Victoria's Newly Elected Board Adds Considerable Development and Operations Experience
TORONTO, ONATRIO -- (Marketwire) -- 08/22/11 -- Victoria Gold Corp. (TSX VENTURE: VIT) ('Victoria' or the 'Company') held its Annual General Meeting last week in Whitehorse, Yukon Territory. All resolutions put forth by management were approved by shareholders. This includes the election of T. Sean Harvey, John McConnell, Hugh Agro, Edward Dowling, Christopher Hill, Leendert Krol and Michael McInnis to the board of directors.
John McConnell, CEO, President and director commented, 'Our board's extensive, combined experience in geology, finance, mine development and operations will serve Victoria well as we continue to explore in Nevada and Yukon and advance the Eagle Gold Deposit toward production.'
Returning directors, Sean, John, Hugh, Len and Mike would like to welcome Ed and Chris as new members to the board. Ed has been the Chief Executive Officer, President and director of Alacer Gold Corp since the formation of Alacer through the merger of Anatolia Mineral Development and Avoca Resources Limited in February 2011. Prior to this, Ed held the same role at Anatolia since April 2008. From January 2007 through early 2008 Ed served as Chief Executive Officer, President and director of Meridian Gold Inc. Additional leadership roles have included: De Beers, Johannesburg, South Africa, as Executive Director, Mining and Exploration; Cleveland-Cliffs, as Executive Vice-President - Operations; and Cyprus Amax Minerals Company, in various leadership capacities. Chris has been Treasurer at Aecon, Canada's largest public construction and infrastructure development company, since March 2011. Chris undertook varying senior roles at Kinross Gold Corporation ('Kinross') from 1998 through 2010. Chris started at Kinross as Vice President, Treasurer then was appointed Senior Vice President, Corporate Communications & Vice President Investor Relations in 2004 and finally moved to Senior Vice President, Treasurer in 2006. Prior to Kinross, Chris spent time in the treasury department of Barrick Gold Corporation and was a trader for Lac Minerals and the Bank of Nova Scotia.
Sean Harvey, director and Chairman of the Board serves on the boards of numerous mining and exploration companies and previously held the role of CEO at Orvana Minerals Corp. and TVX Gold Inc. John McConnell, CEO, President and director was CEO of Western Keltic Mines Inc. prior to their sale to Sherwood Copper in 2008 and previous to that was VP, NWT Projects at De Beers Canada Mining Inc. Hugh Agro serves on the boards of various mining ventures and was Executive VP, Strategic Development at Kinross Gold Corp. from 2005 to 2009. Len Krol serves on the boards of Romarco Minerals Inc. and TriStar Gold Inc. and was VP Exploration at Newmont Mining Corporation from 1994 through 2001. Mike McInnis also serves on the boards of numerous exploration companies and is the CEO, President and director of Riverstone Resources Inc.
The Board of Directors of Victoria Gold Corp. has granted 675,000 options to employees and directors of the Company, in each case under the stock option plan of the Company which was approved by shareholders on August 18, 2011. The options will vest over an 18-month period, have an exercise price of $0.65 and are exercisable for a period of five years from the date of the grant thereof.
About Victoria
Victoria Gold Corp. is a Canadian based gold exploration and development company focused on advancing its flagship project, the Eagle Gold Deposit, located on the 100% owned Dublin Gulch property in the Yukon, Canada, to production. The company also continues to explore its other core projects in Yukon and Nevada. For more information please visit the company's website at www.vitgoldcorp.com.
Cautionary Language and Forward-Looking Statements
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, anticipated dates for the completion of work performed by external consultants, 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.
This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.
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Contacts:
Victoria Gold Corp.
Katie Fedorowicz, MBA
Investor Relations
416-866-8800 Ext. 226
416-866-8801 (FAX)
kfedorowicz@vitgoldcorp.com
www.vitgoldcorp.com