Cortez Trend - Nevada

Lass die Katzen aus dem Sack, Edelman

Vitoria Resdourcesd mit herausragenden Bohrergebnissen.
Weiß wer noch, von wem Bema übernommen werde sollte??
Da gab´s doch ein Angebot!
Für Nevada ein hammer diese Ergebnisse, dazu nebnan euine open pit Mine.

Victoria Resource Corporation: Drilling Intersects High Grade Gold at Cove McCoy, Nevada
Tuesday January 9, 9:15 am ET

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jan 9, 2007 -- Victoria Resource Corporation (TSX VENTURE:VIT.V - News) ("Victoria" or the "Company") is pleased to announce diamond drill results from its first two holes at the Company's Cove-McCoy property located in north-central Nevada. The first hole, NW-1, is located approximately 550 metres north-west of the Cove Mine open pit, which produced over 2.6 million ounces of gold and over 103 million ounces of silver between 1987 and 2001. Hole NW-3 is located about 245 metres west of NW-1 and about 800 metres west of the pit.
Hole NW-1 encountered multiple zones of mineralization, including several high-grade structurally controlled intervals, at depths ranging from 435.9 metres to 661.4 metres. The most significant interval in NW-1 is 38.4 metres containing 10.95 grams per tonne ("g/t") gold, including 10.4 metres containing 21.98 g/t gold. Hole NW-3 encountered 12.2 metres containing 4.96 g/t gold including 3.0 metres at 8.98 g/t gold at depths ranging from 564.2 metres to 574.5 metres. True widths are unknown at this time. The tables below outline the significant intercepts of holes NW-1 and NW-3:

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Hole NW-1 (083, -67), Cove-McCoy Project, NW-Cove target area
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From (metres) To (metres) Length (metres) Gold (g/t)
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435.9 661.4 225.6(i) 2.72
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Incl: 435.9 557.8 121.9 1.21
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Incl: 440.4 452.6 12.2 2.02
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Incl: 470.9 483.1 12.2 2.35
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Incl: 493.8 501.4 7.6 2.99
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Incl: 522.7 524.1 1.4 5.42
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Incl: 548.6 557.8 9.1 2.25
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Incl: 557.8 661.4 103.6(i) 4.49
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Incl: 576.4 581.9 5.5 3.42
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Incl: 605.0 643.4 38.4 10.95
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Incl: 605.0 615.4 10.4(ii) 21.98
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Incl: 622.7 643.4 20.7(ii) 9.15
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Incl: 653.8 656.9 3.0 2.30
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Hole NW-3 (070, -55), Cove-McCoy Project, NW-Cove target area
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From (metres) To (metres) Length (metres) Gold (g/t)
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516.6 576.1 59.4 1.81
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Incl: 545.6 576.1 30.5 2.82
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Incl: 562.4 574.5 12.2 4.96
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Incl: 562.4 565.4 3.0(ii) 8.98
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(i) a cut-off of 300 ppb for the 103.6 metre portion of the 225.6 metre of
altered and mineralized zone was not possible.
(ii)Cut-off grade at 3.42 g/t gold; all others at 0.30 g/t gold cut-off

The highest grade zones in hole NW-1 were intercepted approximately 150 metres below the deepest holes drilled by previous companies. The high-grade intervals are in strongly decalcified limestone within the Favret Formation, which has been cut by north-west striking, south-west and north-east dipping structural systems. The Favret, where it is cut by these gold-bearing structural systems, is the main NW-Cove target northwest of the Cove open pit. The mineralization encountered in these holes is open in all directions.

Holes NW-1 and NW-3 are part of an initial, three-hole, diamond drilling program designed to define structural systems and to thereby drill deeper convergence zones indicated by Victoria's mapping programs. Hole NW-2 was lost and NW-2A represents the third hole to be drilled and both are pending assays, but similar alteration-mineralization occurs in these two holes. Additional holes are being designed to further test these thick zones of alteration-mineralization in the Northwest Cove target area.

Victoria will continue to expand its exploration program at Cove-McCoy and will also continue to assess the extent of the alteration-mineralization that occurs where the Favret Formation is cut by structural systems encountered to date throughout the property. The Company has defined nine additional targets where the Favret Formation can be drilled.

Victoria controls over 48,000 hectares in Northern Nevada in nine project areas, most of which it plans to drill over the next year. A third drill rig will arrive in approximately one week to begin drilling in one of these project areas.

