Whitehorse, YT / October 4, 2023 / Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) produced
41,561 ounces of gold during the period July 1 to September 30, 2023, the third quarter (“Q3”) of 2023. Yearto-date 2023 gold production is 124,749 ounces.
Eagle Gold Mine Q3 2023 Production Results
3 rd Quarter 2023 3 rd Quarter 2022 9 Months 2023 9 Months 2022
Operating Data
Ore mined millions of tonnes 2.1 2.1 6.6 5.6
Waste mined millions of tonnes 2.8 3.0 8.0 7.5
Total mined millions of tonnes 4.9 5.1 14.6 13.1
Strip ratio waste to ore 1.3 1.5 1.2 1.3
Mining rate 000’s of tonnes/day 53 56 53 48
Ore stacked on pad millions of tonnes 2.3 2.1 6.9 5.3
Ore stacked grade grams/tonne Au 0.65 0.89 0.75 0.84
Gold produced ounces 41,561 50,028 124,749 106,441
Q3 2023 statistics may be subject to immaterial reconciliation variances.
Gold production was up by 17% in the first 9-months of 2023 compared to the same period in 2022 while Q3
production decreased 17% year-over-year. Both the quarterly decrease year-over-year and the 9-month yearto-date increase are due to a reduction in seasonality as a result of year-round ore stacking on the heap leach
pad, a more even distribution of planned maintenance throughout the year and a growing heap leach pad
which moderates quarter over quarter gold production. The quarter-over-quarter decrease in grade is due to
mine sequencing. Ore and waste mined, ore stacked on the heap leach pad and gold produced were all
negatively impacted during the 3rd quarter of 2023 by an approximate 2 week evacuation in early August due to wildfire activity. see & read more on
https://vgcx.com/site/assets/files/7153/nr_q3_prodn_2023_final.pdf