Virginia Mines Inc VGMNF

VIRGINIA GRANTS 169,750 STOCK OPTIONS

[20/20/12]

VIRGINIA GRANTS 169,750 STOCK OPTIONS

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Virginia Mines Inc. (“Virginia”) announces that today it has granted 169,750 stock options to its directors, officers, employees and service providers.

Of this number 50,000 have been granted to its directors and officers and 119,750 have been granted to its employees and service providers. Each stock option entitles its holder to subscribe to one common share of Virginia at a price of $9.04 per share, which is higher than the January 12, 2012 closing price on the Toronto Stock Exchange. These options are valid for a 10-year period.

Third Quarter Financial Results

 Virginia reported on January 12, 2012, financial results for the third quarter ended November 30, 2011. The documents are available on the website:

https://www.virginia.qc.ca/ajouts/rapports/tri2012/Q2_VGQ_EF2012_en.pdf

https://www.virginia.qc.ca/ajouts/rapports/tri2012/Q3_VGQ_RG2012_en.pdf

About Virginia

Virginia is among the most active mining exploration companies in Quebec with a working capital of $43.6 million as at November 30, 2011, and 31,519,443 shares issued and outstanding as at January 13, 2012. Virginia trades on the Toronto Stock Exchange (TSX) under the ticker symbol VGQ. Virginia concentrates its activities on its numerous properties that are spread over the vast unexplored regions of northern Quebec.