Canadian Company Spotlight

Vena Resources Inc. is a Canadian mining company focused on the exploration and development of Peru's mineral potential. Employing a model of diversification across metals and regions in Peru to mitigate investment risk, the Company consists of four divisions: Mining, Clean Energy, Precious Metals and Base Metals. Together with the Company's strategic partners, Cameco and Glencore, Vena will advance its significant portfolio of almost 100,000 hectares this year.

Properties

Vena Resources is divided into four distinct business units – Precious Metals Division, Mining Division, Base Metals Division, and Clean Energy Division and exploration is currently underway in Vena's northern Peru properties where anthracite is known to be available, with the goal of identifying a NI 43-101 compliant "clean coal" resource and to purchase an anthracite washing plant to produce clean coil products.

The Company has properties and projects spread out throughout Peru, but there current focus is on their Azulcocha Project, their Uranium projects with technical support from Cameco geologists and lastly their Aurora Property. For information on all of the Company's properties, investors are encouraged to visit Vena Resources website located here.

Azulcocha Project

The Azulcocha project is located in the Department of Junin, Peru. This property covers an area of 8,600 hectares comprising nine concessions in good standing and includes the workings of a zinc-antimony mine (Mina Gran Bretaña) which operated from 1975 until 1986. During that period, the mine produced 1,424,500 tonnes of ore generating 314,100 tonnes of concentrate and 1,110,400 tonnes of tailings.

Current access to the concessions is by paved road to within 40 kilometres of the site. While a rail connection from the mine to the large smelter/refinery complex at La Oroya is not currently operational, the rail bed remains available for moving concentrates from subsequent mining activities. High voltage electrical lines pass over the concessions and a work order is in place to provide 1 megawatt of power to the camp facility in the short term. Signed agreements are in place with the local communities providing unlimited surface access to the concessions for the foreseeable future.

According to the records of the Gran Bretaña Mining Company, an estimated 1.94 million tonnes at 4.7% Zinc remain to be mined by either open pit or underground methods. Given the number of mines in the area (Casapalca, Morococha and Yauli) and the existence of a major regional fault (Cochas-Gran Bretaña), a regional exploration program is planned to determine the presence of additional ore bodies. The Company has rehabilitated some of the original employee housing to provide accommodation for those who will be involved in this and future exploration efforts.

Vena Resources has commenced a 1,800-metre drilling program to confirm the mine's historical underground resources - an estimated 3.2 million tonnes of mineralization. The Company has also hired Minefill Services, Inc. to perform a scoping study which will provide Vena with operating and financial guidance regarding Azulcocha. Construction of a modular pilot mill has begun, leading to the establishment of an industrial mill in the first quarter of 2008.

Uranium Division

Vena's Uranium Division currently operates on 40,000 hectares of land in the Puno region of Southern Peru, 14,000 of which were initially acquired from IPEN (Peruvian Institute of Nuclear Energy). IPEN's historical estimates document a potential resource of 200,000 tonnes with average grades from 0.2% to 12% of U3O8 (a mixture of uranium oxides).

Vena is exploring for uranium in a number of project areas in southeast Peru with the technical support of Cameco geologists. Cameco has the option to invest $10 million over the next four years to obtain up to 50% of Minergia S.A.C., a Vena subsidiary that holds the uranium claims. Cameco can increase its stake in Minergia to 60% when a feasibility study is completed and to 70% when mine development commences.

Macusani

The Macusani district is the most studied area in southern Peru. IPEN historical reports from September 1983 refer to the areas of Chapi, Corani, Tantamaco, Huiquiza, Calvario, Concha Rumio, Huachanne, Chilcuno, Chacaconiza and the surrounding area to the town of Macusani potentially having in the order of 200,000 tons of Uranium carrying ore with average grades from 0.2% to 12% of U3O8 (Bulletin 71 – Peruvian Geological Society – September 1983)

The petrographic, mineralogical and tectonic characteristics of the uranium occurrences of Macusani, 150 kilometres to the north-northwest of Lake Titicaca in Puno, are such that these mineralizations are unique among Uranium deposits associated with pyroclastic rocks although similar to the mineralized systems in Lakeview (Oregon), McDermitt (Nevada), Marysvale (Utah), Makkovik (Labrador), Rexpar (BC), Mount Pleasant (New Brunswick) and Maureen (Quensland) in Australia.

Exploration of the Macusani area by 3rd parties has found significant outcrops of the uranium mineral autunite in small fractures in many areas. Autunite contains 51% uranium by weight and converts into 60% - 65% U3O8.

