Victoria Gold

Eagle Gold Mine Q1 2024 Operational Highlights

WHITEHORSE, Yukon, April 10, 2024 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) produced 29,580 ounces of gold during the first quarter of 2024.

Mr. John McConnell, President and CEO commented, “For the second consecutive year, we have stacked ore on the heap leach pad through the winter. While quarterly gold production is down year over year, the summer and fall seasons are our strongest operating periods and we expect to achieve 2024 gold production guidance of 165,000 to 185,000 ozs and cost guidance of US$1,450 to US$1,650 per oz of gold sold.”

Eagle Gold Mine Q1 2024 Operational Highlights:

		2023	2024
		Q1	Q1
Ore mined	millions of tonnes	2.1	2.0
Waste mined	millions of tonnes	3.1	2.9
Total mined	millions of tonnes	5.2	4.9
Strip Ratio	waste to ore	1.4	1.5
Mining rate	000’s of tonnes/day	58	54
Ore stacked on pad	millions of tonnes	2.1	2.0
Ore stacked grade	grams/tonne gold	0.86	0.63
Gold produced	ounces	37,619	29,580

Q1 statistics may be subject to immaterial reconciliation and rounding variances.

Tonnes of ore mined and stacked on the heap leach pad in Q1 2024 is in line with ore mined and stacked in Q1 2023. Gold production in Q1 2024 was lower year-over-year due to lower grades related to mine sequencing of the Eagle orebody, the timing of placing stacked tonnes under leach, and lower than planned stacking rates in Q4 2023. Both gold grade and metallurgical recovery continue to reconcile well against the Eagle reserve model.

Qualified Person
The technical content of this news release has been reviewed and approved by Paul D. Gray, P.Geo., as the “Qualified Person” as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About the Dublin Gulch Property
Victoria Gold's 100%-owned Dublin Gulch gold property (the “Property”) is situated in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 85 kilometers from the town of Mayo. The Property is accessible by road year round, and is located within Yukon Energy's electrical grid.