Verena Minerals Corporation
TSX VENTURE : VML

Verena Minerals Corporation

August 26, 2009 17:28 ET

Verena Corporate Update

TORONTO, ONTARIO--(Marketwire - Aug. 26, 2009) - Verena Minerals Corporation (TSX VENTURE:VML) (the "Company" or "Verena") reports that the previously announced (see Press Release dated March 18, 2009) Preliminary Economic Assessment ("PEA" or "Scoping Study") is being completed by Scott Wilson Roscoe Postle Associates ("SWRPA") and is expected to be completed by the end of September, 2009.

As part of the study, Verena has engaged the Perth, Australian-based engineering and construction firm, Lycopodium Minerals Pty. Ltd. ("Lycopodium"), to complete the recovery process and plant design portion of the study.

Lycopodium has recently completed large scale plant design and construction projects for companies such as Barrick Gold Corporation and Newmont Mining Corporation. Verena has also engaged a local Brazilian mining engineer to provide cost information to SWRPA and Lycopodium.

"We are pleased with the team we have assembled to work on the PEA and are looking forward to the results of the study in September," said Stephen G. Roman, Verena's President & CEO.

About Verena

Verena Minerals Corporation is a Canadian based mineral exploration company with an outstanding portfolio of properties including gold, diamonds and gemstones in Brazil. Verena's prime focus is on advancing and expanding its 100% owned Volta Grande Project, located in Para State. Verena trades on the TSX Venture Exchange and has approximately 97.3 million common shares issued and outstanding.

Cautionary Statement on Forward Looking Information

This press release may include forward looking statements within the meaning of securities laws. Forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from what is currently expected. Accordingly, readers should not place undue reliance on forward looking statements. For a more detailed discussion of such risks and other factors, refer to Verena's filings with the Canadian securities regulators available on www.sedar.com or the Company's website at www.verena.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Verena Minerals Corporation
    Stephen Roman
    Chairman, President and Chief Executive Officer
    (416) 368-2998
    www.verena.com