Toronto, ON / May 13, 2024 / Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) herein provides
its first quarter 2024 summary financial and operating results.
Highlights First Quarter
Gold produced (ounces) 29,580
Average gold price realized (per ounce) C$ 2,724
Revenue (000s) C$ 82,982
Gross profit (000s) C$ 8,977
Loss before taxes (000s) C$ 12,149
Net loss (000s) C$ 8,971
Net loss per share – Basic C$ 0.13
Adjusted net income (000s)* C$ 3,631
Adjusted net income per share – Basic C$ 0.05
EBITDA (000s) C$ 12,217
Operating cash flow before working capital (000s) C$ 23,712
Operating cash flow after working capital (000s) C$ 30,019
Free cash flow before working capital (000s) C$ 7,122
Free cash flow after working capital (000s) C$ 13,429
*Adjusted net income is Net loss less Loss on marketable securities, Loss from equity investment, Loss on derivatives and Foreign exchange loss

Mr. John McConnell, President and CEO commented, “While gold production during the first quarter was
lower than target, we still managed to generate positive free cash flow before and after working capital
adjustments. Higher gold grade and stacked ore tonnage are expected to lead to elevated gold production,
revenues, profits and cash flows through the remainder of 2024.”
The Company will host a video conference call on Tuesday, May 14th at 7:00am PST (10:00am EST) to
discuss the first quarter ended March 31, 2024 consolidated results (call-in details are provided at the end
of this news release).
This release should be read in conjunction with the Company’s Financial Statements and Management’s
Discussion and Analysis (“MD&A”) for the three months ended March 31, 2024 and 2023, available on the
Company’s website or on Sedar+.
Operational highlights – First Quarter 2024
• Mine production was 1.9 million tonnes (“t”) of ore in the quarter.
• Ore stacked on the heap leach facility (“HLF”) in the quarter was 2.0 million t at an average
grade of 0.63 grams per tonne (“g/t”).
• Gold production was 29,580 ounces (“oz”) in the quarter.
Financial highlights – First Quarter 2024
• Gold sold in the quarter was 30,491 oz, at an average realized price1 of $2,724 (US$2,019) per
oz.
• Recognized revenue was $83.0 million based on sales of 30,491 oz of gold in the quarter.
• Operating earnings were $5.9 million in the quarter.
• Loss before tax was $12.1 million in the quarter.

see & read more on
https://vgcx.com/site/assets/files/7649/vgcx_reports_2024_first_quarter_results_prv3.pdf