Valencia Ventures Inc.

Valencia Ventures Inc.

March 27, 2006 16:05 ET

Valencia Appoints Doug Bache as President and Chief Executive Officer

TORONTO, ONTARIO--(CCNMatthews - March 27, 2006) - Valencia Ventures Inc. (TSX VENTURE:VVI) is pleased to announce Mr. Douglas H. Bache was appointed President and Chief Executive Officer of the company and will assume his duties immediately. Mr. Bache replaces Doug Currie who had been in the role since 2004. Mr. Currie will actively remain with the company as a Director and Executive Vice President, Exploration and Development. Doug Currie will be responsible for the company's global exploration and project development programs. The Board made this executive change to facilitate the company's next stage of development as a global precious metals exploration company with particular focus on silver exploration in the Americas.

Mr. Bache is well qualified to assume his new responsibilities and brings a wealth of experience to the role. He is President of DHBache & Company Inc., a corporate development and strategy consulting firm serving the mining industry. Mr. Bache, through his company, provides corporate finance and strategic advice to a number of private and publicly traded companies. Over the past six years, Mr. Bache held various senior management positions in corporate development and finance with Inco Limited and North American Palladium Ltd. Prior to that, he spent 10 years in corporate finance with CIBC World Markets and SG Canada providing financing and M&A advisory services to global mining companies.

Mr. Bache holds a BMath/Business degree from University of Waterloo, Waterloo, Ontario. He is also a business development and strategic advisor to the Faculty of Mathematics, University of Waterloo.

"The Board takes great pleasure in Doug's appointment and we look forward to his valuable contribution," said Stan Bharti, Chairman. "He will bring a strong capability to the management team and we have great confidence in his ability to lead the company at what is a very exciting time for gold and silver companies." The Board expresses its gratitude to Doug Currie for his contribution and dedication to the company over the past three years and wish him continued success in his new capacity.

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Valencia is a Canadian resource company traded under the symbol VVI on the TSX Venture Exchange. Valencia is focused on the exploration and development of precious metal properties and the company is currently reviewing the feasibility of the Mt. Bundy gold project in the Northern Territory, Australia. Valencia's development strategy has been refocused on its silver exploration properties and the company has a number of potential acquisitions under consideration.

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