Victoria Acquires High-Grade Gold, Carlin-type, Summit Property in Central Nevada

Victoria Resource Corporation (TSX VENTURE: VIT) ("Victoria" or the "Company"), is pleased to announce it has acquired 100% of the high grade Summit gold property in Nye County, Nevada from a private company named Taminco Inc. The property is located within a large, NW-trending belt of gold bearing structures and consists of a core group of 26 unpatented mining claims surrounded by 245 unpatented mining claims. The Summit Mine produced 8,800 ounces at a grade of 8.23 grams per tonne ("g/t") gold in a small open-pit in the late 1980's.

Many high-grade intercepts of gold were encountered in previous drilling campaigns (Table 1). The drilling occurred along the NW margin of a tectonic window in which pre-volcanic carbonate rocks are exposed below mostly post-mineral volcanic rocks. The carbonate rocks host Carlin-type mineralization and previous drilling indicates that the NW-striking Carlin-type gold mineralization extends under post-mineral volcanics and is open in all directions.


Table 1: Selected High-grade intercepts from reverse circulation
drilling at the Summit Property
----------------------------------------------------
           From        To    Intercept          Gold
Hole #  (metres)  (metres)  (metres)            (g/t)
----------------------------------------------------
4           3.0      30.5    27.4(i)           10.38
----------------------------------------------------
4           3.0      16.8    includes 13.7     20.61
----------------------------------------------------
7           0.0      48.8    48.8(i)            4.03
----------------------------------------------------
7          24.4      38.1    includes 13.7     10.65
----------------------------------------------------
8.2        35.1      42.7    7.6                8.77
----------------------------------------------------
21         86.9     121.9    32.0(i)            5.49
----------------------------------------------------
21         88.4      99.1    includes 10.7      6.99
----------------------------------------------------
21        102.1     111.3    also includes 9.1  9.66
----------------------------------------------------
24        100.6     106.7    6.1                6.82
----------------------------------------------------
51          1.5       6.1    4.6                8.66
----------------------------------------------------
53          1.5       9.1    7.6               11.71
----------------------------------------------------
54         12.2      15.2    3.0               38.39
----------------------------------------------------
58          7.6      19.8    12.2              14.35
----------------------------------------------------
59          9.1      21.3    12.2              10.47
----------------------------------------------------
62          9.1      24.4    15.2               8.85
----------------------------------------------------
64          0.0       7.6    7.6               12.02
----------------------------------------------------
66          1.5      10.7    9.1               15.86
----------------------------------------------------
68          3.0      32.0    29.0(i)           15.15
----------------------------------------------------
68          3.0      15.2    includes 12.2     34.57
----------------------------------------------------
69          3.0      18.3    15.2(i)            9.62
----------------------------------------------------
69          3.0      12.2    includes 9.1      11.22
----------------------------------------------------
70          4.6      16.8    12.2(i)            7.77
----------------------------------------------------
70          9.1      13.7    includes 4.6      12.42
----------------------------------------------------
71          9.1      13.7    4.6               16.16
----------------------------------------------------
74         21.3      32.0    10.7(i)            9.84
----------------------------------------------------
74         21.3      27.4    includes 6.1      14.23
----------------------------------------------------
92-2       33.5      38.1    4.6               42.67
----------------------------------------------------
92-3       29.0      32.0    3.0               27.47
----------------------------------------------------
Cut-off grade on high-grade intercepts is 3.429 g/t: (i) equals cut off
grade at 0.514 g/t.

Victoria's due diligence mapping and sampling program thus far indicates that gold-related structures occur over a minimum structural width of 1,188.7 metres with gold-mineralized, hydrothermal dolomite occurring within that entire width. Additional old prospects and associated structures widen this to a minimum of 1,798.3 metres, with a significant strike length. The hydrothermal dolomite has replaced limestone over large areas. Overlying volcanics obscure the total length and width of the gold system. The high grade intercepts in previous holes (table above) range in depth from surface to as deep as 121.9 metres, but most were in the range of 3 to 91.4 metres deep, with the deepest hole at 213.4 metres. As a result, gold mineralization is open in all directions as many previous holes end in alteration and/or gold mineralization. Due diligence sampling of outcrop and small dumps support the grades encountered by drilling.

The property has been acquired under an Option-Purchase agreement. After signing, the Company has paid $25,000 to enter into the option portion of the agreement for a period of 3 months with up to 3 months of extensions for $5,000 each month. At the end of the option portion of the agreement, the Company must decide whether to purchase the property. The purchase price is dependent on and will be adjusted by the then, current gold price, but will not be less than $500,000. For example, at an average gold price of $635 per ounce, the lump purchase price would be $635,000. At the Company's election, the payment can be made as a lump sum or split into yearly payments over a five-year period. The first payment is split into a $50,000 payment after 30 days of the decision to purchase the property and a second payment of $50,000 at the first anniversary of the purchase agreement. Thereafter, all yearly purchase payments in the remaining 4 years will be $100,000. If the average gold price is $670 per ounce when one of the minimum payments of $100,000 is to be made, the payment would be $134,000. All purchase payments will be subject to the then prevailing gold price and will be adjusted accordingly at the time they are paid. The property will also be subject to a 3.5% Net Smelter Royalty with Advanced Royalty payments paid as a function of then current gold prices on a monthly basis, starting with and escalating by 12 ounces of gold per year until production. An Area of Influence of 1 mile from the 26 core unpatented mining claims is included. The Company also paid $15,000 for the purchase of water rights to provide water for drilling and other exploration activities.

The shallow drilling in previous programs, together with the width and length of the gold system indicates an excellent potential for defining larger gold targets for further exploration diamond core-drilling, which will begin as soon as the snow melts in the spring. Structural mapping will precede the drilling to establish the shallowest targets and deeper convergence zones.

Victoria also announces that it has acquired 439 additional unpatented mining claims (100% Victoria) around its claim holdings at Cove-McCoy. At its Relief Canyon project, it has staked an additional 474 unpatented mining claims to expand its property position beyond the core group of claims it has published previously.

Victoria is a 29.7% owned affiliate of Bema Gold Corporation (TSX: BGO)(NYSE: BGO)(AIM: BAU). The qualified person for Victoria under National Instrument 43-101 is Tom Garagan, P.Geo. Raul Madrid is responsible for on site field activities. All dollar figures are in United States dollars unless otherwise indicated.

On Behalf of VICTORIA RESOURCE CORPORATION

Roger T. Richer, President and Director

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.



The TSX Venture Exchange neither approves nor disapproves the information contained in this News Release.


Contacts:
Victoria Resource Corporation
Ian MacLean
Vice President, Investor Relations
(604) 681-8371

Victoria Resource Corporation
Kerry Suffolk
Manager, Investor Relations
(604) 681-8371
Email: investor@victoriaresource.com
Website: www.victoriaresource.com

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