Ticking... is this valves?

[Venturous]

2007 Cobalt LT, 160,000 miles. Runs fine. Good power, no miss or hesitation.

But has developed a fairly loud ticking noise. Seems worse on start and acceleration.

Below is a Youtube recording I made. Not very loud. Probably have to turn up speakers. You can hear how it is loudest when I rev it.

Would this be valves that need replaced?

Thanks

Gary

 

[cseybert]

Does it go away at all when it warms up? mine is doing this, and it is an exhaust manifold leak.