Resource World Magazine

Dan Murray, Lead Operator, operating the Geo Probe on Pacific Ridge's King Solomon Gold Project. Photo by Kathrine Moore pling and mapping. Arsenic, mercury and antimony have been key indicator minerals on the property and ATAC is running an extensive geochemical program. Lane said, "Everywhere there is gold there is arsenic, though gold is not found everywhere there is arsenic." The boundaries of the mineralization are subtle. ATAC had numerous Nevada specialists working on the Rackla Gold Project assisting in all areas of exploration. Lane says it has been an educational leap forward for the team as well as an extremely useful tool. Exploration is currently focused on the Sunrise, Conrad and Isis East zones. ATAC had $26 million in the bank at the start of the 2013 drill season and is hoping to come out of the season with over $17 million left in the bank. As drilling goes deeper it becomes more costly. President of ATAC, Rob Carne said, "We plan to have six drills on site next spring. We will continue to demonstrate the economic potential of this project." ATAC has a NI 43-101 indicated mineral resource (oxide and sulphide) of over 500,000 ounces of gold at the Tiger Gold Deposit located within the Rau Trend of Rackla. 8 www.resourceworld.com VICTORIA GOLD CORP. [VIT-TSXV] At Victoria Gold's flagship Eagle Gold Project, John McConnell, Director, President, and CEO, told us that he is expecting to receive the Quartz Mining Licence within the next couple of months, allowing for the start of mine construction while the full Water Use License required for operations is expected in about a year. A positive Feasibility Study outlined annual gold production of approximately 200,000 ounces at the Eagle Gold Project. The Eagle Gold deposit hosts a NI 43-101 compliant indicated resource of 4.8 million ounces of gold (222 million tonnes averaging 0.68 g/t gold); plus a further 1.5 million ounces of gold of inferred resource (78 million tonnes averaging 0.60 g/t gold). Within the indicated resource, a reserve of 2.3 million ounces of gold (92 million tonnes averaging 0.78 g/t gold) has been identified. Earlier this year, Premier Pasloski stated, "The Eagle Gold Project promises to become one of the largest gold mines in Yukon history." The goal is to begin construction of the open pit, heap leach, gold recovery plant mine in the spring of 2014. The feasibility study presents a mine development cost of CDN $430 million which includes pre-stripping and working capital. Project financing is underway; Victoria Gold has $30 million in its treasury and the project has a debt capacity of approximately $210 million. McConnell said that the company has received positive responses from a high quality syndicate of lenders The company's options to cover the rest of the funding requirements include selling a gold stream or royalty, issuing equity, partnering on the project or asset sales. McConnell said that equity financing is currently the least desirable of the available options due to the current depressed market conditions. The feasibility study estimates a three year pay back of the $430 million capital cost using a gold price of US $1325 per ounce. The project has good infrastructure including year round road access to the property, an airstrip nearby and access to the Yukon power grid. Victoria Gold has a Power Purchase Agreement Letter of Intent to purchase low-cost hydro power with Yukon Energy. In addition, the project has successfully completed the Environmental Assessment process, has a modern First Nations benefit agreement and is ready to begin construction upon issuance of the Quartz Mining Licence. The 2013 project budget is $13 million. In an effort to conserve costs, the company reduced its staff and administrative expenses earlier this year. However, work to support site construction in 2014 continues. McConnell said that the company is currently doing road work, bridge work and detail design to support permitting and the start of construction. As well, Victoria Gold is undertaking soil sampling in 2013, rather than drilling. Going forward, many employees will be back when the project ramps up next year, and it is expected that once the mine is built it will employ 400 workers on rotating shifts. There is a strong likelihood that the mine life will be increased beyond that outlined in the Feasibility Study: McConnell says they have only begun to step out from the Eagle gold deposit to other areas of interest on their 100%-owned 650 km2 Dublin Gulch property. Exploration at the Olive, Rex Peso and Shamrock targets have brought promising results. COMSTOCK METALS LTD. [CSL-TSXV] Comstock Metals' QV Property is situated in the Tintina Gold Belt that stretches from southwestern Alaska into southern SEPTEMBER 2013

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