About Victoria Gold

Victoria Gold (VGCX) is Leading Yukon’s New Gold Rush. The company’s 100% owned Eagle Gold Mine in central Yukon poured it’s first gold in Q3/19 and achieved commercial production on July 1, 2020. Eagle is an open-pit, heap leach operation located approximately 375 kilometers north of the capital city of Whitehorse. Despite the COVID-19 pandemic, VGCX successfully ramped up the largest gold mine in Yukon history into production. As at December 31, 2021 the Reserve is 2.7 million ounces of gold (133 m tonnes grading 0.65 g/t). The deposit is open at depth and along strike. VGCX is implementing Project 250K which will increase production to a rate of 250,000 ounces per year during 2023. Exploration potential of the greater Dublin Gulch property is excellent and includes priority targets Olive-Shamrock, Nugget/Raven and Lynx.

  1. Expect significant production growth in 2022 through 2024 to reach a production rate of 250k ounces/year

    Achieved over 40% production growth in 2021.

  1. Best-in-class Heap Leach Operations Globally

    Higher grade and lower strip ratio compared to average oxide heap leach projects in production.

  1. Expect to Generate Significant Free Cash Flow

    Repaid $61 million of debt in 2021.

  1. District Scale Potential has Resulted in Great Exploration Success

    Multiple satellite deposits, led by the Raven target, exist with mineralization potential above and beyond the current reserve estimates.

  1. Delivering Positive ESG Results

    Very low carbon emissions per ounce of gold. Focus on further improving sound social and governance practices.

THE VICTORIA GOLD
ADVANTAGE

  • Ramping Up to +200,000 oz/year
  • Generate Significant Free Cash Flow
  • Focused on Debt Repayment
  • Increase Production Rate to 250k during 2023
  • Mine Life Extension to 2040
  • Grade and Recovery Reconciling
  • Robust Exploration Program
  • Blue Chip Shareholder Registry
  • ESG Leader

 

Victoria Gold

Board Of
Directors

Victoria Gold's Board of Directors have deep and varied experience spanning mine operations, engineering, exploration, finance, law and corporate strategy. This proactive and dynamic group of directors regularly engages with and challenges one another and the management team to ensure the full breadth of their expertise is utilized to benefit the Company.

T. Sean Harvey T. Sean Harvey Chairman of the Board

Sean brings his boundless energy and passion for the industry to our Board. He has a depth of experience in the mining industry having spent 10 years in investment and merchant banking primarily focused on the mining sector. For the past twenty years he has held senior executive and Board positions with a number of mining companies, including TVX Gold Inc., Atlantico Gold Inc. and Orvana Minerals Corp. Sean also serves as a director of Perseus Mining Ltd. and Serabi gold Plc. Sean has an M.B.A in Finance and an LL.B specializing in tax and corporate law.

John McConnell John McConnell President, Director & CEO

John McConnell's +40 years of mining experience is mostly in Canada's northern territories. Previously, he was President & CEO of Western Keltic Mines until it was acquired by Sherwood Copper; VP, NWT Projects for De Beers Canada primarily responsible for permitting and development of the Snap Lake Diamond Mine; Breakwater Resources Ltd in operations at the Nanisivik Zinc & Lead Mine on Baffin Island; and Strathcona Mineral Services Ltd.

Mr. McConnell is the 2021 Winner of AME BC's prestigious EA Scholtz Award for Excellence in Mine Development for his role in building the Eagle Gold mine.

A graduate of the Colorado School of Mines, with a B.Sc. in Mining Engineering Mr. McConnell is also a Director of Lahontan Gold Corp and Abacus Mining & Exploration Corp.

Mike McInnis Mike McInnis Director

Mike brings over 35 years of experience in mineral exploration in North America and overseas to the Victoria board. He has over 25 years of experience in managing public resource companies and has a demonstrated track record in acquiring and developing high quality mineral projects. He serves on the Board of Abacus Mining & Exploration Corp., and Canasil Resources Inc.

Christopher Hill Christopher Hill Director

Chris held senior management positions at Kinross Gold Corporation from 1998 through 2010 and Aecon until 2016. Prior to this, Chris spent time in the treasury department of Barrick Gold Corporation and was a trader for Lac Minerals and the Bank of Nova Scotia. Chris holds a Masters of Business Administration from the University of Toronto and a Bachelor of Business Administration from Wilfred Laurier University.

