Jerritt Canyon Underground Mining Operations

VANCOUVER, BC - Veris Gold Corporation mined a total of 230,052 tons in Q1-14, containing an estimated 36,854 ounces. This mining production represents a 12% increase from 205,166 tons of mine production in Q1-13; and is a 13% increase in the estimated 32,636 ounces mined in Q1-13. The majority of this additional mine production in Q1-14, compared to Q1-13, arose from the Company's newest mine, the Starvation Canyon mine, which began delivering ore early in the second quarter of 2013 and reached production levels intended by management in mid-2013.

In Q1-14 Small Mine Development, LLC (SMD) produced approximately 111,439 tons of ore containing an estimated 17,177 ounces of gold from the Smith mine. This represents mine production of 1,225 TPD in Q1-14, in line with the targeted 1,200 TPD. This is a slight decrease of mined ore from the Smith mine from Q1-13, which was 114,659 tons mined, containing an estimated 19,902 ounces, an average of 1,274 TPD for that quarter. The estimated average blended grade achieved at the Smith mine was 0.15 ounces-per-ton (OPT) in Q1-14, a decrease from the 0.17 opt achieved in Q1-13 and 0.16 opt in Q4-13 as the mine focused on development.

Q1-14 was the third complete quarter of full mine production from the Starvation Canyon mine which opened in the Q2-13. In Q1-14 approximately 68,820 tons of ore was mined containing an estimated 11,824 ounces, an average grade of 0.17 opt. This mining rate translates to 764 TPD for the quarter above the 700 tpd that was targeted. The Company continues to explore opportunities to increase future production levels from Starvation Canyon.

Mine production at the Company operated SSX-Steer mining complex (SSX) was 49,793 tons for Q1-14, containing an estimated 7,853 ounces. This is approximately 550 TPD in Q1-14, significantly less than the 1,000 TPD targeted and less than the 980 TPD achieved in Q1-13. This is a decrease of mined ore from the SSX mine from Q1-13 which was 89,225 tons mined containing an estimated 12,734 ounces which represents a 44% and 38% decrease, respectively. The estimated Au grade achieved from the Q1-14 production was 0.16 opt which was higher than that achieved in Q1-13 at 0.14 opt. The decreased performance in the SSX mine is attributable to low equipment availability (lack of parts) and mine supplies including cement, partially due to the prioritization of resources to the higher grade mines. The Company continues to develop plans for optimizing production from the SSX-Steer mine.

The Jerritt Canyon roaster facility processed approximately 175,108 tons in Q1-14, a 31% decrease from the approximately 252,758 tons processed through the roasters in Q1-13. The decrease in mill throughput in Q1-14 compared to Q1-13 arose primarily due to the 13 day shutdown in January-2014 that carried forward from the unanticipated shutdown of operations that commenced in mid-December and the 21 day maintenance shutdown in March 2014. The December 2013 to January 2014 shutdown was caused by an electrical arc flash incident that occurred in the primary crushing building during a scheduled down period on December 19, 2013. That incident was then compounded by the failure of the refinery heat exchanger (HX) on December 19, 2013 due to an oil leak and required replacement. The HX issue and the accident resulted in the Shutdown lasting throughout December 2013 and into January 2014. The roaster milling facility, and all other areas affected by the HX and Accident, became fully operational on January 14, 2014 and became fully operational at normal operating levels within two weeks.