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Victoria Gold Corporation (TSX-V: VIT.V “Victoria” or the “Company”) is pleased to report additional impressive drill hole results from the ongoing gold exploration drilling program at its 100% owned Dublin Gulch property Yukon, Canada. Recently received assay results from drill holes at three targets – Steiner, Olive and Shamrock-at the Dublin Gulch property have highlighted several thick intervals of significant mineralization, and the presence of high grade mineralization at the Olive and Shamrock zones. Drilling assay highlights include:

  • Steiner:16.77 meters (m) averaging 2.11 grams Au per tonne (g/t gold) (contained in a broader zone that averages 1.37 g/t gold over a 28.95 m) (hole DG11-441C);
  • Olive: 15.16m averaging 3.64 g/t gold and21.91 m averaging 2.48 g/t gold (within a zone 35.05 m averaging 1.64 g/t gold) (hole DG11-445C); and
  • Shamrock: 3.05 m averaging 21.59 g/t gold (hole DG11-450C).

Mr. John McConnell, President and CEO of Victoria Gold commented “With several years of intensive exploration at Dublin Gulch we continue to discover substantial mineralization that will complement our proposed Eagle Gold Mine”.

This latest group of drill hole assays are from the ongoing diamond core and reverse circulation drilling program that the Company has been conducting since mid-March, 2011. All of the drill hole results contained within this news release are from “step-out” holes at Dublin Gulch exploration targets peripheral to the Eagle Gold Deposit, which is currently the subject of an ongoing Feasibility Study.

Steiner Zone

Steiner is directly adjacent to the Eagle Gold Deposit and with similar mineralization is a potential satellite pit to the proposed Eagle Gold Mine.

The results from the third hole completed at the Steiner zone, which is located northwest of the main portion of the Eagle Gold Deposit, further demonstrates continuity of strong gold mineralization on the southern side of the target zone, and where the limits of mineralization have not yet been discovered. The results complement those of adjoining holes DG11-429C and DG11-432C (see news release of August 12, 2011). The most recent drill results from Steiner are:

Hole No.From (m)To (m)Length (m)Grade (g Au/tonne)
DG11-441C58.2075.2917.090.32
and153.02181.9728.951.37
including165.20181.9716.772.11

* Apparent true width of mineralized zone is approximately 80% of intersection length.

Olive Zone

Assay results were received for six holes that were drilled in the south-central part of the Olive Zone, which is situated approximately three kilometers (km) northeast of the Eagle gold deposit, and within the Potato Hills Mineral Trend. Significant mineralization was encountered in several of the holes, with substantial mineralization intersected over appreciable widths in two separate zones in hole DG11-445C. The most recent drill results from Olive are:

Hole No.From (m)To (m)Length (m)Grade (g Au/tonne)
DG11-437C207.57209.091.520.96
DG11-438C27.7329.261.535.47
and65.84111.5645.720.40
including99.52111.5612.040.92
and120.70134.4013.700.60
DG11-443C80.4792.6612.190.78
DG11-445C55.7757.301.534.44
and83.2798.4315.163.64
and109.12144.4735.351.64
including119.21141.1221.912.48
DG11-448C60.0569.199.141.42
and119.48121.011.531.47

* Apparent true widths of holes DG11-438, 443 and 448 are 90%; the apparent true width of hole DG11-445 is 50% of the intersection length.
* DG11-440C did not cut significant mineralization.

Shamrock Zone

Significant mineralization was encountered in two of the eight holes completed to date in the Shamrock Zone, four km northeast of the Eagle Gold Deposit and one km east of the Olive. Like the adjoining Olive Zone, Shamrock is part of the Potato Hills Mineral Trend. The most recent drill results from Shamrock are:

Hole No.From (m)To (m)Length (m)Grade (g Au/tonne)
DG11-444R7.6210.673.053.13
and21.3422.861.521.50
and51.8256.394.577.70
DG11-447R0.009.149.140.96
DG11-449R22.8624.381.521.21
and39.6242.673.051.07
DG11-450C141.73144.783.0521.59
DG11-455C26.8232.926.105.03

* Apparent true widths of holes in the Shamrock target are 90% of the intersection length.
* DG11-446R, DG11-451C and DG11-452C did not cut significant mineralization.

About the Dublin Gulch Project

Victoria Gold’s 100%-owned Dublin Gulch gold property is situated in the central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 40 kilometers from the town of Mayo. The property is accessible by road year- round, and is located within Yukon Energy’s electrical grid. The Company has constructed a 100 person all-season camp at the project site.

The property covers an area in excess of 400 square kilometers, and is the site of the Company’s Eagle Gold Deposit, which has been estimated to host a NI 43-101 Compliant Mineral Resource of 222 million tonnes averaging 0.68 grams of gold per tonne, containing 4.86 million ounces of gold in the “Indicated” category and a further 78 million tonnes averaging 0.60 grams of gold per tonne, containing 1.49 million ounces of gold in the “Inferred” category.

Gold, silver and base metal mineralization are present at numerous localities within the Dublin Gulch property, in addition to the Eagle Gold Deposit. Reconnaissance-scale exploration programs are underway throughout the property area. Recently core drilling was conducted in the vicinity at the Olive, Shamrock, and Popeye prospects, which are situated within the prospective Potato Hills Mineral Trend that was discovered by Victoria during the 2010 exploration season. Additionally, early in September Victoria Gold will commence with a first- pass core drilling program at the newly reported Rex-Peso exploration target, which is situated along the western projection of the Potato Hills Mineral Trend. Overall the Dublin Gulch property and the Potato Hills Mineral Trend are the sites of a number of high quality and high priority exploration targets.

Quality Control/Quality Assurance and Assaying

Sample results cited in this news release were obtained from core and reverse circulation holes drilled by independent contractors under the direct supervision of Victoria Gold’s geologic staff. Samples were delivered to the Whitehorse, Yukon sample preparation facility of ALS Minerals,and the analytical determinations were performed by the staff of the North Vancouver, BC laboratory of ALS Minerals.

All of the samples collected from the drilling program are managed in strict compliance with the Company’s QA/QC (quality control/quality assurance) program, which has been reviewed and approved by a highly experienced geologist with an independent engineering firm.

The technical content of this news release has been reviewed as accurate by Ted Wilton, CPG- 7659, Vice President – Exploration for Victoria Gold Corporation, as the Qualified Person.

Cautionary Language and Forward-Looking Statements

Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, anticipated dates for the completion of work performed by external consultants, internal rate of return, estimated oregrades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.

This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.

For Further Information Contact:

Katie Fedorowicz, MBA
Investor Relations Coordinator
Victoria Gold Corp
Tel: 416-866-8800 Ext. 226
416-866-8801 (FAX)
kfedorowicz@vitgoldcorp.com
www.vitgoldcorp.com

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