TORONTO, June 18, 2018 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (the “Company” or ‘Victoria) (TSX-V:VIT-V) is pleased to announce the addition of two experienced and respected mining professionals, Sean Roosen and Jacques Perron, to its Board of Directors representing our two new strategic investors, Osisko Royalties and Orion Resource Partners respectively.
“We are excited and fortunate to welcome two new high calibre directors to the Victoria Board. Both Sean and Jacques bring extensive mine building and operating experience which will serve Victoria well as we continue construction of the Eagle Gold Mine,” said Sean Harvey, Board Chair.
Mr. Sean Roosen is the Chair of the Board of Directors and Chief Executive Officer of Osisko Gold Royalties. Mr. Roosen was a founding member of Osisko Mining Corporation (2003) and of EurAsia Holding AG, a European venture capital fund. Mr. Roosen has over 30 years of progressive experience in the mining industry. As founder, President, Chief Executive Officer and Director of Osisko Mining Corporation, he was responsible for developing the strategic plan for the discovery, financing and development of the Canadian Malartic Mine. He also led the efforts for the maximization of shareholders’ value in the sale of Osisko Mining Corporation, which resulted in the creation of Osisko Gold Royalties. Mr. Roosen is an active participant in the resource sector and in the formation of new companies to explore for mineral deposits both in Canada and internationally.
Mr. Jacques Perron, has worked in the mining industry for more than 30 years and has extensive technical and operations experience. Mr. Perron was appointed as a director of Centerra Gold Inc. in October 2016. Most recently Mr. Perron was President, Chief Executive Officer and Director of Thompson Creek Metals Company Inc. Prior to joining Thompson Creek in 2013, Mr. Perron was President and Chief Executive Officer of St Andrew Goldfields Ltd. since 2007. Previous senior management positions included Senior Vice President of IAMGOLD Corporation from 2006 to 2007 and Vice President, Canada of Cambior Inc. from 2004 to 2006. From 1984 to 2004, Mr. Perron held a variety of increasingly senior management positions with Cameco Inc., Placer Dome Canada Limited, Breakwater Resources Ltd., Cambior Inc., JS Redpath Ltd. and Noranda Inc. Mr. Perron has also been a director of the Canadian Mineral Industry Education Foundation since 2007. Mr. Perron has a Bachelor of Science degree in Mining Engineering from l'École Polytechnique de Montréal.
Ms. Heather White has resigned from the Company’s Board of Directors. Ms. White represented Electrum Strategic Opportunities Fund and with our recent financing their interest fell below the ten percent threshold the Board felt appropriate to warrant board representation. Sean Harvey, Board Chair noted, “Heather has been an integral member of Victoria’s Board for the past two years as the Company continued its progression toward becoming a gold producer. We thank Heather for sharing her expertise, passion and professionalism and wish her well in her future endeavours.”
About the Dublin Gulch Property
Victoria Gold's 100%-owned Dublin Gulch gold property is situated in the central Yukon Territory, Canada, approximately 375 kilometres north of the capital city of Whitehorse, and approximately 85 kilometres from the village of Mayo. The Property is accessible by road year-round and is located within Yukon Energy's electrical grid.
The Property covers an area of approximately 555 square kilometres and is the site of the Company's Eagle Gold Deposit. The Eagle Gold Mine is expected to be Yukon's next operating gold mine and, between the Eagle and Olive deposits, include Proven and Probable Reserves of 2.7 million ounces of gold from 123 million tonnes of ore with a grade of 0.67 grams of gold per tonne, as outlined in a National Instrument 43-101 feasibility study. The NI 43-101 Mineral Resource for the Eagle and Olive deposits has been estimated to host 191 million tonnes averaging 0.65 grams of gold per tonne, containing 4.0 million ounces of gold in the "Measured and Indicated" category, inclusive of Proven and Probable Reserves, and a further 24 million tonnes averaging 0.61 grams of gold per tonne, containing 0.5 million ounces of gold in the "Inferred" category.
The technical content of this news release has been reviewed and approved by Tony George, P.Eng., as the Qualified Person. For additional information relating to the Property, refer to the technical report entitled "NI 43-101 Feasibility Study Technical Report for the Eagle Gold Project, Yukon Territory, Canada", with an effective date of September 12, 2016, which is available on the Company's profile at www.sedar.com.
Cautionary Language and Forward-Looking Statements
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.
For Further Information Contact:
President & CEO
Victoria Gold Corp