Valencia Ventures Inc.

Valencia Ventures Inc.

September 18, 2007 17:05 ET

Valencia Ventures Engages SRK Consulting to Prepare an Updated Resource Estimate and a Preliminary Assessment on the Cachinal Silver Project, Chile

TORONTO, ONTARIO--(Marketwire - Sept. 18, 2007) - Valencia Ventures Inc. ("Valencia") (TSX VENTURE:VVI) has engaged SRK Consulting (Canada) Inc. ("SRK") to prepare an updated mineral resource estimation and complete a scoping study and preliminary assessment of the economic potential of the mining project. The second phase of Valencia's 2007 drill program intersected additional high grade silver mineralization with the potential to add 1,200 meters of mineralization strike and significantly expand the current mineral resource (see press release dated September 11, 2007).

SRK is an independent, international consulting practice providing focused advice and solutions to clients, mainly from earth and water resource industries. For mining projects, SRK offers services from exploration through feasibility, mine planning, and production to mine closure. Formed in 1974, SRK now employs more than 700 professionals internationally in 31 permanent offices on 6 continents.

SRK will provide a team of leading mining professionals from both their offices in Toronto, Canada and Santiago, Chile to assist Valencia in completing the next phase of drilling to generate an updated resource estimate and to initiate mine design and engineering, metallurgical test work, process design, geotechnical, hydrological, environmental and other studies required to assist with preliminary economic assessment and subsequent feasibility analysis. It is anticipated that the updated resource estimate and preliminary assessment will be completed in the first quarter of 2008.

Doug Bache, Valencia's President & CEO, commented, "We are very excited and pleased to have been able to engage SRK and draw upon the firm's global leadership to assist us with our ongoing evaluation of Cachinal." He added, "The team will include professionals from SRK's Santiago office and will give us the benefit of using expertise in those areas where local knowledge and past experience is crucial to timely and effective completion of the evaluation."

The next phase of drilling, scheduled to commence next week, will consist of additional RC drill holes along the existing 50m spaced section lines and, where necessary, 25m infill drilling within the Cachinal resource area and the Northern Extension target to define potential resource areas in sufficient detail to enable a revised mineral resource estimation. The total program will comprise between approximately 7,000 and 9,000m resource definition drilling and approximately 1,500m to evaluate other regional targets. Additional 25m infill drilling will be completed as required under SRK's guidance.

Cachinal Silver Project

The Cachinal de la Sierra area is located within the Paleocene Gold Belt of northern Chile, which hosts several major gold and silver deposits including Meridian Gold's El Penon Silver-Gold Mine. The El Penon mine, 60km to the northeast, is a low sulphidation-style epithermal silver-gold deposit and one of the worlds lowest cost gold producers. The past-producing Guanaco Gold Mine, a high sulphidation-style epithermal deposit which was mined as a heap leach operation during the early 1990's, is 12km to the southwest."

Silver mining began at Cachinal in 1862 and, including production of approximately 170,000 tons @ 280g/t Ag, 0.58g/t Au reported for a three year period 1985-1987, historical production is estimated at approximately 32 million ounces of silver in historical geological reports in the library and files of Chilean Government agency SERNAGEOMIN. Extensive historic workings at Cachinal reportedly extend to a depth of 320m although most of the workings only went to a depth of 120-150m, generally within the oxidized zone. Historical grades apparently averaged 500-600g/t silver with an unknown quantity of trace gold, with some local values of up to 2500g/t silver and as much as 3g/t gold reported. The production figures (tonnage and grade) referred to above are historical in nature and have not been verified by the issuer's Qualified Person, and should not be relied upon.

Valencia is a Canadian resource company traded under the symbol VVI on the TSX Venture Exchange. Valencia's development strategy is focused on the exploration and development of silver and gold properties, including the Cachinal Silver-Gold Project in Chile and the Rancheria Silver Project in the Yukon Territory and British Columbia, Canada. With a focus on silver and gold exploration in the Americas, the Company also has a number of property acquisitions under consideration.

Regulatory Footnotes:

Mr. Douglas A. Currie, MAusIMM, Valencia's Executive Vice President-Exploration & Development, is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and is responsible for reviewing the technical disclosure in this press release. Field work in Chile has been performed under Mr Currie's supervision by SBX Consultores Ltda, Santiago, Chile.

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 exploration prospects, the identification of mineral resources, costs of and capital for exploration projects, exploration expenditures and timing of future exploration and the costs and timing of additional exploration activities on the property. 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.


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