Valencia Ventures Inc.
TSX VENTURE : VVI

Valencia Ventures Inc.

October 25, 2010 07:00 ET

Valencia Appoints New Corporate Secretary and Provides Update on Global Rare Earth Acquisitions

TORONTO, ONTARIO--(Marketwire - Oct. 25, 2010) - Valencia Ventures Inc. (TSX VENTURE:VVI) ("Valencia" or the "Company") is pleased to announce the appointment of Christine Gallo as Corporate Secretary of the Company. Ms. Gallo is a corporate securities lawyer who works as a legal consultant to several publicly traded companies in the mining industry. Ms. Gallo received a Bachelor of Laws from Osgoode Hall Law School in 2006. Prior to joining Valencia, Ms. Gallo practiced law at Cassels, Brock & Blackwell LLP.

The Company also announces that it has granted a total of 2,075,000 stock options to various directors, officers and a consultant of the Company. The options have an exercise price of $0.10 and shall expire five years from the date of grant. The options shall vest immediately, subject to the four month regulatory hold period. The grant of options is subject to regulatory approval.

Ms. Gallo's appointment follows the resignation of Mr. Patrick Gleeson, who will continue as a consultant to the Company. The Company would like to thank Mr. Gleeson for his ongoing contributions.

In addition, the Company would also like to announce that further to its news release dated May 25, 2010, it has decided to terminate the assumption agreement it had previously entered into with a private Ontario company ("OntarioCo") to acquire the Sao Gotardo project in Brazil. The Company intends to continue with the assumption of OntarioCo's interests in the Diana Project in Quebec and the Carb Lake, Schryburt Lake and Lawashi River Properties in Ontario, respectively; however, the Company intends to renegotiate the consideration that is payable to OntarioCo pursuant to these assumption agreements. The assumption by the Company of OntarioCo's interests in each of the Diana Project and the Carb Lake, Schryburt Lake and Lawashi River Properties remains subject to regulatory approval.

About Valencia Ventures

Valencia is a Canadian resource company traded under the symbol VVI on the TSX Venture Exchange.

For additional information on this press release or Valencia's projects, please visit www.valenciaventures.com.

Forward Looking Statements

This press release contains "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information includes, but is not limited to, statements regarding the impact of the appointment and potential assumptions and acquisitions on the Company, the potential mineralization and the receipt of regulatory approvals. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters, future prices of mineral prices; and risks of the mining industry. 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.

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