Here's a quick link to a valve lapping run thru:
(I just quickly googled it)
http://www.affordablegokarts.com/valve-lapping.phpFor about $9 get a valve lapping tool (a stick with a suction cup on the end) and valve grinding/lapping compound.
And some patience and time... it's an easy job to do....and you'll get rid of those leaks.
Upon conversation with a buddy who refurbishes motors on a regular basis yesterday, he told me that, if you have access to a hand dril....
Skip the valve lapping tool..... load up the seat with compound.....put the valve in... tighten the drill onto the stem of the valve....and spin it while pulling the valve into it's seat.... TADA.... 1/16th of the time it takes to hand work the seats to a beautiful finish.
On that note here are a few tips:
-Lubricate the stem of your valve inside the guide
-Do not spin the drill to full speed (hopefully it's variable)...you can work them fast/slow etc....
-Every handfull of revolutions push the valve out of it's seat...then pull it back in (it replaces more gritty compound in there)....you'll feel it.
-do it in shot runs....pull out the valve, clean it, and if needed reapply compound and repeat (just to make sure you don't go too far and take off too much material) Again....after the first valve or two...you'll have a good feel
I did mine by hand....as I didn't think to use a drill!...but it would've been slick'n'quick...and I definately will be doing that next time I come across a lapping jobby.
Cheers!
Brendan