Valley High Ventures Ltd.
TSX VENTURE : VHV

Valley High Ventures Ltd.

December 16, 2010 09:32 ET

Valley High Ventures-Cordero Project Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2010) - Valley High Ventures Ltd. ("Valley High", or the "Company") (TSX VENTURE:VHV) is pleased to provide an update on the phase three exploration program currently underway at the Company's Cordero silver, gold, zinc and lead project located 35 kilometres northeast of Hidalgo Del Parral, Chihuahua, Mexico. The phase three program is budgeted at $14,000,000 and will include approximately 59,000 metres of core drilling, initial metallurgical / engineering studies and continued surface exploration. The property comprises wholly-owned claims and consolidated land agreements that total approximately 20,000 hectares and is being explored in a Joint Venture with Levon Resources Ltd. (Levon) (51% and operator). Valley High is a 49% contributing partner to the project.

Phase Three Interim Highlights (summarized from Levon news release dated December 15, 2010)

  • Four core rigs are currently on site and a fifth core rig will be added in January, 2011. Drilling is being conducted 24 hours per day, 7 days a week.
  • Since October 1, 2010, 37 drill holes have been completed for a total of 13,071 metres. The primary focus of drilling thus far includes;

 - Grid and step out drilling at the Pozo de Plata zone including the Josefina Mine zone.

 - Step out drilling from discovery holes at the Porphyry zone, 1.3 kilometres to the northeast of Pozo de Plata.

 - Testing new induced polarization (IP) conductivity anomalies at the Molina de Viento Caldera diatreme target, 7 kilometres to the southwest of Pozo de Plata.

  • New drill targets have been identified at the southern extension of the Porphyry zone and the Pastura Sur target which is located to the south of Pozo de Plata.
  • 3D IP surveys are being carried out over the Poza de Plata, Dos Mil Diez and Molina de Viento diatreme complexes as well as the La Ceniza stock, Codero Porphyry and Pastura Sur targets. IP results will be integrated with gravity, magnetic, radiometric, geology and surface sample results to target drilling.
  • A ground orientation survey utilizing high resolution magnetotelluric extremely low frequency (ELF) has been contracted to determine its effectiveness for profiling porphry style alteration and mineralization at depth.
  • Independent Mining Consultants, Tucson Arizona have been retained to prepare an initial "assay block model" of the Poza de Plata diatreme and the Josefina mine target.
  • M3 Engineering and Technology, Tucson Arizona has been retained to initiate metallurgical test work on Pozo de Plata and Cordero Porphyry Zone mineralization. In addition, M3 will begin infrastructure studies for potential mine planning.

Publication of phase three drill results is expected to begin early in the New Year.

The Codero project is under the direct supervision of Vic Chevillon, MA, CPG, Vice-President of Exploration for Levon who is a qualified person within the context of National Instrument 43-101. Robert Cameron, PGeo, who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.

The Company also wishes to announce that it has provided 30 days notice to Renmark Financial Communications ("Renmark") to terminate its investors relations activities on behalf of the Company. (Refer to News Release dated April 15, 2010). The Company wishes to thank Renmark for its contributions over the last eight months but now believes it has sufficient in-house investor relations resources.

About Valley High Ventures Ltd.:

Valley High is a Canadian based precious and base metal exploration company with projects located in Mexico, British Columbia and Yukon. The Cordero project in Mexico (49% interest) is being evaluated for large bulk mineable silver, gold, zinc and lead deposits. The Mount Polley project is located in British Columbia adjacent to Imperial Metals Corporation's ("Imperial") Mt. Polley copper-gold mine and includes a production royalty on the Boundary Property, with Imperial. In the Yukon, Valley High has an option to acquire a 100% interest in the Flume gold property which is located within the newly recognized White Gold District. Valdez Gold Inc. has been granted a right to earn up to 75% interest in Valley High's interest in the Flume property.

VALLEY HIGH VENTURES LTD.

Geoff Chater, President

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.

"Neither 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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