Letha J. MacLachlan Q.C. Letha J. MacLachlan Q.C. Director

Letha gained a wealth of experience in the mining industry through the practice of regulatory, environmental, and Aboriginal law in northern Canada.

For 35 years she practiced law and served on regulatory tribunals with a focus on resource development. She provided strategic advice and representation in relation to environmental impact assessments and approvals of mining and petroleum projects, permitting, and benefit agreements with affected Aboriginal communities and governments. Letha was chair of the federal Panel that reviewed the environmental impact assessment of Canada's first diamond mine and has worked for several diamond and gold mining companies with projects north of 60o.

Letha served as a director on the board of a TSX listed renewable energy company and on the boards of several not-for-profit organizations.

Joseph Ovsenek Joseph Ovsenek Director

Joe has more than 25 years of experience in the mining industry, and is presently the President & CEO of Central Timmins Exploration Corp. Previously, Joe was President and CEO of Pretium Resources Inc. where he led the advance of the high-grade gold Brucejack Mine which has been operating profitably since commercial start-up in 2017. Joe began his nine-year tenure at Pretium in 2011 as Chief Development Officer and led the financing of the company from exploration stage to operations and was subsequently appointed President in 2015 and President and CEO in 2017. Prior to Pretium, he served for 15 years in senior management roles for Silver Standard Resources Inc., lastly as Senior Vice President, Corporate Development responsible for the sale of the Brucejack and Snowfield assets to the newly created Pretium Resources Inc. Joe holds a Bachelor of Applied Science degree from the University of British Columbia and a Bachelor of Laws degree from the University of Toronto. He is a registered member of the Association of Professional Engineers and Geoscientists of British Columbia.

Stephen Scott Stephen Scott Director

Stephen has more than 30 years of global experience in the mining industry, and is currently President and CEO of Entrée Resources Ltd. Prior to joining Entrée, Stephen spent 15 years with the Rio Tinto Group in various international senior executive roles. Most recently with Rio Tinto, he was based in Canada responsible for numerous corporate acquisition and divestment transactions and prior to that was President & Director of Rio Tinto Indonesia overseeing all of Rio Tinto’s activities in Indonesia including its joint venture interest in the Grasberg copper gold mine. Stephen is an experienced public company director and currently serves on the Board of Directors of Atalaya Mining Plc. Stephen holds a Bachelor of Business (Accounting) degree from Curtin University in Western Australia.

T. Sean Harvey

T. Sean Harvey

Chairman of the Board

Sean brings his boundless energy and passion for the industry to our Board. He has a depth of experience in the mining industry having spent 10 years in investment and merchant banking primarily focused on the mining sector. For the past twenty years he has held senior executive and Board positions with a number of mining companies, including TVX Gold Inc., Atlantico Gold Inc. and Orvana Minerals Corp. Sean also serves as a director of Perseus Mining Ltd. and Serabi gold Plc. Sean has an M.B.A in Finance and an LL.B specializing in tax and corporate law.

John McConnell

John McConnell

President, Director & CEO

John McConnell's +40 years of mining experience is mostly in Canada's northern territories. Previously, he was President & CEO of Western Keltic Mines until it was acquired by Sherwood Copper; VP, NWT Projects for De Beers Canada primarily responsible for permitting and development of the Snap Lake Diamond Mine; Breakwater Resources Ltd in operations at the Nanisivik Zinc & Lead Mine on Baffin Island; and Strathcona Mineral Services Ltd.

Mr. McConnell is the 2021 Winner of AME BC's prestigious EA Scholtz Award for Excellence in Mine Development for his role in building the Eagle Gold mine.

A graduate of the Colorado School of Mines, with a B.Sc. in Mining Engineering Mr. McConnell is also a Director of Lahontan Gold Corp and Abacus Mining & Exploration Corp.

Mike McInnis

Mike McInnis

Director

Mike brings over 35 years of experience in mineral exploration in North America and overseas to the Victoria board. He has over 25 years of experience in managing public resource companies and has a demonstrated track record in acquiring and developing high quality mineral projects. He serves on the Board of Abacus Mining & Exploration Corp., and Canasil Resources Inc.

