Resources will earn a 70% undivided interest in The
Reforma property as part of an option agreement after the
expenditure of a USD $2,500,000 work program to be
completed before Q1 2013."
Victory Resources Corporation
(TSXV:VR - OTCQX:VRCFF) is a growth focused mineral exploration
company creating value through the exploration and development
of the Reforma property in Sinoala, Mexico and the AU-WEN
project in Merritt, British Colombia.
The most advanced project is
the Reforma property which was formally owned and operated by
“Industrias Peñoles S.A.B. de C.V. (Peñoles), of Mexico.
The Reforma property is a 6,987 hectare land package, located
within a regional northwest trending graben structure which
extends through eastern portion of Sinaloa State, Mexico in
the Choix Mining District.
A drilling program is underway
and ongoing to confirm the mineralization that Penoles
experienced while the mine was in operation from 1968-1980.
The drilling program will include geochemical testing on other
highly prospective mineral deposits including the southern
extension of the Reforma mine, the Reforma South property and
the Chapote property. The company expects to announce the
results of the drill program on a regular basis throughout the
Between 1968 to 1980 Peñoles
produced 2 million tons grading 91.62 g/t Ag, 1.90% Pb, 7.44%
Zn & 0.63% Cu on the Reforma property. The management of
Victory Resources believes that these results will be
confirmed for the Reforma mine property and also on
significant extensions that will prove the Reforma property to
be a world-class economically viable mine.
management team with proven track record.
company’s main focus is on the The Reforma
property located at the common boundary of Sinaloa
and Chihuahua States in west central Mexico. The
concessions cover a total area of 7,226 hectares.
Resources will earn a 70% undivided interest in The
Reforma property as part of an option agreement after
the expenditure of a USD $2,500,000 work program to
be completed before Q1 2013.
The Reforma property
has a history of commercial production from
underground mining that lasted 13years after which at
closure produced 2, 000,000 tonnes of complex ore
with historical average grades of 91.62gpt Ag, 1.90%
Pb, 7.44% Zn and 0.63% Cu.
The drill program is
underway to determine the extension deposits to the
previously opererating Reforma mine. The first set of
results from the drill program was announced in July
The Reforma property
is located just west of the Bahuerachi copper
deposit which was sold in 2007 for $214M.
The Victory Resources chart
has been in a solid uptrend for more than two years. The move
throughout 2011 and 2012 has formed a large cup and handle
continuation pattern which has the chart on radar to break
through resistance and make new all-time highs.
Between 1968 to 1980
Peñoles produced 2 million tons grading 91.62 g/t Ag,
1.90% Pb, 7.44% Zn & 0.63% Cu on the Reforma
property. The management of Victory Resources believes
that these results will be confirmed for the Reforma
mine property and also on significant extensions that
will prove the Reforma property to be a world-class
economically viable mine.
In 2005 Victory
successfully negotiated an arrangement to acquire 100%
of the AU-WEN Property based on the encouraging historic
exploration results that are indicators to potentially
economic copper/gold skarn or porphyry mineral deposits.
Wally Boguski, President
Wally Boguski has over 30 years experience in the mining and
banking industry. Wally has been involved in strategic
development planning and in capital market financing of early
stage mining companies for the past 24 years. Wally has worked
on several mining projects in Canada and Mexico. Wally began
his career in the banking sector and managed financing and
credit facilities for commodities related companies in Canada
for a major Canadian bank and a credit union organization .
Wally’s education is in business administration, commercial
law and accounting.
Alphonse Ruggiero, Chief
Al Ruggiero is a financial consultant with an extensive
accounting and finance background. He is a CPA and has worked
with major accounting firms as an audit manager, as a director
of internal audits for a major corporation and has worked
extensively in Continuing Professional Education in
association with the American Institute of Certified Public
John Thornton, V.P. Project
John Thornton has almost fifty years experience in mineral
exploration experience. John has been involved at a senior
level for over $3 billion of mining projects worldwide in his
career including the $1 billion Dawson Creek project for
Dennison Mines between 1979-1981. John has overseen several
other major projects including the Bajo de la Alumbrera mine
in Argentina, the Cananea Mine in Mexico, the El Abra mine in
Chile, the Kitsault Molybdenum Mine in British Columbia, the
Mt Newman Iron Ore Mine in Australia and the Roan Consolidated
Mines in Zambia. John is a well-respected thought leader in
the mining industry and has lectured at Universities around
the world on the topic of mining exploration.
Corey Safran, V.P.
Corey Safran has over 18 years experience in the capital
markets industry and commodities trading industry combined.
Between 1993 to 2006, Corey held investment advisory positions
at Nesbitt Burns and Merrill Lynch Canada (bought by CIBC
World Markets) working with small cap companies to develop
their business and capital markets strategy. Between
2006-2011, Corey held the position of Executive Vice President
for Vican Trading, whose primary business is the brokerage of
primary and secondary metals worldwide.
includes forward-looking statements that reflect Victory
Resources Corp.'s current expectations about its
future results, performance, prospects and opportunities.
Victory Resources Corp. has tried to identify these
forward-looking statements by using words and phrases such as
"may," "will," "expects,"
"intends," "estimates," "plan,"
"preliminary," "we are confident" or
similar expressions. These forward-looking statements are
based on information currently available and are subject to a
number of risks, uncertainties and other factors that could
cause Victory Resources Corp.'s actual results,
performance, prospects or opportunities to differ materially
from those expressed in, or implied by, these forward-looking
statements. These risks, uncertainties and other factors
include, without limitation, the Company's growth expectations
and ongoing funding requirements, and specifically, the
Company's growth prospects with scalable customers, and those
outlined above. Other risks include the Company's limited
operating history, the Company's history of operating losses,
consumers' acceptance, the Company's use of licensed
technologies, risk of increased competition, the potential
need for additional financing, the terms and conditions of any
financing that is consummated, the limited trading market for
the Company's securities, the possible volatility of the
Company's stock price, the concentration of ownership, and the
potential fluctuation in the Company's operating results.
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