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Victoria Announces 2016 Olive Zone Surface Trench Exploration Program Results

"Victoria" or the "Company" is pleased to announce results from the 2016 Olive Zone surface trench exploration program. The Olive trenches were designed to complement and support the in-fill and step-out diamond drill exploration program.

The results outlined herein further validate the Olive geological model through the demonstration of mineralized surface expressions. These results will be included in a Resource Estimate of the Olive Zone to be incorporated in the Updated Feasibility Study. Results from the Shamrock Zone diamond drilling program are still pending and are expected to be released over the coming month.

Mr. John McConnell, President and CEO of Victoria commented: "The numerous, impressive high-grade intercepts remind us why the old-timers spent so much time and effort in the Olive area. These trenches demonstrate that the Olive Zone daylights throughout the deposit and the exposure of in-place Olive mineralization provides critical geological control information."

2016 Olive Trench Results

In total, 33 trenches consisting of 965 meters were tested by 500 assay samples during the 2016 Olive Trench campaign. The trench results summarized below represent a combination of targeted trenches constructed across the Olive Zone to fill in areas crucial to the Olive Resource Estimate, trenches built parallel to access trails where bedrock exposure was evident and exploration trenches testing previously undrilled areas parallel to the Olive Shear Zone.

Olive trenches once again proved effective with respect to definition of surface mineralization within the Olive shear zone and support that the mineralization defined at depth extends to surface along the strike of the Olive Zone.

Highlights from the Olive Trench campaign include OLTR-16-10; 49.0m of 1.28 g/t Au from 0 to 49.0m, OLTR-16-14; 14.0m of 9.08 g/t Au from 0 to 14m; and OLTR-16-25 with 52.0 m of 4.41 g/t Au from 0 to 52.0m.

Table 1: Selected Results -- Olive 2016 Trench Program

Trench ID

From (m)

To (m)

Length (m)

Gold (g/t)

OLTR-16-04

3

13

10

0.9

OLTR-16-05

2

27.5

23.5

0.49

including

18

27.5

7.5

1.07

OLTR-16-09

4

11

7

0.8

OLTR-16-10

0

49

49

1.28

including

15

47

32

1.87

OLTR-16-11

4

28

19

0.31

OLTR-16-12

24

42

18

1.52

OLTR-16-14

0

14

14

9.08

including

6

14

8

15.62

OLTR-16-15

18

29

6

0.38

OLTR-16-18

0

22

22

0.42

including

16

18

2

3.87

OLTR-16-19

0

6

6

1.19

including

2

4

2

2.67

OLTR-16-20

0

68

60

0.21

including

6

14

8

1.36

OLTR-16-21

0

4

4

0.32

OLTR-16-25

0

52

52

4.41

including

36

52

16

13.52

OLTR-16-26

0

22

22

0.5

including

8

18

10

0.87

OLTR-16-28

0

112

106

0.12

including

66

86

20

0.42

OLTR-16-31

8

22

14

0.82

Note -- The highlighted intervals presented in the above table represent the total length for all samples collected from each trench, and as with Olive diamond drill intersections, are estimated at approximately two-thirds of true widths of mineralized zones. In certain trenches, it was not possible to sample consistently across the entire trench lengths (due to the lack of sampleable material) and total trench lengths are reported in these instances.

The Olive trench program was designed to increase confidence in a potential gold resource estimate and expand the Olive 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 relating to the trench assay results presented above, a summary table of the 2016 Olive drilling results and a series of trench photos will be made available on the Company's website www.vitgoldcorp.com.

Analytical Method
All exploration trench samples 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 trench samples were shipped to SGS Canada Inc.'s laboratory in Burnaby, B.C. There, samples were sorted and crushed to appropriate particle size (coarse crush) and representatively split to a smaller size whereon analyses were performed. A comprehensive system of standards, blanks and field duplicates has been implemented for the 2016 Olive-Shamrock trench 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. Should a mineral reserve be delineated, there is 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 program consisted 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 concentrated on expanding the strike length of near-surface, high-grade gold mineralization within the Olive-Shamrock shear zone trend and targeted the previously un-tested, 300 m separation zone between the Olive and Shamrock mineralization. The program was designed to result in the maiden Resource Estimate for the Olive Zone.

Source: http://www.vitgoldcorp.com/

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