Christopher Hill

Christopher Hill

Director

Chris held senior management positions at Kinross Gold Corporation from 1998 through 2010 and Aecon until 2016. Prior to this, Chris spent time in the treasury department of Barrick Gold Corporation and was a trader for Lac Minerals and the Bank of Nova Scotia. Chris holds a Masters of Business Administration from the University of Toronto and a Bachelor of Business Administration from Wilfred Laurier University.

Letha J. MacLachlan Q.C.

Letha J. MacLachlan Q.C.

Director

Letha gained a wealth of experience in the mining industry through the practice of regulatory, environmental, and Aboriginal law in northern Canada.

For 35 years she practiced law and served on regulatory tribunals with a focus on resource development. She provided strategic advice and representation in relation to environmental impact assessments and approvals of mining and petroleum projects, permitting, and benefit agreements with affected Aboriginal communities and governments. Letha was chair of the federal Panel that reviewed the environmental impact assessment of Canada's first diamond mine and has worked for several diamond and gold mining companies with projects north of 60o.

Letha served as a director on the board of a TSX listed renewable energy company and on the boards of several not-for-profit organizations.

Joseph Ovsenek

Joseph Ovsenek

Director

Joe has more than 25 years of experience in the mining industry, and is presently the President & CEO of Central Timmins Exploration Corp. Previously, Joe was President and CEO of Pretium Resources Inc. where he led the advance of the high-grade gold Brucejack Mine which has been operating profitably since commercial start-up in 2017. Joe began his nine-year tenure at Pretium in 2011 as Chief Development Officer and led the financing of the company from exploration stage to operations and was subsequently appointed President in 2015 and President and CEO in 2017. Prior to Pretium, he served for 15 years in senior management roles for Silver Standard Resources Inc., lastly as Senior Vice President, Corporate Development responsible for the sale of the Brucejack and Snowfield assets to the newly created Pretium Resources Inc. Joe holds a Bachelor of Applied Science degree from the University of British Columbia and a Bachelor of Laws degree from the University of Toronto. He is a registered member of the Association of Professional Engineers and Geoscientists of British Columbia.

Stephen Scott

Stephen Scott

Director

Stephen has more than 30 years of global experience in the mining industry, and is currently President and CEO of Entrée Resources Ltd. Prior to joining Entrée, Stephen spent 15 years with the Rio Tinto Group in various international senior executive roles. Most recently with Rio Tinto, he was based in Canada responsible for numerous corporate acquisition and divestment transactions and prior to that was President & Director of Rio Tinto Indonesia overseeing all of Rio Tinto’s activities in Indonesia including its joint venture interest in the Grasberg copper gold mine. Stephen is an experienced public company director and currently serves on the Board of Directors of Atalaya Mining Plc. Stephen holds a Bachelor of Business (Accounting) degree from Curtin University in Western Australia.

Victoria Gold

Independent
Advisors

Patrick Downey Patrick Downey Independent Advisor

Patrick brings over 30 years of international experience in the resource industry. He has held senior positions at Elgin Mining Inc., Aura Minerals Inc., Viceroy Exploration Ltd. before its acquisition by Yamana Gold Inc., Consolidated Trillion Resources Ltd. and Oliver Gold Corporation, where he negotiated their successful merger to form Canico Resource Corp.. Patrick has also held numerous senior engineering positions at many large-scale gold mining operations and is currently President & CEO of Orezone Gold Corporation since May 2017. Mr. Downey is a member of the board of Dalradian Resources, Pan Global Resources Inc., GFG Resoucres Inc. and Orezone Resources and he holds a Bachelor of Science (Hon.) degree in Engineering from Queen's University.

Patrick Downey

Patrick Downey

Independent Advisor

Patrick brings over 30 years of international experience in the resource industry. He has held senior positions at Elgin Mining Inc., Aura Minerals Inc., Viceroy Exploration Ltd. before its acquisition by Yamana Gold Inc., Consolidated Trillion Resources Ltd. and Oliver Gold Corporation, where he negotiated their successful merger to form Canico Resource Corp.. Patrick has also held numerous senior engineering positions at many large-scale gold mining operations and is currently President & CEO of Orezone Gold Corporation since May 2017. Mr. Downey is a member of the board of Dalradian Resources, Pan Global Resources Inc., GFG Resoucres Inc. and Orezone Resources and he holds a Bachelor of Science (Hon.) degree in Engineering from Queen's University.

