Valencia Announces Management Changes

TORONTO, ONTARIO--(Marketwired - May 5, 2016) - Valencia Ventures Inc. (NEX:VVI.H) ("Valencia" or the "Company") is pleased to welcome Damian Lopez as its President and Chief Executive Officer and a member of the Company's Board of Directors. Mr. Lopez is a corporate and securities lawyer who has provided business and legal consulting to various public and private companies in the resource-based sectors. Mr. Lopez holds a Bachelor of Commerce from the University of Toronto and a Juris Doctor from Osgoode Hall. Mr. Lopez's experience will greatly assist the Company as it continues to evaluate business opportunities to reactivate its business for future growth.

The appointment of Mr. Lopez follows the resignation of Mr. Fred Leigh as President, Chief Executive Officer and a director of the Company to pursue other endeavours. The Company's Board of Directors expresses its gratitude to Mr. Leigh for his efforts as President, Chief Executive Officer and a director and wishes him future success.

About Valencia Ventures Inc.

Valencia is a Canadian resource company with common shares that trade on the NEX Board of the TSX Venture Exchange under the symbol VVI.

Forward Looking Information - Cautionary Statement

This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes without limitation, statements regarding the impact of the appointment and resignation of officers and directors of the Company and the Company's ability to identify business opportunities and reactivate its business. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the public disclosure documents of the Company.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.