Valley High Ventures Ltd.

Valley High Ventures Ltd.

February 28, 2011 10:30 ET

Valley High Ventures Sets Date for Meeting to Consider Levon Offer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2011) - Valley High Ventures Ltd. ("Valley High", or the "Company") (TSX VENTURE:VHV) is pleased to announce that on February 18, 2011 it obtained an interim order of the Supreme Court of British Columbia authorizing, among other things, the holding of an annual and special meeting of holders of its common shares and options on March 22, 2011 in Vancouver, British Columbia. Meeting materials have been mailed to Valley High's shareholders of record as at February 16, 2011. Notice of the meeting and record dates have been filed with the appropriate regulatory authorities and are available on SEDAR at

As previously announced on January 17, 2011, Valley High and Levon Resources Ltd. ("Levon") have entered into a definitive arrangement agreement under which Levon will acquire 100% of the outstanding common shares of Valley High by way of a plan of arrangement ("Arrangement"). Under the Arrangement, Valley High shareholders will receive 1.0 share of Levon and 0.125 of a share in a new exploration company, Bearing Resources Ltd. ("Bearing"), for each Valley High share. At the meeting, shareholders will be asked to consider and, if thought fit, approve the Arrangement.

Bearing is currently a wholly-owned subsidiary of Valley High. Upon completion of the Arrangement, Bearing expects that it will be a reporting issuer in British Columbia and Alberta. Bearing will hold Valley High's exploration properties in British Columbia and the Yukon and approximately Cdn$1.8 million in cash. An application will be made for listing of the Bearing shares on the TSX-V. Any listing will be subject to meeting TSX-V original listing requirements and there is no assurance such a listing will be obtained.

For additional information with respect to voting shares at the meeting please contact the Company's proxy solicitation agent, Laurel Hill Advisory Group, by email at or by telephone at 1-877-304-0211 (toll free within Canada or the U.S.) or 416-304-0211 (for collect calls outside Canada and the U.S.).

About Levon

Levon is a junior gold and precious metals exploration company exploring the Cordero silver, gold, zinc and lead project (51% interest) near Hidalgo Del Parral, Chihuahua, Mexico. Upon completion of the Arrangement Levon will own a 100% interest in the Cordero Project. Levon also holds the Norma Sass and Ruf claims located near the Pipeline gold deposit, which is being mined and explored by Barrick Gold Corporation in the heart of the Cortez Gold Trend in Lander County, Nevada, USA. In addition, Levon holds key land positions at Congress, BRX, and Wayside in the productive Bralorne Gold camp of British Columbia, Canada.

About Valley High Ventures

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. Upon completion of the Arrangement Levon will own a 100% interest in the Cordero Project.

About Bearing Resources

Bearing will be a Canadian based precious and base metal exploration company with projects located in British Columbia and Yukon. The Mount Polley and October Dome projects are 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, Bearing will have an option to acquire a 100% interest in the Flume gold property which is located within the newly recognized White Gold District. Ryan Gold Corp. has been granted a right to earn up to 75% interest in VHV's interest in the Flume property. In addition, Bearing will hold additional Yukon exploration properties located near Golden Predator's Clear Creek gold project and Northern Tiger's 3Ace gold project.


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 metals, estimated future production, estimated costs of future production, and 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 metals, 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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