Ventura Elects to Increase Interest in Inmaculada Gold-Silver Project, Peru to 70%

Ventura Elects to Increase Interest in Inmaculada Gold-Silver Project, Peru to 70%

Ventura Gold Corp. announces that it has elected to earn an additional 19% participating interest in the Inmaculada gold-silver project and increase its aggregate interest from 51% up to 70% by completing a feasibility study.

The Company has notified its joint venture partner, Hochschild Mining PLC, that it intends to solely fund and deliver a feasibility study on the project by October 23, 2013 in order to exercise its option to earn the additional 19% interest. The detailed terms of the joint venture agreement are outlined in the Company’s February 12, 2007 news release.

The Company estimates that a feasibility study on the Inmaculada Project may include up to 45,000 meters of additional drilling in order to provide sufficient information and drill density to expand and upgrade the existing inferred resource estimate to include a significant proportion of measured and indicated resources, and to support the estimation of economic mineral reserves. The feasibility study will also include estimated costs and cash flows in order to determine the economic viability of the project. The Company estimates that the feasibility study may cost up to US$11.0 million over the next 4½-year period and, while the Company has sufficient funding to commence feasibility drilling, it will require additional financing to complete the full feasibility study.

Ventura is the operator of Inmaculada, with a controlling interest, having recently issued an additional 400,000 shares to Hochschild to complete all requirements to earn its initial 51% joint venture interest in Inmaculada.

A technical report on Inmaculada was filed on SEDAR on March 6, 2009 and is also available on the Company web site at

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