Valley High Ventures Ltd.

Valley High Ventures Ltd.

December 16, 2008 13:27 ET

Valley High Ventures Amends Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2008) - Valley High Ventures Ltd. ("Valley High") (TSX VENTURE:VHV), announces that it has modified the private placement previously announced in its news release of October 29, 2008 and subject to regulatory approval, intends to proceed with the amended non-brokered private placement financing. The private placement will now consist of gross proceeds of up to $300,000 which will be raised by the issuance of up to 3,000,000 units at a price of $0.10 each. Each unit is comprised of one common share and one transferable warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one common share (a "Warrant Share") for a period of two years from the closing of the private placement at a price of $0.25 per Warrant Share. Valley High will, subject to TSX Venture Exchange approval, pay a finders fee on a portion of the private placement.

All securities issued will be subject to a four-month hold period. The proceeds from the private placement will be used to fund exploration on the Cordero-Sanson property in Mexico and for general working capital.

Furthermore, regarding Valley High's proposal to issue shares for debt to Obelisk International Ltd., Valley High would like to announce that 2,333,333 shares at a deemed price of $0.30 per share representing $700,000 have been issued and the debt has been extinguished.


Robert Cameron, President and CEO

About Valley High Ventures Ltd.:

Valley High Ventures Ltd. is a Canadian based precious and base metal exploration company with several properties, totaling approximately 10,000 hectares, located in south-central British Columbia, within the Quesnel Trough and in close proximity to Imperial Metals Mt. Polley copper-gold mine. Valley High has confirmed copper-gold mineralization, through previous drilling, and plans further exploration and development of its mineral properties in the area. In addition Valley High has the Cordero-Sanson silver, zinc, lead, molybdenum property in central Mexico. Cordero encompasses a number of small historic high grade silver mines and is currently being evaluated by the Company for larger bulk mineable silver, zinc and lead potential.

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Valley High to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in documents filed from time to time with the securities regulators in the applicable Provinces of British Columbia and Alberta.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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