Victory Goldfields Limited announced high grade gold intersections over a mineralized strike length of 300 metres from the RC drilling program undertaken at the Coodardy project. Results from the Emily Wells and Nemesis RC drilling programs support further drilling be undertaken on these projects. Six drill sections within the Coodardy tenement (M20/455) were spaced at 50m, with hole spacing along sections averaging 25-30m.

High grade shallow gold intersections across 300 metres at the Coodardy project. Results include: 8m @ 7.7 g/t Au from 24m in 21CORC009, 12m @ 5.4 g/t Au from 12m in 21CORC008, 8m @ 5.8 g/t Au from 36m in 21CORC012, 4m @ 5.3 g/t Au from 24m in 21CORC02, 8m @ 2.5 g/t Au from 8m in 21CORC015, 4m @ 3.2 g/t Au from 40m in 21CORC06, 1 metre samples from the 4-metre composite sample gold intersections are being fire assayed with results expected in the near future. Following receipt of the 1 metre sample assays, a Coodardy maiden indicated and inferred JORC 2012 resource to be calculated Emily Wells and Nemesis exploration results both warrant further drilling.

The RC drilling program was designed to convert the historical non-JORC compliant RAB and RC drilling to meet the requirements of JORC 2012. Drilling was undertaken using industry standard practice, including downhole surveying, suitable QAQC controls on assaying and sampling to ensure maximum representivity of samples, best practice recording and storage of lithologies and alteration, suitable for calculation of a potential mineral resource. The structurally controlled gold mineralization at Coodardy is associated with thin quartz veins, hosted by several rock types including weathered dolerite, basalt, black-shales and felsic porphyry.

Goethite hematite alteration after carbonate is coincident with mineralization, but sulphides are uncommon. Ultramafic schists (tremolite chlorite talc) are common on the footwall of black, graphite rich, shales. The north ­ south striking, shallowly east dipping mineralization is continuous between the 6 drilling sections throughout the 300m length of the tenement.

Significant mineralization rarely extends below 50m below surface, as suggested in July's diamond drill program at Coodardy.