Verena Minerals Corporation
TSX VENTURE : VML

Verena Minerals Corporation

March 18, 2009 13:57 ET

Verena Initiates Scoping Study at Volta Grande

TORONTO, ONTARIO--(Marketwire - March 18, 2009) - Verena Minerals Corporation (TSX VENTURE:VML) (the "Company" or "Verena") is pleased to announce that a contract has been signed with Scott Wilson Roscoe Postle and Associates ("SWRPA") to begin a Scoping Study immediately on the Company's wholly-owned Volta Grande gold deposit located in Para State, Brazil. The basis of the study is to determine the economics of mining the Volta Grande gold deposits.

As noted in a previous news release, dated February 3, 2009, the resources have been updated and there are now 725,000 ounces at 1.08 g/t in the Indicated category and 1.5 million ounces at 0.94 g/t in the Inferred category at a 0.5 g/t cutoff. This new resource was calculated using a block model and integrated 3,526 metres of drilling in 23 diamond drill holes.



VOLTA GRANDE: PRELIMINARY RESOURCE ESTIMATE: ALL AREAS: JANUARY 2009

Indicated Resources Inferred Resources
Cut-off Tonnes Tonnes
(g/t Au) (x1000) g/t Au oz Au (x1000) g/t Au oz Au

0.80 11,000 1.48 524,985 23,500 1.29 977,156
0.75 12,200 1.41 554,297 26,300 1.24 1,046,103
0.70 13,600 1.34 585,748 29,200 1.19 1,113,095
0.60 16,700 1.21 649,651 38,600 1.05 1,308,045
0.50 20,900 1.08 724,342 49,800 0.94 1,503,317
0.40 26,000 0.95 797,663 65,100 0.82 1,723,871


Qualified Person

The Volta Grande Gold Property drilling program was completed under the supervision of Mr. George Flach, P.Geo., qualified person within the meaning of National Instrument 43-101. Mr. Flach has reviewed the contents of this release. Mr. Hrayr Agnerian P.Geo. is the independent QP from SWRPA responsible for the resource estimates.

About Verena

Verena Minerals Corporation is a Canadian-based mineral exploration company with a portfolio of properties including gold, diamonds and gemstones in Brazil. Verena's prime focus is on advancing and expanding its 100% owned 2.5 million ounce 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 the 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 G. Roman
    President and CEO
    (416) 368-2998
    www.verena.com