Munani

At Vena's Munani property, uranium mineralization occurs in the fluvial sandstone of the Huancane formation, which dates back roughly 146 million years. According to Bayswater Uranium, typical grades for U3O8 found in sandstone deposits are between 0.15% and 0.4%. Sandstone formations generally have numerous small- to medium-sized deposits, and were the source of more than 11% of global uranium production in 2004.

Testing at Munani occurred using a device for detecting and measuring radioactivity, known as a scintillometer. The results indicate that the entire area believed to be underlain by sandstone has a background radioactivity of 500 counts per second (cps) to 600 cps where the sandstone boulders are concentrated, and exceeds 1,000 cps to 2,000 cps where there are individual boulders. The radioactivity is correlated with black, potentially organic material disseminated in the sandstone.

While the composition of the black material is not known, it flouresces strongly under ultaviolet light. It is believed that the character of these deposits conforms to the type of uranium typically found in tabular sandstone. Vena believes that the uranium deposits at Munani are amenable to open pit extraction, and a primary objective for the Company is to establish the aerial and thickness extent of the mineralization.

Base Metals Division - Aurora Property

The Aurora property is within the emerging Yauri-Andahuaylas metallogenic belt which hosts several large gold-copper-molybdenum porphyry deposits including Antapaccay and Los Chancas, as well as copper-skarn deposits Tintaya and Las Bambas.

Mineralization is centred on a complex, multiphase intrusion of granodiorite to quartz monzonite composition that may be of Oligocene age. Host rocks for the intrusion are hornfels and phyllites—metamorphosed sands and silts of Silurian age.The contact hornfels are andalusite-cordierite hornfels, and muscovite-cordierite-andalusite hornfels. Foliation in the metamorphic host rocks trends N60-70W and may have influenced control on shape of the stock and distribution of mineralization.

Primary mineralization consists of chalcopyrite, bornite, molybdenite with pyrite and pyrrhotite disseminated in altered porphyry and in quartz veinlets cutting the porphyries. Better grade mineralization appears to be associated with an increase in over-all sulfide content and with abundant silicification. Copper sulfides also are associated with abundant sericite alteration. Total sulfides generally are elevated, from three to five volume percent in mineralized porphyry. Presence of abundant phyllic alteration and apparent high pyrite to chalcopyrite ratio in drill core suggests that drill holes cut mainly pyrite-rich zone of the porphyry.

Media

Investors are encouraged to view a detailed interview and presentation on Vena Resources by Business Television, click here for more details.

Canada

Juan Vegarra, Chairman & CEO
Juan Vegarra is a native of Peru and continues to foster his significant base of contacts both within the Peruvian government and in the mining industry. Prior to his appointments as Chairman and CEO of Vena Resources in 2003, Mr. Vegarra enjoyed a successful career as a Microsoft executive. He currently manages a venture capital firm focused on the mining sector in addition to his duties with Vena Resources.

Andres Tinajero, CFO
Andres Tinajero is a Certified Management Accountant with 13 years experience in financial management focused on the areas of cost accounting, cost analysis, budgeting and financial strategy. He has worked for major organizations in North America, including his most recent position as Controller for LaFarge Canada, a $19 billion dollar construction company focused in aggregates, cement, asphalt and ready-mix operations. Mr. Tinajero holds an MBA and a BA in Finance.

Charlotte May, Corporate Secretary
Ms. May has over 20 years experience gained in the institutional broker industry and the oil and gas and junior industrial sectors. Ms. May provides consulting services to a number of junior resource companies in the areas of marketing, corporate secretarial and public company administration.

Peru

Rod Ogilvie, VP Engineering and Country Manager
Rod Ogilvie has over 33 years experience in mining, production and exploration. In January 2008, he was appointed Vice President Engineering and Country Manager. Prior to joining Vena Resources, Rod supervised Cameco's efforts in Mongolia as Chief Operations Officer. He has extensive overseas experience and his main areas of expertise are gold, diamonds, uranium and coal. Mr. Ogilvie has a B.Sc. in Geology and is a professional registered engineer and geologist.


Jesus Vilca, Senior Geologist
Jesus Vilca attended the National University of San Agustin de Arequipa where he obtained his Masters in Science with a major in Mining Management (National University of Engineering) and Specialization in Exploration and Appreciation of Mineral Resources. Jesus has over 20 years experience as a Geologist / Engineer working primarily in Peru and specializing in polymetallic mines.

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