Victory Capital and Acapulco GOLD Announce Passing of David Jones, Director of Acapuclo GOLD

VICTORY CAPITAL AND ACAPULCO GOLD ANNOUNCE PASSING OF DAVID JONES, DIRECTOR OF

ACAPUCLO GOLD

TORONTO, ONTARIO – January 25, 2022 – Victory Capital Corp . (TSX.V: VIC.P) (the “ Company” or

“Victory”), announces with great sadness the passing of David Jone s, co-founder of Acapulco Gold

Corp. (“Acapulco”), the target company of the proposed qualifying transaction with the Company (the

“Transaction”), and a proposed director and member of the geological team of the anticipated listed

issuer.

The Company’s and Acapulco’s thoughts are with David’s family at this difficult time.

Further to the Company’s news releases dated, February 8, 2021, August 6, 2021, October 14 2021,

November 9, 2021, and December 9, 2021 with respect to the Transaction , Acapulco and Vi ctory

expect to constructively work with David’s estate towards the completion of the proposed

Transaction.

About Victory Capital Corp.

Victory is a capital pool company created pursuant to the policies of the Exchange. It does not own any

assets, other than cash or cash equivalents and its rights under the merger agreement for the

Proposed Transaction. The principal business of Victory is to identify and evaluate opportunities for

the acquisition of an interest in assets or businesses and, on ce identified and evaluated, to

negotiate an acquisition or participation subject to acceptance by the Exchange so as to complete a

Qualifying Transaction in accordance with the policies of the Exchange.

ON BEHALF OF THE BOARD OF DIRECTORS:

Zelong (Roger) He

Chief Executive Officer

Email: [email protected]

Forward-Looking Information

This news release contains certain forward -looking statements within the meaning of Canadian

securities laws, including statements regarding the expectation of the com pletion of the proposed

reverse takeover transaction . Forward -looking statements are based on estimates and assumptions

made by Victory in light of its experience and perception of current and expected future

developments, as well as other factors that Victory believes are appropriate in the circumstances.

Many factors could cause Victory’s results, performance or achievements to differ materially from

those expressed or implied by the forward looking statements, including: failure to receive all the

necessary approvals to completed the proposed transaction. Forward-looking statements are based

on the expectations and opinions of the Company’s management on the date the statements are

made. The assumptions used in the preparation of such statements, 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 expressly disclaims any intention or obligation to

update or revise any forward -looking statements whether as a result of new information, future

events or otherwise.

The forward -looking information contained in this news release represents the expectations of the

company as of the date of this news release and, accordingly, is subject to change after such date.

Readers should not place undue importance on forward-looking information and should not rely upon

this information as of any other date. While the company may elect to, it does not undertake to

update this information at any particu lar time except as required in accordance with applicable

securities legislation.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the ad equacy or accuracy of this

press release.