March 28, 2005--Toronto, Ontario –Vena Resources Inc. (TSX.V : VEM) is pleased to announce the completion of a previously announced non-brokered private placement. The original announcement was for $2 million; however the issue was significantly oversubscribed and is currently being closed at just under $3.5 million. Additional subscriptions have been received and the balance of financing will be announced when closed.

Vena offered subscribers, one-half of their subscription at the original $0.45 unit price and one-half of their subscription at the $0.48 unit price. Each unit consisted of one common share and one-half common share purchase warrant exercisable for 18 months at a price of $0.65 in the case of the $0.45 unit and $0.60 in the case of the $0.48 unit. This provided subscribers with a blended cost per unit of $0.465 and a blended common share purchase warrant exercise price of $0.625. The securities issued on closing are subject to a four-month hold period. The private placement is subject to regulatory approvals. A finder’s fee was paid to certain parties at the discretion of the Company in the form of placement units.

Juan Vegarra, Chairman and CEO of VENA said: “We are extremely excited by the support of the financial community in North America and Europe; these additional funds will help us expedite our growth plans for 2005”.

With these funds, VENA will in the next months:

· Complete the pre-feasibility study of the Azulcocha poly-metallic mine

· Drill identified targets, confirm historical resources and increase Azulcocha’s tonnage

· Complete second phase drilling campaign in Cu/Au/Mo Aucapampa project

· Fast Track an exploration campaign on the high-sulphidation Tantar gold project

· Commence ground geophysics and phase I drilling campaign on Las Princesas

· Launch field confirmation campaigns on 3 Uranium zones in southern Peru

Directors Options

Vena has also granted its officers and directors 2.1 million options at $0.65 priced close to 25% above current market prices for 5 years.

About Vena Resources Inc.

Vena Resources (TSX.V : VEM) is dedicated to building capital appreciation and creating long term shareholder value by developing the mineral and social capital of Peru. This will be done by deploying its financial resources so that its uniquely “Peru savvy” management team can aggressively acquire and advance high quality projects and people throughout the country.

Vena currently has a portfolio of projects currently encompassing 30,000 hectares of strategically located and highly prospective ground in all regions of the country. A key risk mitigation strategy is to maintain the corporate development portfolio open to all types and classes of mineral wealth and keep the new project “pipeline” full.

The Aucapampa copper-gold property is in planning for a second drill campaign; the Las Princesas gold property is completely encircled by Barrick Gold and PanAmerican Silver claims and is immediately adjacent to Barrick’s Alto Chicama property; a pre-feasibility study of the Azulcocha zinc-manganese property is soon to be completed; and the company has recently announced a technical joint venture with the Peruvian atomic energy commission for the exploration of the extensive Vena uranium concessions.

For further information please visit the Company website at www.venaresources.com
John Cullen, Director (416) 364-7739 or by e-mail jcullen@venaresources.com
Denis Clement, Director (416) 364-1909 or by e-mail dclement@venaresources.com

IR Canada: Renmark Financial Communications Inc.

T: (514) 939-3989 F: (514) 939-3717
Tina Cameron - tcameron@renmarkfinancial.com
Henri Perron - hperron@renmarkfinancial.com

IR Europe: Vicarage Capital
T: +44-20-8715-3271 or +44-(0)-7880-787-080
Martin Wood - martin@vicaragecapital.com

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

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.