Victory Resources Options Nevada Loner Property From Silver Range Resources

VANCOUVER - Victory Resources Corporation has optioned the Loner Property in Nevada from Silver Range Resources (SNG). The Loner Property is located 35 km south of Winnemucca in the southern Sonoma Range and currently consists of 16 Federal Lode Claims covering historic workings and exposed low-sulphidation gold mineralization. Bedrock grab sampling to date has returned up to 16.6 g.t Au and chip sampling in old workings has returned up to 25.7 g/t Au over 1.83 m. Prospecting during 2020 identified additional workings on the expanded claim block, returning grab samples up to 10.6 g/t Au. Strong gold and arsenic soil geochemical anomalies are coincident with the exposed mineralization and historic workings. The full extent of these anomalies has not yet been defined.

Victory Resources intends to carry out a work program on the Loner Property beginning in January of 2021. The initial focus of the work program by Victory Resources will be to: Expand the soil sampling grid to search for geochemical indicators of along strike extensions to the known veins or parallel structures; Carry out prospecting and mapping surveys of the surrounding area to search for additional mineralization and clarify the structural regime; and Better define the known vein system with a 500 m diamond drill program (to begin upon receipt of permits).

Recent exploration in the area includes the Goldbanks Project, an epithermal gold project about 12 miles to the south, and the Coronado VMS Project, which has been exploring for Cu on a property about 6 miles to the southeast of the Loner Property. The area of the Loner Property is prospective for both these styles of mineralization.

"Loner is a promising property. Building from the high-quality samples generated to date with Silver Range, our team is preparing to accelerate exploration activities with the launch of our 2021 work program" David Deering, VP Exploration. "Loner gives Victory year-round exploration access in a zone within Nevada that is in the vicinity of Goldbanks, an area where Barrick, Kinross and Premier have interests."