Drill core is logged, photographed and cut in half with a diamond saw on site. One half of the HQ diameter core is shipped to BSI-Inspectorate Laboratory in Reno, Nevada. Analysis by BSI Labs includes gold fire assay with atomic absorption ("AA") and gold fire assay with gravimetric analysis on all samples grading greater than 3.0 grams per tonne gold. Victoria uses certified control standards, duplicates and coarse field blanks inserted into the sample stream to the lab to monitor lab performance. The qualified person under National Instrument 43-101 is Tom Garagan, P.Geo.

Victoria is a 29.7% owned affiliate of Bema Gold Corporation (TSX:BGO.TO - News)(NYSE:BGO - News)(AIM: BAU).

On Behalf of VICTORIA RESOURCE CORPORATION

Roger T. Richer, President and Director

@edel,
du hast dir noch nicht die Ergebnisse angeschaut und verglichen.

Gut, sie müssen bestätigt werden.

Danke für Kinross, yes!
Weil Bema hat fast 30% an Victoria.
und Kinross auch etliches an Bema.

T.

@edel,
der Rausch war schon gestern.

Victoria reported an average grade of 2.6 g/t over 225 metres which is impressive so to speak. To put things in perspective, Aurelian’s first discovery hole yielded a grade of 4.14 g /t over 237 metres.

Nachteil: True widths are unknown at this time.

Vorteil: Victoria’s Cove McCoy project is located just 800 meters from the Cove Mine open pit, which produced over 2.6 million ounces of gold and over 103 million ounces of silver between 1987 and 2001.

T. (hab´s auch nicht, aber ab heute ein spezielles Auge drauf!)

Henk Krasenberg mit einer Zusammenfassung + Ausblick zu X-CAL:

X-Cal Resources Ltd. (TSX-XCL: price January 16 - C$0.30)

When it comes to the attention of the media and the resource investment communities for mining and exploration activities, it is the State of Nevada that has been receiving the most. Not surprisingly, knowing that NEVADA is recognized as the 3rd largest mining gold producing state of the world, after South Africa and Australia. Many of the most productive gold mines are situated in Nevada, new mines are being brought to production and exploration activities are in full swing. If ever there will be a new major gold discovery, Nevada is one of the more likely places where it could happen. Especially the discovery of Cortez Hills by Placer Dome in 2003 gave a new strong impulse to the exploration activities because it represented a major change in thinking. The Cortez Hills discovery demonstrated that Carlin style deposits do also exist in the Cortez Trend and that the true potential of the Trend may lie at depth, contrary to previous thinking. Since then, a true revival of exploration programs has brought many companies, new and old, to the place of action. The presence of X-Cal Resources in Nevada has been there since 1993 when it started to acquire 50% of the rights to explore and develop the Sleeper Gold Properties from Kinross Gold Corporation (TSX-K) and an option to acquire their remaining 50% interest. As anyone in mining and metals remembers the nineties mainly as the years of depressed prices, it is not surprising that it took until January 2004 that X-Cal exercised the option to own the project for the full 100% and enter into a new joint venture with another Canadian company. The 2004, 2005 and early 2006 exploration programs included over 100,000 feet of core and reverse circulation drilling and resulted in the completion of a NI43-101 report in March 2006. X-Cal Resources' management deemed it wise to assemble a panel of professionals to independently review the Sleeper Gold Project and to make recommendations for ongoing work. A look at the professionals that participated in the panel, learns that it is probably the best possible team of specialists in Nevada mining that ever could and will be put together. Full information on the panel members and their reports can be found at the company's website, http://www.x-cal.com. Based on the reports and recommendations and other information, X-Cal's management determined that it was in the shareholders best interest to acquire the full 100% interest in the Sleeper Gold Property and become the sole operator and source of funding the project. In May, 2006, X-Cal succeeded to close a transaction with its joint venture partner to acquire their 50% interest for a payment of C$ 5 million and 10 million shares. This transaction made everything until that moment history and represented a new beginning, a new future for X-Cal Resources and the Sleeper Gold Project. Geologically, that new future started in August 2006 with the beginning of the first drilling of a major drill program designed to test each of five priorities, mine scale targets. The recommended exploration program is budgeted at US$ 15 million in total with a first phase of US$ 5 million. Reflecting the good relationship with Kinross is that they decided to take a private placement of shares last September, adding more than $ 1 million to X-Cal's treasury and increasing its total interest to 10.5% of X-Cal's total outstanding shares. The combination of a prime project situated on a major mineral trend in Nevada, the 100% ownership, a very extensive historical database, a clear vision on the future exploration potential, a truly impressive group of mining and exploration specialists as directors and consultants, the other properties in the portfolio, all coordinated by the dedicated management of Shawn Kennedy, gives me a good feeling for the future of X-Cal Resources. I am looking forward to times that could be exciting.

