Victoria Gold Corp. (TSX-V: VIT) ("Victoria" or "The Company") is pleased to announce the appointment of Mr. Andrew Kaczmarek as the Company's new Chief Operating Officer (COO), effective March 15, 2012. Mr. Kaczmarek has over 35 years of diverse natural resource experience in project development, construction and operations, having held senior management positions with developing and producing companies including; Anatolia Minerals Development Limited (now Alacer Gold Corporation), Kinross Gold Corporation, Gabriel Resources Limited and Cyprus Amax Minerals.
"We are delighted that an individual with Andy's breadth of experience and knowledge has chosen to join Victoria", said John McConnell, President & CEO. "Andy had numerous opportunities and his choice of Victoria is a testament to the quality of Victoria's Eagle Gold Project".
In his most recent position as Vice President, Mine Development, Mr. Kaczmarek was successful in taking the Çöpler Gold Project, located in east-central Turkey, from scoping studies through to feasibility, environmental baseline studies, permitting, engineering, village relocation, construction, commissioning and production. Çöpler is a 15,500 tonnes per day open-pit gold mine including a three-stage crushing circuit, in-valley heap leach and an adsorption desorption gold recovery plant.
At Kinross, Mr. Kaczmarek successfully managed the engineering and construction work for the re-opening of the Maricunga Mine located in Northern Chile. This was a fast track project with construction commencing before all the engineering was completed. Maricunga is a high altitude, cold weather, 40,000 tonnes per day open-pit gold mine including a three-stage crushing circuit, in-valley heap leach and an adsorption desorption gold recovery plant. Mr. Kaczmarek holds a Bachelor of Science degree in Mining Engineering from the Royal School of Mines and completed Stermole's Investment and Economic Analysis Program at the Colorado School of Mines. He holds Canadian, British, and United States citizenship.
Victoria's 100% owned Dublin Gulch gold property is situated in 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 of approximately 650 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, inclusive of Probable Reserves, 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.
Victoria is a high growth gold company with a focus on adding value per share through efficient exploration, project development, accretive acquisitions and effective marketing. Maintaining a low risk profile through project diversification, sound financial management, and operating in secure jurisdictions are key priorities for Victoria's management team.
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, internal rate of return, estimated ore grades, 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 that 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.
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President & CEO
Victoria Gold Corp