Victory Mines Limited advised that Mr. John Kelly has ceased to be Managing Director of Victory Mines Limited. Victory Mines Directors Peter Peebles and Ashley Hood will assume all technical and operational responsibilities vacated by Mr. Kelly. Both Mr. Peebles and Mr. Hood have vast experience in the resources sectors as geologist, mining engineering and other low cost mining operations.

The company is reviewing the Bolivian assets and the Board is also looking at new opportunities. Dr. James Ellingford remains as Chairman.