Virginia Mines Inc. Quebec City, TSX : VGQ, A mining exploration company long regarded as a leader in the Province of Quebec and one of the largest landowners in northern Quebec.

The Company specializes in searching for gold and base metal deposits in almost unexplored territories of Quebec.

Most of its activities take place in the central part of Quebec, particularly in the James Bay area, which comprises several Archean greenstone belts known as being very favourable to the presence of economic gold and base metal deposits.

Highlights

• Outstanding financial and capital structure
• One of the most successful explorer in Canada 6 discoveries in 10 years
• Discovery of the most promising new gold district in North America (OpinacaRegion)
• Discovery of an extensive new base metal camp (CoulonRegion)
• Proven track record in creation of value; sale of Eleonorefor >US$500 M
• Quebec: among world’s best mining jurisdictions

Éléonore Gold Royalty

Participation : 2% NSR at the opening of the mine. Advanced cash payment of $100,000 US per month on April first 2009

• Location : The mine is located 320 km north of the village of Matagami in James Bay.
• Highlights : Goldcorp acquired the project in a friendly transaction for approximately $500M.
• As of 2008 The Eleonore deposit has 3.7 million ounces of gold. Goldcorp is planning to start production in early 2011*.

Other Royalties

• Dubuisson (Gold)Northern Star Mining2 %
• Duncan (Ore)Augyva 0,40 $/t ore
• Malartic (Gold)Northern Star Mining2 %
• Apple (Uranium) Strateco 2 %
• Sagar (Uranium, Gold)Uranium Star 1,5 %
• Stabell (Gold)Alexandria Minerals2 % +
• Uranium North (Uranium) Matamec1 %
• Tantale Erlandson (TaNb) Commerce Resources 1 %

Exploration – 19 Projects:

The Company is among the most active exploration companies in Quebec with a vast portfolio of properties

http://www.virginia.qc.ca/en/proprie...

http://www.virginia.qc.ca/en/projets...

Strategy

Focus on Quebec

Virginia concentrates its exploration activities exclusively on Quebec’s territories with tremendous mineral potential. Over the past three years the Fraser Institute has recognized Quebec as being one of the best mining exploration territories in North America.

Partnerships

The numerous partnerships that Virginia has developed through the years, including multiple major and junior partners, have enabled the company to minimize the risks associated with exploration.

Virginia's best agreement was undoubtedly the discovery and the development of the Eleonore deposit and its subsequent acquisition by Goldcorp for an estimated cost of CA$500M.

Diversification

Virginia is always on the lookout for new projects. Area research is constantly being adapted to adjust to the changing demand of the market place for different metals.

Two thirds of Virginia’s portfolio remains dedicated to gold, while one third is allocated to base metals.

Expertise

The combination of these above factors over the years has made Virginia a company with enviable expertise. Virginia’s team has also built up an excellent reputation in the industry, and is recognized as being one of the best mining exploration teams in Canada. Virginia has earned several awards in Quebec and Canada that underline this expertise and its contribution to the geoscientific knowledge of northern Quebec.

Financial Strength & Long Term Presence

Numerous partners assure adequate financing for many projects and Virginia understands the importance of establishing a long-term presence on a territory. Virginia’s excellent financial situation enables the company to obtain additional financing and also allows the company to continuously develop new high-potential projects, which in turn increases the possibility of discoveries.