Drill Permit Application Filed For Smokey Lithium, Nevada

VANCOUVER - Victory Resources Corporation has filed its drill permit application for its Smokey Lithium property in Esmeralda County, Nevada. It conducted extensive exploration and sampling throughout the summer to identify its approach to drilling the property. Drill permit has been filed for a program with four holes, which the Company plans to expand to fifteen holes pending results and analysis. The plan is to commence drilling in late fall, early winter pending permit approvals.

Through May and June, Victory's exploration team conducted mapping and sampling using both a Laser Induced Breakdown Spectroscopy (LIBS) Analyzer* and the collection of claystone samples which were submitted to ALS in Reno. Values up to 630 ppm Li were returned from the surface sampling. The LIBS results were often several times higher than the associated rock sample results, possibly due to the high summer heat and/or the unconsolidated nature of the samples, therefore these results could only be used qualitatively.

The exploration team continued to conduct exploration activities through July in order to better understand the geology and confirm a strategy for drilling. Surficial sediment sampling was conducted in the southwest and central zones of the property and taken from animal burrows. In addition, seven sites for deeper sampling were chosen based on their elevated surficial lithium values. Holes were dug and samples were taken from > 1 m deep in an attempt to find claystone beneath the generally unconsolidated surficial sediment.

As a result of the extensive exploration work and analysis conducted to date, the Company's exploration team has identified drill targets that will determine whether a relationship exists to the high Li zone on the adjacent Jindalee property.