Production Update At Jerritt Canyon

VANCOUVER - Veris Gold Corp. reported fourth quarter and year end production update for the Company's three wholly-owned Jerritt Canyon gold mines and processing plant in Elko County, Nevada . Jerritt Canyon is operated by Veris Gold USA Inc., a wholly-owned subsidiary of the Company.

For the year ended December 31, 2013 the plant processed approximately 1,200,000 tons, averaging 3,500 tons through the roaster per operating day resulting in the production of an estimated 139,500 ounces of gold from Jerritt Canyon ore. The processed amount includes 126,730 tons of toll milled ore. The operations realized an overall recovery of 86% from Jerritt Canyon ore for the year; the Company is targeting recoveries of 90% for 2014.

Franìois Marland, President and CEO of Veris commented, "We are pleased we were able to exceed our revised 2013 production targets despite the many challenges we experienced. Our dedicated team continues to optimize both the mines and plant."

Graham Dickson , COO, stated, "2013 production at Jerritt Canyon was the result of a stellar performance by management, employees and contractors. The plant and operators performed at record level." For the year ended 2013, the SSX-Steer Mine produced 315,700 ore tons containing an estimated 48,900 ounces of gold, averaging 880 tons per operating day. This is an increase of approximately 14% compared to the 770 average tons of production reported in 2012.

During the year, Management made some adjustments to increase the mine's production; the Company hired a Chief Mining Engineer to enhance the teams' skill set and purchased a second underground reverse circulation drill to assist with mine planning.

For the year ended 2013, the Smith Mine produced 526,200 tons containing an estimated 82,300 ounces of gold averaging 1,470 tons per day. A total of 396,000 tons of high grade ore were mined in 2013 from Smith Mine at an average grade of 0.16 ounces per ton. The Company stockpiled another 130,200 tons of lower grade material averaging 0.09 ounces per ton near the roaster facility.

The Starvation Canyon Mine came into commercial production in mid-2013. The mine has produced 183,400 tons containing an estimated 36,700 ounces of gold (0.244 ounces per ton) for an average of 672 tons per day since the start of commercial operation.

For the fourth quarter, 2013 the Jerritt Canyon plant processed 307,550 total ore tons, averaging 3,340 tons through the roaster per operating day. This resulted in the production of 33,500 ounces of gold from Jerritt Canyon ore. Recovery rates for the fourth quarter averaged 85%. Additionally, the Company tolled milled 48,760 tons of ore in the fourth quarter.

Production for the fourth quarter at the SSX-Steer Mine was 62,190 tons containing an estimated 9,630 ounces of gold. The average mining rate was 740 tons per operating day. The Smith Mine produced 132,180 tons containing an estimated 21,110 ounces of gold averaging 1,430 tons per day of production.

The Starvation Canyon Mine produced 76,780 tons containing an estimated 15,750 ounces of gold (0.21 ounces per ton) averaging 835 tons per day, which outperformed the production goal of 600 tons per day.

For 2013, Veris Gold produced an estimated 139,500 ounces of gold and processed 126,730 tons of toll milled ore (an average of 3,500 tons per day) at its Jerritt Canyon processing facility.

For 2014, the Company has targeted production of 180,000 ounces of gold and has targeted processing 263,600 tons of tolled milled ore in 2014, which is expected to significantly reduce cash costs per ounce. Veris intends to increase mining production at its mines in 2014 to over 3,500 tons per day that includes ores from the new Saval 4 underground mine scheduled to commence operations in the second quarter.