VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 05/14/12 — Venerable Ventures Ltd. (TSX VENTURE: VLV) („Venerable“ or the „Company“) is pleased to announce today that, further to its press release of May 2, 2012, it has received approval from the TSX Venture Exchange (the „TSX-V“) to amend the expiry date of 420,000 warrants issued pursuant to the private placement that closed on May 19, 2011 from May 19, 2012 to November 19, 2012, and the 4,259,572 warrants issued pursuant to the private placement that closed on July 11, 2011 from July 12, 2012 to January 12, 2013. All other terms of the warrants, including the exercise prices, remain unchanged.
Also in furtherance to its press release of May 2, 2012, the Company announces that SJ Geophysics Ltd. of Delta, British Columbia, who has been contracted to perform the 75km 3D IP survey, was mobilized to site on May 6, 2012. The anticipated time to complete the survey is 6 weeks, after which time the data will be modeled and targets will be outlined for approximately 2,000 metres of Phase 1 drill testing. The Company is fully financed to conduct the IP survey and the Phase 1 drill testing.
About the Company:
Venerable is a Canadian natural resource company engaged in the acquisition, exploration and development of mineral properties, with its primary focuses on the Trout Property. Venerable holds an option to acquire a 100% interest in and to the Trout Property. The Trout Property is 65km southwest of Vanderhoof, BC on the Nechako Plateau and covers an area of 7179 Hectares. The Trout Property is approximately 40km NNE of NewGold-sBlackwater Project.
ON BEHALF OF THE BOARD OF DIRECTORS OF VENERABLE VENTURES LTD.
Ryan Sharp, President and CEO
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: Venerable Ventures Ltd. Ryan Sharp President and CEO (604) 647-0146
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