Valley High Ventures Ltd. announce that it has entered into an option agreement with Phelps Dodge Corporation of Canada, Limited (“PDC”), a wholly owned subsidiary of Freeport-McMoRan Copper & Gold Inc. to acquire a 100% interest in the Flume property located in Yukon Territory Canada. The Flume property is located 60 km southwest of Dawson City, Yukon and 30 kilometres northwest of Underworld’s White Gold discovery and comprises 191 mineral claims totaling approximately 3900 hectares. It covers the headwaters of Ten Mile Creek, a well known placer mining location, as well as the headwaters of Sestak Creek, a drainage with reported historical placer mining activity.
Exploration crew mobilized. No drilling has been done on the properties and the objective of the current program is to identify drill targets for 2004. The focus of the exploration work is follow-up prospecting and mapping of the identified showing areas as well as prospecting and extending soil sample coverage of certain high priority grids.
