VNTN Venturenet Capital Group Inc (CE)

VentureNet Capital Group, Inc. (Pink Sheets:VNTN) announced today it has entered into a joint venture with West Desert Gold Mines, Inc. and Universal Mud to explore and mine three gold mine properties. Pioche Hero claim is an ore body in Lincoln County, Nevada on a 320 acre BLM claim with present proven and estimated reserves of 200,000 tons estimated by Bill Fuller, P.E. to contain over 3 ounces of gold and gold equivalent per ton. This reserve estimate was arrived at by twenty-one 10 ft. dig hole tests 1 and 1/2 miles across the length of the claim. Additional exploration, drilling, trenching, and assaying on geologically determined 100 foot centers will be conducted to further determine if this is a bankable commercial ore body reserve. Universal Mud will earn 40 percent of the net metal for mining and concentrating the ore in place and hauling the concentrates to the Dalton Mill for metal recovery. Twenty percent of the gross metals will be set aside to cover this cost and any savings will be divided equally between West Desert Gold Mines, Universal Mud and VentureNet Capital Group, Inc. Universal Mud will finance the metal recovery at the Skull Valley Mill in Prescott, Arizona, now leased to West Desert Gold Mines, Inc., until the Dalton Plant in Pioche is fully permitted and equipped to process the metals. West Desert Gold Mines, Inc. will supervise the permitting, mining, drilling and exploration and receive expenses for management and 20 percent of the net metals recovered. VentureNet Capital Group, Inc. will receive 20 percent of the net metals for consulting, advising and assisting in arranging additional financing. West Desert Gold Mines, Inc. has the Willow Creek Placer Mine, and the Dale Mine at Imly under option. The Willow Creek operation consists of 400 acres of patented land with 400,000 estimated tons of tails in ponds with an average assay of 5 ounces per ton. The Dale Mine is 300 acres with 300,000 tons estimated and geologically tested and assayed ore in place with an average grade over 2 ounces per ton. The success of these mining ventures will depend on arranging financing, payment of option money and working capital. Production should begin within 90-120 days after all financing has been acquired. About VentureNet Capital Group VentureNet Capital Group is a business consulting and management company that provides capital information, media services, advertising and marketing as well as funding to public and private companies. The company specializes in helping with funding public businesses that represent emerging growth opportunities as well as established companies that demonstrate potential for long-term capital growth. VentureNet produces a radio talk show called wallstreetnewshour.com, and co-produces a national television show filmed on the floor of the American Stock Exchange called Let's Talk Stock, to help profile public companies to the capital markets. VentureNet also markets JIAN business software at www.jian.com/a/mkb123. Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the securities Act of 1933, and are subject to Rule 3B-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, further events or otherwise.