Ventura Gold Corp.

Ventura Gold Corp.

October 30, 2006 08:30 ET

Ventura Commences Drill Program at Cottonwood Peak Gold-Silver Property, Nevada

SCOTTSDALE, ARIZONA--(CCNMatthews - Oct. 30, 2006) - Ventura Gold Corp. ("Ventura") (TSX VENTURE:VGO) has commenced an initial core drilling program at the Cottonwood Peak gold-silver property in northern Nevada, approximately 45 miles northwest of Elko and nine miles west of Queenstake Resources' Jerritt Canyon gold mine. The drilling program comprises 10 drill holes totaling approximately 2,000 meters and is expected to be completed by the end of the year.

Drilling will test anomalous gold-silver and trace element geochemical values and geophysical anomalies over an extensive zone of argillic alteration with local zones of silicification (jasperoid) close to the contact of an intrusive and the adjacent volcanics.

The Cottonwood Peak property hosts a low-sulfidation epithermal system containing precious metal values that range from trace amounts up to 10.2 g/t gold and 525 g/t silver in surface rock grab samples, typically from quartz veins or fractured volcanic rocks.

The geological setting at Cottonwood Peak is broadly similar to the Tuscarora gold-silver deposit located five miles to the south, which has historical production reported by the Nevada Bureau of Mines of approximately 250,000 ounces gold and 7.5 million ounces silver since 1867.

Ventura can earn up to a 70% interest in the Cottonwood Peak property from Zappa Resources Ltd. ("Zappa") by issuing 350,000 common shares to Zappa over a three year period, by spending a minimum of US$500,000 on exploration or development over the same three year period, and by completing a feasibility study within a six year period. See Ventura's news release dated March 4, 2005 for further details.

Ventura's drilling program is being conducted under the supervision of its Qualified Person, consulting geologist Alan Wright RPG.


Stephen J. Kay, President

The TSX Venture Exchange neither approves nor disapproves the information contained in this News Release.

Contact Information