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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: Reasons for Our Stock Selloff & Future Prospects
There is no fundamental reason for its recent sell off. I believe it is being sold for two reasons: people are disenchanted and loosing patience - gold sets record highs and our stock falls 50% due a number of things that I have mentioned over the past six months (change of President and CEO, loss of 300 ounces of gold resources at the Helen project, departure and retirement of our chief geologist "Raul Madrid", failure of Newmont Mining to exercise their back-in rights for our Cove property; delays in obtaining permits for construction of an underground tunnel for exploration activities at Helen project; stockholder dilution - despite these shortcomings, our company fundamentals continue to improve - resource estimates at Dublin Gulch have increased by 50%; excellent drilling results reported today at Dublin Gulch; and a very active drilling program this year at a number of Nevada properties and the Yukon; some wildcat exploration activity in the Yukon; anticipated completion of a feasibility study for Dublin Gulch before year-end; expected final approval to construct the adit for underground exploration activity at the Helen project, and a favorable outlook for significantly higher gold prices despite its recent 5% selloff. The second reason for our stock to fall is the fact that all the gold stocks have sold off - 15% for large cap producing gold stocks, and 35% for the junior gold stocks. IMO, the entire gold stock sector is extremely under valued - many of the stocks are prices at levels that are associated with gold selling at several hundred dollars below where it is today. IMO, gold prices will be much higher, and at some point gold stocks will play catch up with the price of gold. Victoria gold keeps adding resources via their drilling success, and the closer we actually get to actually producing gold, investors will be willing to pay a higher price for our stock - simply because their is less risk. Of all the analyst that follow our company that have price targets for our stock over the next 12 months, not one of them are predicting a price target below $1.20 - and the highest price objective is over $5.00 per share. If you look at Victoria Gold's website and review their April presentation, you will also find that our stock is significantly undervalued relative to its peer group. Few investors today recognize that producing gold companies are going to make a ton of money at today's gold prices - and we are going to see substantial increases in their dividends.
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