Vena Enters Agreement to Sell Uranium Assets to Azincourt Uranium

Vena Enters Agreement to Sell Uranium Assets to Azincourt Uranium 
TORONTO, Nov. 22, 2013 /CNW/ - Vena Resources Inc. (the "Company" or "Vena") 
(TSX: VEM) (Peru: VEM) (Germany: V1RA) (USA: VNARF) announces that it has 
entered into a share purchase agreement with Azincourt Uranium Inc. (TSXV: 
AAZ) ("Azincourt") to sell the Company's 50% equity interest in Minergia 
S.A.C. ("Minergia"), a joint venture company owned by the Company and Cameco 
Global Exploration Ltd. ("CGE"), which owns and operates the Macusani and 
Muñani uranium projects in the Puno department of southeastern Peru. 
Under the terms of the share purchase agreement, Azincourt will acquire Vena's 
50% ownership in Minergia in exchange for a total consideration of $1,000,000, 
of which $750,000 will be payable in 2,525,252 common shares (the "Payment 
Shares") in the capital of Azincourt which number of common shares was 
determined based on the volume weighted average trading price of such common 
shares for the 10 days immediately prior to signing of the share purchase 
agreement, and $250,000 in cash on closing. 
The closing of the purchase and sale transaction under the share purchase 
agreement is subject to a number of conditions, including the termination of 
its joint venture with Cameco Corporation and CGE and various related 
agreements with respect to Minergia, and the contemporaneous sale by CGE of 
its 50% interest in Minergia to Azincourt. The share purchase agreement also 
provides that Juan Vegarra, Vena's Chairman and CEO will be appointed as a 
director of Azincourt. 
In a related transaction, CGE granted to the Company the right to purchase 
100% of the common shares in the capital of Azincourt that it will receive as 
consideration for the sale of its interest in Minergia to Azincourt for a 
period of five months post the closing date at a price equal to the purchase 
price plus an amount equal to 50% of the positive amount, if any, by which the 
market price exceeds the purchase price. 
Vena will continue to operate the Macusani and Muñani uranium projects in 
Peru under the tutelage of Ted O'Connor. Azincourt has agreed to invest 
between $1.5 and $2.0 million in the projects annually. 
Under the share purchase agreement, Vena agreed to a voluntary resale 
restriction, whereby none of the Payment Shares may be traded during the first 
12 months following the date of issuance and, from such time, the Payment 
Shares become freely tradeable as to 15% on that 12 month date, an additional 
15% on each of the 15(th), 18(th), 21(st) and 24(th) months, and the remaining 
25% on the 27(th) month following the date of issuance. 
Juan Vegarra, Vena's Chairman and CEO stated, "The divestment of Minergia is 
part of our strategy to spin off our uranium assets and combine them with 
other assets in other countries with significant upside. We are very pleased 
and fortunate to have made this deal with Azincourt, a company that is headed 
by Ted O'Connor, an individual with 19 years experience in the uranium 
business and the former Director of Cameco's Corporate Development Group who 
was responsible for overseeing Cameco's significant investment in Minergia. 
Ted and his management are very well regarded in the uranium industry and they 
have built a significant portfolio of exciting uranium assets in anticipation 
of a turnaround in the uranium market. Vena believes that its stake in 
Azincourt will result in significant upside to Vena shareholders in the coming 
Azincourt is a uranium exploration company that has been focused on 
exploration of the Patterson Lake (PLN) property, located in Canada'sAthabasca 
Basin, in partnership with Fission Uranium Corp (TSXV: FCU). Azincourt's 
management and board have a strong track record of success. In addition to Ted 
O'Connor, the board of directors also includes Ian Stalker, former CEO of 
UraMin, a company that was acquired by the Areva Group for US$2.5 billion in 
2007 and Dev Randhawa, founder of Strathmore Minerals Corp., a company that 
spun out its Canadian uranium assets to form Fission Energy Corp., and which 
was recently acquired by Energy Fuels. 
In other news, the Company would also like to extend its gratitude for the 
significant contribution made to Vena over the last several years by David 
Bent who recently resigned. Silvia Dedios has assumed the responsibilities 
of General Manager, Peru operations and Walter Cuba, a geologist with nine 
years of experience focused on the Company's day to day uranium exploration 
activities will assume the responsibilities of uranium project manager and 
will work closely with Ted O'Connor, CEO and President of Azincourt, to 
continue the development of Minergia's uranium assets. 
Forward-Looking Statements:
This press release contains forward-looking statements. More particularly, 
this press release contains statements that include, but are not limited to, 
the sale of the Vena's 50% interest in Minergia S.A.C. Forward-looking 
statements are frequently characterized by words such as "plan", "expect", 
"project", "intend", "believe", anticipate", "estimate", "may", "will", 
"would", "potential", "proposed" and other similar words, or statements that 
certain events or conditions "may" or "will" occur. The forward-looking 
statements are based on certain key expectations and assumptions made by 
Vena. AlthoughVena believes that the expectations and assumptions on which 
the forward-looking statements are based are reasonable, undue reliance should 
not be placed on the forward-looking statements because Vena can give no 
assurance that they will prove to be correct. Since forward-looking statements 
address future events and conditions, by their very nature they involve 
inherent risks and uncertainties. Actual results could differ materially from 
thosecurrently anticipated due to a number of factors and risks. In addition 
to other risks that may affect the forward-looking statements in this press 
release are those set out in Vena's management discussion and analysis of the 
financial condition and results of operations for the three and nine month 
periods ended September 30, 2013 and its annual information form for the year 
ended December 31, 2012, which are available at The 
forward-looking statements contained in this press release are made as ofthe 
date hereof and Vena undertakes no obligation to update publicly or revise any 
forward-looking statements or information, whether as a result of new 
information, future events or otherwise, unless so required by applicable 
securities laws.

SOURCE  Vena Resources Inc. 
For further information on Vena Resources, please visit the Company  website, its Facebook page or contact: Juan Vegarra - 
Chairman & CEO - (416)  364-7739, ext. 120 
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CO: Vena Resources Inc.
ST: Ontario
-0- Nov/22/2013 07:00 GMT
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