Acquisition of Shares of EPM Mining Ventures Inc.

TORONTO, May 27, 2011 /CNW/ - This press release is issued by Valley Holdings Inc. ("VHI"), an indirect wholly owned subsidiary of Tata Chemicals Limited, pursuant to the early warning requirements of National Instrument 62-103 with respect to common shares ("Common Shares") of EPM Mining Ventures Inc. ("EPM"), a reporting issuer in certain jurisdictions in Canada.  In accordance with such early warning requirements, VHI is required to report certain information in respect of its holdings of securities of EPM.  As of the date hereof, the outstanding share capital of EPM consists of Common Shares and non-voting common shares ("Non-Voting Shares"), each of which being convertible into one Common Share subject to the terms and conditions thereof.

VHI announced today that it has acquired ownership and control of 16,677,612 Common Shares, representing approximately 32.9% of the issued and outstanding Common Shares on an undiluted basis and 15.9% of the Common Shares assuming conversion of the Non-Voting Shares into Common Shares on a one-for-one basis.

VHI acquired the Common Shares of EPM upon the completion today of the amalgamation (the "Amalgamation") pursuant to the amalgamation agreement dated April 18, 2011 between EPM, 44907 Yukon Inc. and 44170 Yukon Inc. ("BidCo").  A press release announcing the completion of the Amalgamation was issued by EPM on May 26, 2011. Prior to the Amalgamation, VHI had acquired a total of 16,677,612 common shares of BidCo at a price of $0.67 in cash per share. Pursuant to the Amalgamation, each common share of BidCo was exchanged for one Common Share on May 26, 2011.

Immediately prior to the Amalgamation, VHI did not own or control any securities of EPM. The securities were acquired for investment purposes. VHI will evaluate its investment in EPM from time to time and may, based on such evaluation of market conditions and other circumstances, increase or decrease shareholdings in EPM as circumstances require. For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder, please go to the EPM profile on the SEDAR website or contact VHI at telephone number: 973-599-5507.

Note: Disclosure regarding the percentage of outstanding Common Shares held by VHI and EPM's outstanding share capital is based on information provided by EPM.

Note on Forward-Looking Information

This press release includes certain forward-looking information, including statements relating to VHI's interests in EPM and its future intentions in respect thereof, using words including "anticipate ", "believe", "could", "expect", "intend", "may", "plan", "potential", "project", "seek", "should", "will", "would" and similar expressions, which are intended to identify a number of these forward-looking statements.  This forward-looking information reflects current views with respect to current and future events and circumstances and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions, including those relating to changes in business, performance and markets. Actual results may differ materially from information contained in the forward-looking information as a result of a number of those factors. Forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes  VHI undertakes no obligation to publicly update or revise any forward-looking information contained in this press release, except as required by applicable laws.

SOURCE Valley Holdings Inc.

For further information:

Valley Holdings Inc.
120 Eagle Rock Avenue
East Hanover, New Jersey U.S.A. 07936
Attention: John S. Mulhall, Vice President & Chief Financial Officer

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Valley Holdings Inc.

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