TSX – GVY

June 17, 2004

NEWS RELEASE

Pursuant to the Company’s stock option plan the Company has granted 250,000 new options with an exercise price of $.10 per share expiring June 16, 2007.

WOOD GROUP - The Company has just received the results of a detailed Mag. Survey carried out over the anomalous zones on the Monarch Claim. The following is taken from the Geophysicist’s report.

“The results strongly indicate the presence of an intrusive occurring within the survey area. The survey is not large enough to determine the strike direction and size of the intrusive, but it appears to be striking northwesterly and to be at least several hundred 600?) meters wide. The strike direction would be the same as that of the Iron Mask Batholith, which occurs immediately to the northeast. The intrusive occurs within the northeastern half of the survey area, which consists largely of a magnetic high. The southwestern part of the survey area consists of a magnetic low and is probably reflecting Nicola volcanics and/or sediments.

Within this large magnetic high are a series of smaller magnetic highs, that is highs within the high. The one centered at (200S, 525W) strikes northerly and correlates directly with a northerly-trending MMI soil anomaly that is anomalous principally in cobalt and gold. It also correlates directly with IP survey results. This high is also a part of a series of highs that trend northwesterly and that correlate with a northwesterly-trending gold MMI soil anomaly as well as a northwesterly-trending IP anomalous results. This anomaly therefore is considered a strong drill target.

Therefore, it is of the writer’s opinion that this target should be drilled with the collar at (200S, 525W) and with the direction of hole vertical. The results of the previous drilling indicated the close proximity of an intrusive. It is therefore probable that the previous holes did not go deep enough. The recommended depth is therefore at least 600 m. and as much as 800 m. “.

The Company intends to test this recommended target with diamond drilling as soon as possible.

The Wood Group Claims are located southwest of Kamloops, and south of Kamloops Lake in south-central British Columbia. The main Coquihalla Highway is located just to the east of the claim group.

The Wood Property is owned and operated in a 50/50 joint venture with Lakewood Mining Co. Ltd. (LKW-V)

The property location map can be viewed at www.lakewoodmining.com

Green Valley Mine Incorporated

Per:

“Charles Boitard”

Charles Boitard, President