Victoria Gold Corp. provided an update on progress at its Eagle Gold Project. As recently announced on February 19, 2013, the Yukon Environmental and Socio-Economic Assessment Board has concluded its environmental assessment and issued a Final Screening Report. The Final Screening Report recommends that the Government of Canada and Yukon Government allow the Eagle Gold Project to proceed. On April 9, 2013 the Yukon government issued a announcement on the filing of the Decision Document for their approval and on April 16, 2013, the Federal Government similarly filed their respective Decision Document approving the project move forward. Completion of the decision documents allow Victoria to apply for the necessary licenses, namely: a Water License from the Yukon Water Board and a Quartz Mining License from the Department of Energy, Mines and Resources. M3 Engineering has been selected and retained to complete the detailed design work for the Eagle Gold project. M3 has relevant experience in the Yukon having recently completed a feasibility study for the Casino copper and gold project and has considerable experience on large mining projects such as Penasquito and Refugio. Detailed engineering started early in 2013 and remains underway with a current focus on heap leach design, site earthworks and civils and procurement of crushers and other site infrastructure. Non-equity project financing has progressed well. Management believes the project has the capacity for non-equity financing to make up a majority of the funding requirements to build Eagle. Debt discussions with respect to traditional project financing are well advanced. The potential syndicate of funding partners have performed site visits, received a technical review of the Eagle project from an independent engineer and started term sheet negotiations.

Yukon government has authorized Victoria Gold Corp. to move to the final stages of licensing for its Eagle Gold project. The government has approved the Yukon Environmental and Socio-economic Assessment Board (YESAB) executive committee's assessment and recommendation on the project, a proposed gold mine located northeast of Mayo and within the Traditional Territory of the Na-Cho Nyak Dun. The Yukon government supports and encourages responsible development. Victoria Gold submitted its Eagle Gold project to the YESAB executive committee in December 2010. Since the start of the environmental and socio-economic review process, the Yukon government and three federal decision bodies have been working alongside the First Nation of Na-Cho Nyak Dun to ensure issues are addressed along the way.

Victoria Gold Corp. Presents at John Tumazos Very Independent Research Metals & Mining Conference, Mar-28-2013 11:30 AM. Venue: The Westin New York Grand Central, 212 E 42nd St., New York, New York 10017, United States. Speakers: John Charles McConnell, Chief Executive Officer, President, Director and Member of Corporate Governance Committee.