Victoria Gold

Management

Victoria Gold's Management team has experience in all phases of the mining process, specifically in Canada's arctic. They have mine-building know-how from exploration through to mine operations and with a demonstrated ability to do it in an environmentally and socially responsible manner.Management is driven to continually improve value for all stakeholders, including investors, First Nations and employees.

John McConnell John McConnell President, Director & CEO

John McConnell's +40 years of mining experience is mostly in Canada's northern territories. Previously, he was President & CEO of Western Keltic Mines until it was acquired by Sherwood Copper; VP, NWT Projects for De Beers Canada primarily responsible for permitting and development of the Snap Lake Diamond Mine; Breakwater Resources Ltd in operations at the Nanisivik Zinc & Lead Mine on Baffin Island; and Strathcona Mineral Services Ltd.

Mr. McConnell is the 2021 Winner of AME BC's prestigious EA Scholtz Award for Excellence in Mine Development for his role in building the Eagle Gold mine.

A graduate of the Colorado School of Mines, with a B.Sc. in Mining Engineering Mr. McConnell is also a Director of Lahontan Gold Corp and Abacus Mining & Exploration Corp.

Marty Rendall, CFA Marty Rendall, CFA Chief Financial Officer

Marty joined Victoria in 2007 as Chief Financial Officer. Throughout his career, Marty has been involved in every stage of a mine's life from early-stage exploration through studies and permitting into construction, operations, and closure. Marty has experience with gold, diamonds and base metals and previous employers include De Beers Canada and Breakwater Resources. Marty holds the Chartered Financial Analyst designation along with a Bachelor of Business Administration degree.

Mark Ayranto Mark Ayranto Chief Operating Officer

Mark has 20 years project development experience including ten years' experience working in the Yukon, in which he has been focused on project development including First Nations, engineering studies, and permitting. In 2007, before Victoria Gold, Mark completed the first modern exploration agreement with the First Nation of Na-cho Nyak Dun as well as the Comprehensive Cooperation Benefits Agreement (CBA) in 2011 to develop the Eagle Gold Mine. Mark is also founder and chairman of Banyan Gold and a chairman of the Yukon Minerals Advisory Board.

PAUL D. GRAY, P.Geo. PAUL D. GRAY, P.Geo. Vice President, Technical Services

Paul D. Gray, P.Geo., holds a Bachelor of Science (Honours) degree from Dalhousie University and is a member in good standing with the Association of Professional Engineers and Geoscientists of British Columbia. Paul has been the Principal of Paul D. Gray Geological Consultants for over 15 years working with project Worldwide, with a particular focus on Northern Canada exploration projects, from permitting through execution. Paul has worked extensively as an exploration geologist in the Mineral Exploration Industry in Canada, the United States, Asia, and Central and South America for the past 27 years, concentrating on precious metals, base metals, and uranium exploration and development. Paul has been working in the Yukon and Northwest Territories with advanced gold exploration projects since 2001 and has been part of the Victoria Gold team since 2013.

Dave Rouleau Dave Rouleau Vice President - Operations

Dave has more than 30 years of operational and management experience in the mining industry. Previously, he was Vice President of Operations with Barkerville Gold Mines; his experience includes five (5) years with Taseko as Vice President of Operations primarily responsible for the Gibraltar Mine. Prior to this he was a key member of the Canadian Natural Resources Senior Management team developing the Horizon Oil Sands Project in Fort McMurray. Dave's background also includes 17 years with Teck Cominco in various operational and engineering roles at a number of their mine sites. Dave holds a BSc in Mine Engineering from the South Dakota School of Mines and a Mine Technology Diploma from the Haileybury School of Mines.

Adam Melnyk Adam Melnyk Vice President Business Development

Adam Melnyk has over 15 years of experience in the mining industry. He was previously Head of Mining Research for a precious-metals focused investment fund and has worked in Equity Research since 2007 with both bank-owned and independent investment dealers. Prior to the financial industry, Adam was employed as an Engineer with Golder Associates and worked in the Exploration Division of Goldcorp's Red Lake mine.

