Vena Resources Inc.

Published : June 03rd, 2013

Cancels Non=2Dbinding Option on Esquilache=2C Pucara and Amantina Projects and Starts Discussi

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Keywords :   Canada | Collapse | Germany | K Street | Market | Peru |

Vena Cancels Non-binding Option on Esquilache, Pucara and Amantina Projects and Starts Discussi

Jun 3, 2013

TORONTO, June 3, 2013 /CNW/ - Vena Resources Inc. (the "Company" or "Vena") (TSX: VEM, Peru: VEM, Germany: V1RA, USA: VNARF) announces that after weeks of negotiating a final binding agreement with a private Peruvian mining company, the potential option on the Esquilache, Pucara and Amantina projects located in the department of Puno, Peru (collectively, the "Projects") has been terminated and the Company has begun discussions with four other interested groups.  The Company had announced the non-binding Letter of Intent on March 8th which would have would have resulted in a joint venture on the Projects.

Juan Vegarra, Chairman and CEO of the Company stated: "We know markets are extremely difficult for exploration companies, but we also know the significant potential of the Esquilache high-grade polymetallic deposit to deliver positive results in the short term and the longer term potential of the Pucara and Amantina projects. Vena plans on proceeding with obtaining drilling permits and as funds become available (US$2.5 million) in September/October from the sale of the Azulcocha mine last year, the Company will execute its stated goal to delineate resources quickly.  It is to our shareholder's interest to look for better potential partnerships that are the least dilutive and enable us to fast-track a production decision even at a small scale.  In this challenging market environment, Vena continues to minimize its operating expenses and management is evaluating financing alternatives to improve the Company's current working capital position."

The TSX does not accept the responsibility for the adequacy or accuracy of this release.  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.


 

SOURCE: Vena Resources Inc.

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Vena Resources Inc.

PRODUCER
CODE : VEM.V
ISIN : CA9225893044
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Vena Res. is a zinc producing company based in Canada.

Vena Res. produces zinc, manganese in Peru, and holds various exploration projects in Peru.

Its main asset in production is AZULCOCHA in Peru and its main exploration properties are ESQUILACHE, CARHUAZ, COMPIN, HUARANCHAL, HUARAZ, MASMA, PALLASCA, SANTIAGO DE CHUCO, HUAMACHUCO, AUCAMPAMPA PROSPECT, LAS PRINCESAS, PUCARA, MACUSANI, LAGUNILLAS, MUNANI and HUACHON in Peru.

Vena Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 115.7 millions as of today (US$ 110.3 millions, € 82.0 millions).

Its stock quote reached its lowest recent point on December 24, 2004 at CA$ 0.20, and its highest recent level on February 23, 2007 at CA$ 1.91.

Vena Res. has 86 970 000 shares outstanding.

