October 18, 2006 - Toronto, Ontario – Vena Resources Inc. (TSX.V: VEM, Lima: VEM, Frankfurt: V1R, OTC: VNARF) has completed its due diligence of the Huachon gold project in central Peru and is highly encouraged by the results. Sampling across the vein face every 10 meters in the workings returned assays which averaged 10.76 gpt in the Maria Angelica vein with average width of 0.44 meters. Community and government permitting is underway to expand the existing workings and collect bulk metallurgical samples leading to a near term mining decision.

Management is very encouraged by the results of the recent review of the Huachon area where 43 underground and surface samples across quartz veins returned preliminary assays as high as 77.7 gpt Au over a 0.31 meter underground sample in the Maria Angelica vein. Maria Angelica vein widths underground vary from 0.05 meters to 1.21 meters. Vein wall rock assays were low and averaged 0.09 gpt Au. Assays on surface outcrops have returned average widths of 0.30 meters with 2.7 gpt Au. Underground workings and discontinuous surface outcrops suggest a possible strike length of 3 kilometers for the entire system of parallel veins .

Development drifts along the Maria Angelica vein at level 3200 have mined portions of the veins between 3200 meters and 4000 meters above sea level. An exploration drilling program will test this possible 800 meters of downdip vein extension and potentially intersect parallel veins that don’t outcrop. Four parallel vein sets have been identified as initial targets for exploration and bulk sampling along levels 3220 and 3250. The complete database as well as sampling map will be posted on the Company’s web site www.venaresources.com .

Huachon is located in central Peru near the established mining center of “Cerro de Pasco” a prolific Mining District. The Project geology is very similar to the Pataz Batholith which currently hosts the largest underground gold mines in Peru, producing approximately 400,000 oz Au per year. The Pataz gold mineralization is hosted in quartz veins which are of similar age and geological setting as the Property. Huachon lies along the southern extension of the NW trending regional structural zone which aligns the Poderosa, Marsa and Horizonte mines.

The Qualified Person for this press release is Dr. Greg Myers, a Professional Geologist. Dr Myers has reviewed the data summarized in this release and considers it to be reliable. Dr. Myers has not visited the property yet. Samples were analyzed at the ALS Chemex Laboratory in Lima, Peru, an accredited and certified analytical facility.

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

Juan Vegarra – Chairman & CEO (416) 364-7739, ext. 120 – email jvegarra@venaresources.com

Pro-Edge Consultants Inc., Tracy Weslosky or Fred Cowans – Managing Partners

(866) 544-9622 or (416) 581-0177 – info@pro-edge.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.