Victoria Resource Corporation

Victoria Resource Corporation

July 11, 2007 12:03 ET

Victoria Announces $2 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 11, 2007) -


Victoria Resource Corporation (TSX VENTURE:VIT) ("Victoria" or the "Company") is pleased to announce that it has arranged a non-brokered private placement for gross proceeds of up to $2 million in units priced at $0.60. The units will be comprised of one common share and one-half of one share purchase warrant. Each whole warrant will be exercisable to purchase one common share at an exercise price of $0.75 for a two year period from the date of closing. The Company may pay a finder's fee of 7%, payable in cash. EastWest Gold Corporation (formerly Bema Gold Corporation), currently holds a 28.5% interest in the Company, and will be purchasing 1 million of the units at $0.60. This private placement remains subject to regulatory approval.

Victoria will use the proceeds from this private placement for exploration of its Nevada properties and for general corporate purposes.

Victoria's qualified person under National Instrument 43-101 is Tom Garagan, P.Geo. Mr. Garagan is a Director of Victoria and the Senior Vice President of Exploration for B2Gold Corp.

On behalf of Victoria Resource Corporation,

Roger Richer, President and Director

The common shares and warrants described herein and any securities which may be issued thereunder have not been and will not be registered under the U.S. Securities Act of 1933 as amended and may not be offered or sold in the U.S. or to a U.S. person in the absence of such registration or an exemption therefrom.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

The TSX Venture Exchange neither approves nor disapproves the information contained in this news release.

Contact Information

  • Victoria Resource Corporation
    Ian MacLean
    VP, Investor Relations
    (604) 681-8371
    Victoria Resource Corporation
    Kerry Suffolk
    Manager, Investor Relations / Finance
    (604) 681-8371