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Canada: VEM | Peru: VEM | Germany: V1RA | US: VNARF
Exploring for the next discovery in Peru
[e]: [email protected]
[w]: www.venaresources.com
130 Adelaide Street West, Suite 1010
Toronto, Ontario, Canada M5H 3P5
+1 416 364 7739
Av. Jose Pardo # 601, Of. 1301
Miraflores, Lima, Peru
+511 202 4090
Regulatory Disclaimer
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This presentation contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential exploration results, resources and reserves, and the future plans and objectives of Vena Resources Inc. (“Vena”) are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from Vena’s expectations are disclosed elsewhere in documents that are available to the public at www.sedar.com.
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Vena is a Canadian mining company focused on the exploration and development of Peru’s mineral potential.
Cash flow from mining operations funds core exploration investment - leveraging an accomplished technical team.
Proven project generator model with several world class JV partnerships and expanding.
Vena at a Glance Corporate Objective and Market Facts
Exchanges | Trading Symbols: Canada: TSX:VEM Peru: BVL: VEM Germany: V1RA USA: VNARF
Market Capitalization: $12 million
Cash Position (December 1, 2012): $2 million
Shares Outstanding: 62,300,823
Fully Diluted: 69,686,780
Management Ownership: 5%
Institutional Ownership: 22%
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Portfolio of Assets 50,000 Hectares
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Board of Directors Extensive Mining, Capital Markets and Local Knowledge
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Juan Vegarra, Chairman, CEO & Founder - Juan Vegarra is a native of Peru and continues to foster his significant base of contacts within both the Peruvian government and the mining industry. Prior to his appointment as Chairman and CEO of Vena Resources in 2003, Mr. Vegarra enjoyed a successful career as a Microsoft executive. He was the founder of the Company and manages the overall corporate strategy and direction. He holds an engineering bachelor degree from the University of Maryland as well as an MBA from the University of Washington. Dr. Klaus Zeitler – Klaus Zeitler has been involved in the mining industry for over 30 years. Dr. Zeitler was a managing director of Metallgesellschaft AG, a German metals conglomerate and in 1986 founded and was a director and CEO of Metall Mining, later Inmet, a TSX listed company with assets of over $4 billion and base metal and gold mines in different parts of the world. After having been a director of Teck and Cominco for many years, Dr. Zeitler joined Teck in 1997 as Senior Vice President and had responsibilities for the exploration and development of mines in Peru, Mexico and the USA. Since his retirement in 2002 from Teck Cominco and in addition to being President, CEO and a director of Amerigo Resources Ltd., Dr. Zeitler is also Chairman and a director of Candente Copper Corp., a TSX listed company, and of Rio Alto Mining Limited, a TSX Venture Exchange listed company. He has been actively involved as a director in various junior base and precious metal companies. Dr. Zeitler is a member of the Canadian Institute of Mining and Metallurgy and the Prospectors and Developers Association. Dr. Zeitler holds a PhD in economic planning. Miguel Grau M., LLB - Miguel Grau resides in Peru and has been instrumental in the negotiation and implementation of several internationally viable resource projects, including the Shell-Mobil Camisea Natural Gas project and the Antamina mining project. Mr. Grau was a Director of Antamina until 2005 and chairman of Minera Milpo 1999 through 2002, one of the largest Peruvian zinc producers. He is also a member of the board of TSX listed mining companies like Bear Creek Mining and formerly Peru Copper until sold to Chinalco, and is related in Peru to companies such as Rio TInto, Xstrata, among others.
