Victory Goldfields Provides an Update of its Active 10,000M AC Extensional Drill Program at the Company's 100% Owned North Stanmore Project

Victory Goldfields provided an update of its active 10,000m AC extensional drill program at the Company's 100% owned North Stanmore project, situated approximately 10km from the town of Cue, Western Australia. To date, over 1,583m have been drilled successfully using an AC drill rig. The program commenced approximately 7.75km northeast from the Company's initial REE Discovery and approximately 4km northeast from Victory's alkaline igneous intrusion discovery.

Encouraging p-XRF REE vectors are continuing to be identified in the current AC drill program and this maintains the potential for a large ionic clay REE footprint around the North Stanmore alkaline intrusion. The latest positive p-XRF analysis observations were taken from the newly acquired tenement E 20/1016 and approximately 300m from the Great Northern Highway, which is one of Western Australia's major logistic networks, providing this discovery further logistical benefits. The Company imminently expects the next batch of fusion ICPMS assays to be reported from the previous 118-hole AC drilling program completed last month.

The Company also notes that a diamond drilling program consisting of three holes with a combined depth of approximately 980m at the alkaline igneous intrusion is now underway. The historical exploration activities and results contained in this report is based on information compiled by Michael Busbridge, a Member of the Australian Institute of Geoscientists and a Member of the Society of Economic Geologists. Michael is a consultant to Victory Goldfields Limited.

Michael has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Michael Busbridge has consented to the inclusion in the report of the matters based on his information in the form and context in which it appears.