target="_blank">database by their consultants. Unfortunately, the error was caught after it was published. It was a bit embarrassing, but we are not too concerned.

We think there's an opportunity because the drilling at the Cove Project in Nevada was never tight enough to suggest that we had a great understanding of the mineralized system at depth. Victoria really had only enough information to justify constructing an exploration ramp. Victoria Gold's plan of operations has been approved by the Bureau of Land Management. Consequently, the company is now in the short strokes of finalizing their required permits before driving the ramp in the first quarter of this year, with the hope of getting first pre-production by the third quarter.

In addition to that, there is Victoria's Eagle Project in the Yukon. The prefeasibility study on Eagle was less than well received, but what most people don't realize is that the pit walls were designed using a 30-degree slope. The rock qualities have since been tested and may justify using a pit slope of 40 or maybe even 50 degrees. Under that scenario, significantly more mineralization would fall in the pit design, and that would have a huge positive impact on the project's internal

Paolo Lostritto: It will take roughly six months to get there, and the company will do two things once it gets underground. One, it will conduct advanced exploration drilling in order to understand the deposit dimensions and ideally expand the resource. Secondly, it will be able to "teaspoon" some of that material, roughly 400 tons per day, and ship it to one of the local smelters. There are three smelters in the area; one is owned by Barrick Gold Corporation (NYSE:ABX; TSX:ABX), one by