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Board of Directors – continued Extensive Mining, Capital Markets and Local Knowledge
Jose Roberto Romaña Letts - Jose Roberto Romaña Letts, a native of Peru has a long history and strong ties in the mining sector of Peru. His most recent position in the mining industry was as a senior executive for Volcan, one of Peru’s largest mining companies. Mr. de Romaña has a degree in Management and Finance from St. Edward’s University in Austin, Texas and has attended numerous courses and seminars locally in Peru. Mr. de Romaña is also a director of a number of successful Peruvian companies involved in a variety of industries, including health, distribution and a manufacturer of equipment for the mining, agriculture and fishing activities. John Clarke – John Clarke has been Vice President, Business Development with CGX Energy Inc., a TSXV listed exploration company. Prior to joining CGX, Mr. Clarke was Executive Vice President, Corporate as well as being a director and one of the original founders of Candax Energy Inc., a TSX listed E&P company. Mr. Clarke has over 35 years international experience in the energy sector and a broad capital markets background, including eight years as a Vice President and Senior Oil & Gas Analyst with Deutsche Bank and Octagon Capital Corporation, where he was ranked top North American Oil & Gas Analyst in 2003 and 2004 by Forbes/Starmine. Mr. Clarke has a Bachelor of Science in Physics from Birmingham University, Birmingham, UK and a Masters in Science from Imperial College, London, UK as well as a Bachelor of Arts in English from the University of Calgary. André Gauthier – André Gauthier has over 33 years of experience in the mining exploration. He is currently President of Lara Exploration Ltd. and a Director of the Peruvian Mining Society, President of the Foreign Investment Committee and Director of the SARCC and a founding member and Director of the Canada Peru Chamber of Commerce. Mr. Gauthier commenced his career with SOQUEM in 1977 and from 1978 to 1982 was an Exploration Geologist with Falconbridge Ltd., Exploration Manager with Noramco, from 1989 to 2005 was the International Exploration Manager of Cambior Inc. with a focus on the Andes and most recently was the President of Inca Pacific Resources Inc. until October 31, 2011. He has a Masters Degree in Mineral Exploration and is an active member of many mining and professional organizations.
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Management Team Solid Team with Strong Mining Experience
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David Bent, General Manager, Peru and Vice President, Exploration – David Bent has over 30 years of mining experience and extensive knowledge of exploration for base metals, precious metals and uranium in over a dozen countries. Prior to joining Vena Resources, Mr. Bent was Vice President of Exploration for UNOR Inc. where he was responsible for the uranium exploration program in the Arctic. Mr. Bent worked for many years with Noranda where he held numerous senior positions. At Noranda, Mr. Bent played an integral role in the Real de Angeles (Ag-Zn) discovery which was at one time the second largest Ag producer in the world and the Antamina (Cu-Zn) mine which is expanding from 70,000 tpd to 120,000 tpd with reserves of over 822 million tonnes. He also held senior positions with Newmont Mining and Normany Mining in Peru. Mr. Bent earned his B.Sc. in Geology from Acadia University. He is a member of the Association of Professional Geoscientists of Nova Scotia. Andres Tinajero, CMA, MBA, Vice President, Finance and Chief Financial Officer - Mr. Tinajero has over 15 years of business experience, having supported a broad range of industries, including mining, not for profit, manufacturing and retail; establishing a strong accounting and business skill set, transitioning into the public sector serving in leadership roles for small and medium sized companies in extractive industries. During this same period, he has served as CFO of a number of start-ups and medium sized Public companies across Canada. Currently he serves as Director for Lakeside Minerals. He holds degrees in Business Administration and an MBA, and is also a Member of the Canadian Institute of Certified Management Accountants, and currently enrolled in the Director's Program through the University of Toronto. Silvia Dedios, Vice President, Corporate Development – Mrs. Dedios has over 20 years of finance, administration and business experience. Prior to joining Vena Resources, Mrs. Dedios was a senior manager in companies related to the mining, production and commerce industries in Peru. Mrs. Dedios holds an MBA in business administration and advanced degrees in Finance.