Auf RobTV sah ich Paul van Eeden der schwaermt von Miranda (MAD.V).
Er sagt die haben ein klasse Management und werden im Cortez noch Schlagzeilen machen.

Edel, ich hab sie noch weil ich MAD bin.

Ist nun ein Freilaeufer nachdem ich die haelfte mit 100% Gewinn verkauft hatte. Der Paul van Eeden hat sicherlich mehr, bei dem Interview erwaehnte er nur eine Goldaktie. Noch mehr schwaermt er von Rimfire Minerals (RFM.V) die mit McEwen was machen.

Wie du im Exporer im Sprung, auch nach unten :D, sehen kannst gibt es highflyer die steigen so schnell und fallen im selben Stil wie NOT und KBG z.B. Better a devil you know than ....

Mittlerweile gibt es in Kanada 150 Uran Explorer so aehnlich schauts bei den EM auch aus, es kommen immer mehr zum Vorschein viele sind ein Ripp-Off.

Auf die Victoria ( VIT.V ) habe ich hier im Board oft hingewiesen, die halte ich ebenso lange wie die MAD.V.

Jetzt wo die Victoria tanzt kaufen man die.... bitte weiter so.
Ebenso ein Freilaeufer im Depot, nur mehr die haelfte am laufen.

Ich denke mir oft was passiert wenn die Amis irgendwas verstaatlichen wie Hugo es macht in Nevada.
Selbst dort ist nichts 100% sicher falls die auf die Idee kommen den Goldmarkt im Griff zu bekommen.

Hoffentlich kratzen wir rechtzeitig die Kurve, egal wo, aber zum richtigen Preis sonst werden wir die ""Stuckholder""

Have a good one, the higher you fly the deeper you fall, they say.

Gruss

Eldo

Edelmann, dein Kommentar ist gefragt!

U.S. Gold to mail out takeover bids to three companies

2007-01-18 19:06 ET - News Release
See News Release (C-UXG) US Gold Corp
Mr. William Pass of U.S. Gold reports

U.S. GOLD ISSUES STATUS REPORT ON PROPOSED TENDER OFFERS
U.S. Gold Corp. has provided a progress review on its proposed consolidation of the Cortez trend in Nevada.

U.S. Gold anticipates being able to commence the formal tender offers for each of Nevada Pacific Gold Ltd., Tone Resources Ltd. and White Knight Resources Ltd. by mid-February, 2007, subject to the satisfaction of certain regulatory requirements. U.S. Gold may re-evaluate its intentions to proceed with the proposed offers for one or more of those companies at any time.

U.S. Gold has decided not to pursue its proposed offer for Coral Gold Resources Ltd. at this time in view of certain regulatory requirements that would need to be satisfied by Coral Gold Resources prior to the commencement by U.S. Gold of a formal tender offer. U.S. Gold was concerned that the possible undue delay and expense arising from the satisfaction of those regulatory requirements could possibly jeopardize the proposed offers for the other three companies. In the future, U.S. Gold may re-evaluate its intention to acquire Coral Gold Resources.

We seek Safe Harbor.

http://www.stockwatch.com/swne…&symbol=WKR&news_region=C

Mitte Februar dieses Jahres soll U.S. Gold endlich bereit sein, ein formelles Übernahmeangebot für Nevada Pacific Gold Ltd., Tone Resources Limited and White Knight Resources Ltd. auszusprechen. Mit dieser Ankündigung hat Rob McEwen erneut das Interesse an den Übernahmekandidaten entfacht, die seit der Ankündigung des Deals am 18. Januar 2007 im Durchschnitt 20 Prozent zulegen konnten.

