Mr. Howard Milne reports

VICTORY VENTURES CLOSES OVERSUBSCRIBED $0.05 PRIVATE PLACEMENT

Victory Ventures Inc. has completed an oversubscribed non-brokered private placement of 4.1 million units at five cents per unit. Each unit consists of one common share and one share purchase warrant, exercisable to acquire an additional share at 10 cents per share for a two-year period. The company has paid an aggregate of $15,000 and issued 200,000 finders' warrants, which carry the same terms and conditions as the warrants.

Subject to regulatory approval, the company is carrying out an additional non-brokered private placement of five million units at six cents per unit. Each unit will consist of one common share and one share purchase warrant, exercisable to acquire an additional common share at 12 cents per share for a two-year period.

A cash finder's fee, as well as finders' warrants equal to 10 per cent of the proceeds raised will be paid to qualified finders. The finders' warrants shall contain the same terms and conditions as the warrants issued to investors.