TORONTO, Aug. 15, 2018 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-V: VIT-V) The Board of Directors of Victoria
Gold Corp. (the “Company”) has granted 4,020,000 options to employees, consultants, directors and officers of the Company. The
option grant is in connection with the addition of an officer, two new directors and numerous new employees as the Company
continues to build its operations team while constructing the Eagle Gold Mine. The issuance is made under the stock option plan of
the Company. This plan was approved by shareholders on September 11, 2017 and allows the Company to issue a number of options up to
10% of its rolling issued and outstanding common shares. Including this issuance, outstanding options represent approximately 3.8%
of issued common shares. The options have an exercise price of $0.50 and are exercisable for a period of 3 years from the date of
the grant thereof with a vesting period of 12 months.
About the Dublin Gulch Property
Victoria Gold's 100%-owned Dublin Gulch gold property is situated in the central Yukon Territory, Canada, approximately 375
kilometres north of the capital city of Whitehorse, and approximately 85 kilometres from the village of Mayo. The Property is
accessible by road year-round and is located within Yukon Energy's electrical grid.
The Property covers an area of approximately 555 square kilometres and is the site of the Company's Eagle Gold
Deposit. The Eagle Gold Mine is expected to be Yukon's next operating gold mine and, between the Eagle and Olive deposits, include
Proven and Probable Reserves of 2.7 million ounces of gold from 123 million tonnes of ore with a grade of 0.67 grams of gold per
tonne, as outlined in a National Instrument 43-101 feasibility study. The NI 43-101 Mineral Resource for the Eagle and Olive
deposits has been estimated to host 191 million tonnes averaging 0.65 grams of gold per tonne, containing 4.0 million ounces of
gold in the "Measured and Indicated" category, inclusive of Proven and Probable Reserves, and a further 24 million tonnes averaging
0.61 grams of gold per tonne, containing 0.5 million ounces of gold in the "Inferred" category.
Qualified Person
The technical content of this news release has been reviewed and approved by Tony George, P.Eng., as the Qualified Person. For
additional information relating to the Property, refer to the technical report entitled "NI 43-101 Feasibility Study Technical
Report for the Eagle Gold Project, Yukon Territory, Canada", with an effective date of September 12, 2016, which is available on
the Company's profile at www.sedar.com.
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
