VANCOUVER, Nov. 17 /CNW/ - Ventana Gold Corp. (TSX: VEN) ("Ventana" or the "Company") acknowledges the announcement today by EBX
of its intention to proceed with an unsolicited bid for all of the
issued and outstanding shares of Ventana at a price of $12.63 per
share.

The Board of Ventana has commenced the process of engaging advisors to
assist it in responding to this bid. The Board will make every effort
to maximize value for the benefit of Ventana's shareholders and will
update its shareholders from time to time as this development
progresses. Shareholders do not need to take any action in response to
this bid 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's flagship La Bodega project in
Columbia contains multiple high-grade zones of gold, silver and copper
mineralization occurring in north-northwest dipping parallel-sheeted
vein zones, breccias and mineralized faults within a broad, northeast
trending regional fault zone. The La Bodega project has excellent road
access and is close to existing infrastructure including power and
water. The Company is conducting an aggressive exploration program and
is advancing engineering studies to develop the deposit.

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.