Vena Resources Reports 2009 First Quarter Financial Results

TORONTO, ONTARIO, May 19 (MARKET WIRE) --
Vena Resources Inc. ("Vena" or the "Company") (TSX: VEM)(LIMA:
VEM)(FRANKFURT: V1R) filed its first quarter financial and operating
results on Friday, May 15 for the three months ended March 31, 2009.

Given current market conditions, Vena is monetizing several non-core
assets to raise funds without diluting existing shareholders. Monetizing
measures being implemented include joint ventures, sales of non-core
equipment and sales of properties that are not strategic for the long
term. These funds, plus funds received from approved VAT recoveries
directly from the Government of Peru as well as funding from partners
(Cameco, Glencore and Consorcio Minero Horizonte) will enable Vena to
continue to deliver shareholder value while minimizing cost structure. As
metal prices recover and the global economic crisis eases Vena will
reassess investments levels.

From an operational point of view, Vena has been actively exploring for
Uranium in a number of project areas in southeast Peru with the technical
support of Cameco and Vena has agreed with Cameco that both companies
will invest a total of $2.5 million this year in two major drill programs
(Lagunillas and Macusani) with the goal of delineating a 43-101 compliant
Uranium resource in the near term. Consorcio Minero Horizonte, a Peruvian
gold mining company, has completed a series of technical tests on the
Pucara project which will assist the Company in determining its plans for
the Pucara project. Sudamericana de Carbon, Vena's wholly-owned
subsidiary focused on the coal business, is advancing the permitting
process for Oyon to increase sales to the local cement manufacturers, as
well as purchase land in northern Peru to stockpile and
calibrate/classify anthracite coal. Coal demand is forecast to increase
in the near term and these sales will generate cash flow in the near term
for the Company.

"Over the quarter, we have made significant progress in reducing our cost
structure even further. We are focusing our resources on key projects to
enhance value as metal prices recover, monetizing non-core assets and
building new partnerships," said Juan Vegarra, Chairman and CEO of Vena.

Financial Review

The Company incurred a net gain of $388,592 for the three months ended
March 31, 2009 compared to a loss of $2,142,133 in the same period of
2008. The difference was primarily attributed to unrealized foreign
exchange and decrease of expenses. The Company's approach to managing
liquidity risk is to ensure that it will have sufficient liquidity to
meet liabilities when due. As at March 31, 2009, the Company had current
assets of $4,134,039 (2008 - $4,252,249) and current liabilities of
$3,264,847 (2008 - $3,709,896), providing working capital of $869,192
(2008 - $542,353). All of the Company's financial liabilities and
receivables have contractual maturities of less than 90 days and are
subject to normal trade terms.

In April and May 2009, the Company received $365,865 from the Government
of Peru for VAT reimbursements and an additional amount of $510,000 is
anticipated in the next quarter and $480,000 later this year.

Details of the Company's financial results are described in the unaudited
consolidated financial statements and Management's Discussion and
Analysis for the three months ended March 31, 2009 available on SEDAR -
www.sedar.com.

For further information on Vena Resources, please visit the Company
website at www.venaresources.com. Interested parties are also invited to
visit the Vena Resources IR Hub at
http://www.agoracom.com/ir/venaresources where questions can be posted
and responses given the same day, or a review of questions and answers
posted by others is available. Alternatively, investors can e-mail
questions and correspondence to vem@agoracom.com.

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: 79,700,324

Fully-Diluted: 88,356,575

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
(416) 364-5400 (FAX)
jvegarra@venaresources.com
www.venaresources.com

Copyright 2009, Market Wire, All rights reserved.

-0-