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Miguel Sanchez, Technical Manager – Mr. Sanchez has over 10 years of mining experience in base and precious metals with a focus on the design and operation of underground and open pit mines, including Vena’s former Azulcocha zinc mine. Prior to joining Vena, Mr. Sanchez was involved in the development of a number of mining projects in Peru on behalf of Atacocha Mining, Southern Copper, Buenaventura and Pan American Silver in senior positions of responsibility. Mr. Sanchez is a Mining Engineer with a degree from Pontificia Universidad Catolica del Peru. Matthew Husson, Corporate Secretary - Mr. Husson is a lawyer practicing corporate and securities law with a focus on the mining industry. He is currently an associate at Irwin Lowy LLP and a member of the Law Society of Upper Canada. He has experience representing mining issuers in public offerings, private placements, mergers and acquisitions, stock exchange listings and he provides advice relating to continuous disclosure and other regulatory compliance obligations. Mr. Husson obtained a Bachelor of Laws from the University of Alberta and an Honours Bachelor of Arts (Political Science) from McMaster University. Charlotte May, Senior Marketing Manager - Ms. May has over 20 years experience gained in the institutional broker industry and the resource sectors. Ms. May provides consulting services to a number of junior resource companies in the areas of marketing, corporate secretarial and public company administration.
Management Team Solid Team with Strong Mining Experience
Esquilache – Ag/Au Historical High Grade Silver Mine
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1,000 ha located in the central zone of a large caldera only 28 km from Chucapaca (7.6 mil. oz. Au eq.)
Historical silver mine that produced 400 tpd from 1950 through 1962 by Hochschild and until 1973 by informal miners
Numerous un-mined or partially mined veins in southern zone with adit access
Two drill programs and 43-101 completed
Esquilache – Ag/Au Historical Silver Mine
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Work to date (2009 to 2012) (total ~$1.5 million) 2,378 surface geochemical samples 431 underground samples 31 surface DDH holes (5,710 metres)
Exploration work focused on areas with little previous mining
Only ~60% of the South zone has been tested by wide spaced (200 metres x 200 metres) surface geochemical sampling which leaves a majority of the total project untested
Sampling has shown economic silver veins are ready for mining close to portal entrances
Significant drill results (true width) include: 977.0 g/t Ag + 4.88 g/t Au over 2.0 metres 506.0 g/t Ag over 5.0 metres 254.5 g/t Ag over 2.0 metres 348.4 g/t Ag + 1.93 g/t Au over 2.8 metres 320.9 g/t Ag + 0.95 g/t Au over 2.0 metres
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Esquilache – Ag/Au Historical Silver Mine
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Esquilache – Ag/Au Idealized Section of the San Antonio Caldera
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Esquilache – Ag/Au Structures and Intrusives
South Zone: Mamacocha Target
North Zone: Creston Target
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Systematic sampling and short drilling on vein
Resources Certification by QP (High Quality work)
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Esquilache – Ag/Au Historical Silver Mine
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Azufrada Dump
Nv.06 Victoria Vein Dump
Victoria B Dump
Tasks being performed: Systematic backhoe sampling Metallurgical tests Preliminary mining plans
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Esquilache – Ag/Au Potential Resources / Reserves from old Waste Dumps
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Esquilache – Ag/Au North Zone – Creston Target – Potential Sepulveda Pit
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>11 Oz/t Ag 8-11 Oz/t Ag
<8 Oz/t Ag
<8 Oz/t Ag
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Esquilache – Ag/Au North Zone – Creston Target – Potential Sepulveda Pit
Sepulveda Vein
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Longitudinal Blanca Vein – Creston Target
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Esquilache – Ag/Au Historical Section of Blanca Vein – Underground Workings
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Mamacocha Vein
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Esquilache – Ag/Au South Zone – Mamacocha Target – Potential Elvira/Ivet Pit
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North Zone (Creston) South Zone (Mamacocha)
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Esquilache – Ag/Au Local Geology
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ESH-30-2011 Ivet/Elvira Vein 188.15-191.10 m 2 m at 0.11g/t Au, 254.50g/t Ag
Ag g/t
ESH-24-2011 Ivet/Elvira Vein 102.00-124.00 m 22 m at 1.93g/t Au, 348.36g/t Ag
Open Pit Model
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Esquilache – Ag/Au Drill Holes ESH-24, 27 & 30
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Esquilache – Ag/Au Surface Sampling
Significant Results – 132 Samples: 1,147.00 g/t Ag, 1.40% Cu, 28.05% Pb
and 16.67% Zn across 3.30 metres • Au: 20 samples > 1 g/t,
• 2 samples > 2 g/t, • 3 samples > 5 g/t
• Ag: 101 samples > 60 g/t,
• 52 samples >120 g/t, • 32 samples > 200 g/t
• Pb: 84 samples > 1%,
• 50 samples > 2%, • 26 samples > 3%,
• Zn: 101 samples > 1%,
• 73 samples > 2%, • 41 samples > 3%
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Buried Porphyry Cu?
