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Date Posted: 11:03:47 11/07/03 Fri
Author: siempre
Subject: Vergene

Vergene Capital Corp.
1414 - 181 University Avenue
Toronto ON Canada
M5H 3M7

October 6November 53, 2003 TSX Venture Exchange
For Immediate Release Symbol: YVN
Toronto, Ontario Issued and Outstanding: 23,684,005

Vergene Subsidiary Acquires Gold Assets, Announces New Advisory Board MemberVergene Announces Changes To The Board Of Directors And Appoints President

Vergene Capital Corp. (TSXV-“YVN”) is pleased to announces that, effective October 31, 2003, the Companay has made the following changes to the board of directors. These changes will more closely align Vergene’s board level competencies with the Companyie’s business objectives.

In addition to developing the Company’s shallow gas targets in Saskatchewan, management will be working to maximize value at the Company’s Coal Canyon and Kobeh gold properties. The properties are located in Nevada on the Battle Mountain - Eureka mineral trend of Carlin-type gold deposits. This highly productive regional trend hosts multi-million ounce gold deposits such as Placer’s Pipeline deposit and their recent nearby discovery at Cortez Hills.

Joining the Company’s board of directors will be Dr. James Pirie, Dr. Anthony Taylor and the Honorable Nick Taylor. Dr. Pirie will also be assuming the office of President. Anthony Roodenburg will remain Chairman and Chief Executive Officer.

Dr. Pirie’s career as an exploration geologist spans more than 30 years in Canada, the U.S., Europe, Latin America and Asia. Dr. Pirie has held a number of positions of increasing responsibility including: President, Gold Summit Mines Ltd., VP, Exploration: Breakwater Resources Ltd., VP, Exploration: Granduc Mining Corporation, Exploration Manager: Homestake Canada and Esso Minerals Canada.

, through 75% controlled subsidiary Greencastle Resources Ltd. (“Greencastle”), the Company has completed the acquisition of two gold exploration projects situated between Cortez Hills and Eureka, in the Cortez Hills area of Nevada.

The properties are located on the Battle Mountain - Eureka mineral trend of Carlin-type gold deposits in Nevada. This highly productive regional trend hosts multi-million ounce gold deposits such as Placer’s Pipeline deposit and its recent nearby discovery at Cortez Hills.

The Coal Canyon Property

Coal Canyon consists of 9 unpatented lode mining claims in Eureka County, at the north end of the Simpson Park Mountains. Greencastle has the option to maintain a lease on the Coal Canyon property by making annual cash payments and carrying out exploration work as well as the option to purchase the property for US$2 million. The claims cover a highly prospective portion of the Grouse Creek Fault where previous exploration has identified gold values associated with a sequence of Lower Paleozoic dolomite, limestone and quartzite intruded by highly altered feldspar porphyry dikes.

The Kobeh Property

Kobeh consists of 33 unpatented lode mining claims in Eureka County, in the northeast corner of Kobeh Valley along the southern edge of the Roberts Mountains. Greencastle has the option to maintain a lease on the Kobeh property by making annual cash payments and carrying out exploration work as well as the option to purchase the property for US$2 million. The property covers an area of shallow pediment overlying Mississippian Webb and Ordivician Vinini Formations. Some 1.5 km to the north along trend in similar rocks, gold mineralization outcrops in clay and silica matrix breccias in basal Webb Formation and associated with NNW and NE trending faults. On the Kobeh property, interpretation of airborne geophysical surveys has identified potential alteration and gold mineralization targets associated with similar fault sets and areas of low resistivity.

New Advisory Board Member

The Honourable Nick Taylor has agreed to join Vergene as an advisor to the Company. Mr. Taylor will advise the board and management in the development of the Company’s natural gas projects in Saskatchewan. Mr. Taylor has a great depth of experience in the exploration and development of oil and gas assets particularly in Western Canada.

The Honourable Nick Taylor retired from the Senate of Canada late in 2002 after serving a term of six years. For most of those years, Mr. Taylor acted as chairperson of the Senate's Energy and Environment Committee. Prior to joining the Senate, Mr. Taylor served fourteen years as leader of the Liberal Party in Alberta, ten of which were in the Alberta Legislature Opposition. While participating in public life, he built an independent oil company, Lochiel Exploration, that explored and/or produced in twenty countries.

Mr. Taylor is an Alberta graduate in geology and mining engineering, a Professional Geologist and operates a small family owned oil company active in Alberta. Dr. Anthony P. Taylor has 38 years of international minerals exploration experience. Dr. Taylor has a track record of hands-on experience and management in the discovery of nickel, platinum, copper-zinc and gold deposits in Australia, South Africa and the United States with Cominco, Selection Trust, BP Minerals, Kennecott and Gencor. As Exploration Manager for Selection Trust and BP Minerals in the United States, Dr. Taylor was responsible for exploration aspects of development at the Alligator Ridge Mine (Nevada), the Colosseum deposit (California) and the Ridgeway deposit (South Carolina). Dr. Taylor is also a Director of Hecla Mining Company (NYSE).

The Honorable Nick Taylor retired from the Senate of Canada late in 2002 after serving a term of six years. For most of those years, Mr. Taylor acted as chairperson of the Senate's Energy and Environment Committee. Prior to joining the Senate, Mr. Taylor served fourteen years as leader of the Liberal Party in Alberta, ten of which were in the Alberta Legislature Opposition. While participating in public life, he built an independent oil company that explored and/or produced in twenty countries. Mr. Taylor is an Alberta graduate in geology and mining engineering, a Professional Geologist and operates a family owned oil company active in Alberta.


Resigning from the Companay’s board of directors are: William Trafford, William Linton and Michael Hubbert.

The Company also announces that on November 5, 2003 a total of 400,000 options to purchase common shares of the Company were granted to directors and officers, at an exercise price of $0.25 per share, expiring on November 5, 2008. The grant of options is subject to regulatory approval.

Update Gas Projects

The Company continues to move toward drilling three gas wells by calendar year end. Three sites have been surveyed and
site preparation is expected to begin next week. (Nick: What else can we put in here? Which three wells are we doing? Etc…)

Vergene is well funded with cash and liquid assets in excess of $2 million and no liabilities.

For more information contact: Anthony Roodenburg, President, phone:
(416) 485 13277 www.vergenecapital.com


info@vergenecapital.com

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