Ventana Gold Corp.
TSX : VEN

Ventana Gold Corp.

September 30, 2010 08:30 ET

Ventana Intersects 15.2 Metres of 13.48 Grams Per Tonne Gold at Newly Acquired La Baja Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 30, 2010) - Ventana Gold Corp. (TSX:VEN) ("Ventana" or the "Company") is pleased to announce drill results from six additional exploration holes at the La Bodega gold project in Colombia. A complete listing of drill intercepts is available on the Company's website at www.ventanagold.com.

Four of the new holes reported here (278, 291, 293, and 307) are infill holes in the La Mascota zone; one of the new holes (290) is located on the newly discovered Aserradero zone southeast of La Mascota; and one (hole 297, section 9150E) is the initial hole into mineralization on the La Baja tenement situated between the La Bodega and El Cuatro properties. Refer to the attached map and cross sections for details: http://media3.marketwire.com/docs/1v929.pdf

The initial drill hole into mineralization on the La Baja tenement (hole 297) returned 15.2 metres grading 13.48 grams per tonne gold. This hole was drilled 200 metres along strike to the southwest of the defined La Mascota mineralization and, as predicted, indicates the structure continues to be strongly mineralized on the La Baja tenement.

In select portions of the La Mascota zone, Ventana has conducted further infill drilling to 25 metre spacing. Results continue to confirm continuity along the dip of the mineralization and have increased the Company's confidence that mineralization remains robust at depth. In addition, drilling has been encountering zones of bonanza-grade mineralization. Hole 291 on section 9675E intercepted two structures returning 14.0 metres grading 6.85 grams per tonne gold and 8.2 metres grading 22.36 grams per tonne gold, located approximately 50 metres further down-dip of the previously reported hole 280 which returned 21.4 metres grading 11.90 grams per tonne gold. Hole 307 on section 9650E intercepted 27.4 metres grading 13.66 grams per tonne gold, which is between the previously reported holes 77 (21.0 metres grading 6.20 grams per tonne gold) and 128 (19.0 metres grading 27.05 grams per tonne gold). Hole 293 on section 9600E returned 37.3 metres grading 5.76 grams per tonne gold.

Drilling continues with ten rigs and includes infill drilling in the main La Mascota zone, initial drilling of the La Baja tenement, infill and step-out drilling in the El Cuatro tenement, Las Mercedes zone and Aserradero zone, and infill and deep drilling in the La Bodega zone.

Project Update

Ventana is commencing a 4 metre wide by 4.5 metre high exploration tunnel to provide underground access to the La Mascota mineralization from the surface. This tunnel will run parallel to the mineralization's strike in the foot-wall host rock to a depth of 100 metres and then cut across the deposit into the hanging-wall host rock. Refer to the attached image: http://media3.marketwire.com/docs/2v929.pdf

The tunnel will be used to conduct exploration drilling from underground for further definition of the mineralization at depth and infill drilling of the currently defined mineralization. In addition, this underground access will allow the extraction of mineralization for ongoing metallurgical testing.

The tunnel contract is being finalised and Ventana expects the contractor to begin mobilizing at site in November 2010. The entire tunnel consists of 3,900 metres of development and is expected to take 12 months to complete. However, Ventana expects to initiate exploration drilling from the underground by the second quarter of 2011.

The Company is also upgrading the La Baja process plant that was acquired as part of the recent purchase of the La Baja tenement. Ventana has already acquired a ball mill and gravity circuit and is in the process of purchasing additional components to replicate the metallurgical process circuit that has been designed for the recovery of gold, silver and copper from the La Bodega project's full scale process plant. Refer to the attached image: http://media3.marketwire.com/docs/3v929.pdf. Upgrade work is scheduled to start in December 2010 with JDS Engineering and the pilot process plant is expected to be commissioned in the second quarter of 2011. This pilot facility will be used to continue metallurgical optimization work on the La Mascota and La Bodega mineralization and the plant will operate under the existing La Baja operating permit.

Ventana intends to release an NI 43-101 report containing its first mineral resource estimate and scoping/prefeasibility study in November 2010.

Select intercepts from the reported drill holes are reported below:

