Four months ago Victoria Resources completed a 19,500,000 share private placement which was priced at .65 cents per share. Included in the private placement were warrants for 9,750,000 shares exercisable at .85 cents per share. The conditions of the private placement restricted any sale of the private placement shares for four months. That four month period has now ended, and what you are now seeing is profit taking by those who were fortunate enough to have participated in the private placement at such a low price. The idea here is that private placement participants can now take a profit and get back a good portion of their initial investment and still retain some of their shares + the right to exercise their warrants and acquire additional shares below current market prices. What is important is to recognize that for every share sold there has to be a buyer on the other side of the transaction. Private placement shares for sale today are a real gift for anyone interested in buying shares of this stock in large blocks without moving the stock higher. The fact that the shares are holding up well in the face of high volume, indicates to me that a lot of smart investors are taking advantage of VIT's current low price. The way I see it, everyone wins - private placement shareholders are given an opportunity to realize a profit on some of their holding without putting a lot of selling pressure on VIT's stock, while at the same time, will be able to benefit by any future appreciation on the shares retained and the warrants they still have. On the buy side, buyers are seizing the opportunity to accumulate substantial positions without moving the stock higher.

The fundamental position for VIT remains extremely positive - one need not reiterate all the positives for this company since they have been well publicized. Personally,

I am taking advantage of buying sizable blocks of this stock that has been offered up to the market.