Vena and Cameco join forces in Peru

29 January 2007

[Vena Resources, 26 January]Vena Resources Inc and Cameco Corp of Canada plan to establish ajointly-owned company to explore and develop Vena's uranium assets inPeru. Cameco has the option to invest C$10 million ($8.4 million) overthe next four years to obtain up to 50% of Minergia SAC, a Venasubsidiary that controls the uranium claims equivalent to 15,500 ha infour regions of southern Peru. Cameco can increase its stake inMinergia to 60% when a feasibility study is completed and to 70% whenmine development commences. Any future investment by Cameco and Vena inuranium assets in Peru will be done via Minergia SAC. Vena remains asthe operator in Peru.

Further information

Cameco Corp
Vena Resources

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