Drill Hole #   From (metres)   To (metres)   Interval (metres)   Gold (g/t)   Silver (g/t)   Copper (%)
DDH-10-L278   114.00   115.00   1.00   9.04   186.00   1.10
    121.92   125.00   3.08   2.91   43.76   0.14
    153.00   155.00   2.00   2.03   14.30   0.02
    214.00   224.00   10.00   2.43   29.97   0.19
    337.00   357.00   20.00   4.33   32.38   0.23
includes   339.00   342.00   3.00   17.32   121.00   0.72
    362.00   376.00   14.00   2.87   23.32   0.19
includes   370.00   371.00   1.00   22.70   28.00   0.06
    385.00   404.50   19.50   2.75   25.10   0.18
    415.00   426.00   11.00   2.05   10.69   0.05
    435.00   443.00   8.00   2.18   8.44   0.04
    454.00   456.00   2.00   2.77   11.64   0.04
    507.00   592.00   85.00   3.03   24.39   0.13
includes   537.00   542.00   5.00   6.84   63.78   0.36
and   573.52   579.50   5.98   14.40   169.90   0.84
    602.00   603.00   1.00   5.00   15.20   0.03
DDH-10-L290   33.53   38.50   4.97   5.56   4.38   0.01
    250.00   251.00   1.00   2.74   13.45   0.41
DDH-10-L291   96.01   97.00   0.99   10.20   1.86   0.01
    168.00   169.00   1.00   6.43   164.00   0.49
    201.00   204.00   3.00   3.99   28.71   0.09
    235.00   249.00   14.00   6.85   43.40   0.32
includes   243.00   246.00   3.00   25.70   176.67   1.34
    265.00   274.00   9.00   4.82   6.74   0.04
    278.00   279.00   1.00   2.61   11.85   0.13
    307.00   315.16   8.16   22.36   26.72   0.13
Hole 291 bottomed in mineralization
DDH-10-L293   74.00   76.00   2.00   3.70   23.93   0.03
    149.00   152.50   3.50   5.63   61.84   0.06
    237.00   274.32   37.32   5.76   43.44   0.34
includes   259.00   261.00   2.00   47.30   453.00   2.90
Hole 293 bottomed in mineralization
DDH-10-L297   109.20   110.20   1.00   2.97   29.70   0.03
    295.80   311.00   15.20   13.48   25.03   0.05
includes   299.00   301.00   2.00   40.40   13.50   0.01
DDH-10-L307   157.00   184.38   27.38   13.66   27.71   0.20
includes   176.00   182.00   6.00   53.58   44.44   0.22
    190.00   192.00   2.00   31.45   79.00   0.07
Drill intercepts are based on a 0.5 gram/tonne gold cut-off with no upper cut. Drill intercept lengths are down-hole lengths of mineralization with true widths ranging between 20% -90% of the reported down-hole lengths depending on hole angle.

Review by Qualified Person, Quality Control and Reports

The results of Ventana's drilling program have been reviewed, verified and compiled by Jon Lehmann, L.P.G., a qualified person as defined by National Instrument 43-101 (NI 43-101). Mr. Lehmann has over 25 years of mineral exploration experience, is a Licensed Professional Geologist in the State of Washington and a member in good standing of the Canadian Institute of Mining and Metallurgy.

To ensure reliable sample results Ventana has a rigorous QA/QC program in place that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates, and certified reference standards in each batch of samples. Core is photographed and sawed in half with one half retained in a secured facility for verification purposes. Sample preparation (crushing and pulverizing) is performed at an independent local laboratory established by a joint effort between the regional environmental permitting agency and the German Geological Survey, and at the Colombian preparation laboratory of ALS Chemex Laboratories. Prepared samples are direct-shipped to ALS Chemex Laboratories in Lima, Peru, an ISO 9001:2000 certified laboratory, for analysis.

Independent NI 43-101 technical reports have been prepared by Samuel Engineering, Inc., dated May 1, 2010 for the La Bodega project and by EurGeol Miller O'Prey, P.Geo., dated June 14, 2008 for the nearby California-Vetas project, to provide an updated review of the exploration activities that have occurred on the projects. These reports are posted on Ventana's website at www.ventanagold.com.

About Ventana

Ventana is a Vancouver-based mineral exploration and development company with mineral rights to 4,590 hectares of exploration property in northeastern Colombia. The Company's flagship La Bodega project in northeastern Columbia contains multiple high-grade zones of gold, silver and copper mineralization occurring in north-northwest dipping parallel-sheeted vein zones, breccias and mineralized faults within a broad, northeast trending regional fault zone. The La Bodega project has excellent road access and is close to existing infrastructure including power and water. The Company is conducting an aggressive exploration program and is advancing engineering studies to develop the deposit.

Ventana's shares trade on the Toronto Stock Exchange under the symbol VEN.

For additional information please visit www.ventanagold.com.

Cautionary Statement Regarding Forward-looking Information

Certain of the statements made and information contained in this press release may constitute forward-looking information within the meaning of applicable securities legislation. All information and statements which are not historical fact constitute forward-looking information and, in many cases, can be identified by words such as "may", "will", "expect", "plan", "anticipate", "believe", "estimate", "potential", or other similar terminology. The forward-looking information contained in this press release is based on the reasonable expectations and beliefs of management as at the date of this press release and involves numerous assumptions, known and unknown risks and uncertainties, both general and specific to Ventana and the industry in which the Company operates. Such assumptions, risks and uncertainties include, but are not limited to future prices of gold, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated as well as those factors disclosed in Ventana's documents filed from time to time with the securities regulators in the provinces of British Columbia, Alberta and Ontario. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of the Company, or industry results, may vary materially from those described in this press release. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as otherwise required by law, Ventana does not intend to and assumes no obligation to update or revise forward-looking information, whether as a result of new information, plans, events or otherwise.

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