Katy Vein
Gladys Vein
Mina de Plata
Pucara - Au/Cu
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1,662 ha
Located in a major structural corridor
22 DDH completed to date
Work to date totals $3 million
Previous operator (Miski Mayo) conducted a geophysical survey (IP, ground magnetics) and completed eight DDH holes
Known mineralized vein structures with base metal values
Significant depth potential on veins + potential porphyry mineralization
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Pucara – Au/Cu Project Overview
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Significant DDH Intersections
Significant underground sample results
DRILLHOLE FROM TO WIDTH Au PPM Ag PPM Cu% Pb% Zn% ZonePUC-001-06 13.40 14.35 0.95 1.58 <10 0.55 <0.01 0.02 Gladys SurPUC-002-06 84.00 89.60 5.60 1.06 <10 2.50 <0.01 0.06 Gladys VeinPUC-007-06 75.40 94.40 19.00 0.08 <10 0.04 4.51 0.08 Lucero VeinPK-004-07 69.85 72.55 2.70 2.99 <10 0.82 0.02 0.02 Santo Tomas VeinPK-005-07 151.15 155.35 4.20 0.15 <10 1.09 0.01 0.01 Gladys SurPK-006-07 207.10 210.75 3.65 1.97 <10 1.24 0.01 0.02 Gladys SurPK-007-07 86.30 87.30 1.00 6.21 4.30 1.05 0.007 0.02 Gladys VeinPK-008-07 23.10 34.70 11.60 0.22 4.01 0.98 0.04 0.04 Gladys VeinPK-010A-07 63.10 66.10 3.00 2.90 2.60 0.82 0.012 0.01 Manganeso ZonePK-011-07 115.15 119.15 4.00 3.04 <10 0.31 0.06 0.05 Katy VeinPK-012A-07 50.50 58.55 6.85 2.65 <10 0.07 0.01 0.02 Lucero VeinPK-015A-07 76.60 80.00 3.40 0.54 <10 0.06 0.06 0.03 Lucero VeinPK-017-07 142.70 146.20 3.50 0.36 7.37 1.60 0.71 0.08 Lucero VeinPK-018-07 119.49 134.40 14.92 0.23 18.66 0.19 8.30 0.07 Lucero VeinPK-019A-07 45.00 47.50 0.85 0.01 <10 0.03 4.89 0.09 Lucero VeinPK-020-07 104.95 106.40 1.45 0.02 95.31 0.36 2.55 0.60 Mina de PlataPK-020A-07 57.00 58.30 1.70 0.04 36.29 0.47 14.14 0.25 Mina de PlataPK-022-11 48.90 52.90 4.00 1.18 0.90 0.01 0.20 0.30 Lucero Vein
Sample Width Au PPM Ag PPM Cu % Pb % Zn % Zone380 1.50 2.07 10.30 5.66 0.10 0.08 Gladys Vein381 1.70 13.94 6.40 5.07 0.04 0.08 Gladys Vein389 1.16 2.66 7.30 3.34 0.56 0.11 Gladys Vein390 1.50 6.21 12.30 4.74 0.67 0.12 Gladys Vein391 2.10 1.39 15.20 13.00 0.46 0.10 Gladys Vein393 1.56 3.39 15.70 2.74 0.87 0.17 Gladys Vein397 2.00 12.18 10.10 7.62 0.23 0.13 Gladys Vein1501 1.70 3.41 5.10 2.71 0.25 0.07 Gladys Vein1517 1.70 3.02 5.60 1.71 0.24 0.11 Gladys Vein1525 2.00 3.58 14.20 2.30 0.57 0.09 Gladys Vein1531 1.33 5.00 2.70 1.22 0.17 0.03 Gladys Vein1532 1.34 3.50 4.60 0.60 0.15 0.04 Gladys Vein1542 0.90 4.15 10.60 1.92 0.55 0.10 Gladys Vein1544 1.70 4.84 22.70 1.91 0.77 0.05 Gladys Vein1553 1.10 3.39 20.90 6.51 0.88 0.09 Gladys Vein1556 1.10 4.93 15.10 3.55 1.53 0.22 Gladys Vein1559 1.10 3.23 19.20 3.33 2.39 2.38 Gladys Vein1107 1.10 0.30 <10 2.07 0.03 0.03 Katy Vein1163 1.60 1.26 3.47 1.19 0.01 0.02 Katy Vein1164 1.30 2.54 <0.3 0.12 0.001 0.02 Katy Vein1166 1.60 2.28 2.87 1.26 0.004 0.03 Katy Vein1167 1.30 0.63 5.51 0.84 0.002 0.03 Katy Vein1168 1.65 10.88 9.69 2.82 0.03 0.03 Katy Vein1170 1.75 1.57 3.77 2.25 0.03 0.03 Katy Vein1180 1.20 4.27 2.08 0.03 0.00 0.02 Katy Vein1254 2.00 2.56 < 20 1.91 0.28 0.20 Katy Vein1256 2.10 1.48 < 20 2.51 0.07 0.02 Katy Vein1258 2.15 1.48 < 20 2.45 0.11 0.03 Katy Vein
