July 19, 2005-- Toronto, Ontario --Vena Resources Inc. (TSX.V: VEM & BVL: VEM) announces that it has received the NI 43-101 report for a mineral resource estimate completed by Murray Lytle, P.Eng. and Richard May, P.Eng., independent qualified persons. The probable reserve estimate of 908,400 tonnes is described in a National Instrument 43-101 report filed on SEDAR and a summary is shown on Table 1 below. The complete report can also be found at the Company’s web site at www.venaresources.com .

In May 2005, a gridded seam computer model was developed for each of three separate resource areas. The information for the model was obtained from drill holes located roughly 30 meters apart and zinc, manganese and gold assay values were determined at a sample interval of 1 meter. The total calculated resource of 1,060,000 tonnes was discounted by 85,800 tonnes of inferred resources and by 67,300 tonnes to account for a 0.35 meter mining loss in the recovery of the mineralized material to arrive at the probable mineral reserve quoted below.

The 85,800 tonnes inferred resource was assumed for an area that was not accessible to drilling and grades of 2.8% zinc, 10.8% manganese and 1.1 grams per tonne of gold were assumed in the model for this area. Additional drilling will be required to upgrade the inferred resources to an indicated or measured resource.

The Qualified Person observed the drilling, sampling and assaying procedures and 41 referee assays were sent to a second laboratory to check for systemic biasing. The calculated variation in the assays was less than 6 percent.

Table 1: Indicated Resource Estimate

The pre-feasibility study, upon which these results are based and supervised by the aforementioned qualified persons is currently being completed for translation and will be available on the Company website later this month. The study included drilling 56 hollow core auger holes, assaying of the tailings cores every 1 meter for zinc, gold and manganese and bench scale metallurgical testing for zinc and manganese dioxide recovery.

The metallurgical testing showed that a marketable zinc concentrate grading over 55% zinc, can be produced at a total recovery of 66%. It was also shown that a manganese dioxide product can be produced at a total recovery of 71.1%. For the purposes of the 43-101 report, gold was not used in the project economics to determine the reserve size. The technical report concluded that “to this point in time it remains unclear whether the gold can be economically extracted”.

The manganese dioxide was recovered from the tailings using both a selective flotation method and a sulfuric acid leach. From the table below it can be seen that the acid leach resulted in an acceptable recovery.

The 43-101 report based on the preliminary pre-feasibility numbers reports that the tailings can be recovered at a mining and tailings cost of US$3 per tonne and sent to the metallurgical plant in a slurry form. In order to recover the zinc, the tailings material must be reground to 100% passing 100 mesh and then the minerals of interest are recovered in a 3 phase flotation process at a total plant cost of US$6.50 per tonne. These costs were developed from first principles, local labour and local equipment rental and utility costs.

Project economics were calculated at a production rate of 500 tonnes per day. The total capital costs, based on fax and telephone quotations from Peruvian suppliers, for the proposed operation is estimated to be US$7.3 million. Discussions are currently underway with three interested parties to provide purchaser financing for the project capital costs. The cost to take the project to final feasibility study completion is estimated to be US$655,000.

The pre-feasibility study was based on a plant production rate of 500 tonnes per day with two products generated; manganese dioxide and a zinc concentrate. The tailings from the process are assumed to be re-deposited near the original tailings area.

The results of this economic analysis are shown below. The mine, plant and infrastructure capital cost is estimated to be US$7,300,000 and the average unit direct mine operating cost is US$11 per tonne of concentrate processed. The fiscal terms assumed in the analysis include the depreciation of all capital items on a 30% declining balance basis and the payment of 30% Peruvian income tax. The model does not include details on sales tax or inventory cash flows.

The base case results of the analysis indicate that the project is economic, returning a base case net present value of US$37,200,000 and an internal rate of return of 157%. Payout of the project is 0.3 years.

The technical report concluded that “to this point in time it remains unclear whether the gold can be economically extracted”.

This report is focused on the tailings resource. The Company is also evaluating the potential for additional in-situ mineralization within the old mine workings as well as exploration targets identified within the Company’s concession. The Company has recently acquired the complete mining and technical records from the previous mine owner and work is underway to quantify the remaining mineralization

Manganese Market

According to the International Manganese Institute – www.manganese.org Manganese is inextricably linked to the fortunes of steel. The manganese-ore benchmark price came into effect on April 1, 2005 with a record increase of 63% above the 2004 mark. Between 2003 and 2004, real consumption of manganese alloys grew by 1.1 million tonnes, from 8.9 million tonnes in 2003. World annual production of manganese alloys exceeded the 10.3 million tonne mark, which represented an increase of 14% on the 2003 output. The International Manganese Institute claims there is no satisfactory substitute for manganese in steel that combines the alloying metal's relatively low price with its technical benefits. Hence, manganese will continue to track the growth in the global steel industry, which consumes 95% of manganese production. Each of the numerous grades of steel requires a different quantity of manganese. Today, the average unit consumption for industrialized countries is about 9.5 kg of manganese alloy per tonne of steel. There is a close relationship between the demand for manganese and the demand for other raw materials used in steelmaking, such as iron-ore.

About Vena Resources Inc.

Vena Resources is dedicated to building capital appreciation and creating long term shareholder value by developing the mineral resources and social welfare of Peru. Vena Resources commitment will be demonstrated by deploying its financial resources to aggressively acquire and advance high quality people and assets throughout the country.

For further information please visit the Company website at www.venaresources.com
or contact one of the following:

Bryce Bradley , Corporate Development (416) 666-0519 -- email bbradley@venaresources.com
Denis Clement, Director (416) 364-1909 -- email 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 does not accept the responsibility for the adequacy or accuracy of this release.

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 .