Ventura Gold Corp.
TSX VENTURE : VGO

Ventura Gold Corp.

November 20, 2006 18:08 ET

Ventura Reports Mid-Year Financial Results

SCOTTSDALE, ARIZONA--(CCNMatthews - Nov. 20, 2006) - Ventura Gold Corp. (the "Company") (TSX VENTURE:VGO) has filed on SEDAR its interim unaudited financial statements and management discussion and analysis ("MD&A") for the six-month period ended September 30, 2006 (the "current period"). Highlights of these financial statements are discussed below (all amounts are reported in US Dollars except as otherwise indicated):

- The consolidated net loss for the current period was $83,840 ($0.01 per share) compared to a loss of $135,155 ($0.01 per share) for the comparative six-month period in 2005.

Expenses in most categories decreased in the current period compared to the same period in 2005 due primarily to a reduction in administrative activity and an increase in capitalized exploration activities. Professional fees (consisting of audit, accounting and legal costs) was the only expense category that increased due to higher auditing costs incurred in the preparation of the March 31, 2006 year end audited financial statements. The current period also included a write-off of $24,425 in accounts payable related to the Company's change of business from the software technology sector to the mineral resource sector in January 2005.

- Capitalized mineral property expenditures for the current period were $222,410 compared to $509,824 for the same period last year. The reduced expenditure for the current period is due primarily to the temporary suspension of exploration activity at the Navelgas property in Spain where no expenditures were incurred for the current period (2005-$15,860) because approval for the required drilling permits is still awaited. The majority of the expenditures were incurred at the Gold Gulch gold-copper property in Arizona ($147,605, 2005 - $Nil) and the Cottonwood Peak gold-silver property in Nevada ($74,805, 2005 - $314,252).

Since the change of business in January 2005 to September 30, 2006, the Company's total historical resource property expenditures are $830,435.

- Cash and equivalents decreased from $597,833 at year-end March 31, 2006 to $479,365 at September 30, 2006, primarily as a result of exploration expenditures on the Company's principal resource properties.

- Working capital decreased by $318,513 from $408,055 at year-end March 31, 2006 to $89,542 as of September 30, 2006, primarily as a result of the activities described above.

- Subsequent to the end of the current period, the Company closed a non-brokered private placement financing that realized total proceeds of Cdn$6.0 million (approximately $5.3 million) from the issuance of 24 million units at Cdn$0.25 per unit (see news release dated November 3, 2006 for complete details).

ON BEHALF OF THE BOARD

Stephen J. Kay, President/CFO


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