Hi Chad,

What would really concern me is if Victoria Gold issues a lot more stock options for corporate insiders/or extends the expiration date on existing options. Doing the above would put Victoria Gold in the "moose pasture category" IMO.

What are your corporate plans in relation to stock options now that your stock is down approximately 75 - 80% from its highs?

Tom

Tom,

We have no plans to issue employee options at the current time. I don't think it's a good idea to ever modify the terms of options or warrants.

Note that we decided to defer issuing options for the very reasons you mentioned.

You understand that granting options -- at some point -- will be necessary to keep and incentivize our top employees

Chad