Hi Chad,

You recently indicated that Victoria plans to monetize the Guyanese property that you acquired from your merger with Strata Gold. Am I correct in assuming that monetize in this case means that you plan on selling this property and converting it into cash that can be used to accelerate you development plans for Eagle and Cove? If so, do you have any idea of what the Guyanese property would fetch in today's market?

When you announce your drilling results at Cove, do you anticipate on giving some clarity as to what property or properties you will be drilling on this year? I am interested in knowing how much capital you have budgeted this year for drilling, when will the drilling start, and specifically the timeline we are looking at. It appears to me that it may be months before you complete any new pre feasibility studies on our Eagle property as well as any permitting approval for an adit at Cove. Without any drilling news to look forward to, the market price of VIT is unlikely to explode to the upside unless gold bullion really takes off to the upside.

Tom

Hi Tom,

We will seek to maximize the value of those properties in Guyana in any way possible which may include a sale, JV, or royalty. The price is yet to be determined.

Yes, we will provide guidance on next steps at Cove and drilling of other properties shortly. The board approved a budget of $2.5 mm in exploration in 2009 (press released in January); we have spent just over $500,000 so far (my guesstimate) so the activity is really back-end loaded in 2009. Our next drilling target is Santa Fe. We fully understand the need to keep generating -- hopefully positive -- exploration news! We have a very promising suite of properties and there's no problem finding good targets to drill. In fact, the "problem" is to prioritize those targets.

Chad