Verena Minerals Corporation

Verena Minerals Corporation

October 19, 2006 13:48 ET

Verena Closes the Acquisition of the Volta Grande Gold Deposit, and Completes an Initial 5,215 Metres of Diamond Drilling

TORONTO, ONTARIO--(CCNMatthews - Oct. 19, 2006) - Verena Minerals Corporation ("Company" or "Verena") (TSX VENTURE:VML) is pleased to announce the closing of the acquisition of the Volta Grande gold deposit located in Para State, Brazil (the "Property").

Verena put US$1,722,708 on deposit, being the total amount outstanding that would be owed by the Company to the CPRM (Government of Brazil) should the Company produce a bankable feasibility study for the Property (see Verena press release of September 7, 2005 and June 19, 2006 covering further details).

Verena has also completed the first 5,215 metres of the 37,000 diamond drill program recommended by Scott Wilson Roscoe Postle Associates Inc. Previously there has been 22,720 metres of diamond drilling, 1,536 metres of reverse circulation drilling, and 5,943 metres of auger drilling completed by TVX and Battle Mountain Gold on the Property during the 1990's. Results from Verena's recently completed 5,215 metres of drilling on the Property will be released as soon as they are received from SGS-Lakefield-Geosol laboratory.

Verena Minerals Corporation is focused on the exploration and development of gold projects in Brazil. Through its wholly-owned Brazilian subsidiaries, Verena controls over 100,000 hectares of prospective exploration concessions covering major mineralized belts in Goias, Minas Gerais, Rio Grande do Norte, Para and Tocantins states. Verena has 80,669,680 Common Shares issued and outstanding.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • Verena Minerals Corporation
    Stephen Shefsky
    President and CEO
    (416) 924-4337