Vena Acquires 100% of Coal Company in Peru and Provides Development ...

Tag : zinc rod

Field investigations are underway in both the Alto Chicama and theSanta basins (located in the Ancash and La Libertad departments) tosignificantly increase SDC's portfolio of producing assets. Allproperties being evaluated are located in well known anthraciteproducing areas. Currently, there are no large scale commercialanthracite operations in Peru and local producers have beenincapable of satisfying Peruvian market participants that have agrowing demand in excess of 500,000 tonnes per annum.

Field assessments of these properties by SDC geologists hasconfirmed excellent mining potential of anthracite seams thatoutcrop over hundreds of metres and vary in thickness from 0.9 to2.0 metres. Sampling shows excellent coal quality as highlighted inthe table below:

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Ash Content less than 8% Volatiles less than 8%
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Sulphur less than 0.70% High Fixed Carbon Content greater than 83%
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SDC's immediate commercial plans include the purchase of anadditional briquetting plant to meet the needs of several clientsincluding local steel producers. During the first half of 2008, SDCsupplied a local mill with anthractice from a small pilot miningoperation in Alto Chicama. The average quality of the minedanthracite was: 81% FC, 4% VM, 15% ash and 0.7% sulphur.

SDC's experienced team of coal experts include: Carlos Soldi,Roberto Obradovich, Luis Moran and Rolando Carrascal. Carlos Soldiis a Civil and Mining Engineer with 30 years experience in miningand environmental engineering. He is a founder of SDC and currentlyacts as General Manager. Prior to joining SDC he was Director ofProcarbon, Peru's national coal agency a position he held duringhis academic career as Head of the Mining Engineering Department ofthe Catholic University for 23 years. Roberto Obradovich has a BAdegree and more than 30 years experience in the mining industryboth locally in Peru and internationally as well. He is also afounder and currently responsible for business development for SDC.Prior to joining SDC, Mr. Obradovich was an independent businessmaninvolved in the export of phosphate. Luis Moran is a ChemicalEngineer with many years in the Peruvian mining industry in seniorpositions both in the private and public sectors. He too is afounder of SDC and focuses on technical aspects of SDC's portfolio.Rolando Carrascal holds a PhD in Geology and has 25 years ofexperience in coal and mineral exploration. Mr. Carrascal is aconsultant to SDC and is well known in the Peruvian coalexploration industry and is a co-author of a comprehensivetechnical assessment book on Peruvian coal resources. Thisexperienced team coupled with Rod Ogilvie, Vena's Vice President ofEngineering who has previous experience with Fording Coal, DenisonMines, and CVRD Mongolia, makes a strong technical team to advancethe anthracite exploration, development and mining in Peru.

About Vena Resources

Vena Resources Inc. is a Canadian mining company focused on theexploration and development of Peru's mineral potential. Employinga model of diversification across metals and regions in Peru tomitigate investment risk, the Company consists of four divisions:Mining, Energy, Precious Metals and Base Metals. Vena's zincproject, Azulcocha, with an initial NI 43-101 resource estimate ofalmost 200 million pounds is scheduled to commence production infall 2008. Together with the Company's strategic partners, Camecoand Glencore, Vena will advance its significant portfolio of almost100,000 hectares this year. Through its board of directors, VenaResources possesses a unique quality of skills and experience inmanagement, mining and finance relating to Peru and Canada.

Statements in this press release regarding the Company's businesswhich are not historical facts are "forward-lookingstatements" that involve risks and uncertainties, such asestimates and statements that describe the Company's future plans,objectives or goals, including words to the effect that the Companyor management expects a stated condition or result to occur. Sinceforward-looking statements address future events and conditions, bytheir very nature, they involve inherent risks and uncertainties.Actual results in each case could differ materially from thosecurrently anticipated in such statements.

Shares Outstanding: 71,659,073

Fully-Diluted: 92,660,644

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

Contacts:
Vena Resources Inc.
Juan Vegarra
Chairman & CEO
(416) 364-7739, ext. 120
(416) 364-5400 (FAX)
Email: jvegarra@venaresources.com
Website: www.venaresources.com
Equicom Group
Joanna Longo
(416) 815-0700, ext. 233
Email: jlongo@equicomgroup.com

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