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Victoria Gold taps JDS to lead feasibility study update on Eagle project

said April 7 that ithas engaged JDS Energy and MiningInc. to lead the feasibility study update for the Eagle gold projectin Canada's Yukon Territory for production costs estimate.

JDS will be supported by Merit Consultants International, Allnorth and certainkey independent consultants to deliver the update by the third quarter of the year.

JDS and the rest of its team will also be looking into incorporating theOlive zone into the mine plan, adding a second heap leach pad to accommodate lower-graderun-of-mine ore, and examining capital cost savings.

The current feasibility study on the project is based on input from the fourthquarter of 2011. In the past 18 months, the company received a water use license for the project, the Canadiandollar has weakened, fuel and equipment costs have lowered and the labor environmenthas improved.

"We are very pleased to have JDS lead the [feasibility study] update.Their expertise in engineering and building projects in Canada's north and 'fitfor purpose' designs will benefit the Eagle project," said John McConnell,president and CEO of Victoria Gold.

"Being fully permitted, Eagle is a rare asset and optimization in keyareas will further enhance the current robust economics," McConnell added.

The company begandiamond drilling in March at the Olive-Shamrock target, which is a satellite zoneto the Eagle project.