Victory to Acquire the Kittson Cobalt Property
Suite 1400, 1111 West Georgia Street, Vancouver, BC V6E 4M3
Tel: 604‐687‐4719 Fax: 604‐687‐4778 www.victoryventures.ca TSX‐V: VVN
TSX VENTURE EXCHANGE: VVN
FRANKFURT: VV0
NEWS RELEASE
VICTORY TO ACQUIRE THE KITTSON COBALT PROPERTY
Vancouver, British Columbia January 23, 2017 –Victory Ventures Inc. (“Victory” or the "Company")
(TSX‐V: “VVN”) has entered into an option agreement to acquire a 100% interest in the Kittson Colbalt
Property, located in the Kittson and Coleman Townships of the Larder Lake Mining Division, in
Northeastern Ontario. The Kittson property is comprised of 5 unpatented mining claims totaling 68 units
having a combined area of approximately 1,090 hectares, located approximately 8 km northwest of the
town of Latchford and 120 km by road north of North Bay.
The Kittson Cobalt Property is located within the prolific Cobalt mining camp, which has produced over
420 million ounces of silver. The Property includes two former mines, the Shakt Davies and Cobalt
Kittson. These two mines saw limited production and differed from the typical Cobalt camp in that they
possessed low silver grades, but were enriched in cobalt and gold.
The Cobalt‐Kittson mine operated from 1927 ‐ 1930, and production records are scarce, however
records from the 598‐foot level show this level produced 600 hundred pounds of smaltite (a cobalt
bearing mineral), and gold assays of up to 6.9 g/t were reported.
The Shakt Davies mine saw intermittent development from 1906 ‐ 1964, with the bulk of the
underground working completed between 1924 ‐ 1926. No production records remain, however historic
reports indicate values of 1.5% cobalt over 1.37 meters and select grab samples returning up to 4%
cobalt and 93.3 g/t gold. More recent sampling (1987) of the mine waste pile by the Ontario Geological
Survey personnel returned 0.25% cobalt, 0.75 % nickel, 0.05% copper and 3.4 g/t gold.
Victory can earn a 100% interest in the Property under the terms of the Option Agreement for an
aggregate purchase price of $1,155,000 payable by a combination of common shares and cash, of which
$1,125,000 of the purchase price will be satisfied by the issuance of 25,000,000 common shares at a
deemed price of $0.045 per common share and $30,000, cash payable within 12 months following the
execution of the Option Agreement. The Property is subject to an underlying 2% Net Smelter Returns
(NSR) royalty, of which 1.5% may be purchased by the Company for $1‐million. This transaction is
subject to TSX Venture Exchange approval.
The technical content of this news release has been reviewed and approved by James Place, P. Geo., a
director of the Company, and a qualified person as defined by National Instrument 43‐101.
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Suite 1400, 1111 West Georgia Street, Vancouver, BC V6E 4M3
Tel: 604‐687‐4719 Fax: 604‐687‐4778 www.victoryventures.ca TSX‐V: VVN
On behalf of the Board of Directors: For more information please contact:
Howard Milne V.P. Business Development
“Jeffrey Cocks” Tel: (604) 377‐8994 Email: [email protected]
Website: www.victoryventures.ca
Jeffrey Cocks
President
Victory Ventures Inc. is a Canadian‐based junior mining exploration company focused on the
procurement, exploration and development of resource properties in North and South America. The
Company’s shares are listed and posted for trading on the TSX Venture Exchange under the symbol
"VVN" and on the Frankfurt Exchange under the symbol “VV0”.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISSEMINATION IN THE UNITED STATES