Profile

Virginia Mines (VGQ-TSX) is a mining exploration company with its head office in Quebec City, Canada. Long regarded as a leader in the Province of Quebec and one of the largest landowners in northern Quebec, Virginia works relentlessly on many projects in various stages of growth in order to develop mineral resources. Goldcorp acquired one of our discoveries, the Eleonore project, in a friendly transaction in March 2006. After this transaction, Virginia Mines (VGQ-TSX) was created to pursue our mission: exploration in James-Bay. Many of Virginia’s projects involve partnership agreements with major and junior mining companies. These exploration partners contribute to Virginia's annual exploration budget.

Strengthened by the discovery of the Eleonore project and more than 15 years expertise on the territory, Virginia's team is recognized as being one of the best in Canada. Virginia also has strategic alliances with many consultants and universities that participate in the development of its projects. Virginia is constantly on the lookout for world-class deposits or new mining camps and Quebec, noted for its exceptional mineral potential, also offers political stability, one of the best geoscientific databases in the world, and a multitude of incentives aimed at mining exploration.

Virginia is proud of the discovery of the Eleonore deposit in a new district that is now considered as a new mining camp in James-Bay.

 

Resource Table to date

See Note to U.S. Investors

Poste Lemoyne Extension - Orfée Zone

Category Tonnage
(metric tonnes)		 (g/t) Gold contained
(ounces)

Measured

 88,588 9.44 26,886

Inferred

 114,895 18.40 67,967

 

La Grande Sud - Zones 32 - 103

Cut off grade Tonnage
(metric tonnes)		 Au(g/t) Cu% Gold contained
(ounces)

0.5

 7,180,000* 1.5 0.17 350,000**

1.0

 4,525,000* 2.1 0.24 310,000**

1.5

 3,115,000* 2.7 0.29 270,000**

* Presumed tons
** Calculation not under rule 43-101

Coulon

 

LENS

Tonnes

Au g/t

Ag g/t

Cu %

Zn %

Pb %

INDICATED RESOURCE

44

3,450,000

0.26

35.1

1.30

3.49

0.39

16-17

225, 000

0.13

68.8

0.85

5.37

0.62

TOTAL

3,675,000

0.25

37.2

1.27

3.61

0.40

INFERRED RESOURCE

08

5,383,000

0.21

37.0

1.15

3.65

0.26

9-25

3,266,000

0.15

33.7

1.69

4.18

0.07

44

314,000

0.21

29.1

1.37

3.30

0.25

16-17

103,000

0.09

53.2

0.45

5.56

0.64

43

555,000

0.14

18.5

1.56

2.80

0.14

Spirit

330,000

0.01

32.2

0.78

7.94

0.08

201

107,000

0.19

19.2

1.02

3.52

0.04

TOTAL

10,058,000

0.18

34.5

1.33

3.92

0.19

 

* The mineral resources are estimated with a base case NSR cut-off of CA$75/tonne based on metal prices assumptions of US$ 3.12/lb. Cu, US$ 1.25/lb. Zn, US$ 0.90/lb. Pb, US$ 13.50/oz Ag, US$ 744/oz Au and an exchange rate of 1.096 $US/$CA (Feb 28/09 36 month Trailing Average Metal Prices and US$ Exchange).

 


Note to U.S. Investors

Cautionary Note to U.S. Investors concerning estimates of Measured and Indicated Resources: This Website uses the terms "measured and indicated resources". We advise U.S. investors that while these terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.

Cautionary Note to U.S. Investors concerning estimates of Inferred Resources: This Website uses the term "inferred resources". We advise U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally mineable.

Cautionary Note to U.S Investors -- The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website (and in our press releases), such as “measured,” “indicated,” and “inferred” “resources,” that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our latest Annual Report on Form 40F, No. 000-29880, which may be secured from us, or from the SEC’s website at http://www.sec.gov/edgar.shtml

This website may also contain information about adjacent properties or other properties on which we have no right to explore or mine. We advise U.S. investors that the SEC’s mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.


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