Verena Minerals Corporation

Verena Minerals Corporation

December 19, 2006 10:45 ET

Verena Private Placement

TORONTO, ONTARIO--(CCNMatthews - Dec. 19, 2006) - Verena Minerals Corporation ("Verena") (TSX VENTURE:VML) announced that it has agreed to complete a private placement to an insider of Verena for 250,000 common shares at a price of $0.57 per common share. The placement is subject to regulatory approval. The common shares issued under the placement will be subject to a 4 month hold period. The proceeds from the placement will be used for working capital.

Verena Minerals Corporation is focused on the exploration and development of gold projects in Brazil. Through its wholly-owned Brazilian subsidiaries, Verena 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 80,694,680 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 Shefsky
    President and CEO
    416-368-5146 (FAX)