Press Release
May 9, 2005

Highlights

Éléonore Project
19,75 g/t Au / 10 m
13,82 g/t Au / 12 m
18,85 g/t Au / 16 m
20,90 g/t Au / 8 m
14,30 g/t Au / 20 m
12,69 g/t Au / 19 m
12,37 g/t Au / 23 m
11,02 g/t Au / 9 m

Coulon Project
Dom Zone
9.94% Zn; 2.12% Pb; 96.38 g/t Ag;
0.73% Cu / 19.5 m

Dom Nord Zone
1.31% Cu; 0.59% Zn; 12.63 g/t Au / 38.13 m

Corvet Project
Marco Zone
5.12 g/t Au / 13 m, incl. 7.04 g/t Au / 8 m

Contact Zone
10.29 g/t Au (cut) / 4.75 m

Gayot Project
9.03% Ni; 0.6% Cu ; 9 g/t Pd-Pt / 2.55 m
1.1% Ni; 1.32 g/t Pd-Pt / 19.9 m
2.2% Ni; 1.4% Cu; 2.3 g/t Pd-Pt / 11.4 m

Payne Bay Project
0.48% Ni; 0.16% Cu / 321 m

Virginia Gold Mines
TSX-VIA

The most active exploration company in Quebec

Prospector of the Year 2004
Resource Award 2001
Prospector of the Year 1996

Working Capital
Over $30,000,000 $
-- no debt

Major Partners
BHP Billiton
SOQUEM
Noranda
Novicourt

Virginia Gold Mines Inc. (“Virginia”) is pleased to announce the signing of a letter agreement with Placer Dome (CLA) Limited Inc. (“Placer Dome”) wherein Placer Dome has acquired an option to earn an undivided 50% beneficial interest in the 690 mining claims comprising the Corvet Est property, located south of the LG-4 reservoir, in the Middle North, Province of Québec.

Under the terms of the agreement Placer Dome shall make cash payments to Virginia for a total of CAD$90,000 ($25,000 committed), and incur a total of CAD$4 million ($500,000 committed) in exploration work over a 5-year period. Fieldwork should commence in a few weeks and Virginia will be the operator. Corvet Est is hosting two gold-bearing corridors, which could be traced over several hundreds of metres.

Virginia is pleased to join with Placer Dome, one of the world’s largest and most successful gold mining companies, to develop its Corvet Est property.

Duncan Property Sale
Virginia also announces the signing of a letter agreement with Augyva Mining Resources (“Augyva”) pursuant to which Augyva acquires 100% interest in an iron-ore property called Lac Duncan in return for the issuance to Virginia of 1.5 million shares of Augyva and a payment of a perpetual production royalty in the amount representing CA$0.40 per ton of iron concentrate payable on a quarterly basis. Augyva will have a buyback right to purchase 50% (CA$0.20 per ton of concentrate) of such royalty for a total payment of CA$4 million and will be granted an additional option of buying back 20% (CA$0.08 per ton of concentrate) for an additional payment of CA$4 million.

Furthermore, for any other metal than iron, Virginia will earn a 2% NSR Royalty. Augyva will have a buyback right to purchase 50% (1% NSR) in consideration of CA$5 million. Any additional resources of iron ore covered by any mineral titles, in an area of 1 kilometre surrounding de property, acquired before or after February 2005, is subject to the royalty.

The letter agreement is subject to the approval of the regulatory authorities.

Virginia Gold Mines Inc. is among the most active mining exploration companies in Quebec with a working capital of over $30 million, debt free, and with approximately 43 million shares issued and outstanding. Virginia’s shares trade on the Toronto Stock Exchange (TSX) under the symbol VIA. Virginia concentrates its activities on its numerous properties that are spread over the vast unexplored regions of northern Quebec.

For further information:
André Gaumond, President
Amélie Laliberté, Investor Relations
Tel: (800) 476-1853 -(418) 694-9832
Fax: (418) 694-9120
E-mail: mines@virginia.qc.ca
Internet: www.virginia.qc.ca