VIT Victoria Gold Corporation

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES.


Victoria Gold Corp. (TSX VENTURE:VIT) ("Victoria" or the "Company") is pleased
to announce that it has entered into an agreement with a syndicate of
underwriters (the "Underwriters") led by BMO Capital Markets, under which the
Underwriters have agreed to purchase, on a bought deal basis, a combination of
common shares (the "Common Shares") and flow-through common shares (the
"Flow-Through Common Shares") to provide the Company with gross proceeds of at
least C$30,075,000 (the "Offering"). The Common Shares will be offered at a
price of $0.46 per Common Share, with minimum gross proceeds of C$20,884,000 and
maximum gross proceeds of C$25,070,000. The Flow-Through Common Shares will be
offered at a price of $0.55 per Flow-Through Common Share, with minimum gross
proceeds of C$5,005,000 and maximum gross proceeds of C$10,010,000. Under the
agreement, the Underwriters have an option to purchase up to an additional 15%
of the Common Shares to cover over-allotments, if any. 


The net proceeds from the sale of the Common Shares will be used for development
of the Eagle Gold Deposit, exploration and general corporate purposes. The gross
proceeds from the sale of the Flow-Through Common Shares will be used for
Canadian Exploration Expenses (within the meaning of the Income Tax Act
(Canada)), and the Company will use its best efforts to ensure that such
Canadian Exploration Expenses qualify as a "flow-through mining expenditure",
for purposes of the Income Tax Act (Canada), related to the exploration of the
Company's exploration projects. The Company will renounce such Canadian
Exploration Expenses with an effective date of no later than December 31, 2011.


The Offering is scheduled to close on November 9, 2011 and is subject to certain
conditions including, but not limited to, the receipt of all necessary
approvals, including the approval of the TSX Venture Exchange and other
applicable securities regulatory authorities.


The securities offered have not been registered under the U.S. Securities Act of
1933, as amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements. This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any State in which
such offer, solicitation or sale would be unlawful.


About Victoria

Victoria Gold Corp. is a Canadian based gold exploration and development company
focused on advancing its flagship project, the Eagle Gold Deposit, located on
the 100% owned Dublin Gulch property in the Yukon, Canada, to production. The
company also continues to explore its other core projects in Yukon and Nevada.
For more information please visit the company's website at www.vitgoldcorp.com.


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 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.

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