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Victoria Receives Gold Assays from All Diamond Drill Holes of 2016 Olive-Shamrock Program

Victoria Gold Corp. "Victoria" or the "Company" is pleased to announce Shamrock Zone assay results from the Spring 2016 Olive-Shamrock Exploration Program.

Mr. John McConnell, President and CEO of Victoria commented; "The results from the Shamrock Zone are extremely encouraging. While it is still early days for the Shamrock target, we are pleased to confirm additional exploration upside in close proximity to the main Eagle deposit. On the back of a successful Phase I program, we are currently following up with an IP geophysics program along strike from the Olive/Shamrock Zone. The geophysics program will assist in delineation of further drill targets for a Phase II drill campaign late this summer."

2016 Olive-Shamrock Zone Assay Results

Gold assays from all diamond drill holes of the 2016 Olive-Shamrock program have now been received and released. Previous results released earlier this summer from the Olive Zone included 38.1m at 2.1 g/t Au, 144.5m at 1.2 g/t, 73.8m at 1.6 g/t gold and 167.5m at 0.92 g/t including 30.1m at 2.85 g/t gold. The analytical results for the Shamrock Zone diamond drill program are summarized in the table below:

Hole ID

From (m)

To (m)

Length (m)

Gold (g/t)

DG16-706C

15.2

80.8

65.5

0.51

including

33.5

49.3

15.7

1.51

DG16-707C

22.6

184.1

161.5

0.46

including

28.9

59.9

31

1.3

and including

156

171.6

15.6

1.46

DG16-708C

81.6

100

18.4

0.34

and

121.5

124

2.5

0.48

and

134.8

153

18.2

0.37

including

144

153

9

0.66

and

161.5

179.3

17.8

0.64

including

161.5

167.6

6.1

1.59

DG16-710C

27.1

55.7

28.5

0.98

including

48.3

55.7

7.4

1.61

and

118.3

150.9

32.6

0.28

including

118.3

122.9

4.6

1.05

DG16-711C

75.3

120.3

45

0.16

and

147.6

149.4

1.8

1.47

DG16-713C

3.1

69.8

68.7

0.33

including

3.1

8.9

5.9

0.86

and

14.4

22.4

8

0.69

and

34.4

37.7

2.7

1.79

DG16-714C

64.1

121.6

57.5

0.82

including

93.5

121.6

28.2

1.35

DG16-715C

38.5

125

86.4

0.67

including

38.5

97

58.4

0.95

or

38.5

80

41.5

1.23

DG16-716C

7.2

22.9

15.6

0.34

and

37.7

44.2

6.6

1.22

DG16-717C

105.8

146.3

40.5

0.27

including

135.4

146.3

10.9

0.57

DG16-718C

6.1

132.6

126.5

0.76

including

31.8

129.5

97.7

0.93

or

31.8

71.5

39.7

2.09

DG16-719C

3.2

155.5

152.3

0.62

including

3.2

40.5

37.3

1.87

and including

68.6

88.4

19.8

0.77

DG16-720C

85.3

137.2

51.8

0.49

including

96

108.6

12.6

1.16

DG16-721C

89.7

93.6

3.9

0.18

DG16-722C

15.5

78.8

63.3

0.69

including

54.9

78.8

23.9

1.12

DG16-723C

73.9

74.8

0.9

1.27

DG16-724C

6.1

114.3

108.2

0.52

including

13.7

69.1

55.4

0.92

or including

13.7

31.7

17.9

1.69

DG16-725C

58.9

60.9

2

0.9

DG16-726C

No Significant Values

DG16-727C

16.3

36.1

16.6

0.3

including

16.3

19.2

2.9

1.35

and

85.3

111.6

26.2

0.69

including

93.6

103

9.5

1.57

DG16-728C

81.2

96.4

15.2

0.72

including

81.2

88.7

7.45

1.2

Note: Reported intersections are drilled intersections, but are estimated at approximately two-thirds of true width of the mineralized zone.
As outlined in Company news release dated May 16, 2016, the first column leach test work for Shamrock completed by Kappes Cassidy & Associates ("KCA") resulted in a recovery of 88% gold at a crush size of P(100) 9.5mm and 83% gold recovery with a P(100) 75mm after only 43 days of leaching. Material for the column test was taken from a surface trench at Shamrock and represents oxide material. The high grades and superior recoveries identified at Shamrock underscore the potential for the addition of, near-surface, leachable gold mineralization at the Olive-Shamrock Zone.

The Olive-Shamrock 2016 exploration program was 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 and Shamrock drilling results, will be made available on the Company's website www.vitgoldcorp.com.

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. 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 Olive-Shamrock 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 confirmed near-surface, high-grade gold mineralization within the Olive-Shamrock shear zone trend and targeted the previously un-tested, 300m 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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