Mr. Dennis Gibson reports

VENA PROVIDES UPDATE WITH REGARDS TO THE ARBITRATION CONCERNING THE AZULCOCHA WEST PROJECT AND ENFORCEMENT OF ARBITRAL AWARD IN ONTARIO

Vena Resources Inc. has provided an update with regard to the application of Empresa Minera Los Quenuales SA (LQ), a Peruvian subsidiary of Glencore PLC, for an order recognizing an arbitral award rendered on May 14, 2014, in Peru against the company and enforcing the arbitral award in Ontario against the company.

As previously reported, the arbitral award held that the company breached an option agreement with LQ concerning a contract dispute relating to the Azulcocha West polymetallic project, and the company and its subsidiaries were ordered to pay LQ approximately $2.3-million (U.S.). The company commenced an annulment application in the Peruvian courts seeking to set aside the arbitral award, and it is anticipated that a decision will be delivered later this year. In December, 2014, LQ applied to enforce the arbitral award against Vena in Ontario.

By way of update, the company would like to report that Justice Hood of the Ontario Superior Court of Justice has adjourned (postponed) the enforcement application, pending the outcome of the Vena application to set aside the arbitral award. As a condition of the adjournment, the company has to pay $250,000 as security for the arbitral award to LQ's lawyers, to be held in a special trust account pending the outcome of the enforcement application by LQ. The security is required to be paid by Aug. 7, 2015. If the award is not enforced in Ontario, the security, with interest, will be repaid to Vena. If the award is enforced in Ontario, the security, with interest, will be released to LQ. The company does not have sufficient funds at this time to pay the security, and it is working on possible solutions.