement to its short form base shelf prospectus to qualify the shares issued to YA Global. Copies of the prospectus supplement and accompanying base prospectus are available on SEDAR at www.sedar.com or may be obtained upon request to the Company.

In addition, Bradford Bachinski Limited, Exempt Market Dealer, received a cash commission equal to $12,712.50 and broker warrants to acquire 62,215 common shares at an exercise price of $0.24 for 15 months from the date of issuance of the broker warrants.

Securities Laws Matters

Securities legislation in certain of the provinces of Canada provides purchasers with the right to withdraw from an agreement to purchase securities. This right may be exercised within two business days after receipt or deemed receipt of a prospectus and any amendment. The securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revisions of the price or damages if the prospectus and any amendment are not delivered to the purchaser, provided that the remedies for rescission, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. However, such rights and remedies will not be available to purchasers of common shares distributed under this prospectus because the prospectus will not be delivered to purchasers, as permitted under a decision document issued by the Ontario Securities Commission on March 16, 2010.

The securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revisions of the price or damages if the prospectus and any amendment contain a misrepresentation, provided that the remedies for rescission, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. Such remedies remain unaffected by the non-delivery of the prospectus, as permitted under the decision document referred to above.

The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province for the particulars of these rights or consult with a legal adviser.

About Vena's Standby Equity Distribution Agreement (SEDA)

On March 31, 2010, Vena entered into the SEDA with YA Global Master SPV Ltd., a fund managed by Yorkville Advisors, LLC. Under the agreement, YA Global has committed to provide up to $10 million of capital for a period of 60 months, at Vena's discretion, through the purchase of newly issued common shares of the Company.

About Vena Resources

Vena Resources Inc. is a Canadian mining company focused on the exploration and development of Peru's mineral potential. Employing a model of diversification across metals and regions in Peru to mitigate investment risk, the Company has four divisions: Mining, Clean Energy, Precious Metals and Base Metals. Together with the Company's strategic partners, Cameco, Gold Fields, Glencore and Trafigura, Vena will advance its significant portfolio of almost 75,000 hectares this year. Through its board of directors and advisors, Vena Resources possesses a unique quality of skills and experience in management, mining and finance globally.

For further information on Vena Resources, please visit the Company website at www.venaresources.com.

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.

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

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