Victoria Gold Corp

Victoria’s transformation and growth has been significant over the past twelve months, including the completion of two major corporate transactions adding a total of 4.4 million ounces of gold that are National Instrument 43-101 (“NI 43-101”) compliant to the Company, and successfully completing the Phase 1 drill campaign at the Helen Zone located at the Cove project in Nevada, USA.

over 14 years ago

TGDR Discovery Alert - Victoria Gold Corp

Victoria Hits Another Wide Gold Intercept at Santa Fe: 284 m Grading2.50 g/t

Shares outstanding: 194.98 million
Market cap: 150.13 million
TSX.V:VIT - $0.77

Dear member,

Victoria Gold Corp came out with very encouraging assay results yesterday of diamond drill hole BH-3 at the Santa Fe gold exploration project, Nevada. Drill hole BH-3 averaged 2.50 g/t over 284 meter which includes a higher grade mineralized block grading 11.46 g/t over 11.3 meter.

Drill hole BH-2 drilled in fall last year returned similar results (309 m grading 2.25 g/t). Victoria has drilled three drill holes so far at Santa Fe and needless to say the initial results are extremely encouraging. Victoria is currently drilling hole BH-4 and another drill rig is being moblized in order to accelerate the exploration.

Now Santa Fe definitely has the potential to become a company maker which underscores the fact that Victoria has become one of the fastest growing juniors mining companies on the planet. Victoria's management understands that growing company value can only be realized through adding ounces. Adding ounces can only be achieved through the drill bit and acquisitions. On both fronts Victoria has been working hard over the last 18 months which resulted in the acquisitions of Gateway StrataGold.

At the moment there's no need for Victoria to do further acquisitions, Victoria's focus is now to advance their projects toward production and to increase their total gold resources of 4.4 million ounces. Victoria will shortly announce the results of a pre-feasibility study for their Eagle Gold project in the Yukon and a prelimininary economic assessment for their Cove Gold Project Nevada. It's therfore most likely that Victoria will increase their total gold resource to over 5 million ounces shortly (results are expected before end of this month)

Victoria is going forward very aggressively and the year of 2010 looks extremely promising. Investors out there looking for a good buy opportunity could buy or add to their existing positions at current levels.

We will publish a detailed report on Victoria shortly in which we'll discuss Victoria's projects and potential in detail

Technical view:

Victoria shares jumped by 60%+ on the spectacular assay results of drill hole BH-2 (Santa Fe) in fall last year. Ever since Victoria has found solid support in the 62 - 65 cents range and encountered a few spikes into the high 70's range. Now with the encouraging results of drill hole BH-3 Victoria is likely to jump into new highs thereby breaching its slight 10 week down-trend to the upside.

How high Victoria's share price can go in the short term is anyone's guess but with the upcoming releases of their Eagle Gold pre-feasibility study and Cove Gold prelimininary economic assessment report combined with an accelerated drilling program at Santa Fe it isn't unlikely to see Victoria challenging its multi year high of $1.60 before summer of this year.

Best regards,

Eric Hommelberg
GoldDrivers.com Inc
www.golddrivers.com

The GoldDrivers Bullion Store