Victoria Gold Corp. Dec. 7 said it has received the Water Use License for its Eagle Gold project, a proposed open-pit heap leach mine in the Yukon projected to produce roughly 200,000 ounces of gold annually.

This completes the major mining permits required to advance Eagle through construction and operations.

"With the final Water Use License in hand, Eagle represents a truly unique asset, being a fully permitted gold project, with First Nation support, located in Canada, capable of significant annual gold production exceeding 200,000 oz. at a low all-in-sustaining cost," said Victoria Gold President and CEO John McConnell.

Eagle's low-cost of production is expected to be achievable due to a number of factors including: a low strip ratio; short mine haul distances and superior infrastructure, including existing year-round road access; close proximity to the Yukon electrical grid and a nearby commercial airstrip as well as an existing construction camp.

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