Mural Valley - West
A cut-scene commences, after which you will have to battle. Take Grand Ruby from a chest that appears afterwards. Go along the cliff and go across the first bridge. To the right there's a chest with Thorn Branch. Reach the clearing and examine the chests there for Gorgo Elixir, 2xMedals, Ancient Feather, as well as a spell Lv4 - Cure Paralysis. Head further along the cliff. Another Evil Mural will attack you. One more chest here, this time containing Flawless Sapphire. A few steps further you'll fight one more mural, this time for Flawless Ruby.
At the other side of the cliff there are chests with Iridescent Wind and 5xMedals - take them if you want, then go back to the same side of the cliff. Another Evil Mural lays ahead, as well as Ultra Magical Medicine as a reward for beating him. A little bit further is a chest with 4xMedals. For defeating the next monster you'll get Flawless Amethyst. In a chest at the end of the cliff there's 500 Gold. Go across the last bridge. Defeat a mural for Grand Light Crystal. A little bit ahead is a chest with Iridescent Cyclone, and at the other side - Ancient Fossil. After crossing the cliff once more, get back a bit to get a Water Bracelet, a Flawless Emerald, and 9xMedals (these chests are guarded by ostriches).
Head towards the "right" direction again. A scene will commence, in which heroes will tell you that they want to rest. Go a bit further, across a bridge, and defeat more ostriches. Take 1000 Gold, 8xMedals and a Fire Earring from the chests here. Examine the machinery parts in here for Grand Ruby and +1 Agility. A little bit further defeat the last Mural to get Wind Necklace. Go to the end of the path.
Use the save point if you like, then go further ahead. After a scene look through the rubble around the area for 2xMedals. In the next room listen to the Storyteller's tale. Get to the main room and use the shops if you need to. Get to the next room and activate a teleporter in there. Talk to one of the Child Murals to get a quest to find all the "cats" in the city. Now, mural cats look like flying spheres with eyes on them. In our case, there were 8 in the whole city. If you count them right, you'll get a spell Lv3 - Anchor.
Along the way to the next room you'll see Mystery Part Alpha. It's a part of a rare item that you won't assemble until Disc 3. In the room itself you'll see Gorgo Elixir, Ancient Feather and Part of Eternal Engine. Near the exit there's a Mural that asks you to find the Shabby Book.
Mural Valley - East
There's Iridescent Cyclone to the right. Go further ahead to fight a boss.
Boss - Flame Raptor
This battle is somewhat peculiar. All you need in order to win is a Winda spell. Funny thing is, that not only does it deal a lot of damage to the bird, but also increases its attack power. It's good to have a Zephyr spell available, just in case you need to heal the whole party at a time. If you have more than one character that can cast Wind/Winda (or its Magic Sword counterpart) you shouldn't have any problem with defeating this boss.
After the battle go further ahead. Go across the bridge to the left. When it falls down, take 8xMedals from a chest an defeat a Ruby Halbird that attacks you. This type of enemies can be monster-battled with Murals - it will come in handy. After defeating the nearby Mural you'll get a Jibral Earring. A little bit further you'll see a group of ostriches - defeat them to find a Shabby Book, an Ancient Feather, a Repeater Weed and 7xMedals. While you're still close to the village, it's good to return to the mural that wanted you to find the shabby book. You'll get a spell from him: Lv3 - Reflecta. When getting back to the beginning of the level, you'll see a chest containing 2xMedals as well.
When you're back to the valley, use the fallen bridge's rope to slide down to the bottom level. There's a chest with Light Crystal to the right. Get to the other side of the bridge and defeat the birds to get access to Water Bracelet, Flawless Ruby, and a Transformation Box (you can put Jibral Earring inside to get Jibral Ring - it seems worth it). A little big ahead you'll see two new types of murals: green ones (they can poison the whole party at once) and pink ones (they can cause Sleep status). You'll get Mega Invisibility Elixir for beating them, as well as Grand Light Crystal.
Go left and take a Grand Emerald from a chest. Defeat two more murals and take Phoenix Wind and Ultra Magical Medicine (the bridge will fall down when you cross it). Go further to battle another mural. You'll get Prismatic Crystal for this one (it appears on the opposite side of the valley, so you have to cross it in order to get it). Use the fallen bridge to get down again.
There's Sleep Powder and Broken Eternal Engine in the chests here. Go further to see some cut-scenes.