Victoria Gold Corp. announced unaudited consolidated earnings results for the second quarter and six months ended August 31, 2009. For the quarter, the company reported loss before foreign exchange loss and interest income of CAD 2,076,552 and net loss and comprehensive loss of CAD 2,175,098 or CAD 0.012 loss per basic and diluted common share against loss before foreign exchange loss and interest income of CAD 650,171 and net loss and comprehensive loss of CAD 545,621 or CAD 0.006 loss per basic and diluted common share for the same period a year ago. Cash used in operating activities was CAD 1,899,725 against CAD 335,160 for the same period a year ago. The company's investment in resource properties was CAD 2,123,516 against CAD 2,542,620 for the same period a year ago. For the six months, the company reported loss before foreign exchange loss and interest income of CAD 2,748,318 and net loss and comprehensive loss of CAD 3,083,900 or CAD 0.018 loss per basic and diluted common share against loss before foreign exchange loss and interest income of CAD 1,169,378 and net loss and comprehensive loss of CAD 969,256 or CAD 0.010 loss per basic and diluted common share for the same period a year ago. Cash used in operating activities was CAD 2,390,608 against CAD 1,471,719 for the same period a year ago. The company's investment in resource properties was CAD 3,366,605 against CAD 3,898,423 for the same period a year ago.

Victoria Gold Corp. announced that core drilling is underway at its 100% controlled Summit Gold Project. The first diamond drill hole, PS-1 was recently completed to a depth of 529 m while the second hole, PS-2 was started this week. The Summit property is located 35 km east of Gabbs, in Nye County, Nevada, about 40 km west-northwest of the Round Mountain Mine and about 240 km south of Victoria's Cove Gold Project. The property is comprised of 26 unpatented mining claims originally held by Taminco, plus 249 unpatented claims staked by Victoria, all of which are now held under contract with Taminco Inc., the underlying claim holder. Victoria has exercised its right to purchase the Summit property from Taminco Inc. and will own 100% of the property once the final installment payment, scheduled for 2013, has been made. Taminco Inc. will retain a 3.5% Net Smelter Royalty from the property. Centered within the Summit property is a Carlin-type gold system. A small part of this mineralized area hosted the site of over 120 holes drilled by previous operators to an average depth of 95 m. About 70 of these holes were drilled in a smaller area containing higher-grades of gold, which produced about 8,800 ounces at a grade of 8.22 g/t in open pit mining in 1988 and 1989. Many of the shallow, mostly vertical reverse circulation drill holes ended in strongly altered and dolomitized rocks containing anomalous gold grades within Triassic carbonate and carbonate-rich sediments. Gold mineralization is also known to occur in volcanic sediments at the base of the volcanic rocks. This historical data was used by Victoria in the decision to conduct further work at Summit. Further background on the Summit property can be found at www.vitgoldcorp.com. Victoria has completed a Structural Systematics mapping campaign and has delineated several targets for drilling. The first of these targets will be drilled in a three-hole array. This array will first test the intersection of steeply to shallowly plunging intersection zones of NW, WNW, and N-S structural orientation. Victoria is focused on expanding the potential of the gold mineralized area that covers a minimum 1,000 m by 700 m zone characterized by outcropping hydrothermal dolomite. This alteration/mineralization is thought to extend further under the volcanics, and drilling is designed to test mineralized rocks under these volcanic rocks and to extend the gold system laterally, as well as to depth.

To update shareholders on recent developments involving the company, including the drill results announced from the Santa Fe gold exploration project in Nevada