December 24, 2009
Valley High Completes Non-Brokered Private Placement For Proceeds of $1.575 Million
December 24, 2009, Valley High Ventures Ltd. ("Valley High" or the "Company") (TSX-V Symbol VHV.V) and Coro Mining Corp. ("Coro") (TSX Symbol: COP) are pleased to announce that Valley High has closed its previously announced non-brokered private placement for gross proceeds to the Company of $1,575,000 through the issuance of 3,500,000 units ("Units") Each Unit was priced at $0.45 and comprised one common share and one-half of one transferable common share purchase warrant. Each full warrant entitles the holder to purchase one additional common share of Valley High at a price of $0.65 for a period of 18 months from closing of the private placement.
Further to Coro's new release dated December 22, 2009, Coro subscribed for 3,050,000 Units of Valley High pursuant to the non-brokered private placement.
All securities issued pursuant to the private placement will be subject to a four month hold period under applicable securities laws expiring April 25, 2010. The aggregate net proceeds raised from the issuance of the units under the Company's previously announced brokered offering and this non-brokered offering will be used to fund a proposed exploration program at Cordero and for general working capital purposes.
About Valley High:
Valley High is a Canadian based precious and base metal exploration company with projects located in Mexico, British Columbia and Yukon. The Company's Cordero property in Mexico is being evaluated for large bulk mineable silver, gold, zinc and lead deposits geologically similar to the large Peñasquito deposit currently being developed by Goldcorp Inc. Recent drill results from Cordero include the discovery of a new zone at Pozo de Plata wherein drill hole C09-5 returned 152 metres grading 80.64 g/T Ag, 0.61 g/T Au, 1.41 % Zinc and 1.22% lead. Levon Resources Ltd. has an option to earn a 51% interest in the project by funding exploration work totaling Cdn. $1,250,000 plus their proportion of the underlying option and property maintenance costs.
The Company's Mount Polley project is located in British Columbia adjacent to Imperial Metals Corp.'s ("Imperial") Mt. Polley copper-gold mine. Valley High has recently optioned its interest in one portion of this property, the 37 hectare Boundary Zone, to Imperial in return for a production royalty. Valley High also has an option to acquire a 100% interest in the Flume gold property in the Yukon which is located within the newly recognized White Gold District some 30 kilometres from the new Golden Saddle discovery of Underworld Resources Inc.
About Coro Mining Corp.:
Coro was founded with the goal of building a mining company focused on medium-sized base and precious metals deposits in Latin America. Coro intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production. Coro's core property is the advanced San Jorge copper-gold project, in Argentina, and the Coro holds other earlier stage exploration properties located in Chile.
VALLEY HIGH VENTURES LTD. CORO MINING CORP.
"Robert Cameron" "Alan Stephens"
Robert Cameron Alan Stephens
President and CEO President and CEO
For further information please visit Valley High's website at www.valleyhighventures.com or contact Robert Cameron, at (604) 682 5546.
For further information please visit the Company's website at www.coromining.com or contact Michael Philpot, Executive Vice-President at (604) 682 5546 or investor.info@coromining.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."
You can view the Next News Releases item: Tue Jan 5, 2010, Coro Announces 88 Metres at 0.47% Copper From Drilling Program at Chacay Property
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