Wir erinnern uns: McEwen hatte ursprünglich im März 2006 seine Absicht bekannt gegeben, den Cortez-Bergbaudistrikt in Nevada, USA, zu konsolidieren. Bis Mai 2006 reagierte die Aktie von Nevada Pacific daraufhin mit einer furiosen Kurs-Rallye. Von weniger als 0,30 EUR Ende November 2005 schoss Nevada bis auf 1,30 Euro im Mai 2006. Seitdem hat sich das Interesse abgekühlt und die Aktie hat sich bei schwachen Umsätzen bis Mitte Januar 2007 halbiert. Aus dem McEwen-Lager war nur noch sehr leise von Übernahmeplänen zu hören, mancher verlor die Geduld. Nur auf Nachfrage wurde mitgeteilt, dass U.S. Gold die rechtlichen Voraussetzungen für die Übernahme mehrer Firmen schaffe. Angesichts verschärfter SEC-Auflagen war dies eine wahre Mamuthaufgabe, die den erfolgsverwöhnten Goldcorp Gründer auf eine schwere Probe stellte.

Wie geht es jetzt bei Nevada Pacific Gold (Frankfurt WKN 929971 , TSX.V: NPG) weiter? Wie David Hottman, CEO, berichtet, hat die Gesellschaft die "Interimszeit" genutzt, um bei der Exploration noch mal richtig Gas zu geben. In Nevada wurden 1.200 und auf dem Minenprojekt in Mexiko sogar knapp 6.000 Bohrmeter vorangebracht. Der weit überwiegende Teil dieser Bohrergebnisse steht noch aus und wird in den kommenden zwei bis drei Wochen erwartet. Gute Ergebnisse vor allem aus Cornerstone in Nevada, das zu den Kerngebieten von McEwens geplanter Akquisition gehört, könnten den Übernahmepreis durchaus massiv beeinflussen. Der Markt dürfte daher in den nächsten Wochen wieder genauer auf die Nachrichten von Nevada Pacific achten.

Es ist ein offenes Geheimnis, dass CEO Hottman die Magistral Mine in Mexiko gerne vor dem Zugriff McEwens bewahren würde. Die in Kürze erwarteten Bohrergebnisse könnten tatsächlich Argumente für die Ausgliederung dieses Assets liefern, vorausgesetzt sie untermauern die Größe und Eigenständigkeit des Projekts. Allerdings bedürfte die Ausgliederung der Mine der Zustimmung aller Aktionäre und es ist derzeit nicht absehbar, wie der Hauptaktionär McEwen dem zustimmen sollte. Unmöglich ist allerdings nichts, denn McEwens Interesse scheint sich eindeutig nur auf die Nevada-Assets zu richten. Zumindest ein wenig Phantasie bleibt Nevada-Aktionären also.

Interessant ist die Frage, warum die Mine nicht einfach wieder in Betrieb genommen wurde. Der ursprüngliche "Mining Plan" beruhte noch auf Preisen von 450 US-Dollar pro Goldunze. Bei 600 US-Dollar sollte die Mine mit Leichtigkeit profitabel sein. Tatsächlich wäre allein aufgrund der vorhandenen Reserven eine sechsjährige Lebensdauer möglich. Die Mine könnte rechnerisch in dieser Zeit mehr als 40 Millionen US-Dollar an Operating Profit erwirtschaften. Da die Produktion jedoch unterbrochen wurde, müsste Nevada Pacific wegen des zeitverzögerten Beginns des Laugungsprozesses und durch neue Erdbewegungen erst einmal eine 90-tägige Durststrecke finanziell überbrücken. In dieser Zeit wären die vollen Kosten für Personal und Gerät zu tragen, ohne dass schon Geld in die Kasse käme. Erst danach würde wieder kontinuierlich Gold produziert. Das Geld für diese Wiederaufnahme der Produktion müsste Nevada Pacific - Stand heute - allerdings per Kapitalerhöhung aufnehmen. Angesichts des erwarteten Übernahmeangebots von US Gold war dieser Weg rechtlich schwierig, weil eventuell eine Aktionärsklage gedroht hätte. Man kann diese verzwickte Lage bedauern, denn die Magistral Mine hätte selbst ohne weitere Funde eine Lebenserwartung von sechs Jahren bei einem voraussichtlichen operativen Gewinn von mehr als 40 Millionen US-Dollar.

