Victory Resources Announces Acquisition of LAC Simard, Quebec Property
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
VICTORY RESOURCES ANNOUNCES ACQUISITION OF LAC SIMARD,
QUEBEC PROPERTY
Lac Simard Property Abuts Southern Edge of Agnico Eagle’s Goldex
Claim Block within a 20 km region with three operating Gold mines
VANCOUVER, BC, CANADA (September 22nd, 2020) – Victory Resources Corporation (CSE: VR)
(FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company) is pleased to announce the arms-
length acquisition of the Lac Simard Property in Quebec from Archie Capital Inc.
The Lac Simard Property (the “Property”) is approximately 5 km south of Val-d'Or, Quebec.
The Property abuts the southern edge of Agnico Eagle’s Goldex claim block. There are 3
operating gold mines within 20 km of the Property including Agnico Eagle’s Goldex and
Canadian Malartic mines and Eldorado Gold’s Lamaque mine. All three of which are
considered to be orogenic gold deposits and occur along the Larder Lake – Cadillac Fault
System.
Background on the Three operating Gold Mines in the area of the Lac Simard Property
• Agnico Eagle's Goldex Mine is 6 km north of the Property. The Goldex Deposit has
proven and probable mineral reserves of 1.1 million ounces of gold (21.0 million
tonnes grading 1.61 grams/tonne gold) as of December 31, 2019. It is an underground
mine exploiting a stockwork of quartz or quartz- tourmaline-pyrite veins and veinlets
associated with the Goldex Granodiorite.
• Canadian Malartic, also owned by Agnico Eagle (in partnership with Yamana Gold), is
Canada's largest operating open pit gold mine. It is about 20 km to the northwest of
the Property. The 55,000-tonnes/day open-pit mine and plant produced 662,918
ounces of gold in 2019. Its gold reserves as of 2019 were 2,389,000 ounces. Canadian
Malartic is a large-tonnage, low-grade Archean gold system, consisting of a widespread
shell of disseminated gold-bearing pyrite mineralization hosted by porphyritic felsic to
intermediate intrusions and altered metasediments.
• Lamaque is an underground gold mine owned by Eldorado Gold Corp., which declared
commercial production on March 31, 2019. It is about 6 km north of the Lac Simard
Property. Lamaque is expected to mine and process over 615,000 tonnes of ore at an
average grade of 7.0 grams per tonne gold. Gold is found within quartz-tourmaline-
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
carbonate veins, which are hosted within a series of sub-parallel sub- vertical shear
zones centered around a steeply plunging cylinder-shaped porphyritic diorite.
The Property consists of 46 contiguous mining titles with a total area of 2560 hectares. The
Property is largely underlain by metasediments of the Neoarchean Pontiac Group. Narrow
ultramafic intrusives and/or volcanics occur at the west end of the Property. Several Biscotasing
Dikes cross the Property. A regional fault which parallels the Larder Lake -Larder Lake Cadillac
Fault system runs across the west half of the Property. The Property is road accessible and is
crossed by an all-weather road.
Terms of the agreement include 5,000,000 shares at a deemed price of .115 CAD and $25,000.
The shares will be subject to a four-month hold.
Scientific and technical information contained in this press release was reviewed and approved
by Mr. Helgi Sigurgeirson, Victory geologist, and a "qualified person" under NI 43-101.
For further information, please contact:
Ivy Lu
Investor Relations
David Lane
President
Telephone: +1 (236) 317 2822
E-mail: [email protected]
About Victory Resources Corporation
VICTORY RESOURCES CORPORATION (CSE: VR) is a publicly traded diversified investment corporation
with mineral interests in North America. The company is also currently seeking other exploration
opportunities, preferably in Canada.
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 st atements 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 or performance to materially differ from any future results or performance expressed or implied
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
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 result of new information, fu ture events, or otherwise, except as required by securities
laws.