Venerable Ventures Ltd. Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2011) - Venerable Ventures Ltd. (TSX VENTURE:VLV - News; "Venerable" or the "Company") today announces a non-brokered private placement (the "Offering"), which will provide the Company with working capital to use for its Trout Property located in the area of the Nechako Plateau. The Company intends to issue up to 4,000,000 units (each, a "Unit") at a price of $0.25 per Unit for gross proceeds of $1,000,000. Each Unit will consist of one common share of Venerable and one common share purchase warrant. Each warrant will entitle the holder to purchase an additional common share of Venerable at a purchase price of $0.60 per share for 12 months from the date of closing of the Offering, subject to a right of call by the Company under certain conditions.In addition, the Company also announces a non-brokered flow-through private placement (the "FT Offering"), which will also provide the Company with working capital to use for its Trout Property. The Company has agreed to issue 1,142,858 flow-through units (each, a "FT Unit") at a price of $0.35 per FT Unit for gross proceeds of $400,000. Each FT Unit will consist of one common share of Venerable issued on a flow-through basis and one common share purchase warrant. Each warrant will entitle the holder to purchase an additional common share of Venerable on a non-flow through basis, at a purchase price of $0.60 per share for 12 months from the date of closing of the FT Offering, subject to a right of call by the Company under certain conditions. Each flow-through share will entitle the investor to the tax benefits of the qualifying Canadian exploration expenses incurred by the Company, which will be "flowed through" to the investor.The Offering and FT Offering are subject to the approval of the TSX Venture Exchange and applicable securities laws.About the CompanyVenerable is a Canadian natural resource company engaged in the acquisition, exploration and development of mineral properties, with its primary focus on the Trout Property.ON BEHALF OF THE BOARDVENERABLE VENTURES LTD.Ryan Sharp, President, Chief Executive Officer and DirectorStatements in this press release regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations and includes the statements with respect to the proposed Offering and FT Offering and the Company's intentions with respect to the use of proceeds from the Offering and FT Offering. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that the closing of either the Offering or the FT Offering may not occur for any reason. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) the inability of the parties to consummate the Offering or FT Offering; (ii) fluctuation of mineral prices; (iii) a change in market conditions; and (iv) the refusal of the TSX Venture Exchange to accept the proposed Offering or FT Offering for any reason whatsoever. Except as required by law, the Company does not intend to update any changes to such statements.