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The Company's Eagle Gold Project in Yukon Canada hosts a National Instrument 43-101 compliant Reserve of 2.3 million ounces of gold.

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Message: Stock Reaction to News: Correspondence With Chad

Rather than finding a joint venture partner to develop a mine at Eagle, and dilute our ownership in the process, IMO, it would be far wiser to obtain a loan to finance the development. Since the recapture of costs to develop a mine at Eagle is only 3 years - and possibly less - our financing costs would not be onerous. Secondly, IMO, I truly believe things are different in the gold market today. The larger gold producing companies today have a real problem: depleting reserves and their inability to replace their reserves from their own drilling activity - thus they are motivated to do "back in's" that are economic. Since Newmont has to reimburse VIT 2 1/2 times the money they spend on the Cove project, it would be a lot cheaper to back in now rather than have to reimburse VIT a lot more money for additional expenditures that VIT will incur in the coming months. Any cash received today from a Newmont "back in" will also reduce the possibility of further stockholder dilution. Thus an early "back in", IMO, will be good for all parties involved.

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