Summary Comments from Today's Conference Call

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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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thomas4124

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Summary Comments from Today's Conference Call

posted on Mar 22, 2011 07:39PM

We have many catalysts this year that could drive our stock up to a much higher price.

Listed below are my summary comments of Victoria's conference call regarding a 50% increase in their reported mineral resources:

Nevada Properties:

1. Our company is evidently in the process of creating a new resource estimate for their Cove Helen zone. If you recall, our company

made an error in the calculation of their gold resources, resulting in the elimination of 300,000 ounces of gold. An updated resource

estimate should be available within the next couple of weeks.

2. We are currently drilling a second drilling target (Windy Point) - located near the Helen Zone at our Cove property - a 9 hole drilling program.

Drilling results should be available before the end of April 2011.

3. Permits for building the underground tunnel (adit) from our Cove's open pit should be received before the end of the second quarter.

Originally, our company had hoped to get all the permits by the end of 2010. That means that we will probably not generate any cash

flow from bulk samples until the 1st or 2nd quarter of next year. The cost of building the adit will be several million.

4. Additional drilling is expected to occur at our SantaFe and Mill Canyon property later this year.

5. Our company will spend approximately $5 million drilling properties in Nevada for 2011.

Eagle Property:

a. Our company reported a 50% increase in mineral resources yesterday. 25% of the increase was attributable to an increase in

the price of gold bullion, and 75% of the increase was attributable to our company's drilling success in 2009 and 2010.

b. Our company will spend approximately $6 million drilling @ our Eagle property, and additional $3 million on drilling prospects that

are located very close to our main Eagle project (Potato Hills, Popeye, etc.).

c. One rig is operating now; however, by the time peak drilling activity is occurring in the Yukon, we should have 4 or 5 rigs operating.

Drilling season for our Eagle property will be active from March through November. Our drilling season is much longer this

year because our company has built permanent housing for over 100 employees. In the past, drilling season has only occurred

June, July, and August - due to weather conditions.

d. Our company is presently working on a feasibility study that should be completed in Q4, 2011 - Cost is approximately $5 million.

I do expect our company to do another stock offering before year-end; however, I expect that is will be a bought deal that is priced above