December 1, 2004--Toronto, Ontario--Vena Resources Inc. (the "Company") today announced the engagement of Clarus Securities Inc. as lead agent to complete a private placement of Units for total proceeds of up to $1.5 million.  Each Unit will have an issue price of $0.40 and will consist of one common share and one-half of one common share purchase warrant.  Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.60 per share for a period of 18 months from the date of closing.  The Company will pay a 7% commission to the agent.  The agent will also be entitled to receive warrants equal to 6% of the number of Units sold under the private placement.  Each agent’s warrant will be exercisable at a price of $0.40 and will entitle the holder to acquire one unit consisting of one common share and one-half of one warrant for a period of 18 months from the date of issuance.  Each whole warrant will be exercisable at an exercise price of $0.60 per share for a period of 18 months from the date of closing.

The completion of the private placement is conditional upon any necessary regulatory approval and completion of satisfactory due diligence by Clarus Securities Inc.  All securities issued pursuant to the private placement will be subject to a hold period of 4 months from the date of closing.