So bleibt den Aktionären jetzt erst einmal die Erwartung auf die genauen Konditionen des Übernahmeangebots von US Gold voraussichtlich im Februar. Beim letzten angekündigten Angebot hätte US Gold 0,23 Aktien für jede Aktie von Nevada Pacific gezahlt. Angenommen dieses Umtauschverhältnis würde unverändert bleiben, ergäbe sich daraus folgendes Szenario: US Gold notiert aktuell bei 4,83 US-Dollar, dem entsprechend würden Nevada Aktionäre - wenn alles unverändert bliebe - einen Wert von 1,11 US-Dollar (umgerechnet 1,30 CAD) für ihr Papier erhalten. Dies entspräche gegenüber dem aktuellen Kurs von 1,13 CAD einer Prämie von rund 15 Prozent. Wohlgemerkt, dies ist nur ein mögliches Szenario. Theoretisch sollten die Kurse von US Gold und Nevada parallel verlaufen.

GOLDINVEST.de berichtet und kommentiert das aktuelle Geschehen an den Rohstoffmärkten und verfolgt die Entwicklung von Minengesellschaften, insbesondere aus den Bereichen Gold- und Silber, aber auch bei Basismetallen und sonstigen Rohstoffen. Weitere Infos unter: http://www.goldinvest.de

x-cal heute mit +28%
wollt vor kurzem noch aufstocken, habs leider nit gmocht.
aber schau ma in die zukunft. das wird sicher was bei x-cal sagt mein bauch.

--------------------

Hallo Schischi

Zu XCL gibt es einen eigenen Sräd.

Grüsse
Edel Man

Victoria mit Landkauf.
Der Scheiß sind hier die fast 30% Anteil von Bema und damit die Gefahr, dass sie Kinross einfach aus dem Rennen nimmt.

Die Ergebnisse Anfang Jänner waren jedenfalls die besten, die je erzielt wurden im Cortez Trend von einem junior.

Erwarte hier weitere Topergebnisse.
Bin aber leider nicht dabei.

Wenn wer etwas zu XCAL weiß, die verhalten sich irgendwie ungewöhnlich, sagt mir aber nichts,
was mir wiederum keine Ruhe lässt...

Kinross ist jetzt schon ein großer player in dem Gebiet, das langsam wieder Betriebswärme erhält.

Und nun diese Meldung:

http://www.stockhouse.ca/news/…p?newsid=4931141&tick=VIT
VICTORIA RESOURCES CORP

Victoria Acquires High-Grade Gold, Carlin-type, Summit Property in Central Nevada
2/9/2007

VANCOUVER, BRITISH COLUMBIA, Feb 09, 2007 (MARKET WIRE via COMTEX News Network) --
Victoria Resource Corporation (TSX VENTURE: VIT) ("Victoria" or the "Company"), is pleased to announce it has acquired 100% of the high grade Summit gold property in Nye County, Nevada from a private company named Taminco Inc. The property is located within a large, NW-trending belt of gold bearing structures and consists of a core group of 26 unpatented mining claims surrounded by 245 unpatented mining claims. The Summit Mine produced 8,800 ounces at a grade of 8.23 grams per tonne ("g/t") gold in a small open-pit in the late 1980's.

Many high-grade intercepts of gold were encountered in previous drilling campaigns (Table 1). The drilling occurred along the NW margin of a tectonic window in which pre-volcanic carbonate rocks are exposed below mostly post-mineral volcanic rocks. The carbonate rocks host Carlin-type mineralization and previous drilling indicates that the NW-striking Carlin-type gold mineralization extends under post-mineral volcanics and is open in all directions.

