Assay results from Victory Mines’ maiden 1124 metre reverse circulation (RC) drilling program at its Clara Hills project in the Kimberley region of Western Australia have delivered broad zones of nickel mineralization with secondary copper in five of the 10 holes drilled.

Enrichment was encountered from near the surface and extended down dip within fresh rock, suggesting that high grade extensions may exist.

The host rock for nickel-copper mineralization is interpreted to be a dolerite dyke which is bounded on both sides by a muscovite mica schist with the target zone being open down dip and along strike of existing drill hole intersections. This will be methodically tested commencing with downhole electromagnetic (DHTEM) survey and conducting additional EM surveys in the Jacks Hill area.

Four of the holes were drilled beneath Jacks Hill, an area where high-grade mineralization was previously encountered within a gossan from rock chip sampling which returned grades up to 22.7% copper, 2.05% nickel and 82.9 grams/tonne silver as well as highly anomalous results for gold and platinum group elements (PGEs). Three holes were drilled to test geophysical targets identified through a previous airborne EM survey. The remainder of the holes were designed to test potential mineralization beneath three other mapped gossans.

All holes drilled to test the EM targets encountered widespread mineralization within dolerite. One hole encountered 47 metres from 36 metres @ 0.15% nickel, including 11 metres from 52 metres @ 0.30%. Another encountered 42 metres from 14 metres @ 0.22% including 5 metres from 38 metres @ 0.39% and another encountered 24 metres from 63 metres @ 0.25% including 6 metres from 63 metres @ 0.42%. Two of the four holes drilled beneath Jacks Hill also encountered anomalous zones of mineralization.

All holes drilled during the Clara Hills program passed through a sequence of muscovite mica schists before intersecting dolerites, before returning into another sequence of mica schists. The mineralized zones containing nickel and copper were all within the dolerites and were associated with carbonate alteration.

Victory is working towards creating a thorough plan to ensure development of the Clara Hills project after receiving very encouraging results from the maiden drilling campaign. Victory remains committed to thoroughly and methodically planning the next steps of exploration for the project. Clara Hills is a joint venture in which Victory has the right to earn up to about 63.75%. The joint venture partners include private participants and Proto Resources. Victory is manager and operator.

www.victorymines.com

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