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Financings of Vena Resources Inc.
5/12/2011Announces Board Changes and Extends Warrant Expiry Date
Financials of Vena Resources Inc.
8/16/2011Files Second Quarter 2011 Financials and Updates Operations
Project news of Vena Resources Inc.
7/31/2015(Azulcocha)Provides Update With Regards to the Arbitration Concerning t...
1/16/2015(Esquilache)Intersects 5.65 Metres of 304 g/t Ag Including 2.0 Metres of...
2/10/2014(Las Princesas)Enhances JV Agreement on Las Princesas Au/Ag Project
6/3/2013(Esquilache)Cancels Non=2Dbinding Option on Esquilache=2C Pucara and Ama...
1/15/2013(Esquilache)Announces Positive Results of Surface Sampling at the Esquil...
1/7/2013(Esquilache)Announces Positive Metallurgical Test Results from the Esqui...
10/19/2012(Compin)Options Compin Property for $1+ Million in Cash Payments and...
9/24/2012(Azulcocha)Provides Update on Azulcocha Mining Project
4/30/2012Junior Focus=3A Candelaria Silver =2D early=2Dstage Peruvian...
1/23/2012Urban Select Capital Corp. and Vena Resources Inc.
1/19/2012You are Invited! Come and Visit us at the Vancouver Resource...
6/23/2011(Azulcocha)and Trafigura Improve Strategic Agreement for Azulcocha Mine
5/5/2011(Azulcocha)Fast-tracks Azulcocha Construction after Obtaining EIA Appro...
3/14/2011(Macusani)Uranium Resource Expansion Program in Macusani Successfully ...
2/25/2008(Azulcocha)2008 Technical report
Corporate news of Vena Resources Inc.
6/13/2016Vena Resources Closes $360,000 Private Placement, Files Cont...
1/29/2016TSX Delisting Review - Vena Resources Inc. (Symbol: VEM)
1/18/2016Vena Provides Update on TSX De-Listing Review
1/15/2016TSX Delisting Review - Vena Resources Inc. (Symbol: VEM)
1/11/2016IIROC Trade Resumption - VEM
1/11/2016Vena Receives Peruvian Court Decision on Azulcocha West Arbi...
1/8/2016IIROC Trading Halt - VEM
12/17/2015TSX Delisting Review - Vena Resources Inc. (Symbol: VEM)
10/21/2015TSX Delisting Review - Vena Resources Inc. (Symbol: VEM)
8/13/2015Vena Resources Provides Corporate Update
8/13/2015Vena Provides Update with Regards to the Arbitration Concern...
7/31/2015IIROC Trade Resumption - VEM
7/31/2015Vena Provides Update With Regards to the Arbitration Concern...
7/31/2015IIROC Trading Halt - VEM
6/24/2015Announces Results of 2015 Annual General Meeting
2/26/2015/C O R R E C T I O N from Source -- Vena Resources Inc./
2/26/2015Vena Intersects 24.2 Metres of 131 g/t Ag and 0.4 g/t Au Inc...
2/26/2015Intersects 24.2 Metres of 131 g/t Ag and 0.4 g/t Au Includin...
2/9/2015Vena Clarifies and Retracts Certain Statements Made Related ...
2/7/2015Vena Clarifies and Retracts Certain Statements Made Related ...
1/16/2015Vena Intersects 5.65 Metres of 304 g/t Ag Including 2.0 Metr...
1/16/2015IIROC Trade Resumption - VEM; SVY; LYD
1/15/2015IIROC Trading Halt - VEM
12/30/2014TSX Delisting Review - Vena Resources Inc. (Symbol: VEM)
12/18/2014Vena Announces Positive High-Grade Results from Ongoing Dril...
12/18/2014(Esquilache)Announces Positive High-Grade Results from Ongoing Drill Pro...
11/29/2014Vena Announces Closing of Shares for Debt
11/26/2014TSX Delisting Review - Vena Resources Inc. (Symbol: VEM)
11/25/2014Vena Announces Closing of Private Placement Financing
11/10/2014Vena to Drill Major Veins at the Esquilache Polymetallic Pro...
1/16/2014Closes Sale of Uranium Assets to Azincourt Uranium
12/2/2013Improves Balance Sheet Significantly - Working Capital Incre...
11/22/2013Enters Agreement to Sell Uranium Assets to Azincourt Uranium
8/21/2013Issues Shares to Settle Debt and Provides Board Update
6/25/2013Announces Annual and Special Meeting Voting Results
4/26/2013Issues Shares to Settle Debt
12/12/2012(Esquilache)Obtains Community Permits to Advance Esquilache
11/8/2012(Azulcocha)Completes Sale of Azulcocha Mining to Trafigura
10/5/2012Consolidates Shares
7/3/2012Andr=C3=A9 Gauthier joins Vena Resources Board of Directors
3/15/2012(Azulcocha)Acquires Historical Drill Data Indicating Significant New Zi...
3/1/2012(Azulcocha)Confirms High-Grade Polymetallic Structures at Azulcocha Min...
2/23/2012You are Invited! Come and Visit us at the PDAC!
2/16/2012to Drill Promising Gold Target on its Gianderi Project, Peru
2/8/2012(Azulcocha)Partner Trafigura Invests US$7 Million to Move Azulcocha Zin...
1/16/2012Files NI 43-101 Report for Granja Gold on the Granja Nueva P...
12/19/2011Files NI 43-101 Technical Report on Pukara Property
12/14/2011Receives Shareholder Approval to Spin-Out Candelaria Silver ...
10/26/2011and Gold Fields to Commence Drilling on Amantina Property in...
10/11/2011(Esquilache)Registers 60% Ownership and Files NI 43-101 Report on Esquil...
9/13/2011(Macusani)Significantly Upgrades Resources at Macusani Uranium Project
7/25/2011Intersects 5.85 Metres of 506 gpt AG in Veta Mamacocha and E...
6/8/2011(Esquilache)Discovers High Grade Silver-Gold Zone at Esquilache Project,...
5/25/2011(Macusani)Discovers Higher Grade Zone at Isivilla-Macusani Uranium Pro...
4/7/2011and Gold Fields Identify Significant Targets on Amantina JV ...
2/24/2011Closes $12 Million Financing
2/22/2011Vena Resources Files Prospectus Supplement for $12 Million F...
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TSX-V (VEM.V)FRANKFURT (V1R.F)
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