August 30, 2006--Toronto, Ontario--Vena Resources Inc. (TSX.V: VEM, Lima: VEM, Frankfurt: V1R, OTC: VNARF) announces that the rehabilitation of two underground levels (levels +40 and 0) is sufficiently well advanced  that underground drilling can commence.  The Company has hired contractors to execute a  drilling campaign from surface (12 holes) and from underground (9 holes) as part of the program to confirm the historical Zinc resource leading to a 43-101 compliant report and also will target promising areas near surface as shown in the longitudinal section below.  In total Vena has so far rehabilitated over 1,800 meters between adits, crosscuts and raises.

Vena is also advancing with all required permits to commence a mining operation at the earliest opportunity.  EQUAS SA has been hired to assist the company with: (1) the completion of the Category II environmental impact study; (2) technical reports to receive the “Mine Operations Certificate”; and (3) explosive permits.

Gordon Grams, P.Eng., the Qualified Person on this project, has reviewed this technical information on behalf of the Company.  Vena reminds readers that the Company has not yet done sufficient work to classify the historical estimate as a mineral resource; therefore it is not NI43-101 compliant.  The company is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.  A complete report on the historical mining operation and remaining resources was published by Cesar Munoz from Newmont Peru and Lluis Fontbote from Department de Mineralogie in Geneva Switzerland on October 1995 – “El yacimiento de Zn-As-(Au) Azulcocha – Geological Society of Peru”.

The Company is also pleased to announce that it has hired a prominent mining engineer in Peru to lead all technical efforts in Peru.  Ing. Jesus Vilca Masias who was the former general manager of the San Cristobal mine (3,000 tons per day), was responsible for managing over 3,000 workers and an annual budget of US$50 million.  San Cristobal was later sold for over US$125 million in 1997.  More recently Ing. Vilca was the General Manager of the Cerro de Pasco mine (7,000 tons per day) which had over 4,000 workers and a US$90 million per year budget.  Under Ing. Vilca’s leadership, the known reserves in San Cristobal were increased by 2 millions tons and in Cerro de Pasco by 6 million tons.  Ing. Vilca has advanced degrees from the “Universidad Nacional de Ingenieria” in Peru and the “Institut National Polytechnique de Lorraine” France.

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.