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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: Additional Phoenix

Additional Phoenix

posted on Feb 14, 2008 11:13AM

Phoenix was a great opportunity to meet Chad, Raul, Marcus and Linda.

This was the first show in Phoenix for Cambridge and I am not sure how aggressively they marketed it but it was sparsely attended. Is this because gold and commodities are so far off the radar still? Compared to Vancouver there were less booths and an inferior speaker line up. it was night and day.

This worked out PERFECTLY for both the crew from Victoria on what was basically their first retail exposure. As for me, Jessica and the three delightful sharp and fun Dutch representation, it was an awesome chance. Other then the attractive female representation of Linda, Jessica and Jolijna it was 90%+ 50+ year old white males. This sector is far from main stream awareness which is seriously positive in us being WAY early to the GOLD party. we probably have a long way to go in this bull run of gold and juniors so hidden and undiscovered.

The first day all five of us retailers were able to sit down and talk for multiple hours to both Chad and Raul in comfy leather chairs. Both of them completely open to discuss all aspects of the company as roos has detailed. Post conference hours, great food and drink were enjoyed by all with plenty of NON Gold related discussions. Our group was wildly diversified with global and life experience. it was highly animated and positive. Sunday afternoon was another, albeit briefer, question session with Raul.

I will recap the major points that are company related but don't want to try and repeat every subtle nuisance and utterance from what was a friendly open safe feeling environment so that future meetings and discussions continue to be as warm and flowing. This was more then just hardline business. Even though the retail sector, us, is such a small portion of the overall share spread they were completely welcoming in a genuine way. it felt real.

- I was under the impression that many of the Dutch were tapped into gold and onto juniors etc. Although it appears they may be more in touch then Americans, the Dutch in attendance mention that like me and us, they are the exception not the rule....that plenty around them look at their gold discussion and investment with a glaze in their eyes.

-on average a hole takes one month to drill and assay results come back in 1-4 weeks depending on lab work load

- drilling this deep requires almost inhuman accuracy and occasionally it is not perfect. On black canyon they were aware it would be an early and hard coming winter, trying with exuberance to get that first hole in before onset of winter. It was not the way Raul wanted it and halted, to step back and tackle the right way come spring.

- the drilling continues on holes 6 and 7 at cove

-This is like a battlefield and hence they are not sure whether they will announce holes independently or as a group, things are changing on a constant basis. to the ill informed on the VIT story do not take changes or lack of definitive ideas on release dates or pulling back on black to attack later as negative......this does NOT mean there is confusion or lack of organization it solely means that the most prudent decisions are awaiting future information. Victoria , Chad and Raul are confident in doing it the right way from the beginning, slow steady, solid, willing to adapt as things evolve. Not to be put in a box by complaining posters etc. This same outside the box ideology is also the thinking that leads to new ideas in finding gold in this region that Raul will prove.

- a third drill rig is stuck at customs on the Canadian border and will go to cove when freed up

- priority is given to the cove area to further define what we have at both Helen and beyond. near term it represents the best gold proof to further the stock price, taking advantage or the power that brings in future share dilution etc. They have ample money to last a while with a burn rate of about $800,000 a month and 11 million in the bank ( about $150,000 a month goes to administrative) so dilution is not even on the map yet. smart spending of the current money is on the map.

- they are fully aware that share dilution is not a friend of ours and will hopefully continue to guard that carefully

- The directorship is keeping an eye open for possible merger and acquisition. I hope they only take on amazingly hard to pass deals or none at all. The last thing we want is a distraction from the ultimate goal and focus of our nice land package. I do agree we should have eyes open for possible solid moves though.

- everyone involved spoke highly of the others when they were not around, also speaking of the great value in directors on the board as a resource. for instance the access to Hugh agro's expertise. this level of access would not come easy to other juniors as they could not afford $$$ it and when dealing with Victoria stuff his kinross hat is not on.

- Raul spent the most time with us during the "work" hours, slow and easy teacher like explanations of the land, mining and our sites. It was great.

- He is/was very happy with Marcus' initial skills and more so with the continued evolution in the past 3 years he has seen. Marcus is humble but talented it seems. Raul is trying to outlay this knowledge to the other geos. Unlike many juniors where geologists are sent to certain areas to become experts on only that land, Victoria's geos will know all the areas and hence be valuable everywhere.

- Raul, as can be assumed if you don't already know his background ( and one should by now) is very methodical, calculated and conservative. And highly talented. unlike many juniors that are screaming at the top of their lungs buy us, we are great we have so much gold etc and may not have much of anything, victoria will prove its worth by slicing the hillside with its precession sword and let the drill results do the screaming.

Everyone invested in a junior explorer should already fully understand the huge volatility of the sector and the GREAT complexity it is to find gold. compounded even more so at depth and with new systems like we are doing at Victoria. Keep in mind that finding gold is not like flipping a light switch if it were the price would be lower and every Geo would be a success. IT IS NOT and that is why patience should be held in this now now now society and one should be happy with our GEO line up led by Raul. Patience and knowledge are character traits that will turn profitable for us. VIT will not be perfect every time and they will run into drilling problems with so so or lack luster drilling companies and have to start with new better ones. No different from being jerked around by a body shop company that looked great to fix your car and it gets held up for an extra three weeks. you regroup and try to proceed with a new angle.

- Raul made a point that it will take them only 5 drill holes to find what it would take even a big cat like Newmont 40 drill holes to find. all that money to waste where we have the skill in the geos and the land to find it faster and more efficiently.

- Raul also reiterated the point known to some and not to others ( do your reading people!) that his prior work experience with the USGS and Ralph Roberts mapping the entire Nevada area has given him UNPARALLELED knowledge of what is where and how it all lays out....he can be an expert in many areas where even some head geos at juniors only know their small little ridge line and nothing else.

- all of Victoria's areas are in known gold areas and along gold belts but keep in mind that most of our areas are at the INTERSECTIONS of two different gold belts.

It was a privilege to be able to have this weekend in Phoenix with them. It of course has not changed my mind about one thing. I am still long Victoria. not in some blind love affair but even in the dark information age of no web site, no direction and no drilling it was a hugely strong story of land package and Geo team. This garnered by perceptive digging for information and trading of ideas amongst many of you. Now with new strong solid leadership, no overhang of influence like with BEMA, money and a game plan the story is just that much stronger. The picture gets clearer and the initial investment decision more reaffirmed as good.

I have the patience, the knowledge of what being a junior means, the risks involved and I have put my money on the line, the education learning hours about VIT in and I am ready to play the game, BRING IT ON. It is going to be exciting to say the least and hopefully fruitful too. WHAT a story.

To those I have met solely because of this investment, Bob from teh Bema days, the Vancouver guys, the chat board people, the Dutch and the VIT crew it has been fascinating. everyday i can't wait to see what happens tomorrow.

cheers, James

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