Vencan Plans Early Spring Geophysical Program Over Multiple, Previously Identified VMS Targets - 2000 Metre Drill Program to Follow

TORONTO, March 6 /CNW/ -

Spring 2006 Exploration Program
-------------------------------

Vencan Gold is pleased to announce that it has targeted the recently
optioned Falconbridge Limited's Genoa Property which includes the Jefferson
VMS Deposit for an early spring exploration program. After careful review of
Falconbridge Limited's historical exploration work including drill logs, core
samples and reports, Vencan's Consulting Geologists, GeoVector Management in
conjunction with their assessment of local geology and assay results of grab
samples have outlined a Geco Type VMS Deposit.
GeoVector believes there is significant potential for VMS Cu-Zn-Pb
deposits on the Cayenne East portion of the property, which could be analogous
to the Geco Cu-Zn VMS deposit in Manitouwadge (60 Mt (at) 1.9% Cu and
3.8% Zn).

The Jefferson Deposit
---------------------

The Jefferson Deposit environment is interpreted to be 7 kilometres in
strike length but has only seen intermittent drilling along its length with
some areas being untested by drilling. The Jefferson Zn-Pb VMS Deposit occurs
within a strongly sulphidized iron formation of the Woman River Iron Formation
and strong sericite altered felsic fragmental rocks of the Strata Lake
Formation. This deposit featured historical assay values of up to 7.05% Zn and
4.58% Pb. The historical resource estimate is not NI 43-101 compliant and
therefore has not been included in this release.
In addition, an historic drill hole (1958) intersected 11.98% Zn over
3.2 metres in strongly sulphidized iron formation of the Woman River Iron
Formation twp (2) kilometres west of the Jefferson Deposit.

Spring 2006 Geophysics Survey
-----------------------------

Kirk McKinnon, President & CEO reports that Vencan's exploration Manager
Alan Sexton P. Geo has arranged for the geophysical surveys to commence
following completion of the current logging activity on Vencan's Jefferson
target area. This logging activity as previously outlined in our Press
Releases has brought much needed road infrastructure to the area, which had
presented a significant barrier and cost to past exploration efforts.
The current logging activity over the targeted drill sites will
facilitate access and exploration work such as required line grids, ground
geophysics and geological surveys resulting in more cost effective
exploration.
The Fall 2005 work programs produced grab samples from the Jefferson
trench with significant Cu-Zn-Pb values (see table below).

<<

Jefferson Trench Grab Samples
-----------------------------

-------------------------------------------------------------------------
  Sample ID          Cu (%)         Pb (%)         Zn (%)       Ag (g/t)
-------------------------------------------------------------------------
     4972             0.41           2.55           5.05           15.1
-------------------------------------------------------------------------
     4974             0.09          26.05          19.77           21.0
                                    -----          -----
-------------------------------------------------------------------------
     4976             0.92          31.16          17.51           37.7
                      ----          -----          -----
-------------------------------------------------------------------------


2006 Spring Drill Program
-------------------------

The Company plans to conduct a 2000 metre drill program over the targeted
area following the completion of the geophysical work and its interpretation
by GeoVector.

SHEAR ZONE HOSTED LODE GOLD POTENTIAL
-------------------------------------

There is significant potential for shear zone hosted lode gold deposits
on the Gagne and Cayenne Central/Chili portions of the property, which would
be analogous to the gold deposit of the Timmins gold camp. In particular, the
mafic volcanic rocks of the Trailbreaker Group have been correlated with the
Tisdale Group rocks in the Timmins gold camp.

Gagne Target
------------

The Gagne target consists of a 400 metre by 500 metre gold bearing
feldspar porphyry intrusion that is hosted within the mafic volcanic rocks of
the Trailbreaker Group. The gold occurs in quartz veins and pyrite mineralized
portions of the feldspar porphyry intrusion along east-west and northwest-
southeast trending shear zones. The best assays to date are from historic
(2002) trenches and consist of 2.10 g/t Au over 6m and 4.99 g/t Au over 6m.
Based on re-interpretation of the regional aeromagnetic data and geological
mapping surveys several second and third order shear zones are interpreted
within the mafic volcanic rocks along the untested northern contact of this
intrusion. The Camflo deposit located in North-west Quebec is being used as an
analogous model.

Cayenne Central/Chili
---------------------

The Cayenne Central/Chili targets consist of shear zone hosted lode gold
in mafic volcanic rocks of the Trailbreaker Group and in the banded iron
formation of the Woman River Iron Formation. Vencan completed six (6) drill
holes during September, 2005 on several IP anomalies. These drill holes
encountered low level gold in extensive zones of sericite and carbonate
alteration with disseminated pyrite mineralization and quartz-carbonate
veining in mafic volcanics and quartz feldspar porphyry dykes within the
Trailbreaker Group. In addition, property scale mapping during 2005 defined an
east-west trending shear zone of quartz-ankerite-pyrite mineralization within
mafic volcanic rocks, which assayed up to 5.4 g/t Au in a grab sample. Based
on the 2005 work and a re-interpretation of the regional aeromagnetic data
several un-tested second and third order shear zones have been interpreted
within the mafic volcanic rocks on this area.

Banded Iron Formation Gold Targets
----------------------------------

An additional four (4) drill holes were completed within the banded iron
formation of the Woman River Iron Formation by Vencan during September, 2005.
This work occurred in areas of known gold mineralization intersected in
historic (1980-1983) trenches and drilling. The known gold mineralization
consisted of strongly brecciated chert-magnetite iron formation with 5-10%
pyrite and quartz veins. The gold bearing zones intersected in the historic
trenches (16.87 g/t Au over 2 metres) were also intersected by Vencan at
vertical depths of 25 metres (3.76 g/t Au over 0.68 metres) and 85 metres
(0.88 g/t Au over 0.60 metres).

Financing
---------

Richard Schler, Vice President & CFO stated that the company will raise
approximately $575,000, which will provide the necessary financing for this
drill program with some contingency to add extra holes. This exploration
program is scheduled to commence this Spring.
Alan Sexton, P. Geo is the qualified person responsible for the technical
information presented in this release.

WARNING: The Company relies upon litigation protection for "forward-
looking" statements.

>>