Valley High Ventures

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White Gold District Property Synopsis

Shares Out: 30,070,554
Market Capitalization: 4,961,641
Estimate of Cash Position: 700,000
Property Name: Flume
Property Size (Hectares): 3,900
Distance from White Gold: 30 km NW
Property Origin: Phelps Dodge


Valley High may earn a 100% interest from Phelps Dodge by making payments totalling $225,000 and completing $500,000 of work over four years. The initial payment of $10,000 is due on the six-month anniversary of the option and Valley High commits to completing a $200,000 work program by the second anniversary. PDC retains a 2% NSR of which one-half can be repurchased by Valley High for a sum of $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 per cent of the proceeds in any subsequent year.

Company Overview

More advanced than most of the properties optioned by other area players, a northern Flume target has dimensions of 3.5 kilometres by three kilometres with gold in soil values ranging from 10 ppb to a high of 615 parts per billion. The best rock sample collected from this area returned 2.7 grams per tonne gold from quartz stockwork-bearing intrusive float. The southern Sestak target has dimensions of 3.7 kilometres by one kilometre as defined by a combined arsenic and gold soil anomaly (max gold value 1,317 ppb). Rock samples collected from this area include 10 samples that assayed greater than 1,000 ppb with the best sample returning 3.5 g/t Au from a lead- and zinc-rich skarn developed in a limestone horizon within meta-sediments.

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