Victoria and the First Nation of Nacho Nyak Dun have been actively
engaged in negotiating a Comprehensive Cooperation Benefits Agreement
("CBA") on the Eagle Gold Deposit and are making significant
progress. In the interim both parties have agreed to extend the
existing Exploration Agreement for an additional one year. Upon completion
the CBA will supersede the Exploration Agreement.
"The extension of the Exploration Agreement with the First Nation of
Nacho Nyak Dun is the next step in negotiating a Comprehensive Cooperation
Agreement as the Eagle Gold Deposit advances to an operating mine" noted
John McConnell, President & CEO, "Victoria continues to work with the
First Nation of Nacho Nyak Dun to advance our projects within their
Traditional Territory and we enjoy a strong relationship that has been
developed over several years."
About Dublin Gulch
The Dublin Gulch gold project covers a large area, approximately 28
kilometres by 15 kilometres and contains the Eagle Gold Deposit which
hosts a National Instrument 43-101 compliant Resource of 4,827,000
Indicated ounces of gold contained in 222,194,000 tonnes grading 0.68 g/t
and 1,485,000 Inferred ounces of gold contained in 77,931,000 tonnes
grading 0.59 g/t which includes Probable Reserve of 1,751,000 ounces of
gold contained in 66,141,000 tonnes of ore grading 0.823 g/t calculated at
a gold price of $900 per ounce. The Dublin Gulch property is situated in a
highly prospective region of the central Yukon Territory is accessible by
road year-round and is situated in the Mayo Mining District of Yukon
Territory, Canada. Dublin Gulch is 100% owned by Victoria.
About Victoria Gold Corp
Victoria's strategy is to maximize shareholder value by advancing the
Eagle Gold deposit to production, and exploring our pipeline of projects
in Yukon and Nevada.
Cautionary Language and Forward-Looking Statements
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,
anticipated dates for the completion of work performed by external
consultants, 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.
This news release and the information contained herein does not
constitute an offer of securities for sale in the United States and
securities may not be offered or sold in the United States absent
registration or exemption from registration.
Neither the TSX
Venture Exchange, nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release.