Ms. Linda Kish of Sun Valley reports

SUN VALLEY GOLD LLC: CONTROL AND DIRECTION OVER COMMON SHARES OF VICTORIA GOLD CORP.

Sun Valley Gold LLC has acquired control and direction over an aggregate of 29,000 common shares of Victoria Gold Corp. on behalf of client accounts over which it has discretionary trading authority. The common shares were acquired on the open market on Nov. 24, 2015, for a purchase price of 13 cents per share. Following completion of the acquisition described above, Sun Valley exercises control and direction over an aggregate of 50,841,570 common shares for and on behalf of client accounts, representing approximately 14.95 per cent of the issued and outstanding common shares.

The securities of Victoria Gold were acquired for investment purposes. Sun Valley may increase or decrease its ownership of securities of Victoria Gold depending upon future market conditions.