QUEBEC CITY, QUEBEC — (Marketwired) — 10/02/14 — Virginia Mines Inc. („Virginia“) (TSX: VGQ) wishes to highlight Goldcorp announcement about the first gold production at Eleonore Mine. Virginia owns a 2.2% NSR on the first 3 million ounces of gold produced at the Eleonore mine. This royalty will increase according to the number of ounces of gold produced and shall not exceed 3.5%.
Eleonore Highlights
Going-Forward Catalysts
„The beginning of production at Eleonore today is a very important milestone for Virginia. We look forward to a very prolific and long-life mine at the Eleonore Mine“ says Andre Gaumond, President Virginia Mines.
About Virginia
(TSX: VGQ) Virginia conducts its exploration activities over the vast, unexplored territories of Northern Quebec in order to create value for its shareholders while protecting the quality of life for both present and future generations. With a working capital position of $47.7 million as at May 31, 2014, and a large area of mining claims in Quebec North, Virginia is among the most active mining exploration companies in Quebec. Strengthened by the discovery of the Eleonore project and more than 20 years expertise on the territory, Virginia–s exploration team is recognized as one of the best in Canada. Virginia also holds a 2.2% to 3.5% royalty in the Eleonore property.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in Virginia–s Annual Information Form filed with the security commissions of Quebec, Ontario and Alberta, and in the annual report on Form 40-F filed with the U.S. Securities and Exchange Commission. Virginia undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.
Contacts: Virginia Mines Inc. Andre Gaumond President 800-476-1853 or 418-694-9832 418-694-9120 (FAX)
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