Victory Acquires 100% Interest in Georgia Lake Lithium Project in Ontario
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
For Immediate Release
VICTORY ACQUIRES 100% INTEREST IN GEORGIA LAKE LITHIUM
PROJECT IN ONTARIO
● Property represents a large, under-explored land package adjacent to Rock
Tech’s near term Georgia Lake Lithium deposit
● The Georgia Lake Lithium District has a proven track record of economic Li
deposits dating back to the mid 1950’s
● Rock Tech is building a lithium ore processing facility for custom milling in
Thunder Bay, to be online in early 2024, which with Ontario Government support
will support mineral processing from other nearby Li mines
VANCOUVER, BC, CANADA ( May 3 rd, 2022) – Victory Resources Corporation (CSE: VR)
(FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company”) is pleased to announce that the
Company’s has acquired 100% interest in the Georgia Lake Lithium Project in the Thunder Bay
District, Ontario.
“Noting the growing global demand for Lithium, and other batter metals, Victory’s exploration team
has been actively looking for an Ontario based Lithium property within proven Lithium regions,”
said Mr. Mark Ireton, Victory Resources President and CEO. “Georgia Lake Lithium represents
such a property, and with the renewed focus from the Government of Ontario, the development
of infrastructure is being supported in this prolific Lithium region , allowing us to realize the full
potential of any commercially viable deposits within the project.”
Georgia Lake Project Highlights
• The property is easily accessible, ranging anywhere from 1 -3 km from Trans -Canada
Highway, midway between Nipigon and Beardmore, Ontario; 14 km from Beardmore,
which is a hub for the mining industry in Northern Ontario.
• Victory’s Georgia Lake property is 2 km east of Rock Tech Resources advanced lithium
project within the Georgia Lake lithium District
• In addition to external access, m uch of the project area is accessible through a recently
developed network of logging roads, which will benefit Victory in terms of lower exploration
costs
• Historical mapping has noted abundant S -type granites which are known to host
spodumene (“LCT” - lithium-cesium-tantalum) pegmatites on nearby Rock Tech lithium
deposit.
• Prior to commencing exploration of the property, the company plans to initiate discussions
with local first nations setting out a collaborative framework to maximize efficiency and
results.
• An application for a work permit will be submitted to the MNDM which will include detailed
geological mapping and sampling, with emphasis on late pegmatite dikes and apophyses
known on the property. A pending drill program is envisioned, pending results of the 2022
mapping and sampling program. Drilling is possible 12 months of the year due to the
excellent road infrastructure and relatively flat terrain on the property.
Cash and Equity Terms of the Transaction include:
• $25,000.00 upon signing of this Agreement, subject to CSE approval
• $25,000.00 on the first anniversary of the date of this Agreement
• $100,000.00 on the second anniversary of the date of this Agreement
• $100,000.00 on the third anniversary of the of the date of this Agreement.
• $40,000 in Common Shares in the capital of Purchaser (the "Common Shares") upon
signature of the Agreement and upon receipt of the approval of the CSE;
• $40,000 in Common Shares on the first anniversar y of the date of this Agreement, upon
receipt of the approval of the CSE
• $75,000 in Common Shares on the second anniversary of the date of this Agreement,
upon receipt of the approval of the CSE
• $175,000 in Common Shares on the third anniversary of the date of this Agreement upon
receipt of the approval of the CSE
• Mining work on the property to incur aggregate expenditures of $750,000 on or before the
3rd anniversary of the effective date
• Upon exercise of the Option, the Optionee will have the right to purchase one-half of the
NSR Royalty (1% NSR Royalty) upon payment of $1,000,000, and the Optionee will have
the right to purchase up to an additional one quarter of the NSR Royalty (totalling 0.5%
NSR Royalty) for an additional $1,000,000. Optionee will r etain first right of refusal to
purchase any remaining NSR Royalty from the Optionor
The technical information contained in this news release has been reviewed and approved by
Bob Marvin (PGeo), who is a Qualified Person as defined under National Instrument 43-101.
For further information, please contact:
Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: [email protected]
About Victory Resources Corporation
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
VICTORY RESOURCES CORPORATION (CSE: VR) is a publicly traded diversified investment
corporation with mineral interests in North America. The Company is also actively seeking other
exploration opportunities.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward -looking statements that involve
substantial known and unknown risks and uncertainties. All statements other than statements of historical
fact are forward -looking statements, including, without limitation, statements regarding future financial
position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint -
ventures and strategic alliances and co -operations, budgets, cost and plans and objectives of or involving
the Company. Such forward -looking information reflects management's current beliefs and is based on
information currently available to management. Often, but not always, forward -looking statements can be
identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including
negative variations) of such words and phrases or may be identified by statements to the effect that certain
actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of
known and unknown risks, uncertainties and other factors may cause the actual results o r performance to
materially differ from any future results or performance expressed or implied by the forward -looking
information. These forward-looking statements are subject to numerous risks and uncertainties, certain of
which are beyond the control of the Company including, but not limited to, the impact of general economic
conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the
assumptions used in the preparation of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward -
looking statements. The Company does not assume any obligation to update or revise its forward -looking
statements, whether as a re sult of new information, future events, or otherwise, except as required by
securities laws.