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The Company's Eagle Gold Project in Yukon Canada hosts a National Instrument 43-101 compliant Reserve of 2.3 million ounces of gold.

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Message: Frequency of Drilling Activity Press Releases - Don't Despair

Frequency of Drilling Activity Press Releases - Don't Despair

posted on May 26, 2008 06:12PM
Recently I have had some correspondence with Chad Williams (President) and Raul Madrid (Vice President of Exploration) regarding the frequency or lack there of, in press releases regarding Victoria's current drilling activity. Chad Williams stated that "VIT is more concerned with materiality as opposed to frequency of press releases". He also mentioned that VIT is currently exploring other means of communicating with the public regarding drilling activity and other corporate objectives. One of the ideas that is being thrown up, but is definitely not a certainty, is to have open forum blogging on Victoria's web site. If this were to come to pass, as I understand it - and my interpretation may be incorrect, the blogging would provide investors an opportunity to ask direct questions of management - thus keeping the investment community more up-to-date regarding Victoria's activity - without the expense and requirements that the SEC may have in doing a press release. Raul Madrid had the following comments regarding my questions regarding the frequency, or lack there of, press releases: "You should appreciate that the critical path for release of drilling results is not in the hands of us, but in the drills and the assay work that is needed. We will provide the news as soon as the data are available. If we had three rigs, all operating with double shifts on the property, we would be able to provide a more steady release of news. We do not, and we refuse to hire inexperienced drilling crews just to report progress; it is not cost-beneficial. We are being more and more careful about the drilling crews we hire. It is very costly to drill these deep holes and they take a long time. We acknowledge the tardiness of some of the drilling."
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