WHITEHORSE, Yukon, July 30, 2023 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) announces that as a result of wildfire activity in the area of the Eagle Gold mine, the operation has been partially evacuated.

Mr. John McConnell, President and CEO commented, “The safety of our employees is our highest priority. As a result of wildfire activity proximal to Eagle and in consultation with the Yukon Wildland Fire Management team, we made the precautionary decision to evacuate non-essential employees. A volunteer contingent of employees remains staged nearby the mine site to operate and maintain critical operational assets. We would like to thank the Yukon Wildland Fire Management for their assistance during this time and their continued efforts to manage and respond to wildfire activity in the territory.”

On the evening of July 29, a partial evacuation of the Eagle Gold mine commenced and was successfully and safely completed on July 30. Employees who have voluntarily remained on location will continue to run heap leach pumping activities. Mining and stacking operations have been suspended.

The East McQuesten fire is currently approximately 4 kilometers from the Eagle Gold mine and is being actively managed by the Yukon Wildland Fire Management response team. Victoria has provided certain heavy equipment to assist the fire response effort. In accordance with the Company’s Emergency Response Plan, measures have been taken to protect infrastructure at Eagle. The Company will provide additional updates in due course.

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.

The Property covers an area of approximately 555 square kilometers, and is the site of the Company's Eagle and Olive Gold Deposits. The Eagle Gold Mine is Yukon's newest operating gold mine. The Eagle and Olive deposits include Proven and Probable Reserves of 3.3 million ounces of gold from 155 million tonnes of ore with a grade of 0.65 grams of gold per tonne, as outlined in a National Instrument 43-101 Technical Report for the Eagle Gold Mine dated December 3, 2019. The Mineral Resource under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) for the Eagle and Olive deposits has been estimated to host 227 million tonnes averaging 0.67 grams of gold per tonne, containing 4.7 million ounces of gold in the "Measured and Indicated" category, inclusive of Proven and Probable Reserves, and a further 28 million tonnes averaging 0.65 grams of gold per tonne, containing 0.6 million ounces of gold in the "Inferred" category.

Cautionary Language and Forward-Looking Statements
see & read more on
https://www.globenewswire.com/news-release/2023/07/31/2714537/0/en/Victoria-Gold-Operational-Update.html