Table 1: Selected High-grade intercepts from reverse circulationdrilling at the Summit Property---------------------------------------------------- From To Intercept GoldHole # (metres) (metres) (metres) (g/t)----------------------------------------------------4 3.0 30.5 27.4(i) 10.38----------------------------------------------------4 3.0 16.8 includes 13.7 20.61----------------------------------------------------7 0.0 48.8 48.8(i) 4.03----------------------------------------------------7 24.4 38.1 includes 13.7 10.65----------------------------------------------------8.2 35.1 42.7 7.6 8.77----------------------------------------------------21 86.9 121.9 32.0(i) 5.49----------------------------------------------------21 88.4 99.1 includes 10.7 6.99----------------------------------------------------21 102.1 111.3 also includes 9.1 9.66----------------------------------------------------24 100.6 106.7 6.1 6.82----------------------------------------------------51 1.5 6.1 4.6 8.66----------------------------------------------------53 1.5 9.1 7.6 11.71----------------------------------------------------54 12.2 15.2 3.0 38.39----------------------------------------------------58 7.6 19.8 12.2 14.35----------------------------------------------------59 9.1 21.3 12.2 10.47----------------------------------------------------62 9.1 24.4 15.2 8.85----------------------------------------------------64 0.0 7.6 7.6 12.02----------------------------------------------------66 1.5 10.7 9.1 15.86----------------------------------------------------68 3.0 32.0 29.0(i) 15.15----------------------------------------------------68 3.0 15.2 includes 12.2 34.57----------------------------------------------------69 3.0 18.3 15.2(i) 9.62----------------------------------------------------69 3.0 12.2 includes 9.1 11.22----------------------------------------------------70 4.6 16.8 12.2(i) 7.77----------------------------------------------------70 9.1 13.7 includes 4.6 12.42----------------------------------------------------71 9.1 13.7 4.6 16.16----------------------------------------------------74 21.3 32.0 10.7(i) 9.84----------------------------------------------------74 21.3 27.4 includes 6.1 14.23----------------------------------------------------92-2 33.5 38.1 4.6 42.67----------------------------------------------------92-3 29.0 32.0 3.0 27.47----------------------------------------------------Cut-off grade on high-grade intercepts is 3.429 g/t: (i) equals cut offgrade at 0.514 g/t.
Victoria's due diligence mapping and sampling program thus far indicates that gold-related structures occur over a minimum structural width of 1,188.7 metres with gold-mineralized, hydrothermal dolomite occurring within that entire width. Additional old prospects and associated structures widen this to a minimum of 1,798.3 metres, with a significant strike length. The hydrothermal dolomite has replaced limestone over large areas. Overlying volcanics obscure the total length and width of the gold system. The high grade intercepts in previous holes (table above) range in depth from surface to as deep as 121.9 metres, but most were in the range of 3 to 91.4 metres deep, with the deepest hole at 213.4 metres. As a result, gold mineralization is open in all directions as many previous holes end in alteration and/or gold mineralization. Due diligence sampling of outcrop and small dumps support the grades encountered by drilling.

The property has been acquired under an Option-Purchase agreement. After signing, the Company has paid $25,000 to enter into the option portion of the agreement for a period of 3 months with up to 3 months of extensions for $5,000 each month. At the end of the option portion of the agreement, the Company must decide whether to purchase the property. The purchase price is dependent on and will be adjusted by the then, current gold price, but will not be less than $500,000. For example, at an average gold price of $635 per ounce, the lump purchase price would be $635,000. At the Company's election, the payment can be made as a lump sum or split into yearly payments over a five-year period. The first payment is split into a $50,000 payment after 30 days of the decision to purchase the property and a second payment of $50,000 at the first anniversary of the purchase agreement. Thereafter, all yearly purchase payments in the remaining 4 years will be $100,000. If the average gold price is $670 per ounce when one of the minimum payments of $100,000 is to be made, the payment would be $134,000. All purchase payments will be subject to the then prevailing gold price and will be adjusted accordingly at the time they are paid. The property will also be subject to a 3.5% Net Smelter Royalty with Advanced Royalty payments paid as a function of then current gold prices on a monthly basis, starting with and escalating by 12 ounces of gold per year until production. An Area of Influence of 1 mile from the 26 core unpatented mining claims is included. The Company also paid $15,000 for the purchase of water rights to provide water for drilling and other exploration activities.

The shallow drilling in previous programs, together with the width and length of the gold system indicates an excellent potential for defining larger gold targets for further exploration diamond core-drilling, which will begin as soon as the snow melts in the spring. Structural mapping will precede the drilling to establish the shallowest targets and deeper convergence zones.

Victoria also announces that it has acquired 439 additional unpatented mining claims (100% Victoria) around its claim holdings at Cove-McCoy. At its Relief Canyon project, it has staked an additional 474 unpatented mining claims to expand its property position beyond the core group of claims it has published previously.

Victoria is a 29.7% owned affiliate of Bema Gold Corporation (TSX: BGO)(NYSE: BGO)(AIM: BAU). The qualified person for Victoria under National Instrument 43-101 is Tom Garagan, P.Geo. Raul Madrid is responsible for on site field activities. All dollar figures are in United States dollars unless otherwise indicated.

On Behalf of VICTORIA RESOURCE CORPORATION

Roger T. Richer, President and Director