Ventana Gold Corp.

Ventana Gold Corp.

April 20, 2007 13:24 ET

Ventana Gold Corp.: Update on La Bodega Exploration Program in Colombia


VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 20, 2007) - Ventana Gold Corp. ("Ventana") is pleased to provide an update on its ongoing exploration program in the historic California-Vetas gold mining district located in northeast Colombia. Exploration activities to date have been concentrated on the 178.6-hectare La Bodega property situated immediately adjacent and along strike to Greystar Resources' giant Angostura gold deposit, which contains a National Instrument 43-101 compliant indicated resource of 173 million tons at an average grade of 1.33 g/tonne Au (7.42 million ounces) plus an inferred resource of 81 million tons at an average grade of 1.62 g/tonne Au (4.22 million ounces) as reported by Greystar in November 2006. Resource definition drilling by Greystar has advanced up to the La Bodega property line where gold/silver mineralization appears to continue into the La Bodega property.

President Don Clark says, "We are very pleased with the drilling indications and sample results we have seen so far, which have met and in certain instances exceeded our expectations. With initial drill data confirming extensions of the Angostura orebody into the La Bodega property, the Company is now looking to secure the necessary financing to complete the drill program in the coming months. We are also taking steps to obtain a listing on a Canadian stock exchange."

Exploration Update

The Ventana exploration program at La Bodega initially focused on systematic channel sampling of underground workings on the property as well as the limited roadcut and outcrop exposures in an initial 750 meter by 250 meter target area extending southwest from the Greystar property line. This initial target area is defined by a broad, northeast trending structural zone of intense phyllic and argillic alteration hosting parallel sheeted vein zones, breccias and mineralized faults within which numerous historic and currently productive underground gold mine workings are distributed. Ventana initiated diamond core drilling in late 2006 to test the gold potential of this initial target area with 18 holes totalling 4,523 meters drilled to date.

Ongoing, property-wide geologic mapping and channel sampling has resulted in the identification of other areas of gold mineralization in addition to, and extending the initial target area at La Bodega. The Las Mercedes area is situated approximately 500 meters south of the initial target area. It consists of an east-northeast trending zone of strongly altered quartz monzonite intrusive hosting similar sheeted vein zones, breccias and mineralized faults. Approximately 400 meters of artisanal underground workings have been developed at Las Mercedes, distributed along 300 meters of strike length, remaining open along strike in both directions. Assay results of underground and surface continuous channel samples across the vein trends have confirmed the presence of potential bulk-tonnage widths of gold mineralization at Las Mercedes. The salient bulk-tonnage gold assay results of continuous channel sampling at Las Mercedes are shown in the following table:

Sample Estimated True
Description Length Average Grade (Au) Thickness
Resbaladero x-cut tunnel 9 meters 8.31 g/tonne 9 meters
El Tierrero x-cut tunnel 27 meters 4.59 g/tonne 21 meters
Cruzada x-cut tunnel 39 meters 1.71 g/tonne 28 meters
Principal x-cut tunnel 24 meters 3.31 g/tonne 20 meters
Outcrop above Principal x-cut 24 meters 2.80 g/tonne 15 meters
La Virgen outcrop 39 meters 1.83 g/tonne 28 meters

In tunnels following the veins, 1.0 to 1.5 meter channel samples were taken across the vein structure on 3 to 5 meter spacings in an effort to define the location of higher grade shoots that may reflect important structural intersections within the Las Mercedes target area. In the La Virgen tunnel, a shoot averaging 38.88 grams/tonne (g/t) gold (Au) over a 30 meter strike length was identified and 70 meters to the west, in the Cruzada tunnel, a shoot averaging 15.85 g/tonne Au over an 18 meter strike length was identified.

Another new area, La Casita, was identified 400 meters to the southwest and along strike of the initial target area and appears to extend the initial target area strike length from 750 to 1,150 meters. At La Casita, roughly 100 meters of tunnels have been developed to exploit four parallel veins in a zone of silicified intrusive exposed over a minimum 10 meter width. In these tunnels, 1.0 to 1.5 meter channel samples were taken across the vein structure on 5 to 7 meter intervals. The assay results of 14 such vein samples ranged from 0.22 g/tonne Au to greater than 100 g/tonne Au and averaged 20.39 g/tonne Au.

Regional stream sediment sampling was initiated last month to assess the exploration potential and develop additional target areas on Ventana's extensive land position in the district. Approximately 20% of this sampling program has been completed with sample results pending.

Qualified Person

The results of the company's Phase I exploration program have been compiled and reviewed by consulting geologist Jon Lehmann, L.P.G. of the State of Washington, a qualified person for the purpose of National Instrument 43-101. Mr. Lehmann has over 25 years of mineral exploration experience, and is a member in good standing of the Canadian Institute of Mining and Metallurgy.

ABOUT VENTANA GOLD CORP. - Ventana currently holds 3,888 hectares of exploration property in the California-Vetas gold district in Colombia, of which 3,700 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.

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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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