New high-grade RC drill results, reported as estimated true thicknesses comprising aggregate intercept lengths, include: Our team is excited to move forward with a resource calculation.” In summary, the Phase II drill program sought to close-off the lateral and vertical extent of mineralization it instead confirmed that the deposit remains open in most directions and to depth. Furthermore, the increased drill density in the southern portion of the deposit has revealed larger and higher-grade zones of vanadium mineralization than previously identified from Phase I drilling. Most notable is a shallow and relatively uniform zone of vanadium mineralization that is a prime candidate for our initial developmental focus. Paul Matysek, Executive Chairman of Victory, stated, “Phase II drilling returned surprisingly high-grade results in the southern portion of our vanadium rich target area. Mineralization remains open to the west, east, south, and to depth in several places. The deeper Phase II holes drilled within this area significantly expanded the extent of known vanadium mineralization at Iron Point to an area measuring 1500m in a NW-SE direction and 300m to 500m in width.

This area is below the southern portion of the Historical Vanadium Mineralized Zone and encompasses a rectangular area roughly 800m NW-SE and 300m wide. With Phase II drilling completed the company plans to initiate a maiden resource estimate. These vertical and angle holes were recommended by Mine Development Associates (Sparks, NV) to better define the outer limits of mineralization and add definition to areas within last year’s Phase I drill program where low hole density and/or insufficient depth penetration hindered accurate correlation of mineralized zones. Today’s release includes 27 holes (21 reverse circulation and 6 PQ diamond drill holes) targeting the southern portion of the Iron Point mineralized vanadium zone. has reported assay results from the third and final set of drill holes as part of its 10,532-metre, 52-hole Phase II drilling program at the 100%-owned Iron Point Vanadium Project, located 22 miles east of Winnemucca, Nevada.

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