VIRGINIA GRANTS 139, 750 STOCK OPTIONS

January 15, 2009

Virginia Mines Inc. (“Virginia”) announces that today it has granted 139,750 stock options to its directors, officers, employees and services providers.

Of this number, 49,000 have been granted to its directors and officers and 90,750 have been granted to its employees, services providers. Each stock option entitles its holder to subscribe one common share of the company at a price of $3.21 per share, which is the closing price on the Toronto Stock Exchange as of January 14, 2009. Their expiry date is January 15, 2019.

About Virginia

Virginia is among the most active mining exploration companies in Quebec with a working capital of $38.6 million as at November 30, 2008, and 29,201,776 shares issued and outstanding as at January 15, 2009. Virginia trades on the Toronto Stock Exchange (TSX) under the ticker symbol VGQ. Virginia concentrates its activities on its numerous properties that are spread over the vast unexplored regions of northern Quebec.