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Rings and valves are where your engine is going to pass oil into the combustion chamber. Piston rings are little metal dealys that go around the piston and keep oil from blowing by and entering the combustion chamber.
Valves of course are your intake and exhaust valves which are surrounded by a bath of oil, and if their seals leak, then oil gets dribbled into your combustion chamber from the top.
To do a valve and ring job would require a tear down, but would stop the leak. If you did it yourself, it's cheap. Just cost you time. I don't know how much a shop would charge. Probably close to 1500 or so. Maybe more.
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