Verena Minerals Corporation
TSX VENTURE : VML

Verena Minerals Corporation

November 21, 2006 11:10 ET

Verena Intersects 80 Metres @ 1.88 g/t Au Including 7.0 Metres @ 10.35 g/t Au at Volta Grande Project

TORONTO, ONTARIO--(CCNMatthews - Nov. 21, 2006) - Verena Minerals Corporation (TSX VENTURE:VML)(the "Company" or "Verena") is pleased to announce the results of 6 more diamond drill holes from the 5,000 metre diamond drill program recently completed on the Company's 100% owned Volta Grande Gold property located in Para State, Brazil (the "Property").

As disclosed in Verena's press release of November 9th, 2006, the Company has completed 25 diamond drill holes in the North Block of the Property which are part of the diamond drill program recommended in the Company's NI 43-101 report prepared by Scott Wilson Roscoe Postle Associates, Inc. in December, 2005.

The objective of the drilling program is to outline higher grade zones within the previously estimated resources as well as define larger bulk mineable targets. Verena's current resource is approximately 3.8 million tonnes of Indicated Mineral Resources at an average grade of 1.40 g/t Au and 29 million tonnes of Inferred Mineral Resources at an average grade of 1.19 g/t Au (using a 0.75 g/t cut-off).

Verena has received the remaining results from drill holes VVD-127 and VVD-128, which together with drill hole VVD-138 are showing the potential for much wider zones of mineralization than previously recognized. In the previous press release issued November 9th, 2006 only a portion of these drill holes were announced since all assays were not yet received.




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DDH INTERVAL (m)
-------------- INTERSECTION WEIGHTED
NUMBER FROM TO (m) RESULT(g/t)
------------------------------------------------------

------------------------------------------------------
VVD-127 152.00 180.00 28.00 1.52
------------------------------------------------------
152.00 154.00 2.00 3.17
(Includes) -------------------------------------------
173.00 180.00 7.00 4.35
------------------------------------------------------
179.00 180.00 1.00 26.55
-------------------------------------------


This section can now be combined with the previous released sections increasing the intersection to 69 metres @ 1.60g/t Au (111.00 to 180.00m). See Verena press release of November 9, 2006.



------------------------------------------------------
VVD-128 169.00 190.90 21.90 1.83
------------------------------------------------------
182.00 190.90 8.90 3.28
(Includes) -------------------------------------------
189.00 190.90 1.90 8.52
------------------------------------------------------


This section can now be combined with the previous released sections increasing the intersection to 74.90 metres @ 1.33g/t Au (116.00 to 190.90m). See Verena press release of November 9, 2006.




Results of 6 Diamond Drill Holes in Grota Seca West Target:

------------------------------------------------------
INTERVAL (m)
DDH -------------- INTERSECTION WEIGHTED
NUMBER FROM TO (m) RESULT(g/t)
------------------------------------------------------
------------------------------------------------------
VVD-133 198.00 233.00 35.00 1.38
------------------------------------------------------
Includes 215.30 220.30 5.00 3.26
-------------------------------------------
230.00 232.00 2.00 5.19
------------------------------------------------------
282.00 322.00 40.00 1.19
-------------------------------------------

------------------------------------------------------
VVD-134 151.00 193.00 42.00 1.28
------------------------------------------------------
168.00 171.50 3.50 2.70
(Includes) -------------------------------------------
176.00 178.00 2.00 3.79
------------------------------------------------------

------------------------------------------------------
VVD-135 198.80 206.00 7.20 1.35
------------------------------------------------------
(Includes) 200.00 203.00 3.00 2.35
------------------------------------------------------
237.00 268.00 31.00 1.28
------------------------------------------------------
242.00 243.50 1.50 17.13
(Includes) -------------------------------------------
249.00 251.00 2.00 2.36
------------------------------------------------------

------------------------------------------------------
VVD-136 137.00 198.00 61.00 1.42
------------------------------------------------------
148.00 155.00 7.00 6.41
-------------------------------------------
Includes 170.50 172.00 1.50 4.40
-------------------------------------------
196.00 198.00 3.00 3.93
------------------------------------------------------
239.00 245.00 6.00 2.25
------------------------------------------------------
(Includes) 239.00 241.00 2.00 5.97
------------------------------------------------------

------------------------------------------------------
VVD-137 0.00 5.00 5.00 0.90
------------------------------------------------------
136.00 143.00 7.00 0.97
-------------------------------------------
184.30 191.00 6.70 2.86
------------------------------------------------------
(Includes) 188.00 190.00 2.00 7.05
------------------------------------------------------
205.00 222.80 17.80 1.20
------------------------------------------------------
(Includes) 220.00 222.80 2.80 2.62
------------------------------------------------------
243.00 256.00 13.00 1.01
------------------------------------------------------
(Includes) 254.60 256.00 1.40 7.39
------------------------------------------------------
285.00 307.00 22.00 1.14
------------------------------------------------------
(Includes) 295.00 297.60 2.60 4.54
------------------------------------------------------
326.00 345.65 19.65 1.13
------------------------------------------------------
(Includes) 335.00 341.00 6.00 2.30
------------------------------------------------------

------------------------------------------------------
VVD-138 175.00 222.00 47.00 3.01
------------------------------------------------------
202.00 209.00 7.00 10.35
------------------------------------------------------


Verena is also expecting the results from the remaining 8 drill holes (VVD-139 through VVD-146, with one test drill hole on the northern unexplored contact of the diorite) from the SGS-Lakefield-Geosol laboratory, as well as the results for 36 elements from several zones.

Mr. Hrayr Agnerian, M.Sc. (Applied), P.Geo., is the Qualified Person within the meaning of National Instrument 43-101 and has reviewed the contents of this release. Lengths reported are core intersection lengths and do not represent true widths. It is anticipated that true width estimates will be made possible after additional drilling.

Verena Minerals Corporation is focused on the exploration and development of gold projects in Brazil. Through its wholly-owned Brazilian subsidiaries, the Company controls over 100,000 hectares of prospective exploration concessions covering major mineralized belts. Verena has two other gold projects in Brazil including the Monte do Carmo Project, in Tocantins State, and the Patrocinio Project, in Para State currently being explored through joint-ventures with Kinross Gold Corporation. Verena has 80,669,680 common shares issued and outstanding.

Contact Information

  • Verena Minerals Corporation
    Stephen Shefsky
    President and CEO
    (416) 924-4337
    Website: www.verena.com