March 8, 2005--Toronto, Ontario--Vena Resources Inc. (TSX.V : VEM) announces that the $2 million private placement announced on March 3, 2005 has been over-subscribed by 100%. Due to a change in the market price, and the fact that the Company originally price protected with the TSX Venture Exchange for up to $2 million, the second tranche of financing will be done at $0.48 per unit. Each unit will consist of one common share and ½ common share purchase warrant. Each full warrant entitles the holder to purchase an additional common share at a price of $0.65 per share for a period of 18 months from closing of the private placement as to the $0.45 unit and $0.60 as to the $0.48 unit. Therefore, Vena will be offering subscribers to the issue one-half at the original $0.45 unit price and one-half at the $0.48 unit price providing subscribers with a blended cost of $0.465 per Unit and a blended common share purchase warrant exercise price of $0.625. The securities issued on closing of the private placement will be subject to a four-month hold period. The private placement is subject to regulatory approvals. A finder’s fee may be paid to certain parties at the discretion of the Company.

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 develop high quality projects and people throughout the country.

Vena has a portfolio of projects currently encompassing 30,000 hectares of strategically located and highly prospective ground in all regions of Peru. A key risk mitigation strategy is to keep the corporate development portfolio open to all types and classes of mineral wealth with a proven capacity to keep the new project “pipeline” full. For further information please visit the Company’s website at http://www.venaresources.com/ .

FOR FURTHER INFORMATION CONTACT:

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 www.renmarkfinancial.com
Tina Cameron tcameron@renmarkfinancial.com
Henri Perron hperron@renmarkfinancial.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.