Valencia Provides Update on the Cachinal Property

Valencia Ventures Inc. ("Valencia" or the "Company") (TSX VENTURE:VVI) is
pleased to provide the following update with respect to its agreement with
Apogee Silver Ltd. ("Apogee"). Further to previous news releases issued by the
Company (October 5, 2009 and December 21, 2010), the parties have now agreed
that Apogee will purchase all of Valencia's participating interest in Compania
Minera Valencia Ventures - Chile Limitada ("Compania Minera"). Compania Minera
holds Valencia's entire 80% participation interest in each of the Cachinal
Property and the Nueva Juncal Silver Property, both located in northern Chile,
for an aggregate purchase price of $500,000 in cash and 3,000,000 common shares
of Apogee. Completion of this transaction remains subject to receipt of
regulatory approvals, including the approval of the TSX Venture Exchange. The
acquisition is a non-arm's length transaction for the purposes of the TSX
Venture Exchange as Apogee and Valencia have a common director, Mr. Stan Bharti.



About Valencia 

Valencia is a Canadian resource company traded under the symbol VVI on the TSX
Venture Exchange. For additional information on this press release or Valencia's
projects, please visit www.valenciaventures.com. 


Cautionary Note Regarding Forward-Looking Information. This press release
contains "forward looking information" within the meaning of applicable Canadian
securities legislation. Forward looking information includes, but is not limited
to, statements with respect to the sale of the Cachinal and Juncal silver
properties, future financial or operating performance of the Company, its
subsidiaries and its projects, and statements regarding exploration prospects.
Generally, forward looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially different from those
expressed or implied by such forward-looking information, including but not
limited to: financing not being available at desired prices; general business,
economic, competitive, political and social uncertainties; the actual results of
current exploration activities; timing and availability of external financing on
acceptable terms; conclusions of economic evaluations; changes in project
parameters as plans continue to be refined; future prices of mineral prices;
failure of plant, equipment or processes to operate as anticipated; accidents,
labour disputes and other risks of the mining industry; and, delays in obtaining
governmental approvals or required financing or in the completion of activities.
Although the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward looking information. The
Company does not undertake to update any forward-looking information, except in
accordance with applicable securities laws.


To view Figure 1 Location and Regional Setting Cachinal and Juncal Projects,
please visit the following link:


http://media3.marketwire.com/docs/vvimap.pdf



                    Table 1 Nueva Juncal Property Summary                   
                                                                            
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Concession                             Owner     Area (ha)              Type
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Barbara 1, 1-60              Silver Standard           300      Exploitation
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Barbara 2, 1-30              Silver Standard           300      Exploitation
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Barbara 3, 1-60              Silver Standard           300      Exploitation
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Barbara 5, 1-30              Silver Standard           300      Exploitation
----------------------------------------------------------------------------
Barbara 6, 1-30              Silver Standard           300      Exploitation
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Barbara 7, 1-30              Silver Standard           300      Exploitation
----------------------------------------------------------------------------
Barba 4, 1-60                Silver Standard           300      Exploitation
----------------------------------------------------------------------------
                   Total                              2100                  
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To view Figure 2 Nueva Juncal Concession Map, please visit the following link:

http://media3.marketwire.com/docs/vvimap2.pdf
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