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Message: Valley High Options Boundary Area Claim to Imperial Metals
| April 28, 2009 |
| Valley High Options Boundary Area Claim to Imperial Metals |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 28, 2009) - Valley High Ventures Ltd. ("Valley High") (TSX VENTURE:VHV) is pleased to announce that it has entered into an option agreement with Imperial Metals Corporation ("Imperial") whereby Imperial has been granted the right to acquire a 100% in one complete mineral cell and four partial cells that are adjacent to Imperial's Boundary Zone deposit on its Mount Polley mine property located near Williams Lake, British Columbia. Imperial may exercise its option by paying a total of $300,000 in cash on or before January 1, 2010, with the first payment of $100,000 to be paid on signature of the agreement. The claims will be subject to a two stage royalty for material from the claims that is milled at the Mount Polley mine concentrator. The stage I royalty is $2.50 per tonne for the first 400,000 tonnes of material milled. The stage II royalty is $1.25 per tonne for all tonnes milled in excess of 400,000 tonnes. The stage II royalty can be reduced to $0.62 per tonne by Imperial making a payment of $1,000,000 to Valley High. Robert Cameron, president of Valley High states, "We are very pleased to be entering into this agreement with Imperial Metals and look forward to a long and rewarding relationship. This agreement validates our long held view that in a mine site environment smaller discoveries can be monetized through arrangements with neighboring producers. We look forward to additional exploration successes on our large land package that adjoins Imperial's Mount Polley mine. Valley High plans to drill test several high priority targets this summer." According to Imperial, "The optioned property will facilitate an open pit design for the near surface mineralization discovered in the Boundary zone. In addition to the drilling currently underway in the Boundary zone, Imperial plans to conduct drilling on the optioned property." Valley High has been exploring the area adjacent to Imperial's Boundary zone since 2006 and has completed two successful drill programs that have returned significant high grade copper and gold intersections. Examples include drill hole L06-07 that intersected 21 metres grading 2.01 per cent copper and 0.68 gram per tonne gold and hole L06-9 that intersected 20.4 metres grading 0.87 per cent copper and 0.39 g/t gold. (Refer to News Release dated October 2, 2006). The optioned property comprises one complete mineral cell and four partial cells. Valley High owns a 90% interest in the tenure and will receive 90% of the proceeds. A private company owns the remaining 10% interest in the property. VALLEY HIGH VENTURES LTD. Robert Cameron, President and CEO 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 an option to acquire 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. |
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