Mr. John McConnell reports

VICTORIA GOLD PROVIDES UPDATE ON HEAP LEACH FACILITY INCIDENT

After the close of markets on Aug. 13, 2024, and further to the heap-leach facility (HLF) incident that occurred at the Eagle gold mine on June 24, 2024 (see the company's news releases dated June 24, 2024, July 4, 2024, July 12, 2024, and July 30, 2024), Victoria Gold Corp. was served with an application by the Yukon government seeking, among other things, the appointment of a receiver over the company and its property and related relief pursuant to the Courts of Justice Act (Ontario), such application being returnable before the Ontario Superior Court of Justice (commercial list) on Aug. 14, 2024. The company intends to respond to oppose the application.

About the Dublin Gulch property

Victoria Gold's 100-per-cent-owned Dublin Gulch gold property is situated in central Yukon, Canada, approximately 375 kilometres north of the capital city of Whitehorse, and approximately 85 kilometres from the town of Mayo. The property is accessible by road year-round and is located within Yukon Energy's electrical grid. The property covers an area of approximately 555 square kilometres and is the site of the company's Eagle gold mine.

We seek Safe Harbor.