To advance the core agreement already in place, Trafigura will lend to Azulcocha Mining SA, a wholly-owned subsidiary of Vena Resources, US$2.5 million in the form of a 9% convertible debenture with a two year term exercisable into common shares of Azulcocha Mining SA for a 15% ownership of the Azulcocha Regional Project. In addition, Trafigura has the option to increase its participation up to 51% in Azulcocha Mining SA if additional milestones are achieved. Vena will grant 4,016,913 warrants to Trafigura, such warrants being exercisable as to 2,272,727 warrants exercisable into common shares at $0.33 for a period of 18 months post closing and 1,744,186 warrants exercisable into common shares at $0.43 for a period of 24 months post closing.

The US$2.5 million are earmarked to complete the following significant milestones:

Juan Vegarra, Chairman and CEO of Vena commented: "Together with Trafigura we have decided to amend the currently approved 500 tpd EIA and overall engineering project to support a 2,000 tpd operation including a larger tailings deposit and to increase the tonnage and upgrade the resource quality of the underground mine. Vena will be releasing an updated NI 43-101 in the near future which will merit a larger operation leading to lower operating costs allowing the Company to better deal with the current volatility in the Zinc market and be ready to scale up operations as the global economy rebounds in the near-term."