Victoria Gold Corporation

Published : June 18th, 2014

Victoria Receives $10 Million Third Payment from Sale of Cove Property

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Keywords :   Canada | Gold | Gold Mine | Gold Mines | Gold Producer | Market |

Victoria Receives $10 Million Third Payment from Sale of Cove Property

Toronto, ON / ACCESSWIRE / June 18, 2014 / Victoria Gold Corp. (TSX.V-VIT) ("Victoria" or the "Company") All $ values are in Canadian dollars.

On June 14, 2012, Victoria closed the sale of its Cove McCoy property to Premier Gold Mines Ltd ("Premier") for $28 million to be paid over 24 months plus a further $20 million in contingent production payments. Upon closing, Victoria received $4 million cash and $4 million in Premier common shares. On June 14, 2013, Victoria received the second payment of $5 million cash and $5 million in Premier common shares. On June 16, 2014 Victoria received the third payment of $5 million in cash and $5 million in Premier common shares.

About Victoria


Victoria Gold is an emerging gold producer whose flagship asset is its 100% owned Dublin Gulch property which hosts the Eagle Gold Deposit. Dublin Gulch is situated in the central Yukon, Canada, approximately 375 kilometers north of the capital city of Whitehorse. The property covers an area of approximately 555 square kilometers, is accessible by road year-round and is located within Yukon Energy Corporation's electrical grid.

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 contained in 92 million tonnes of ore with a grade of 0.78 grams of gold per tonne, as outlined in a National Instrument 43-101 Compliant Feasibility Study. The NI 43-101 Compliant 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.

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.


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

SOURCE: Victoria Gold Corp.

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Victoria Gold Corporation

DEVELOPMENT STAGE
CODE : VIT.V
ISIN : CA92625W1014
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Victoria Gold Corp. is an exploration gold company based in Canada.

Victoria Gold Corp. holds various exploration projects in Canada and in Guyana.

Its main asset in development is DUBLIN GULCH EAGLE GOLD MINE in Canada and its main exploration properties are TASSAWINI GOLD, COVE, TASSAWINI, WHITE CREEK, MILL CANYON and KAITUMA in Guyana and EUREKA, SANTA FE, MAR-TUNGSTEN and DUBLIN GULCH MAR TUNGSTEN in Canada.

