Ann: Husky and Malamute Drill Planning Finalised, page-3

Victory Mines Limited (ASX:VIC) (“the Company”or “Victory”) is pleased to announce that planning for an inauguraldrill campaignat the Company’s Husky and Malamute projects in NSW is now complete. Drilling is expected to commence in late May2019, subjectto completion ofthe upcoming Rights Issue.In Decemberlast yearthe Company announced an intention to undertake a four hole drill program across the Husky and Malamute projects (see ASX Announcement 12 December 2018). The Company has since reviewed the planning workand, encouragedbythe results of the surface geochemical work previously conducted(see ASX Announcement 19 June 2018),has decided to expand on the previously announced plan. The new plans for Victory’s inaugural drill campaign at Husky and Malamute include100 aircore drill holes for a total of approximately 5000mof drilling.The campaign is designed to confirm the tenements’ prospectivity for laterite-hosted cobalt, scandium, nickel and/or PGE mineralisation in the mafic/ultramafic source rock.This initial campaign is budgeted to cost approximately $250,000. With the required government and landholder approvals already in place, its commencement is subject onlyto raising sufficient capital to fund the program via the upcoming Rights Issue.The Board looks forward to updating the market on the Rights Issue in the near future.