Victoria Gold Completes Flow-Through Private Placement Financing to Drill High Priority Olive and Shamrock Targets

TORONTO, ON--(Marketwired - November 26, 2015) -

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Victoria Gold Corp. (TSX VENTURE: VIT) "Victoria" or the "Company" is pleased to announce that it has completed a non-brokered private placement (the "Financing") through the sale of 10,329,164 flow-through common shares (the "Flow-Through Common Shares") at a price of $0.17 per share to raise gross proceeds of approximately $1.75 million. The proceeds from the sale of the Flow-Through Common Shares will be used to explore and advance the Company's Dublin Gulch property, specifically, the Olive and Shamrock targets.

"This flow-through financing enables Victoria to continue to explore the high priority Olive and Shamrock targets while preserving the hard dollars in the Company treasury," said John McConnell, President & CEO. He further noted that, "This financing, Victoria's first since November 2011, offers a significant premium and minimal dilution to our shareholders."

The Company intends to use the proceeds of the Financing to fund a 2016 exploration program on the Olive and Shamrock targets at its Dublin Gulch project, Yukon, Canada. Olive lies 2 kilometers from the proposed infrastructure at the Eagle Gold project, along the Potato Hills Trend. Importantly, previous drilling and surface trench results at Olive indicate the existence of near-surface mineralization to potentially feed into Eagle operations (see news releases dated May 20, June 24, July 28, August 13, and Nov 4, 2014). Metallurgical testing completed in 2015 (see news releases dated February 24, and August 7, 2015) has shown that the Olive Zone is amenable to heap leaching.

The Shamrock target is contiguous to Olive and previous drilling and metallurgical sampling completed at Shamrock suggests grades and recoveries similar to those found at Olive.

The gross proceeds from the sale of the Flow-Through Common Shares will be used for Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada)), and the Company will use its best efforts to ensure that such Canadian Exploration Expenses qualify as a "flow-through mining expenditure", for purposes of the Income Tax Act (Canada), related to the exploration of the Company's exploration projects. The Company will renounce such Canadian Exploration Expenses with an effective date no later than December 31, 2015.