Sun Valley Gold LLC

August 25, 2010 16:52 ET

Sun Valley Gold LLC: Control and Direction Over Common Shares of Victoria Gold Corp.

SUN VALLEY, IDAHO--(Marketwire - Aug. 25, 2010) - Sun Valley Gold LLC ("Sun Valley") announced today that it has, on behalf of client accounts over which it has discretionary trading authority, acquired control and direction over 19,200,000 common shares ("Common Shares") of Victoria Gold Corp. ("Victoria Gold"). The Common Shares, which are beneficially owned by Sun Valley's clients, were acquired on August 24, 2010 as part of a public offering by Victoria Gold (the "Offering") of a total of 41,112,500 Common Shares for a subscription price of $0.70 per share.

Following the completion of the Offering, Sun Valley exercises control and direction over an aggregate of 36,306,070 Common Shares and 2,777,500 common share purchase warrants ("Warrants") on behalf of client accounts over which it has discretionary trading authority. The 36,306,070 Common Shares over which Sun Valley exercises control and direction represent approximately 13.2% of Victoria Gold's issued and outstanding Common Shares. If exercised, the 2,777,500 Warrants over which Sun Valley exercises control and direction would, together with the 36,306,070 Common Shares over which Sun Valley exercises control and direction, represent approximately 14.1% of Victoria Gold's issued and outstanding Common Shares (after giving effect to the exercise of such Warrants, but not the exercise of any other convertible securities issued by Victoria Gold).

The Common Shares were acquired for investment purposes. Sun Valley and its clients may increase or decrease their ownership of securities of Victoria Gold depending upon future market conditions.

FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW.

Contact Information

  • Sun Valley Gold LLC
    Mr. Peter F. Palmedo
    President
    (208) 726-2327
    (208) 726-2469 (FAX)