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Victory Gold Mines Inc. Announces Private Placement Financing

October 15, 2011

TORONTO, ONTARIO--(Marketwire - Oct. 14, 2011) - Victory Gold Mines Inc. ("Victory Gold") (CNSX:VGO) is pleased to announce a non- brokered private placement (the "Offering") of up to $4,000,000. The Offering will be made pursuant to exemptions from the prospectus requirements of the applicable securities laws. The Offering will consist of up to 4,545,455 Units (the " Units") at a price of $0.22 per Unit and up to 13,636,363 common shares issued on a "flow-through" basis (the "Flow-Through Shares") at a price of $0.22 per Flow-Through Share.

http://www.marketwire.com/mw/release.do?id=1573481&sourceType=3
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