Adam holds a B.Sc. in Geological Engineering (Hons) from Queen's University in Kingston, Ontario and is registered as a Professional Engineer (P.Eng.) with the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC). He is also a CFA Charterholder.

Hugh Coyle Hugh Coyle Vice President Environment

Hugh has 15 years of mining industry related environmental, land management and regulatory experience in Yukon, the United States and Guyana. Hugh started with StrataGold Corporation in 2006 and continued when the company was acquired by Victoria Gold in 2009. He was instrumental in acquiring all exploration and mining licenses and permits for the Eagle Gold Mine and our regional projects. Prior to entering the mining industry, Hugh obtained extensive regulatory experience working with the Queensland Government as an Environmental Health Officer. Hugh holds a Bachelor of Health Science – Environmental Health from Queensland University of Technology.

Jim Dainard Jim Dainard Vice President Finance

Jim is a Chartered Professional Accountant with over 20 years’ experience in finance and accounting, 12+ of those years dedicated to the mining industry. He has been responsible for the design and implementation of financial reporting, treasury, budgeting, forecasting, and managing the day-to-day corporate operations. Jim commenced his career in public accounting, moving to IT and financial services before transitioning to the resource sector and joining the Victoria Gold team in 2009. Jim holds a Bachelor of Accounting (Honours) degree from the Goodman School of Business at Brock University.

Helena Kuikka Helena Kuikka Vice President Exploration

Helena joined Victoria in 2011 after working on several precious metal and base metal projects throughout the Yukon. During her career, she has led grassroots to late-stage exploration projects, was involved in the development of the Eagle Mine Geology and Grade Control program and served on the Yukon Technical Liaison Committee for Minerals from 2014-2019. Helena holds a BSc. degree in Geology from Simon Fraser University and is a member in good standing with Engineers and Geoscientists British Columbia.

John McConnell

John McConnell

President, Director & CEO

John McConnell's +40 years of mining experience is mostly in Canada's northern territories. Previously, he was President & CEO of Western Keltic Mines until it was acquired by Sherwood Copper; VP, NWT Projects for De Beers Canada primarily responsible for permitting and development of the Snap Lake Diamond Mine; Breakwater Resources Ltd in operations at the Nanisivik Zinc & Lead Mine on Baffin Island; and Strathcona Mineral Services Ltd.

Mr. McConnell is the 2021 Winner of AME BC's prestigious EA Scholtz Award for Excellence in Mine Development for his role in building the Eagle Gold mine.

A graduate of the Colorado School of Mines, with a B.Sc. in Mining Engineering Mr. McConnell is also a Director of Lahontan Gold Corp and Abacus Mining & Exploration Corp.

Marty Rendall, CFA

Marty Rendall, CFA

Chief Financial Officer

Marty joined Victoria in 2007 as Chief Financial Officer. Throughout his career, Marty has been involved in every stage of a mine's life from early-stage exploration through studies and permitting into construction, operations, and closure. Marty has experience with gold, diamonds and base metals and previous employers include De Beers Canada and Breakwater Resources. Marty holds the Chartered Financial Analyst designation along with a Bachelor of Business Administration degree.

Mark Ayranto

Mark Ayranto

Chief Operating Officer

Mark has 20 years project development experience including ten years' experience working in the Yukon, in which he has been focused on project development including First Nations, engineering studies, and permitting. In 2007, before Victoria Gold, Mark completed the first modern exploration agreement with the First Nation of Na-cho Nyak Dun as well as the Comprehensive Cooperation Benefits Agreement (CBA) in 2011 to develop the Eagle Gold Mine. Mark is also founder and chairman of Banyan Gold and a chairman of the Yukon Minerals Advisory Board.

PAUL D. GRAY, P.Geo.

PAUL D. GRAY, P.Geo.

Vice President, Technical Services

Paul D. Gray, P.Geo., holds a Bachelor of Science (Honours) degree from Dalhousie University and is a member in good standing with the Association of Professional Engineers and Geoscientists of British Columbia. Paul has been the Principal of Paul D. Gray Geological Consultants for over 15 years working with project Worldwide, with a particular focus on Northern Canada exploration projects, from permitting through execution. Paul has worked extensively as an exploration geologist in the Mineral Exploration Industry in Canada, the United States, Asia, and Central and South America for the past 27 years, concentrating on precious metals, base metals, and uranium exploration and development. Paul has been working in the Yukon and Northwest Territories with advanced gold exploration projects since 2001 and has been part of the Victoria Gold team since 2013.

