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Vena Significantly Upgrades Resources at Macusani Uranium Project
Published : September 13, 2011

- Measured Resources of 5.69 Million Pounds of U308, Indicated Resources of 12.53 Million Pounds of U308 and Inferred Resources of 17.42 Million Pounds of U308

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TORONTO, ONTARIO--(Marketwire - Sept. 13, 2011) -

NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE US.

Vena Resources Inc. (News - Market indicators)(LIMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF), a Company with strong partnerships with some of the world's largest mining companies, is pleased to announce that an independent National Instrument 43-101 ("NI 43-101") compliant resource estimate for its Macusani Uranium Project located in Peru will be filed on SEDAR (www.sedar.com) and on the Company's website within 45 days. Henkle and Associates ("Henkle") has completed an updated resource estimate for Minergia S.A.C. ("Minergia"), a uranium exploration company owned jointly by Vena and Cameco. It should be noted that the NI 43-101 compliant resource estimate only encompasses five of the nine properties in the Macusani region. Minergia also owns uranium properties in the Muñani region where work is continuing.

The current resource numbers are based on 36,312 metres of diamond drilling in 220 drill holes performed over five years covering a small portion of the prospective target areas and indicates an overall resource estimate for the Macusani region of 5,691,588 pounds of measured resources, 12,525,199 pounds of indicated resources and 17,422,031 pounds of inferred resources at 0.18 pounds per ton cutoff and 5,690,701 pounds of measured resources, 11,674,765 pounds of indicated resources and 15,321,050 pounds of inferred resources at 0.36 pounds per ton cutoff as outlined in the attached table.

Juan Vegarra, CEO of Vena, stated, "It is exciting to report an increase of almost 60% in resources at Macusani including 5.7 million pounds in the measured category. As an aggregate, we have over 35 million pounds of U308 resources from a small portion of our target area, encouraging us to continue to convert blue-sky potential to measured resources across the entire plateau."

This press release was reviewed by William R. Henkle, Jr., P.Geo., Vena's Qualified Person as defined by NI 43-101.

For further information on Vena Resources, please visit the Company website at www.venaresources.com, or its Facebook page.

   MEASURED RESOURCES
Prospect 0.18 Lb/Ton (90.72 ppm) U3O8 CUTOFF 0.36 Lb/Ton (181.44 ppm) U3O8 CUTOFF
  Tons Lbs U3O8 Lb/Ton U3O8 ppm U3O8 % U3O8 Tons Lbs U3O8 Lb/Ton U3O8 ppm U3O8 % U3O8
Tantamaco 10,330,124 5,679,526 0.550 277.200 0.025 8,617,933 5,690,701 0.660 332.640 0.030
Nuevo Corani 0 0 0.000 0.000 0.000 0 0 0.000 0.00 0.000
Isivilla 59,660 12,062 0.202     0 0 0.000 0.00 0.000
Tuturumani 0 0 0 0.000 0.000 0 0 0.000 0.00 0.000
Calvario Real 0 0 0 0.000 0.000 0 0 0.000 0.00 0.000
Totals 10,389,784 5,691,588 0.548 276.000 0.025 8,617,933 5,690,701 0.660 332.640 0.030
 
   INDICATED RESOURCES
Prospect 0.18 Lb/Ton (90.72 ppm) U3O8 CUTOFF 0.36 Lb/Ton (181.44 ppm) U3O8 CUTOFF
  Tons Lbs U3O8 Lb/Ton U3O8 ppm U3O8 % U3O8 Tons Lbs U3O8 Lb/Ton U3O8 ppm U3O8 % U3O8
Tantamaco 25,763,442 10,337,676 0.401 202.232 0.020 17,281,599 9,757,963 0.565 284.581 0.028
Nuevo Corani 3,530,769 706,660 0.200 100.872 0.010 1,524,868 528,681 0.347 174.740 0.017
Isivilla 4,862,675 1,480,863 0.305 153.486 0.015 3,632,606 1,388,121 0.382 192.593 0.019
Tuturumani 0 0   0.000 0.000 0 0   0.000 0.000
Calvario Real 0 0   0.00 0.000 0 0   0.000 0.000
Totals 34,156,886 12,525,199 0.367 184.815 0.018 22,439,073 11,674,765 0.520 262.225 0.026
 
INFERRED RESOURCES
Prospect 0.18 Lb/Ton (90.72 ppm) U3O8 CUTOFF 0.36 Lb/Ton (181.44 ppm) U3O8 CUTOFF
  Tons Lbs U3O8 Lb/Ton U3O8 ppm U3O8 % U3O8 Tons Lbs U3O8 Lb/Ton U3O8 ppm U3O8 % U3O8
Tantamaco 14,538,576 5,617,586 0.386 194.500 0.019 9,347,770 4,105,393 0.439 221.349 0.022
Nuevo Corani 8,088,525 3,437,884 0.425 214.200 0.021 5,011,462 3,099,041 0.618 311.669 0.031
Isivilla 7,627,515 6,436,478 0.844 425.380 0.042 6,539,311 6,466,524 0.989 498.390 0.049
Tuturumani 6,031,431 1,159,868 0.192 96.760 0.010 2,248,497 879,877 0.391 197.224 0.020
Calvario Real 1,413,372 770,215 0.545 274.680 0.027 1,413,372 770,215 0.545 274.654 0.027
Totals 37,699,419 17,422,031 0.462 232.850 0.020 24,560,412 15,321,050 0.624 314.401 0.031
Note: Based on Short Ton = 2,000 Lb        

Statements in this press release regarding the Company's business, plans, intentions, proposed Offering and use of proceeds thereof, 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. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. Information identifying risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's current Annual Information Form and its other filings with the various Canadian Securities Regulators, which are available online at www.sedar.

Shares Outstanding: 124,601,658

Fully-Diluted: 160,546,664

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

Vena Resources Inc.
Juan Vegarra
Chairman & CEO
(416) 364-7739, ext. 120
jvegarra@venaresources.com
www.venaresources.com

Vena Resources Inc.

PRODUCTEUR
CODE : VEM.V
ISIN : CA9225893044
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Vena Res. est une société de production minière de zinc basée au Canada.

Vena Res. est productrice de zinc, de manganese au Perou, et détient divers projets d'exploration au Perou.

Son principal projet en production est AZULCOCHA au Perou et ses principaux projets en exploration sont ESQUILACHE, CARHUAZ, COMPIN, HUARANCHAL, HUARAZ, MASMA, PALLASCA, SANTIAGO DE CHUCO, HUAMACHUCO, AUCAMPAMPA PROSPECT, LAS PRINCESAS, PUCARA, MACUSANI, LAGUNILLAS, MUNANI et HUACHON au Perou.

Vena Res. est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 115,7 millions CA$ (110,3 millions US$, 82,0 millions €).

La valeur de son action a atteint son plus bas niveau récent le 24 décembre 2004 à 0,20 CA$, et son plus haut niveau récent le 23 février 2007 à 1,91 CA$.

Vena Res. possède 86 970 000 actions en circulation.

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TSX-V (VEM.V)FRANKFURT (V1R.F)
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Produit Manganese - Zinc
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Recherche Copper - Gold - Lead - Silver - Uranium
 
 
 
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