VIT Victoria Gold Corporation

Victoria Gold Corp. (TSX VENTURE: VIT) ("Victoria" or the "Company") is pleased to announce that it has engaged Rothschild as its financial advisor in conjunction with raising project financing for the development of its Eagle Gold Deposit in Yukon Territory. Rothschild will advise with respect to the planning, preparing for and the subsequent implementation of project financing by the Company.

Rothschild will advise and assist Victoria in developing a financing plan for the Eagle Gold Deposit with the objective of maximizing value for its shareholders. Rothschild's role will also include advising on the development of key contracts and structures to ensure bankability as well as assisting the Company with the implementation of the debt or quasi-debt components of the financing.

John McConnell, President, CEO and director commented: "Victoria is pleased to team up with Rothschild in securing financing for the Eagle Gold Deposit. The combination of Victoria's development and operating team and Rothschild's financial expertise will enhance the Company's ability to finance and bring Eagle to production in the earliest possible time frame, the first step in creating a new mid-tier gold producer."

In connection with its engagement as the Company's exclusive financial advisor, and subject to the approval of the TSX Venture Exchange, the Board of Directors of the Company has granted to Rothschild incentive stock options for the purchase of up to 600,000 common shares of the Company, at a price of $0.69 per share, for a period of three years.

The Board of Directors of Victoria Gold Corp. has also granted 110,000 options to employees of the Company under the stock option plan of the Company which was approved by shareholders on August 18, 2011. The options will vest over an 18-month period, have an exercise price of $0.57 and are exercisable for a period of five years from the date of the grant thereof.

About the Dublin Gulch Project:

Victoria's 100%-owned Dublin Gulch gold project is situated in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 40 kilometers from the town of Mayo. The project is accessible by road year-round, and is located within 25 kilometers of Yukon Energy's electrical grid. The Company has constructed a 100 person all-season camp at the project site.

The project covers an area in excess of 400 square kilometers, and is the site of the Company's Eagle Gold Deposit which has been estimated to host a NI 43-101 Compliant Mineral Resource of 222 million tonnes averaging 0.68 grams of gold per tonne, containing 4.8 million ounces of gold, in the "Indicated" category, and a further 77.9 million tonnes averaging 0.60 grams of gold per tonne, containing 1.49 million ounces of gold, in the "Inferred" category. The Company has engaged Wardrop Engineering, a Tetra Tech company, to complete a Feasibility Study on the Eagle Gold Deposit. This study is expected to be completed during Q4 2011.

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.

About Rothschild:

Rothschild is a worldwide financial advisory firm with a 200 year history. With 1,000 bankers based in 40 countries, the firm's scale, global reach and local knowledge enable it to develop relationships and deliver effective solutions to support clients worldwide. Rothschild has a depth and breadth of experience within the mining sector, including advising on more than US$30 billion of resource sector project financing over the last 20 years.

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, anticipated metal production, anticipated dates for the completion of work performed by external consultants, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) 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.

This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.

Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Contacts: Victoria Gold Corp Katie Fedorowicz, MBA Investor Relations 416-866-8800 Ext. 226 416-866-8801 (FAX) kfedorowicz@vitgoldcorp.com www.vitgoldcorp.com