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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (21552)	9/20/2006 11:16:47 AM
From: LoneClone	Respond to of 78419

Vena Resources Closes Financing for Azulcocha Drilling & Mine Restart Wednesday September 20, 9:34 am ET ca.us.biz.yahoo.com TORONTO, ONTARIO--(CCNMatthews - Sept. 20, 2006) - Vena Resources Inc. (TSX VENTURE:VEM - News; LIMA:VEM - News; FRANKFURT:V1R - News; OTCBB:VNARF - News) announces that it has closed the first tranche of a non-brokered private placement by issuing 1,360,000 units at $0.50, each unit comprising one common share and one common share purchase warrant. Each warrant is exercisable at an exercise price of $0.75 for a period of 24 months after the Closing Date, provided, however, that, if, at any time following the expiry of the Hold Period, the closing price of the common shares on the TSXV (or such other exchange as the shares of the Company are listed on) is greater than $1.00 for 20 or more consecutive days, the Warrants will be accelerated and will expire on the 20th Business Day following the date of such notice. The securities issued on closing are subject to a four-month hold period and the private placement is subject to regulatory approval. A 5% finder's fee was paid to certain parties at the discretion of the Company. Proceeds from the private placement will be used for the ongoing confirmation drilling campaign in the Azulcocha Zinc project leading to a preliminary assessment of a mine restart and a 43-101 report as well as to expand the current drilling campaign to include confirming the historical drill results on The Waie and El Triunfo, those results were highly encouraging as several high-grade intersects were discovered. Vena expects to twin some of those holes to 300 meters in length to test continuity at depth of the high-grade poly-metallic structures. Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Shares Outstanding: 49,614,411 Fully-Diluted: 59,217,085 The TSX Venture Exchange does not accept the responsibility for the adequacy or accuracy of this release. Contact: Juan Vegarra Vena Resources Inc. Chairman & CEO (416) 364-7739, ext. 120 jvegarra@venaresources.com www.venaresources.com Tracy Weslosky Pro-Edge Consultants Inc. Managing Partner (866) 544-9622 or (416) 581-0177 Fred Cowans Pro-Edge Consultants Inc. Managing Partner (866) 544-9622 or (416) 581-0177 info@pro-edge.com -------------------------------------------------------------------------------- Source: Vena Resources Inc.