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Pucara – Au/Cu Drill Program
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Pucara – Au/Cu Exploration Plans
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Granja Nueva – Au/Cu Northern Peru – Next to World Class Deposit – La Granja
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Granja Nueva – Au/Cu Idealized Geological Model
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Vein System
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JR 24 – Epithermal Veins Pucacocha Area
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Masma Project Regional Context
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Azulcocha East – Zn Near Mine Exploration
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DDH No. From (m) To (m) Length (m) Zn % Mn %86.45 89 2.55 4.25 6.69
89 92 3.0 7.36 7.9092 96 4.0 9.00 10.50
86.45 96 9.6 7.22 8.67
73 74 1.0 3.45 7.0074 78 4.0 11.40 8.1078 80 2.0 9.30 8.0073 80 7.0 9.66 7.91
96 98 2.0 6.60 10.0098 100 2.0 11.50 8.60100 108.5 8.5 9.00 8.6696 108.5 12.5 9.02 8.86
87.3 90 2.7 4.90 6.0090 92 2.0 8.20 7.3092 98 6.0 8.70 7.90
87.3 98 10.7 7.65 7.31
101 102 1.0 3.20 6.60102 103 1.0 3.50 5.50103 104.5 1.5 6.20 7.20101 104.5 3.5 4.57 6.54
Lengths included are core lengths - not true widths.
B7
B8
Azulcocha East Significant DDH Intersections
B4
B5
B6
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Azulcocha East – Zn Near Mine Exploration
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Uranium Assets 15,000 Hectares
15,000 hectares located in southern Peru
Partner with Cameco Corporation, world’s second largest uranium producer with average sales of 31.8 million pounds U308
Five drill programs have been undertaken on the Corporation’s uranium properties and a 43-101 completed
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Cameco has the option to increase its ownership to 60% by completing a feasibility study and to 70% by initiating mine development
Future investment in uranium in Peru –
including acquisition of additional uranium interests by either party – will be made through Minergia
Vena is the operator of the joint
venture company in Peru
Minergia SAC
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Uranium Assets Joint Venture with Cameco
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2012 Resource Summary - U308
Measured 5,691,588 lb
Indicated 12,525,199 lb
Inferred 17,422,031 lb
Property - 4,900 hectares
Uranium in ignimbrites
14,534 metres of DDHs completed during 2006 to 2008
12,316 metres of DDHs completed during 2009 and 2010
11,109 metres of DDHs completed during 2011
2013 work plans being developed
NI 43-101 resource estimate filed on SEDAR.
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Uranium Assets Macusani Region – Technical Work Completed
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Awards for Social Responsibility and Environmental Leadership
Canada: VEM | Peru: VEM | Germany: V1RA | US: VNARF
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