SOURCE: Victoria Gold Corp.

Victoria Gold Corp.

August 10, 2016 07:00 ET

Victoria's Newly Elected Board Adds Considerable Development and Operations Experience

TORONTO, ON--(Marketwired - August 10, 2016) - Victoria Gold Corp. (TSX VENTURE: VIT) ("Victoria" or the "Company") held its' Annual General Meeting in Whitehorse, Yukon Territory on August 8, 2016. All resolutions put forth by management were approved by the shareholders. This includes the election of T. Sean Harvey, John McConnell, Christopher Hill, Leendert Krol, Patrick Downey, Heather White and Michael McInnis to the board of directors.

John McConnell, CEO, President and director commented, "The combined experience in geology, finance, mine development and operations will serve Victoria well as we continue to advance the Eagle Project toward production."

The Board of Directors of Victoria Gold Corp. has granted 600,000 options to directors of the Company, in each case under the stock option plan of the Company which was approved by shareholders on August 8, 2016. The options will vest over an 18-month period, have an exercise price of $0.70 and are exercisable for a period of five years from the date of the grant thereof.

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 Project. The Eagle Gold Project 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, as outlined in a National Instrument 43-101 feasibility study.

Qualified Person

The technical content of this news release has been reviewed and approved by Paul D. Gray, P.Geo., as the Qualified Person.

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