Mr. Paul Lee reports

VICTORY RESOURCES CORP ANNOUNCES $5 MILLION FINANCING COMMITMENT

Victory Resources Corp. has entered into an agreement with Global Emerging Markets (GEM) Global Yield Fund Ltd. for a $5-million financing commitment. Finances raised through this facility will be used for the drill program and the subsequent engineering work to bring the Reforma mine to feasibility. Finances will also be used for the development of the company's recently optioned Boleo property in Mexico, the Toni property located near Merritt, B.C., as well as general working capital.

Victory Resources will control the timing and maximum amount of any private placement under this agreement, and has the right, not the obligation, to drawdown on available finances. As part of the financing commitment, the company has agreed to issue five million warrants to GEM in conjunction with each private placement. The warrants will be exercisable for a period of three years from the closing of each private placement at an exercise price of 72 cents per share.

"We are very excited to have entered into this agreement with a world-class investment group like GEM. The $5-million facility will assure that our company has access to capital beyond our current drill program," said Wally Boguski, president and chief executive officer. "We look forward to the results of our ongoing drill program on the Reforma mine as well as the results from the drill program on the tailings pond from the historic Reforma mine operations."

We seek Safe Harbor.