Verena Minerals Corporation

Verena Minerals Corporation

September 10, 2007 18:04 ET

Verena Minerals Announces Grant of Options to Its New President & Chief Executive Officer

TORONTO, ONTARIO--(Marketwire - Sept. 10, 2007) - Verena Minerals Corporation ("Verena" or the "Company") (TSX VENTURE:VML) announces that further to a press release announcing the appointment of Ron W. Stewart, P.Geo. as Verena's new President and Chief Executive Officer (see press release issued on August 15, 2007), Verena has agreed to grant 1,500,000 incentive stock options (the "Stock Options") to Mr. Stewart to acquire up to an aggregate of 1,500,000 common shares of the Company. The Stock Options are exercisable at $0.40 per share, and expire on August 15, 2012. The Stock Options are subject to the following vesting schedule: (i) 500,000 options on August 15, 2007, (ii) 500,000 options on August 15, 2008, and (iii) the balance of 500,000 options on August 15, 2009.

About Verena Minerals Corporation

Verena Minerals Corporation is exploring for gold along the major mineralized belts of northern Brazil. Verena is focused on expanding and advancing its Volta Grande Gold Project, where a 37,000 metre core drilling program is underway. Verena has a strategic alliance with Kinross Gold Corporation, which owns approximately 7.3 percent of Verena and holds options on the Monte do Carmo and Patrocinio gold projects. Verena also holds the past-producing Bonfim gold mine, along with a portfolio of Brazilian diamond and gem properties. Verena trades on the TSX Venture Exchange under the symbol VML and has approximately 97.5 million common shares issued and outstanding.

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

Contact Information

  • Verena Minerals Corporation
    Stephen G. Roman
    Executive Chairman
    (416) 368-3949