Vena Resources Expands Management Team and Implements Shareholders Rights Plan

Vena Resources Expands Management Team and Implements Shareholders Rights Plan

Vena Resources Inc. announce that Jose Roberto de Romana Letts has joined the Vena Board of Directors and Silvia Dedios Villaizan has been promoted to Vice President, Corporate Development based in Lima, Peru.

Mr. de Romana Letts is a member of a well known and respected family involved in the mining industry in Peru. He has worked in the Peruvian mining industry for many years in senior management positions, his last position being with Volcan, one of the largest mining companies in Peru. He holds advanced management degrees in Management and Finance from St. Edward’s University, Austin, Texas. He is also a director of several important companies in Peru.

“The Board of Directors welcomes Roberto to the board. His extensive contacts and experience in the mining community in Peru will be a great asset for Vena. “On the promotion of Silvia Dedios Villaizan, Juan Vegarra, Chairman & CEO stated: “For the last two years Silvia has proven to be an outstanding professional, eager to contribute in all aspects of the business and creating a well recognized brand in Peru. I am very pleased to count with her support. Over 26 million shares of Vena are in the hands of Peruvian investors. Vena’s support in Peru continues to grow with 85% of the funds in the latest financing coming from Peru.”

Shareholder Rights Plan

In other news, Vena’s Board of Directors has approved adoption of a shareholder rights plan (the “Plan”), to ensure, to the extent possible, that all Vena shareholders are treated equally and fairly in connection with any take-over bid, and to provide sufficient time for all shareholders to consider any such transaction. Vena is not aware of any pending of threatened take-over bids for the Company.

Vena has executed a Shareholder Rights Plan agreement with Equity Transfer & Trust Company. The Plan requires ratification by Vena’s shareholders, and will be submitted to the shareholders for consideration at Vena’s annual and special meeting of shareholders scheduled to be held on Thursday, March 5, 2009. The Plan is also subject to TSX approval.

Under the Plan, shareholders are issued one Right in respect of each Vena common share held, such Right being attached to the share. On the occurrence of certain triggering events, including the acquisition by a person or group of 20% or more of the outstanding common shares of the Company pursuant to a transaction that does not meet certain conditions, the Right will entitle its holder (other than the acquiring person or group) to purchase Vena common shares at a 50% discount to market.

The complete text of the Shareholder Rights Plan agreement is available on the Company’s SEDAR profile at

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.

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