VENTANA ENGAGES ADVISORS TO ASSIST IN RESPONDING TO UNSOLICITED EBX OFFER

VANCOUVER, Nov. 29 /CNW/ - Ventana Gold Corp. (TSX: VEN) ("Ventana" or the "Company") announced that its Board of Directors has engaged Goldman, Sachs & Co. and TD Securities Inc., as financial advisors, and Davies Ward Phillips & Vineberg LLP, as legal advisor, to assist in responding to the unsolicited offer announced by EBX, to acquire all of the issued and outstanding shares of Ventana at a price of $12.63 per share.

The Board will make every effort to maximize value for the benefit of Ventana's shareholders and will update shareholders from time to time as this development progresses. Shareholders do not need to take any action in response to EBX's proposed offer at this time.

About Ventana

Ventana is a Vancouver-based mineral exploration and development company with mineral rights to 4,590 hectares of exploration property in northeastern Colombia. The Company has two project areas, La Bodega and Cal-Vetas, of which the flagship La Bodega project contains multiple high-grade zones of gold, silver and copper mineralization. Ventana has announced the results to the project's scoping study and completed its first inferred mineral resource which includes 27 million tonnes grading 3.9 grams per tonne gold, 21.5 grams per tonne silver, and 0.14% copper for a total of 3.5 million ounces of gold, 19.2 million ounces of silver and 84.9 mllion pounds of copper. There is significant potential to expand the resource and the Company intends to continue aggressive exploration at the project both from surface and underground.

Ventana's shares trade on the Toronto Stock Exchange under the symbol VEN.

Cautionary Statement Regarding Forward-looking Information

Certain of the statements made and information contained in this press release may constitute forward-looking information within the meaning of applicable securities legislation. All information and statements which are not historical fact constitute forward-looking information and, in many cases, can be identified by words such as "may", "will", "expect", "plan", "anticipate", "believe", "estimate", "potential", or other similar terminology. The forward-looking information contained in this press release is based on the reasonable expectations and beliefs of management as at the date of this press release and involves numerous assumptions, known and unknown risks and uncertainties, both general and specific to Ventana and the industry in which the Company operates. Such assumptions, risks and uncertainties include, but are not limited to future prices of gold, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated as well as those factors disclosed in Ventana's documents filed from time to time with the securities regulators in the provinces of British Columbia, Alberta and Ontario. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of the Company, or industry results, may vary materially from those described in this press release. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as otherwise required by law, Ventana does not intend to and assumes no obligation to update or revise forward-looking information, whether as a result of new information, plans, events or otherwise.

For further information:

Please visit www.ventanagold.com or contact:

Letitia Cornacchia, VP Investor Relations

tel [phone]

email [email protected]