Verena Minerals Corporation

Verena Minerals Corporation

February 28, 2007 13:27 ET

Verena Raises $2,556,250 From the Exercise of 100% of the Company's Warrants

TORONTO, ONTARIO--(CCNMatthews - Feb. 28, 2007) - Verena Minerals Corporation ("Verena") (TSX VENTURE:VML) is pleased to announce the exercise of all outstanding warrants and broker warrants from its financing completed in February, 2006, resulting in proceeds to Verena of $2,556,250. Proceeds received from these warrants will be used for exploration activities on the Company's 100% owned Volta Grande Project and for general working capital purposes.

Verena will be exhibiting at this year's PDAC beginning on Sunday, March 4-7 booth #2512 in the Investors Exchange at the Metro Toronto Convention Centre.

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 8.7 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 89.36 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 Shefsky
    President and CEO
    (416) 924-4337