Vena Significantly Increases Uranium Resource Estimate at Macusani Indicated Resources Increased to 8.32 Million Pounds of U308 and Inferred Resources Increased to 14.21 Million Pounds of U308

TORONTO, ONTARIO -- (Marketwire) -- 11/02/10 -- Vena Resources Inc. (TSX: VEM)(LIMA: VEM)(FRANKFURT: V1R)(OTCBB: VNARF), a Company with strong partnerships with some of the world's largest mining companies, is pleased to announce that Henkle and Associates ('Henkle') has completed its first resource estimate for Minergia S.A.C., a uranium exploration company owned by Vena (75%) and Cameco Corporation (25%). Henkle's NI 43-101 compliant report will be published by the end of November.

This press release encompasses all of the properties in the Macusani region and includes the resource estimate for the Tantamaco property that was disclosed in the Company's press release of October 14th. The current resource numbers are based on 25,187 meters of diamond drilling in 158 drill holes performed over four years covering a small portion of the prospective target areas and indicates an overall resource estimate for the Macusani region of 8,316,818 pounds of indicated resources and 14,211,857 pounds of inferred resources at 0.18 pounds per ton cutoff and 7,618,216 pounds of indicated resources and 13,172,202 pounds of inferred resources at 0.36 pounds per ton cutoff as outlined in the table below:

                               INDICATED RESOURCES
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Prospect                   0.18 Lb/Ton (90.72 ppm) U3O8 CUTOFF
                        Tons      Lbs U3O8 Lb/Ton U3O8    ppm U3O8   % U3O8
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Tantamaco         15,018,504     7,598,193       0.506       253.1    0.025
Nuevo Corani       3,530,769       706,660       0.200       100.7    0.010
Isivilla              59,432        12,016       0.202      101.15    0.010
Tuturumani                 0             0                    0.00    0.000
Calvario Real              0             0                    0.00    0.000
Totals            18,608,705     8,316,868       0.447      223.62    0.022
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                               INDICATED RESOURCES
---------------------------------------------------------------------------
Prospect                   0.36 Lb/Ton (181.44 ppm) U3O8 CUTOFF
                        Tons      Lbs U3O8 Lb/Ton U3O8    ppm U3O8   % U3O8
---------------------------------------------------------------------------
Tantamaco         11,648,037     7,089,536       0.609      304.36    0.030
Nuevo Corani       1,524,868       528,681       0.347      173.27    0.017
Isivilla                   0             0                    0.00    0.000
Tuturumani                 0             0                    0.00    0.000
Calvario Real              0             0                    0.00    0.000
Totals            13,172,905     7,618,216       0.578      289.39    0.029
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                               INFERRED RESOURCES
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Prospect                   0.18 Lb/Ton (90.72 ppm) U3O8 CUTOFF
                        Tons      Lbs U3O8 Lb/Ton U3O8    ppm U3O8   % U3O8
---------------------------------------------------------------------------
Tantamaco         14,997,623     7,369,497       0.491      245.85    0.025
Nuevo Corani       8,088,525     3,437,884       0.425      212.73    0.021
Isivilla           4,672,106     1,474,393       0.316      157.85    0.016
Tuturumani         6,031,431     1,159,868       0.192       96.16    0.010
Calvario Real      1,413,372       770,215       0.545      272.61    0.027
Totals            35,203,067    14,211,857       0.404      201.85    0.020
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                             INFERRED RESOURCES
---------------------------------------------------------------------------
Prospect                   0.36 Lb/Ton (181.44 ppm) U3O8 CUTOFF
                        Tons      Lbs U3O8 Lb/Ton U3O8    ppm U3O8   % U3O8
---------------------------------------------------------------------------
Tantamaco         12,376,120     6,996,922       0.565      282.59    0.028
Nuevo Corani       5,011,462     3,099,041       0.618      309.35    0.031
Isivilla           3,699,196     1,426,146       0.386      192.78    0.019
Tuturumani         2,248,497       879,877       0.391      195.50    0.020
Calvario Real      1,413,372       770,215       0.545      272.61    0.027
Totals            24,748,647    13,172,202       0.532      266.56    0.027
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Note: Based on Short Ton equals 2,000 LB

This report was prepared by William R. Henkle, Jr., P.Geo., Vena's Qualified Person as defined by NI 43-101.

Upcoming Drill Program

The 2011 drill plan is primarily targeted to increase the resources at Tantamaco by following the trend of higher grade, disseminated mineralization to the southwest of hole TA-079. The near surface mineralized intersections at Isivilla in holes IS-06 and IS-04 will be followed up by 10 widely spaced holes which could result in additional resources. Permitting is in progress and it is anticipated that the program will start in January 2011.

In addition, there were 48 holes totalling 6,200 meters drilled at Nuevo Corani/Amaritza during the 2006 through 2008 period with mixed results. The mineralization was dominantly fracture - filling within the upper A horizon which is eroded off on both sides of the northeast - southwest trending ridge. Although the size and grade potential may be limited, a reportable resource could be drilled off fairly quickly.

About Vena Resources

Vena Resources Inc. is a Canadian mining company focused on the exploration and development of Peru's mineral potential. Employing a model of diversification across metals and regions in Peru to mitigate investment risk, the Company has four divisions: Mining, Clean Energy, Precious Metals and Base Metals. Together with the Company's strategic partners, Cameco Corporation, Gold Fields Limited and Trafigura Beheer B.V., Vena will advance its significant portfolio of almost 80,000 hectares this year. Through its board of directors and advisors, Vena possesses a unique quality of skills and experience in management, mining and finance globally.

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.

Shares Outstanding: 95,529,965

Fully-Diluted: 120,027,477

The TSX does not accept the responsibility for the adequacy or accuracy of this release.

Contacts:

Vena Resources Inc.

Juan Vegarra

Chairman & CEO

(416) 364-7739, ext. 120
jvegarra@venaresources.com


Vena Resources Inc.

Andres Tinajero

Chief Financial Officer

(416) 361-2838
atinajero@venaresources.com
www.venaresources.com