VML Viscount Mining Corp

Verena Minerals Corporation ("Verena" or the "Company") (TSX VENTURE: VML) is pleased to announce that it has closed the previously announced private placement offering (the "Offering") for aggregate gross proceeds of $6,000,000, including the full $1,000,000 over-allotment option. D & D Securities Company, acted as the agent (the "Agent") in respect of the Offering, in which the Company issued 24,000,000 units ("Unit"), at a price of $0.25 per Unit. Each Unit consists of one common share of the Company ("Common Share") plus one common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share of the Company at a price of $0.50 until March 3, 2012.

Proceeds of the private placement will be used to fund ongoing exploration and development programs at Verena's projects in Brazil and for general corporate purposes.

The Corporation issued to the Agent and the registered sub-agents an aggregate of 1,200,000 common shares in the capital of the Corporation and issued 1,200,000 compensation options, exercisable until March 3, 2012 to acquire up to 1,200,000 Units of the Corporation on the same terms as the Units sold under the Offering.

All securities issued pursuant to the Offering, including the Common Shares and Warrants underlying the Units, and the common shares and compensation options issued to the Agent and sub-agents are subject to a four (4) month statutory hold commencing from closing.

Further to the Company's news release issued on February 19, 2010, effective today, Mr. Stan Bharti will be appointed Chairman of the Board replacing Mr. Stephen Roman, Mark Eaton will become President and CEO replacing Mr. Roman, and Mr. Helio Diniz based in Belo Horizonte, Brazil will become VP, Exploration, replacing Mr. George Flach. Mr. Jeff Dawley has also agreed to step down as Verena's CFO, to be replaced by a new CFO appointed by the new Board.

About Verena

Verena Minerals Corporation is a Canadian based mineral exploration company with portfolio of properties including gold and Alexandrite gemstones in Brazil. Verena's prime focus is on completing a feasibility study and expanding its 100% owned Volta Grande Project, located in Para State. Verena trades on the TSX Venture Exchange and has approximately 136 million common shares issued and outstanding.

Cautionary Statement on Forward Looking Information

This press release may include forward looking statements within the meaning of securities laws. Forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from what is currently expected. Accordingly, readers should not place undue reliance on forward looking statements. For a more detailed discussion of such risks and other factors, refer to Verena's filings with the Canadian securities regulators available on www.sedar.com or the Company's website at www.verena.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Verena Minerals Corporation Stephen G. Roman President and CEO (416) 368-2998 www.verena.com