Ventana Gold Corp.

Ventana Gold Corp.

April 21, 2008 18:46 ET

Ventana Arranges and Closes $450,000 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 2008) - Ventana Gold Corp. ("Ventana") is pleased announce the arrangement and closing of a non-brokered private placement (the "Private Placement") of 450,000 units at $1.00 per unit for total gross proceeds of C$450,000. Each unit is comprised of one common share and one half of a transferable share purchase warrant. One whole share purchase warrant (the "Warrant") entitles the holder to acquire one common share at a price of $1.50 for a period of one year from the date of issuance of the Warrants, subject to an accelerated exercise provision. The provision states that if the volume weighted average trading price of the common shares of the Company, as traded on a stock exchange or trading and quotation system that the Company's shares are then trading on, exceeds $2.25 per share for at least 30 consecutive trading days, the Company shall have the right, exercisable within 30 days thereafter, to give notice to each Warrant holder requiring the exercise of the Warrants within a thirty (30) day period. If the Company exercises such right, the Warrants will, if not exercised by the Warrant holder in accordance with their terms and conditions, expire at the end of such (30) day period. Such notice to the Warrant holders may not be given until the date that is four months and one day from the issuance of the Warrants. The Warrants issued in connection with the Private Placement expire on April 21, 2009.

Common shares and Warrants issued in connection with the Private Placement have a hold period expiring on August 22, 2008. A finder's fee equal to 7% of the total gross proceeds is payable in cash.

Net proceeds from the private placement will be used to fund exploration and general working capital.

ABOUT VENTANA GOLD CORP. - Ventana currently holds 3,788 hectares of exploration property in the California-Vetas gold district in Colombia, of which 3,610 hectares are wholly-owned with the remainder under option to acquire a 100% interest. The Company is currently drilling at La Bodega, a property lying adjacent to Greystar Resources' Angostura gold-silver deposit.

On behalf of the Board of Directors of Ventana,

Donald B. Clark, President and Director


The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in Ventana's latest quarterly report and management discussion and analysis. Ventana assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

No stock exchange has reviewed or accepts responsibility for the adequacy or accuracy of this news release.

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