Firebird Global Master Fund, Ltd. discloses 10% position in Valencia Ventures Inc.

    GRAND CAYMAN, April 10 /CNW Telbec/ - This press release is being
published in relation to past transactions of securities of Valencia Ventures
Inc. ("Valencia") (VVI - TSX Venture).
    Firebird Global Master Fund, Ltd. ("FGMF") announces that on November 22,
2006 it acquired ownership and control over an additional 236,000 common
shares of Valencia representing 0.73% of the outstanding common shares of
    The common shares were acquired for investment purposes through the
facilities of the TSX Venture Exchange.
    Following this acquisition, FGMF has ownership and control over an
aggregate of 2,121,000 common shares and 1,562,500 warrants to acquire the
same number of common shares in the share capital of Valencia, representing
6.32% of the outstanding common shares of Valencia (or 10.36% assuming the
exercise by FGMF of the said warrants, including the common shares deemed to
be acquired pursuant to the exercise of warrants). FGMF may, from time to
time, acquire additional securities of Valencia, may continue to hold its
present position or may dispose of its securities, however, a joint actor of
FGMF currently intends to acquire securities of Valencia.

    FGMF is a contrarian portfolio equity fund that invests in markets
throughout the world.

    This press release is being issued in order to comply with the disclosure
requirements under applicable securities legislation. This press release is
not an admission that FGMF owns or controls any described securities or is a
joint actor with anyone else.

For further information:

For further information: or to obtain a copy the report of acquisition,
contact: Mr. James Passin, Director, Firebird Global Master Fund, Ltd., (212)

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Firebird Global Master Fund, Ltd.

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