Vena Resources Completes Phase-One of Uranium Drill Program at Macusani

Vena Resources Inc. ("Vena" or the "Company") (TSX:VEM)(LIMA:VEM)(FRANKFURT:V1R)
is pleased to announce that the phase one drilling program at Macusani has been
completed. This diamond drill program has been completed with 7,583 metres
drilled at Tantamaco and 6,215 metres drilled at Nueva Corani for a total of
13,798 metres resulting in 6,755 samples assayed. All assay data is now complete
and recorded. Additional prospects in Macusani will be drill tested for the
first time in the first three months of 2009.


The regional geology and the uranium mineralization have been verified by this
drilling program. Vena is very pleased with the overall results of this initial
drill program. Several areas have exceeded expectations and will be part of the
second phase of drilling. Other areas require additional surface, core
examination and gamma log interpretation work. The exploration area in Macusani
is very large so "hot" and "cold" zones are expected. The down-hole gamma logs
will be examined to direct the next phase of drilling which will delineate the
higher grade zones shown by the original drilling program leading to a resource
estimate. 


The second phase of drilling in Macusani in northern Puno is expected to
commence in the first three months of 2009. Meanwhile two rigs are being
mobilized to Lagunillas in southern Puno to commence a 3,000 metre Uranium drill
program starting as soon as final permits are received.


The phase one drilling program was a regional program designed to investigate
key property holdings of Minergia S.A.C. in the Macusani region. The uranium
mineralization is hosted in ignimbrites and associated rhyolitic tuffs.
Mineralized zones have been established and reported using a geochemical cutoff
of greater than 200 PPM. No grades have been cut. All data from this drilling
program will be posted on the Company's website at www.venaresources.com. 


"The results of our phase one drilling program in the Macusani region continue
to exceed our expectations, highlighting the regional extent of uranium
mineralization," said Juan Vegarra, Chairman and CEO of Vena Resources. "We are
very encouraged by these results, and we look forward to further advancing our
Uranium resource delineation program after completing phase one drilling at
another set of regional targets in Lagunillas (southern Puno) and Munani
(central Puno) during the remainder of this year."


Vena is exploring for uranium in several project areas in southeastern Peru with
the technical help of Cameco geologists. Cameco has an option to invest $10
million over the next four years to obtain up to 50% of Minergia S.A.C., a Vena
subsidiary holding uranium claims with an aggregate area of over 40,000
hectares, in three regions of the Departments of Puno and Moquegua. Cameco can
increase its stake in Minergia to 60% when a feasibility study is completed and
up to 70% when mine development commences. 


The drilling program is supervised by Rod Ogilvie P.Geo., Vena's Vice President
of Engineering and Qualified Person as defined by NI 43-101. Core samples are
cut longitudinally with a diamond saw and one half of the core is placed in
sealed bags and initially shipped to preparation laboratories in Juliaca, 800
kilometres southeast of Lima. Following the preparation stage, the sample pulps
are sent to analytical laboratories in Lima. CIMM Peru and SGS are ISO certified
assay laboratories. The program is designed to include a comprehensive assay
quality control routine comprising the systematic use of standards, blanks and
field duplicate samples. Secondary laboratories are used for check assaying. 


To view additional highlights from the drill program using a 200 U ppm cutoff
please visit the following link: http://media3.marketwire.com/docs/903vena1.pdf 


In other news, Vena would like to take this opportunity to correct the purchase
terms of its acquisition of Sudamericana de Carbon ("SDC") previously announced
on August 13, 2008. Subsequent to advances having been made to SDC post the
Company's original agreement in February, the balance owing for purchase of 100%
of the outstanding shares of SDC was the equivalent of $397,500 which amount is
being satisfied through the issuance of 662,502 common shares and 600,000
warrants. The common shares will be issued as to 331,251 on finalization of
definitive agreements, 165,624 to be issued on July 31, 2009 and 165,627 to be
issued on December 31, 2009. The warrants are for a period of five years and are
exercisable at $0.60 subject to the principals of SDC obtaining key
deliverables. The acquisition is subject to regulatory approval. 


About Vena Resources

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, Energy, Precious Metals and Base Metals.
Vena's zinc project, Azulcocha, with an initial NI 43-101 resource estimate of
almost 200 million pounds is scheduled to commence production in the fall of
2008. Together with the Company's strategic partners, Cameco and Glencore, Vena
will advance its significant portfolio of almost 100,000 hectares this year.
Through its board of directors, Vena Resources possesses a unique quality of
skills and experience in management, mining and finance relating to Peru and
Canada.


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


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.