Dave Rouleau

Dave Rouleau

Vice President - Operations

Dave has more than 30 years of operational and management experience in the mining industry. Previously, he was Vice President of Operations with Barkerville Gold Mines; his experience includes five (5) years with Taseko as Vice President of Operations primarily responsible for the Gibraltar Mine. Prior to this he was a key member of the Canadian Natural Resources Senior Management team developing the Horizon Oil Sands Project in Fort McMurray. Dave's background also includes 17 years with Teck Cominco in various operational and engineering roles at a number of their mine sites. Dave holds a BSc in Mine Engineering from the South Dakota School of Mines and a Mine Technology Diploma from the Haileybury School of Mines.

Adam Melnyk

Adam Melnyk

Vice President Business Development

Adam Melnyk has over 15 years of experience in the mining industry. He was previously Head of Mining Research for a precious-metals focused investment fund and has worked in Equity Research since 2007 with both bank-owned and independent investment dealers. Prior to the financial industry, Adam was employed as an Engineer with Golder Associates and worked in the Exploration Division of Goldcorp's Red Lake mine.

Adam holds a B.Sc. in Geological Engineering (Hons) from Queen's University in Kingston, Ontario and is registered as a Professional Engineer (P.Eng.) with the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC). He is also a CFA Charterholder.

Hugh Coyle

Hugh Coyle

Vice President Environment

Hugh has 15 years of mining industry related environmental, land management and regulatory experience in Yukon, the United States and Guyana. Hugh started with StrataGold Corporation in 2006 and continued when the company was acquired by Victoria Gold in 2009. He was instrumental in acquiring all exploration and mining licenses and permits for the Eagle Gold Mine and our regional projects. Prior to entering the mining industry, Hugh obtained extensive regulatory experience working with the Queensland Government as an Environmental Health Officer. Hugh holds a Bachelor of Health Science – Environmental Health from Queensland University of Technology.

Jim Dainard

Jim Dainard

Vice President Finance

Jim is a Chartered Professional Accountant with over 20 years’ experience in finance and accounting, 12+ of those years dedicated to the mining industry. He has been responsible for the design and implementation of financial reporting, treasury, budgeting, forecasting, and managing the day-to-day corporate operations. Jim commenced his career in public accounting, moving to IT and financial services before transitioning to the resource sector and joining the Victoria Gold team in 2009. Jim holds a Bachelor of Accounting (Honours) degree from the Goodman School of Business at Brock University.

Helena Kuikka

Helena Kuikka

Vice President Exploration

Helena joined Victoria in 2011 after working on several precious metal and base metal projects throughout the Yukon. During her career, she has led grassroots to late-stage exploration projects, was involved in the development of the Eagle Mine Geology and Grade Control program and served on the Yukon Technical Liaison Committee for Minerals from 2014-2019. Helena holds a BSc. degree in Geology from Simon Fraser University and is a member in good standing with Engineers and Geoscientists British Columbia.

Corporate Responsibility

"Victoria Gold is committed to the success of the Eagle Gold Mine and to ensuring that its construction, operation and closure have a positive impact on the health and social conditions, employment and training in the Yukon." John McConnell, President & CEO.

Victoria Gold is extremely proud of its involvement in the community and is committed to the development and implementation of some important programs that are helping to positively shape the lives and livelihoods of community citizens and all Yukoners.

The Comprehensive Cooperation Benefits Agreement (CBA) with the First Nation of Nacho Nyak Dun, (FNNND) demonstrates this and includes the Victoria Gold and FNNND Scholarship Program, and the Cultural Awareness Program.

Victoria Gold established the Victoria Gold Yukon Student Encouragement Society’s Every Student, Every Day fund to help alleviate student absenteeism in schools throughout the Yukon.

In addition, Victoria Gold proudly sponsors and participates in many community events and initiatives.

The Eagle Gold Mine and future mine will be a strong contributor to the Yukon and its citizens for many years to come.

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