VANCOUVER, BRITISH COLUMBIA, Mar. 29, 2010 (Marketwire) -- Valley High Ventures Ltd. ("Valley High" or the "Company") (TSX VENTURE:VHV) wishes to announce that it has entered into a Termination Agreement (the "Agreement") with Freeport-McMoRan Exploration Corporation ("FMEC") to terminate FMEC's back-in right on the Cordero property, in Mexico.
Under the terms of the Agreement, Valley High will issue 400,000 shares of the Company, subject to regulatory approval, to FMEC to terminate all FMEC's rights in respect of the Cordero property including its back-in right to 70% of Valley High's interest in Cordero, which was subject to certain criteria being met.
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 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.
Robert Cameron, President and CEO
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."