Vena Resources Announces Positive Geophysical Results on Azulcocha.

TORONTO -- Vena Resources Inc. (TSX VENTURE:VEM), announces the positive and encouraging results of its geophysical study at the Azulcocha zinc/manganese project near Huancayo, Peru approximately 260 kilometers east from the City of Lima.

The Azulcocha project comprises the Gran Bretana mine (closed) as well as additional exploration lands. The mine operated at a design rate of 450 tonnes per day from 1965 until its closure in 1985 due to civil unrest. Munoz(1) estimated the remaining mine to be over 3 million tones grading 5% zinc and 20% manganese. Manganese was not recovered by the mine owner but Vena is currently testing a differential flotation flowsheet to recover this mineral. A total of 409,000 tonnes of 60% zinc concentrate were shipped from the mine, by a dedicated rail facility, during this time to the Doe Run smelter complex at nearby La Oroya.

Additionally, surface samples from the large stockpile of previously milled ore indicates the presence of high values of zinc (5%), manganese (10%) and gold (1 gpt). Based on previous plant records this stockpile contains 1.3 million tonnes of mineralized material.

Manganese occurs primarily as rhodochrosite (MnCO3) and pyrolusite (MnO2) and can be readily upgraded to electrolytic manganese dioxide (EMD) which currently sells for US$2,000 per tonne in the North American market. World consumption of EMD for alkaline batteries in 2002 exceeded 230,000 tonnes with an annual growth rate in excess of 9.6% between 1996 and 2002. End Users or this material include Energizer, Duracell, Eveready, Sony, Toshiba, Panasonic and Philips. Future growth in the EMD market is expected to exceed current growth rates as global demand for batteries increases in areas such as mobile phone communications, lithium manganese rechargeable batteries and hybrid electric vehicle batteries.

In order to confirm and increase the Azulcocha mineral resources the Company has embarked on a comprehensive exploration campaign beginning with a geophysical program including 40.7 line kilometers of magnetometry and 12.6 line kilometers of induced polarization testing. The cross section view of the anomaly (Section 427,300E) is taken from the final report of SJ Geophysics Ltd. of British Colombia using their proprietary inversion software.

(1) 1995, Cesar Munoz and Lluis Fontbote ; "El Yacimiento de Zn-As-(Au) Azulcocha Asociado a a Falla de Desgarre Cochas - Gran Bretana (Peru Central); Sociedad Geologica del Peru"

Two large targets have been identified as shown on the attached plan. The first target is approximately 150 meters by 500 meters in size and is open to the west and the second target is approximately 100 meters by 800 meters in size.

The plan map also indicates that the identified targets underlie extensive surface alteration zones from which surface geochemistry studies have indicated the presence of zinc and manganese mineralization.

Vena intends to re-open the existing mine and continue development into the newly identified mineralized zones. Use will be made, early in the New Year, of a drill rig that is currently drilling for the Company in the Azulcocha area to test the geophysical targets.

About Vena Resources Inc.

Vena Resources (TSX.V:VEM) is dedicated to aggressively acquiring, exploring and developing high quality projects throughout the country of Peru. Vena currently has a portfolio of five separate projects currently encompassing 16,000 hectares of strategically located and highly prospective ground. Encouraging drill results have recently been released by the Company on its gold-copper Aucapampa property; the Las Princesas property is completely encircled by Barrick Gold and PanAmerican Silver claims and is immediately adjacent to Barrick's Alto Chicama property. Additional information on Vena may also be examined and/or obtained through the internet by accessing the Vena's website at www.venaresources.com or by accessing the Vena's public disclosure documents through the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.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.

Shares Outstanding:32,039,013

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Maps are available on CCNMatthews' web site at the following address: http://www2.ccnmatthews.com/database/fax/2000/VENA1220.pdf

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Vena Resources Inc. (TSX VENTURE:VEM)