Verena Minerals Corporation

Verena Minerals Corporation

August 15, 2007 09:15 ET

Verena Minerals Corporation Appoints Ron W. Stewart, P.Geo., as President & Chief Executive Officer

TORONTO, ONTARIO--(Marketwire - Aug. 15, 2007) - Verena Minerals Corporation ("Verena" or the "Company") (TSX VENTURE:VML) is pleased to announce that Ron W. Stewart, P.Geo., has been appointed as Verena's new President and Chief Executive Officer, replacing Stephen M. Shefsky, who will remain as a director of Verena.

Mr. Stewart enjoys a very successful career in gold exploration and has been involved in the mining and exploration industry for over 30 years. Most recently, Mr. Stewart held the Senior Vice President, Exploration position with Kinross Gold, directing the corporation's global exploration effort for over five years. Prior to joining Kinross, Mr. Stewart worked for Placer Dome for 17 years. Starting as a project geologist and credited with the discovery of the Musselwhite gold mine in Northwestern Ontario, Mr. Stewart moved through a series of positions including Chief Geologist at the Porgera Mine, Country Manager in Indonesia and finally Director of Investor Relations. Mr. Stewart began his career as a miner in northern Ontario holding a variety of production related positions in both underground and open pit mines. Ron Stewart holds an Honours Bachelor of Science in geology from Lakehead University, and is a member of the Professional Geoscientists of Ontario and Society of Economic Geologists.

Stephen Shefsky stated, "Verena is very fortunate to have Ron Stewart join its management team, to lead Verena to the next level of its evolution as a mining company. Mr. Stewart is a tremendous asset for Verena, especially given his vast experience and Verena's current stage of development. I welcome him to Verena's team."

Mr. Shefsky also commented, "I am very excited about the future at Verena. We have a solid portfolio of projects and an experienced management team in Brazil. At our flagship Volta Grande project, we are currently completing the second phase of a recommended 37,000 metre program, focusing on definition of the North Zone and exploration on the South Zone."

Mr. Shefsky leaves the position as President and CEO after almost 11 years with Verena, overseeing its development from a start up junior exploration company, through numerous financings and property development initiatives, to a solid exploration company with significant opportunities.

Mr. Stephen G. Roman, Executive Chairman of Verena, stated, "The Board of Verena wishes to extend their sincere thanks and appreciation to Stephen Shefsky for his efforts and accomplishments with Verena. We look forward to his continued work at Verena as a member of the Board of Directors."

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