Victory Receives Acknowledgement Letter from Nevada Blm to Advance to Permit ON Loner Property
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
For Immediate Release
VICTORY RECEIVES ACKNOWLEDGEMENT LETTER FROM NEVADA BLM TO
ADVANCE TO PERMIT ON LONER PROPERTY
VICTORY IN FINAL STAGES TO LAUNCH DRILLING OPERATIONS FOR 500M SHORT- HOLE
DRILL PROGRAM
VANCOUVER, BC, CANADA ( February 5th , 2021 ) – Victory Resources Corporation (CSE: VR)
(FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company”) is pleased to announce that the Company’s
permit application process has advanced and that the Company has received an “A cknowledgement of
Receipt of Exploration Notice and Reclamation Cost Estimate” from the Bureau of Land Management
(BLM), Winnemucca District Office . In response to the acknowledgement letter the Company has
submitted the required payment guarantee for the bond to secure the permit to drill the Loner Property.
“Our exploration team has made tremendous progress, completing the preparatory work required to
finalize all elements of drilling program operations plan, including the engagement of drilling services and
submission of the permit application,” said Victory CEO, Mr. David Lane. “Under the leadership of our VP
of Exploration, David Deering, all of this has been expedited in a short timeframe, and under challenging
conditions due to the pandemic, since the Loner Property was optioned on December 23 rd from Silver
Range Resources.”
Loner Drill Permit Advancement Highlights
• Victory has received Acknowledgement of Receipt of Exploration Notice from BLM in Nevada
• The Company has submitted the required payment to the BLM for the bond to secure the drill
permit for Loner
• Once the permit is secured in the near term, the Company will finalize its timelines for the
upcoming initial drill program, planned for 7 to 10 diamond drill holes totalling 500m
• Loner gives Victory year-round exploration access in a zone within Nevada that is in the vicinity of
Goldbanks, an area where Barrick, Kinross and Premier have interests
The project will begin when Victory receives the decision letter from BLM stating the guarantee has been
accepted. At that point Company will finalize its timelines for the initial drill program, planned for 7 to 10
diamond drill holes totalling 500m. The drilling is to accomplish two goals. Firstly, it is intended to better
characterize the mineralization exposed in the known workings, which are mostly inaccessible. Secondly,
drilling is intended to evaluate the 200m to 300m wide zone of anomalous soils identified by Silver Range
Resources through principal component analysis. Specifically, drilling will focus on the area of Au in soil
anomalies to the south and east of the main workings, though other areas will be evaluated as well.
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
Scientific and technical information contained in this press release was reviewed and approved by Mr.
David Deering, VP of Exploration for Victory, and a "qualified person" under NI 43-101.
About the Loner Property:
The Loner Property is located 35 km south of Winnemucca in the southern Sonoma Range and currently
consists of 16 Federal Lode Claims covering historic workings and exposed low-sulphidation gold
mineralization. Recent exploration in the area includes the Goldbanks Project, an epithermal gold project
about 12 miles to the south, and the Coronado VMS Project, which has been exploring for Cu on a
property about 6 miles to the southeast of the Loner Property. The area of the Loner Property is
prospective for both these styles of mineralization. Victory Resources has optioned the Loner Property
from Silver Range Resources (TSX-V: SNG) (“Silver Range”) as announced on 23 December 2020.
For further information, please contact:
David Lane, President
Telephone: +1 (236) 317 2822
Toll Free (855) 665- GOLD (4653)
E-mail: [email protected]
About Victory Resources Corporation
VICTORY RESOURCES CORPORATION (CSE: VR) (FWB: VR61) (OTC: VRCFF) 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 m ay 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 fin ancial
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
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number of known and unknown risks, uncertainties and other factors may cause the actual results or
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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 condi tions, 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 result of new information,
future events, or otherwise, except as required by securities laws.