TORONTO, March 24, 2020 (GLOBE NEWSWIRE) — Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) has implemented a thorough COVID-19 action plan at all work sites including the Eagle Gold Mine in Yukon, Canada, in an effort to protect the health and well-being of Victoria’s workforce and all communities of Yukon. This plan will continue to be modified as circumstances evolve. The communication summarized below was distributed to all Company employees, vendors, community members and other stakeholders, and outlines steps Victoria has taken to date.
Victoria Gold COVID-19 Response
Victoria continues to actively respond to the dynamic novel coronavirus (COVID-19) crisis and is monitoring advice and regulations from Federal, Provincial and Territorial governments as well as the World Health Organization and medical professionals. In light of the increasing number of cases throughout Canada and abroad, we have instituted strict Prevention Measures to protect our workforce and the local communities of the Yukon. Importantly, these Preventative Measures have, in part, enabled Eagle Mine operations to continue while mitigating the risk of COVID-19 to our employees, the community and all stakeholders.“In order to reduce COVID-19 risk and maintain operations, we have been, and continue to be, very proactive in our implementation of risk mitigation measures at the Eagle Mine site, our offices, as well as throughout our supply chain,” stated John McConnell, CEO. “As this evolving global health and financial crisis unfolds we are very committed to doing our part to mitigate and manage COVID-19 risks. We will protect the safety of our workforce, contractors, and their families and communities while we remain open for business.”Recently Enacted Protocols:Immediate four week in, four week out crew rotation schedulesAir travel to and from Eagle exclusively via private charter transportation. Designated pick-up points in western Canada have been arranged. This eliminates the majority of commercial travel;All on-site and offsite employees and contractors are instructed to practice social distancing;All employees and contractors travelling to Eagle Mine are required to complete flight pre-screening conducted by a third-party professional occupational health and safety services provider;All employees and contractors leaving the Eagle Mine are required to complete the screenings prior to departure;Restricted and controlled access for all employees and contractors of Victoria to all Yukon Communities.Established Protocols which remain in effect include: Travel and QuarantineAvoid all non-essential travel outside of Canada.Access to the Eagle Mine is off-limits to anyone who has travelled anywhere outside of Canada until they have completed a mandatory 14-day self-quarantine. Any exception must be approved in writing by the CEO.Prior to returning to Eagle, all employees and contractors will undergo pre-screening. We will be contacting all returning staff to ensure they are not experiencing any COVID-19 related symptoms, have had no non-essential travel out of country in the past 14 days and otherwise have not been in contact with a person who has been confirmed to have contracted COVID-19.On-site Medical Services at Eagle MineThe Eagle Mine is located in central Yukon and as it needs to be self-sufficient, we maintain an on-site primary care clinic that can respond effectively with emergency and non-emergency care for our site workforce. The Eagle mine site has an accommodation wing that will be used for quarantine purposes if required.Medical staff include remote-care paramedics under the guidance of off-site physicians. Physicians are on-call to provide guidance or instruction to on-site employees and contractors as needed.Clinic staff are monitoring the COVID-19 crisis and are engaged with Yukon Health and medical professionals to discuss and manage Victoria’s operational response.Limit Access to Site; Corporate Employees, Consultants, Salespeople, & ContractorsVisitors are not permitted to site without authorization.All employees and contractors that are reasonably able to perform their duties remotely will work from home.Contractors at site have all committed to following the company protocols.Operations
The Eagle Mine continues to operate during this extraordinary period. Management will continue to monitor the situation and keep stakeholders informed of any changes to this position. Vancouver, Toronto, and Whitehorse OfficesAll employees in the Vancouver, Toronto, and Whitehorse offices are recommended to work from home.Business travel outside of rotational site travel has been cancelled.CommunicationVictoria appreciates the particular risks that COVID-19 presents to our remote and dispersed workforce and the remote communities in Yukon where access to healthcare can be geographically challenging.We are committed to keeping our employees and contractors informed and updated on the crisis and engaging with neighboring communities in the region.About the Dublin Gulch Property
Victoria Gold’s 100%-owned Dublin Gulch gold property (the “Property”) is situated in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 85 kilometers 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 kilometers, and is the site of the Company’s Eagle and Olive Gold Deposits. The Eagle Gold Mine is Yukon’s newest operating gold mine. The Eagle and Olive deposits include Proven and Probable Reserves of 3.3 million ounces of gold from 155 million tonnes of ore with a grade of 0.65 grams of gold per tonne, as outlined in a National Instrument 43-101 Technical Report for the Eagle Gold Mine dated December 3, 2019. The Mineral Resource under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) for the Eagle and Olive deposits has been estimated to host 227 million tonnes averaging 0.67 grams of gold per tonne, containing 4.7 million ounces of gold in the “Measured and Indicated” category, inclusive of Proven and Probable Reserves, and a further 28 million tonnes averaging 0.65 grams of gold per tonne, containing 0.6 million ounces of gold in the “Inferred” category.Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.For Further Information Contact:
John McConnell
President & CEO
Victoria Gold Corp
Tel: 416-866-8800
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