Valencia Announces Passing of Chair

TORONTO, ONTARIO--(Marketwire - May 8, 2012) - Valencia Ventures Inc. (TSX VENTURE:VVI) ("Valencia" or the "Company") is sad to announce the sudden passing of Paul Roberts, the Chairman of the Board of Directors of the Company. Mr. Roberts was a seasoned geological and civil engineer and mining professional who previously headed the mining research team at Merrill Lynch Canada, followed by realizing success at the helm of four publicly traded junior mining companies. He served on several boards for various public companies in the mining sector, and was known for his wisdom and visionary leadership.

Mr. Roberts has greatly contributed to development plans for Valencia with his technical and financial expertise and will be greatly missed by his colleagues at Valencia. Valencia extends its deepest condolences to Mrs. Roberts and the rest of the Roberts family.

About Valencia

Valencia is a Canadian resource company with common shares that trade on the TSX Venture Exchange under the symbol VVI.

Forward-Looking Information

Certain information set forth in this press release contains "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking information, including statements with respect to management's assessment of Valencia future plans and operations, which statements are based on Valencia's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking information may be identified by words such as "expects" "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking information necessarily involve known and unknown risks and uncertainties, which may cause Valencia's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to: liabilities inherent in mine development and production; geological, mining and processing technical problems; Valencia's inability to obtain required mine licenses, mine permits and regulatory approvals required in connection with mining and mineral processing operations; title matters; foreign operations issues; local community issues; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Valencia undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.