SOURCE: Victoria Gold Corp.

Victoria Gold Corp.

May 29, 2015 08:15 ET

Victoria Gold Files Revised Feasibility Study on the Eagle Gold Project

TORONTO, ON--(Marketwired - May 29, 2015) - Victoria Gold Corp. (TSX VENTURE: VIT) "Victoria" or the "Company" has filed a revised 43-101 Technical Report (the "Revised Report"). The Revised Report is a revision of the Company's previously filed Technical Report -- Feasibility Study Eagle Gold Project, Yukon, dated April 5, 2012 (the "2012 Report").

The revision is in connection with a continuous disclosure review by the Ontario Securities Commission. Victoria has enhanced certain disclosure within the Feasibility Study with the most material change being the addition of after-tax economics. The Revised Report supersedes the 2012 Report in its entirety and the 2012 Report should no longer be relied upon by investors. The Revised Report is available for review at www.sedar.com.

Qualified Person
The technical content of this press release has been reviewed and approved by Paul D. Gray, P. Geo., the Company's Qualified Person as defined by National Instrument 43-101.

About the Dublin Gulch Project
Victoria Gold's 100%-owned Dublin Gulch gold property is situated in the central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 85 kilometers from the town of Mayo. The Property is accessible by road year-round, and is located within Yukon Energy's electrical grid. The Company has constructed and maintains a 100 person all-season camp at the project site.

The Property covers an area of approximately 555 square kilometers, and is the site of the Company's Eagle Gold Deposit. The Eagle Gold Deposit is expected to be Yukon's next operating gold mine and includes Probable Reserves of 2.3 million ozs of gold from 92 million tonnes of ore with a grade of 0.78 grams of gold per tonne. The Mineral Resource has been estimated to host 222 million tonnes averaging 0.68 grams of gold per tonne, containing 4.9 million ounces of gold in the Indicated category, inclusive of Probable Reserves, and a further 78 million tonnes averaging 0.60 grams of gold per tonne, containing 1.5 million ounces of gold in the Inferred category. See the Revised Report filed on www.sedar.com.

Cautionary Language and Forward-Looking Statements
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.

Contact Information

  • For Further Information Contact:
    John McConnell
    President & CEO
    Victoria Gold Corp
    Tel: 416-866-8800
    Fax: 416-866-8801
    www.vitgoldcorp.com