NEWS RELEASE

VENTANA ACKNOWLEDGES UNSOLICITED BID

Vancouver, B.C., November 17, 2010 – 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.

For additional information please visit www.ventanagold.com or contact:

Letitia Cornacchia, VP Investor Relations

tel +1 (416) 644-5084

email lcornacchia@ventanagold.com