VANCOUVER, BC – VICTORY RESOURCES CORP (the "Company") is pleased to announce that it has completed the diamond drilling of six holes totaling 713 meters on its 2010 exploration program on the Wen prospect of the Toni property located 30 kilometres southeast of Merritt and eight kilometres east of the historic Aspen Grove mining camp in south-central British Columbia. The holes are in the process of being logged, sampled, split and the samples sent in to the lab for rush assaying. Drilling on the Wen prospect is suspended until assay results are available to evaluate and organize the project for a future exploration program.

 

The company has also mobilized a geological crew on its optioned Reforma Mine property located in Sinaloa, Mexico. The property zone review of the Reforma mine site, Reforma South, and El Chapote will result in recommendations for future start up production. The company is also pleased to announce it is in negotiations to purchase a mill to facilitate its future production requirement. Currently the company is negotiating on four processing mills ranging in size from 250 tonnes per day to 1000 tonnes per day.

 

The Reforma property is a 6,987 hectare land package which extends through the eastern portion of Sinaloa State, Mexico in the Choix Mining District. Industrias Peñoles S.A.B. de C.V. (Peñoles), the former owner and operator, reported that during the 1968 to 1980 production period a total of 1,800,000 tonnes of ore was mined and processed at an average grade of 91.62 g/t Ag, 1.90% Pb, 7.44% Zn, and 0.63% Cu. At the time of the mine closure in 1980 Peñoles reported a remaining mineral reserve of 52,565 tonnes grading 104.91g/t Ag, 1.87% Pb, 5.73% Zn, and 0.58% Cu. No other production is recorded after that date with the zone remaining open-ended.

 

The Reforma South mineral zone, which is the southern extension of the Reforma Mine mineral zone, 150 metres of the mineral zone was developed (Peñoles historic records) averaging 4.31 metres wide and is open-ended to strike and to depth with an estimated mineral resource of 60,000 tonnes averaging 15.21 g/t Ag, 3.04% Pb, 5.20% Zn, and 0.20% Cu. Prior to the abrupt termination of production at the Reforma, Penoles accessed the Reforma South zone by a pre-production ramp which is within 10 metres below the mineral zone.

 

In addition, Peñoles historic records indicate the El Chapote zone, located within two kilometers of the Reforma Mine site, hosts a mineral resources of 243,640 tonnes (Open-ended) of 1.51% Cu, 30.00 g/t Ag, 0.25% Pb, and 0.50% Zn.

 

 

The company has granted 1,357,869 options to directors, officers and consultants under its 2010 stock option plan. The options may be exercised at a price of 25 cents for up to five years, subject to vesting restrictions and percentage limits imposed by regulatory requirements or the plan, as applicable.

 

Laurence Sookochoff, P. Eng., a Qualified Person (QP) as defined by National Instrument Policy 43-101, is responsible for the technical information contained in this News Release.

 

 

 

This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Victory Resources Corp. which may cause actual results, performance or achievements of Victory Resources Corp. to be materially different from the results, performance or expectation implied by these forward looking statements.  Such uncertainties.  Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
 

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