Ventana Gold Corp.
TSX : VEN

Ventana Gold Corp.

October 13, 2010 11:55 ET

Ventana Reports Further Results From New Aserradero Target

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 13, 2010) - Ventana Gold Corp. (TSX:VEN) ("Ventana" or the "Company") is pleased to announce drill results from ten additional 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.

Two of the new holes (294 and 311) are located on the recently discovered Aserradero zone southeast of and parallel to La Mascota. Six of the additional holes reported here (305, 314, 316, 317, 318 and 321) are infill holes in the La Mascota zone; and two holes (286 and 310) are down-dip extensions of footwall mineralization in the La Bodega zone. Refer to the attached map and cross sections for details.

Results continue to improve at Aserradero. The latest drill intercepts on this new zone returned more encouraging results with hole 294 in section 0150E returning 5.0 metres grading 23.18 grams per tonne gold. Drilling in this zone is still in the early stages and data to-date is not yet sufficient to estimate the overall dip of this structure. As more data is collected, true widths will be provided for these intercepts.

More residual holes from the infill drilling in La Mascota were returned and continue to support the consistency and higher grade nature of the mineralization in this main zone. In section 9675E, Hole 305 returned 25.91 metres of 10.19 grams per tonne gold which included 5.0 metres of 21.57 grams per tonne gold and Hole 318 returned 9.0 metres grading 20.35 grams per tonne gold. Further, Hole 317 in section 9625E returned an intercept of 26.35 metres grading 8.95 grams per tonne gold. Holes 286 and 310 in section 0350E were drilled south of the La Bodega zone and returned lower grade values.

Ventana's forthcoming initial NI 43-101 mineral resource statement is based on available drill and assay data as of September 1, 2010. The holes reported subsequent to this date are not included in the resource calculation.

Select intercepts from the reported drill holes are reported below:

Drill Hole # From
(metres)
To
(metres)
Drill
Intercept
(metres)
True
Width
Gold
(g/t)
Silver
(g/t)
Copper
(%)
DDH-10-LB-286 25.00 26.00 1.00 0.5 8.58 6.00 0.02
  270.00 271.00 1.00 0.5 2.30 9.66 0.01
  290.00 294.00 4.00 2.1 6.79 8.81 0.01
  304.00 305.00 1.00 0.5 2.99 10.20 0.02
DDH-10-LB-294 39.00 41.00 2.00 1.5 2.02 5.80 0.01
  49.00 59.00 10.00 7.6 2.16 2.45 0.02
INCLUDES 52.00 53.00 1.00 0.8 10.45 1.84 0.03
  112.00 117.00 5.00 3.8 23.18 4.86 0.02
INCLUDES 115.50 117.00 1.50 1.1 74.50 5.93 0.01
  228.00 230.00 2.00 1.5 2.17 1.63 0.01
DDH-10-LB-305 152.00 156.97 4.97 2.6 2.25 18.46 0.10
  174.00 178.00 4.00 2.0 6.46 53.62 0.13
  255.00 262.00 7.00 3.6 4.79 14.17 0.09
  266.00 293.00 27.00 14.2 1.70 10.42 0.08
INCLUDES 291.00 293.00 2.00 1.0 7.42 21.00 0.18
  352.04 377.95 25.91 13.5 10.19 84.22 0.82
INCLUDES 366.00 371.00 5.00 2.6 21.57 354.40 3.60
  394.00 400.00 6.00 3.1 2.35 3.10 0.01
DDH-10-LB-310 302.00 316.00 14.00 6.5 2.84 5.38 0.01
INCLUDES 309.00 312.00 3.00 1.4 7.62 10.24 0.01
DDH-10-LB-311 55.00 57.91 2.91 NA 8.46 9.17 0.07
  66.00 67.00 1.00 NA 2.15 11.80 0.14
  226.00 227.00 1.00 NA 2.16 14.75 0.08
  301.00 302.00 1.00 NA 3.00 0.83 0.01
DDH-10-LB-314 64.01 84.00 19.99 11.1 5.18 69.22 0.53
INCLUDES 64.90 69.30 4.40 2.5 10.61 137.70 1.03
AND 81.00 83.00 2.00 1.1 20.73 313.00 2.45
  91.00 95.00 4.00 2.2 3.84 39.33 0.16
  147.00 148.00 1.00 0.5 2.95 7.15 0.03
  215.80 217.00 1.20 0.7 2.19 10.65 0.05
DDH-10-LB-316 86.00 93.00 7.00 4.2 2.43 8.15 0.05
  161.80 190.00 28.20 17.0 2.30 5.29 0.02
INCLUDES 178.00 181.05 3.05 1.8 14.58 29.88 0.12
  207.00 211.00 4.00 2.4 10.11 115.15 1.24
Hole 316 bottomed in mineralization
DDH-10-LB-317 144.00 150.58 6.58 4.9 5.56 28.58 0.12
  164.15 190.50 26.35 19.8 8.95 53.52 0.72
INCLUDES 179.83 183.00 3.17 2.4 13.13 188.93 2.53
  198.00 204.12 6.12 4.6 2.23 17.45 0.06
DDH-10-LB-318 80.00 82.00 2.00 1.6 7.94 11.18 0.04
  96.00 97.00 1.00 0.8 2.40 43.50 0.23
  124.00 125.00 1.00 0.8 2.92 107.00 0.20
  182.00 191.00 9.00 7.0 20.35 59.19 0.38
INCLUDES 188.00 190.00 2.00 1.6 79.55 129.00 0.51
DDH-10-LB-321 45.00 46.00 1.00 0.7 3.02 18.65 0.03
  62.25 65.00 2.75 1.9 2.05 52.84 0.03
  72.00 74.00 2.00 1.4 4.19 7.57 0.01
  123.00 127.50 4.50 3.1 2.48 46.62 0.30
  146.00 160.00 14.00 9.5 7.18 36.37 0.17
INCLUDES 147.00 149.00 2.00 1.4 20.23 34.50 0.14
  198.00 208.00 10.00 6.8 2.94 26.88 0.27
  217.00 230.00 13.00 8.8 3.72 43.89 0.48
INCLUDES 218.00 221.00 3.00 2.1 11.85 151.67 1.65
               

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 calculated assuming a 70 degree dip for the mineralized structure.

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 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.

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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