Valencia Ventures Inc.
TSX VENTURE : VVI

Valencia Ventures Inc.

March 04, 2011 09:42 ET

Valencia Terminates Option to Acquire Rare Earth Properties

TORONTO, ONTARIO--(Marketwire - March 4, 2011) - Valencia Ventures Inc. (TSX VENTURE:VVI) ("Valencia" or the "Company") announces that further its news releases dated May 25, 2010 and October 25, 2010, it has decided to terminate the assumption agreements it had previously entered into with a private Ontario company ("OntarioCo") to acquire OntarioCo's interests in the Diana Project in Quebec and the Carb Lake, Schryburt Lake and Lawashi River Properties in Ontario, respectively. Upon completion of due diligence, the Company decided not to proceed with the acquisitions. 

In connection with the Diana Project acquisition, the Company loaned OntarioCo $700,000 to carry out a comprehensive exploration program on the Diana Property to satisfy the 2010 work commitments in respect of the property.

The Company continues to explore opportunities to acquire properties which will increase shareholder value.

About Valencia

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 Information

Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to expectations regarding the repayment of the loan. 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 statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is based on the opinions and estimates of management as of the date such statements are made. Estimates regarding the mineral resources are based on the assumptions and parameters set out above and on advice from independent, qualified consultants. 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 risks described in the public record of the Company posted under the profile of the Company on SEDAR at www.sedar.com. Although management of 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 statements 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.

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