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Victoria Announces Next Batch Results from 2016 Olive-Shamrock Diamond Drilling Program

Victoria Gold Corp. "Victoria" or the "Company" is pleased to announce the next batch of results from the 2016 Olive-Shamrock diamond drilling program.

Mr. John McConnell, President and CEO of Victoria commented; "Olive drilling results for the 2016 Exploration Program are tracking well and nearly complete. This is an important milestone as we are now in a position to develop a Resource Estimate for Olive that will feed into the Feasibility Study Update currently underway for Eagle".

2016 Olive-Shamrock Zone Assay Results

Gold assays from 54 of 89 diamond drill holes of the 2016 program at Olive-Shamrock have been received to date. Results from the previous set of assays including 45.8m at 2.48 g/t and 46.7m at 1.45 g/t gold were outlined in the news release dated June 3, 2016. The assay results for the 12 holes released herein are predominantly step out drilling along strike from Olive Main towards the Shamrock Zone, and are summarized in the table below:

Hole ID From (m) To (m) Length (m) Gold (g/t)
DG16-682C 116.2 184.4 68.2 0.44
including 116.2 131.1 14.8 0.62
and including 164.5 184.4 19.9 0.66
DG16-686C 50.3 85.4 35.1 1.75
including 67.6 84.0 16.4 2.87
DG16-687C 123.2 141.8 18.6 2.00
including 137.4 141.8 4.4 7.32
DG16-688C 9.1 39.6 30.5 0.49
including 9.1 21.4 12.2 1.09
DG16-690C 37.4 51.3 13.9 0.29
and 112.5 125.5 13.0 0.35
DG16-691C 13.3 34.2 20.9 0.72
including 18.5 30.0 11.5 1.19
and 123.5 143.8 20.3 0.46
including 125.7 141.2 15.5 0.57
DG16-694C 47.4 133.3 85.9 0.35
including 63.4 81.7 18.3 1.04
and including 120.6 133.3 12.7 0.32
DG16-695C 3.5 9.6 6.1 0.96
DG16-696C 78.0 179.6 101.6 0.30
including 155.5 167.5 12.1 1.09
DG16-697C 61.8 70.3 8.5 0.20
DG16-699C No Significant Values
DG16-700C 37.9 144.0 106.1 0.94
including 47.2 106.0 58.7 1.21
and including 116.2 133.1 16.9 1.26

Note: Reported intersections are drilled intersections, but are estimated at approximately two-thirds of true width of the mineralized zone.

The Olive-Shamrock 2016 exploration program is designed to increase confidence in a potential gold resource estimate and expand the Olive-Shamrock Zone along strike and across the interpreted mineralization controlling structure. Currently, the Olive-Shamrock Zone has been tested over a strike length of 1.5 kilometres and approximately 300 metres in width, with the main focus of 2016 drilling concentrated within an area of approximately 500 metres by 300 metres.

An updated plan map and drill sections relating to the assay results presented above, as well as a summary table of the 2016 Olive drilling results, will be made available on the Company's website

Analytical Method

All exploration drill core from the Olive-Shamrock 2016 program was analyzed at SGS Canada Inc. of Burnaby, B.C. utilizing the GE-ICP40B, 34-element analytical package with FAA5515 50- gram Fire Assay with Gravimetric finish for gold on all samples. All core samples were split on- site at Victoria's Eagle camp and shipped to SGS Canada Inc.'s mobile sample preparation laboratory that has been set-up on-site, at the Eagle Gold Project or directly to SGS Canada's Burnaby laboratory. There, samples were sorted and crushed to appropriate particle size (coarse crush) and representatively split to a smaller size (250 grams) for shipment to SGS Canada Inc.'s Burnaby analytical laboratory facilities. A comprehensive system of standards, blanks and field duplicates has been implemented for the 2016 Olive-Shamrock drilling program and is monitored as chemical assay data become available.

2016 Olive-Shamrock Exploration Program

The Olive-Shamrock Zone is a near-surface mineralized target situated approximately 2 kilometers from the fully-permitted Eagle Gold project and has the potential to enhance Eagle Project economics by virtue of additional higher-grade ore; increased flexibility in mine planning and lowering capital intensity from shared infrastructure.

The $3.6 million Olive-Shamrock definition and exploration program began in March 2016. The program will consist of diamond drilling, surface trenching and geophysical surveys over the Olive-Shamrock zone with a focus on the previously undrilled areas linking Olive and Shamrock mineralization. The exploration program will concentrate on expanding the strike length of confirmed near-surface, high-grade gold mineralization within the Olive-Shamrock shear zone trend and target the previously un-tested, 300 m separation zone between the Olive and Shamrock mineralization. The program is designed to result in the maiden Resource Estimate for the Olive-Shamrock Zone.



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