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Corporate Presentations of Victoria Gold Corporation
3/6/2015Provides Updated Corporate Presentation
In the News and Medias of Victoria Gold Corporation
5/20/2010Sign MOU on the Eagle Gold Project
Financings of Victoria Gold Corporation
8/8/2016Victoria Gold Announces $25,025,000 Bought Deal Financing
8/7/2009 Commences Drilling at Santa Fe, Nevada and Closes Flow-Thro...
Option Grants of Victoria Gold Corporation
12/18/2009Announces Grant of Stock Options
Nominations of Victoria Gold Corporation
2/4/2011Announces Appointment of John McConnell as President and CEO
1/8/2009Appoints John McConnell as Executive Vice President
Project news of Victoria Gold Corporation
4/5/2017Begins $6.2M, Phase 1 Exploration Program, Yukon
2/6/2013Closes the Sale of the Big Springs Property in Nevada
9/11/2012Continues to Define Higher Grades at Eagle Gold Deposit
5/25/2012(Mill Canyon)Enters Into Agreement to Sell its Mill Canyon Property in Ne...
9/19/2011(Mill Canyon)To Drill the Mill Canyon Project in Nevada
5/23/2011(Dublin Gulch Eagle Gold Mine)Reports Positive Drill Results from the Eagle Gold Deposit
5/12/2011(Cove)Announces Updated Cove Resource Estimate
2/28/2011(Dublin Gulch Mar Tungsten)Victoria Gold Announces 2011 Dublin Gulch Exploration Progra...
2/28/2011(Dublin Gulch Eagle Gold Mine)Announces 2011 Dublin Gulch Exploration Program
2/7/2011(Dublin Gulch Eagle Gold Mine)Announces Further Progress on the Path toDevelopment of the ...
1/25/2011(Dublin Gulch Eagle Gold Mine)Announces Eagle Feasibility Study Underway
12/10/2009Eagle Gold Project Drilling Results Including 161.8 m Gradin...
6/23/2009(Cove)Announces Additional High-Grade Gold Assays From the Helen Z...
3/2/2009(Cove)Advancing the Helen Zone: Growth Plans Defined
Corporate news of Victoria Gold Corporation
7/6/2016Victoria Receives Surface Trench Results from Olive includin...
7/5/2016Victoria Gold Purchases Construction Camp and Reduces Upfron...
6/28/2016Victoria Receives Olive Results including: 168m at 0.92 g/t ...
6/17/2016Victoria Gold Closes $2.85 Million Flow-Through Financing at...
6/16/2016Victoria Gold Strengthens its Technical Team with the Appoin...
6/15/2016Victoria Receives Olive Results including: 35m at 1.8 g/t an...
6/3/2016Victoria Confirms High Grade Results at Olive including: 46m...
5/24/2016Victoria Confirms High Grade Mineralization between the Oliv...
5/16/2016Victoria's Shamrock Zone Achieves 88% Metallurgical Recovery
12/24/2015Victoria Gold Completes $3.6M Flow-Through Financing to Dril...
12/22/2015Victoria Gold Receives Final Major Permit for Eagle Gold Pro...
12/22/2015Victoria Gold Completes Flow-Through Private Placement Finan...
12/16/2015Victoria Announces Grant of Stock Options
8/7/2015Victoria's High Grade Olive Zone is Heap Leachable
2/26/2015Yukon Ranks 1st in Mineral Potential and 9th Overall in the ...
2/24/2015Victoria's Olive Zone Demonstrates Attractive Metallurgical ...
2/24/2015(Cove)Olive Zone Demonstrates Attractive Metallurgical Recovery an...
1/14/2015Announces Grant of Stock Options
11/4/2014Victoria Completes Successful Exploration Program at High-Gr...
8/13/2014Victoria Announces Olive Grows as Step-Out Holes Continue to...
7/28/2014Victoria Continues to Receive High Grade Results at Olive; $...
6/24/2014Victoria's Olive Zone Yields High Grade Gold Intercepts Over...
6/18/2014Victoria Receives $10 Million Third Payment from Sale of Cov...
5/20/2014Victoria Initiates Drilling to Test High Grade Target Adjace...
5/20/2014Victoria Initiates Drilling to Test High Grade Target Adjace...
4/19/2014Victoria Gold Announces Changes to its Board of Directors
5/7/2013Provides Status Report on Eagle Gold Project
2/22/2013Announces Upcoming Marketing Events
2/15/2013Acquires Common Shares of Banyan Gold Corp.
1/28/2013Extends Gold Mineralization at Olive, Adjacent to Victoria's...
1/12/2013Announces Grant of Stock Options
1/12/2013Announces Grant of Stock Options
10/29/2012Expands Higher Grade Gold Target at Olive, Adjacent to Victo...
6/26/2012Working Capital Update
6/7/2011The First Nation of Nacho Nyak Dun and Victoria Extend Explo...
3/17/2011Selected for Global X S&P/TSX Venture 30 Canada ETF
4/27/2010Completes Guyanese Gold Asset Transaction
1/12/2010Hits Another Wide Gold Intercept at Santa Fe: 284 m Grading ...
12/15/2009 Provides Update on Nevada Gold Projects
11/13/2009Announces Guyanese Gold Asset Monetization
11/2/2009 Announces the Sale of the Clear Creek Exploration Property ...
10/29/2009 Announces That Drilling at Summit Gold Project is Underway
7/20/2009Exceptional Gold Exploration Results in Guyana
7/16/2009Notice of AGM on July 22, 2009
6/5/2009Closing of Business Combination With StrataGold Corporation
5/27/2009Acquisition by Victoria Gold Corp. Approved by Shareholders ...
2/13/2009StrataGold Corporation and Victoria Gold Corp. Webcast
2/11/2009 and StrataGold Corporation Announce Business Combination
1/26/2009 Board Approves $2.5 million Budget to Advance Nevada Gold P...
12/17/2008Announces Closing of Business Combination with Gateway Gold ...
5/30/2007Further Drill Results at Cove-McCoy Project, Nevada
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