Victory Begins Drilling the Loner Property in Nevada

Rhea-AI Summary

Victory Resources Corporation has initiated a diamond drilling program at the Loner Property in Nevada as of April 6, 2021. The program will include 7 to 10 drill holes, ranging from 50 to 70 meters, aimed at better characterizing mineralized zones and testing areas with anomalous soil and rock samples. The drilling is expected to clarify existing gold-bearing quartz veins associated with historical mining activities. The entire program is anticipated to take about 30-35 days, with a focus on broadening the understanding of mineralization.

Positive

• Drilling program aims to confirm intersections of gold-bearing quartz veins.
• Potential to demonstrate broader mineralization across the Loner Property.
• Current geochemical anomalies are promising and correlate with historical findings.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 8, 2021 / Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that its exploration team, led by David Deering, VP of Exploration, has commenced its diamond drilling program on the Loner Property in Nevada as of April 6^th.

The program calls for 7 to 10 short diamond drill holes in the vicinity of the historical workings which exploited the Loner vein system. The aim of the program is to better characterize the known mineralized zones, and to test the area of anomalous soil and rock sampling to the east of the main workings. The holes will vary between 50-70 meters and it is anticipated the program will take 30-35 days.

Loner Nevada Drill Program Highlights:

• The first pass drilling program underway at Loner Property is intended to confirm intersections of gold-bearing quartz veins that correlate with historical underground mining and mapped surficial gold occurrences
• It is anticipated the drill program will demonstrate broader mineralization across the width and depth of the occurrence which remains open in all directions
• As previously reported, the strong gold and arsenic geochemical anomalies are coincident with the exposed mineralization and historic workings
• It is anticipated that the drill program may define the anomalies more extensively through-out the target area

"In a short period of time, Victory has developed a fully equipped exploration team to begin this drilling program, allowing us to advance the Company's interests," said Mr. David Deering, VP Exploration for Victory. "This first pass drilling work will evaluate the best and most productive way to advance the project."

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 (SNG) ("Silver Range") as announced on 23 December 2020.

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:

Mark Ireton, President
Telephone: +1 (236) 317-2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: IR@victoryresourcescorp.com

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 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 or 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 result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Victory Resources Corporation

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FAQ

What is the purpose of the diamond drilling program at Loner Property?

The drilling program aims to characterize known mineralized zones and test areas with anomalous soil and rock sampling.

When did Victory Resources commence drilling at Loner Property?

Victory Resources began the drilling program on April 6, 2021.

How long is the drilling program at Loner Property expected to last?

The drilling program is expected to take approximately 30 to 35 days.

What is the significance of the gold-bearing quartz veins at Loner Property?

These veins correlate with historical underground mining and are essential for confirming mineralization in the area.

What is the stock symbol for Victory Resources Corporation?

The stock symbol for Victory Resources is VRCFF.