NEW YORK, Oct. 17, 2012 (GLOBE NEWSWIRE) -- Valley High Mining Company (OTCQB:VHMC) (the "Company" or "Valley High") is pleased to announce that it has executed a binding Letter of Intent (LOI) to acquire an interest in a Joint Venture Agreement (the "Agreement"). The LOI will see Valley High become Joint Venture owner of a current producing Alluvial Gold project in the Madre de Dios area of the Amazon River basin.
The Agreement provides that Valley High shall contribute up to $500,000.00 USD in direct investment into the producing project. The entire investment will be allocated to acquiring assets enabling the increase of gold production from current levels to commercial standards.
Valley High CEO Michel Van Herrweghe stated: "The Madre de Dios project" is an exceptionally rare opportunity for the company. The prospects of generating commercial levels of revenue from Madre de Dios will be evidenced in the near term. At the same time it further confirms the company's interest and ability to operate in Peru with its associations and local partners.
About Madre de Dios Project: Madre de Dios is a 400 hectare fully permitted alluvial concession in current production. Located in the prolific Amazon River basin of Peru, approx 108 kilometres from Puerto Maldonado and easily accessed from the Trans- Oceanic Highway which crosses the Andean watershed.
About Valley High: The Company has a continued focus on the evaluation, acquisition, exploration and development of mineral resource properties in Peru. The Madre de Dios Project will represent the first revenue producing property for the company. Valley High has made other capital expenditure(s) in Peru and has several other projects which are currently under review.
For further information, please visit the Company's web site: www.valleyhighmining.com or www.vh-mining.com.
Michel Van Herrweghe, President
This news release may include certain forward-looking statements. All statements, other than statements of historical fact, included in this release are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. This notice expressly qualifies all forward-looking statements in this release. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors, which may be identified, from time to time in the Company's public announcements.
CONTACT: Michel Van Herrweghe Phone Number: 1-303-647-1914 firstname.lastname@example.orgSource:Valley High Mining Company