Corral Valley Cave
Items:
Viper Halberb, Bolt Armlet, HypnoCrown, Megalixir, "MP" Materia, Power Source
In the morning, the team heads for the Correl Valley Cave and Icicle Inn. The team hasn't had a rest since the Jenova-LIFE Boss fight, so use the beds in the next home for some rest. When you're ready, take the right path (the one Cloud envirsions Sephiroth walking on0 out of the area.
Climb the twisting "conch shell" Stairs, and then walk around the outside of the shell to reach the high ledge. You can reach the chest in this area by simply walking to the left of the stairs and around the base of the shell.
Scale the cracked cliffs by going inside the crask, and then push up or down as if climbing normally. When you reach a ledge, you're asked which direction you want to go. You may need to exit a crack and then re-enter it to go higher.
Tip:
Climb down the long ladder on the left side. At hte bottom you'll find a "MP" Materia.
When you reach the World Map, head west, and then wrap around the mountains to the Icicle Inn.