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05/05/2015

Victoria Completes Successful Exploration Program

Victoria Completes Successful Exploration Program at High

 

Toronto, ON / ACCESSWIRE / November 4, 2014 / Victoria Gold Corp.Mr. , President and CEO of Victoria commented; 2014 Olive Program has continued to produce, near surface, high grade intersections along strike of our newly defined Olive Shear Zone. The success of the 2014 Phase 1 and Phase 2 Olive drilling programs has continued to increase our confidence that the Olive target represents a value add target adjacent to Victoria Eagle Gold Project. With the 2014 program now complete, management is moving forward with an Olive Mineral Resource Estimate with Black Suede/Leather Gwendoline 100mm the expectation that ultimately, this satellite ore body will further enhance the economics and extend the mine life of our flagship Eagle Project. utilizing the MA 300, 33 element analytical package with FA450 Fire Assay with Gravimetric finish for gold on all samples. All core samples were split on site at Victoria Eagle camp and shipped to ACME Analytical Laboratories preparation facility in Whitehorse, YT where samples were sorted and crushed to appropriate particle size (pulp) and representatively split to a smaller size for shipment to ACME Vancouver analysis facility. A comprehensive system of Blue Suede Donue 160mm standards, blanks and field duplicates was implemented in the 2014 exploration program and was monitored as chemical assay data became available.The Olive Zone target is defined by a broad gold/arsenic in soils geochemical anomaly and lies on the intrusive sediment contact of the Potato Hills Trend Brown Suede Donue 160mm (as does the Eagle Deposit) and is punctuated by several historically exploited high grade sulphide veins. The Olive area was mined on a small scale from shallow shafts and adits in the early 1900 and via placer mining in creeks draining the area. The Olive vein system is located near the top of Olive Gulch and consists of gold bearing quartz scorodite arsenopyrite vein material centralized in a shear zone structure.About the Dublin Gulch ProjectVictoria Gold 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 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 Eagle Gold Deposit. The Eagle Gold Deposit is expected to be Yukon 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. This press release includes certain statements that may be deemed statements All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated Multicolor Suede Diptic 100mm 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.