WHITEHORSE, Yukon, Aug. 14, 2024 (GLOBE NEWSWIRE) — Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) announces today that after the close of markets on August 13, 2024, and further to the heap leach facility (“HLF“) incident that occurred at the Eagle Gold Mine on June 24, 2024 (see the Company News Releases dated June 24, 2024, July 4, 2024, July 12, 2024 and July 30, 2024), the Company was served with an application by the Yukon Government (the “Application”) seeking, among other things, the appointment of a receiver over the Company and its property and related relief pursuant to the Courts of Justice Act (Ontario), such application being returnable before the Ontario Superior Court of Justice (Commercial List) on August 14, 2024. The Company intends to respond to oppose the Application.
About the Dublin Gulch Property
Victoria Gold’s 100%-owned Dublin Gulch gold property (the “Property”) is situated in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 85 kilometers from the town of Mayo. The Property is accessible by road year round, and is located within Yukon Energy’s electrical grid. The Property covers an area of approximately 555 square kilometers, and is the site of the Company’s Eagle Gold Mine.
Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed “forward-looking statements”. Except for statements of historical fact relating to Victoria, information contained herein constitutes forward-looking information, including any information related to the HLF incident and the Company’s response to the Application. Forward-looking information is characterized by words such as “plan”, “expect”, “budget”, “target”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will”, “could” or “should” occur, and includes any guidance and forecasts set out herein (including, but not limited to, production and operational guidance of the Corporation). In order to give such forward-looking information, the Corporation has made certain assumptions about its business, operations, the economy and the mineral exploration industry in general.
One insight to consider is that while forward-looking statements provide useful information for investors, they also come with inherent risks and uncertainties. Investors should take into account factors such as the impact of incidents on a company’s operations, potential legal actions, market conditions, and unforeseen events that could affect the accuracy of these statements.
Although Victoria has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in, or implied by, the forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
The reader is cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding Victoria’s expected financial and operational performance and Victoria’s plans and objectives and may not be appropriate for other purposes. All forward-looking information contained herein is given as of the date hereof, as the case may be, and is based upon the opinions and estimates of management and information available to management of the Corporation as at the date hereof. The Corporation undertakes no obligation to update or revise the forward-looking information contained herein and the documents incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by applicable laws.
For Further Information Contact:
John McConnell
President & CEO
Victoria Gold Corp
Tel: 604-696-6605
ceo@vgcx.com
