May 31, 2010. Valley High Ventures Ltd. (?Valley High?) (TSXV Symbol VHV.V) is pleased to report that Valdez Gold Inc. (?Valdez?) has commenced its summer exploration program on the Flume Property, Yukon Territory, Canada by flying a detailed helicopter-borne magnetic gradiometer and VLF-EM survey.
The detailed helicopter-borne magnetic gradiometer and VLF-EM survey was flown at a 50 m line spacing for a total of 1,358 line kilometres. The data is currently being processed. Geophysical targets arising from this survey and especially those co-incident with the previously defined, wide spaced, soil geochemical targets will be followed up with a detailed soil geochemical sampling and mapping programme. Field crews are to be mobilized in the first week of June, 2010.
The Flume property lies approximately 60 km south west of Dawson City and is located at the headwaters of Ten Mile Creek, a well known placer mining location as well as the headwater of Sestak Creek. Phelps Dodge Corporation of Canada (?PDC?) completed property wide, wide spaced soil sampling, geological mapping, prospecting and limited trenching that defined two main targets, Sestak Creek and Flume Creek, primarily characterized by elevated gold and arsenic soil anomalies with minor anomalous antimony and molybdenum.
Valdez has been granted the right to earn a potential 75% interest in Valley High?s Flume property located in the White Gold District of Yukon Territory, Canada. (See news release dated January 23, 2010). On June 24, 2009, Valley High entered into an option agreement with PDC to acquire a 100% interest in the Flume Property. PDC retains a 2% net smelter return royalty of which one half can be repurchased by Valley High for $1 million. PDC also retains the right to share in the proceeds derived from the sale or option of the property to a third party in the amount of 50% of proceeds received during the first year and 25% of the proceeds in any subsequent year.
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. Coro Mining Corp. holds a 20.5% interest in Valley High.
VALLEY HIGH VENTURES LTD.
?Robert Cameron?
Robert Cameron
President and CEO
For further information please visit Valley High?s website at www.valleyhighventures.com or contact Robert Cameron, at (604) 682 5546. or
Renmark Financial Communications Inc.
Barry Mire: bmire@renmarkfinancial.com
Barbara Komorowski: bkomorowski@renmarkfinancial.com
Tel.: (514) 939-3989 or (416) 644-2020, www.renmarkfinancial.com
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."