Verona Development Corp.

Verona Development Corp.

August 12, 2008 13:49 ET

Verona Announces Reserve Report on Gainsbourogh

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 12, 2008) - Verona Development Corp. (TSX VENTURE:VDC)(FRANKFURT:V5D) ("Verona" or "the Company") is pleased to announce a NI 51-101 compliant reserve report on Gainsborough has been completed by Gilberta Lausten Jung Petroleum Consultants ("GLJ") an internationally-recognized engineering firm. The GLJ Report gives the property a Total Gross Lease Marketable Reserves of 282 Mbbl Total, Proved plus Probable. The total company interest is 169 Mbbl. This reserve and resource report was prepared in accordance with the requirements of Canadian National Instrument 51-101 on firm Standards of Disclosure for Oil and Gas Activities and has been filed on Sedar.

Verona is pleased with the value attributable to the Gainsborough wells and looks forward to continuing the development of the property. As well, the company is moving toward expanding its presence in the area through potential acquisition. Several potential acquisition opportunities are currently under evaluation.

On Behalf of the Board of Directors

Verona Development Corp.

Rod Husband, P.Geo, Director

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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

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