VENTANA PROVIDES UPDATE ON TRANSFER OF MINERAL TITLE FOR LA BODEGA AND LA BAJA PROPERTIES
Vancouver, B.C., July 15, 2010 – Ventana Gold Corp. (TSX: VEN) ("Ventana” or "the Company”) is pleased to provide an update on its previously announced acquisition of the La Bodega and La Baja mineral rights. The Company has been notified by INGEOMINAS – the Colombian Institute of Geology and Mining – that transfer of title for the La Bodega and La Baja mineral rights has been completed. The Company is now completing the balance of documents required for the transaction to close.
Ventana President and CEO Steve Orr said: "The transfer of the mineral rights titles is the most significant milestone in the completion of our acquisition of the La Bodega and La Baja properties. The balance of the process is administrative in nature and we look forward to closing.”
La Baja comprises 16.5 hectares between the La Bodega and El Cuatro properties and contains an operating mine and processing plant. The property is strategically located on strike with the La Mascota zone. Completion of the acquisition will provide Ventana with contiguous mineral rights tenements for a distance of 2.1 kilometres and consolidate the Company's land position to 4,590 hectares in the California-Vetas district. Historic workings on the La Baja property indicate that multiple mineralized zones may be present. Recent drill results indicate that La Mascota mineralization extends across the northern portion of the La Baja property. In addition, it is apparent that the recently discovered Las Mercedes parallel zone may trend through the center of La Baja.
About Ventana
Ventana is a Vancouver-based mineral exploration and development company with mineral rights to 4,573 hectares of exploration property in northeastern Colombia. The Company's flagship La Bodega project in northeastern Columbia contains multiple high-grade zones of gold, silver and copper mineralization occurring in north-northwest dipping parallel-sheeted vein zones, breccias and mineralized faults within a broad, northeast trending regional fault zone. The La Bodega project has excellent road access and is close to existing infrastructure including power and water. The Company is conducting an aggressive exploration program and is advancing engineering studies to develop the deposit.
Ventana's shares trade on the Toronto Stock Exchange under the symbol VEN.
For additional information please visit http://www.ventanagold.com/or contact:
Meghan Brown, Investor Relations Manager
tel +1 604 638 2002
email mbrown@ventanagold.com
Cautionary Statement Regarding Forward-looking Information
Certain of the statements made and information contained in this press release may constitute forward-looking information within the meaning of applicable securities legislation. All information and statements which are not historical fact constitute forward-looking information and, in many cases, can be identified by words such as "may", "will", "expect", "plan", "anticipate", "believe", "estimate", "potential", or other similar terminology. The forward-looking information contained in this press release is based on the reasonable expectations and beliefs of management as at the date of this press release and involves numerous assumptions, known and unknown risks and uncertainties, both general and specific to Ventana and the industry in which the Company operates. Such assumptions, risks and uncertainties include, but are not limited to future prices of gold, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated as well as those factors disclosed in Ventana's documents filed from time to time with the securities regulators in the provinces of British Columbia, Alberta and Ontario. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of the Company, or industry results, may vary materially from those described in this press release. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as otherwise required by law, Ventana does not intend to and assumes no obligation to update or revise forward-looking information, whether as a result of new information, plans, events or otherwise.