Veris Gold Corp. Announces Unit Offering

VANCOUVER, Dec. 5, 2012 /PRNewswire/ - Veris Gold Corp. (TSX: VG) (OTCQB: YNGFF) (Frankfurt Xetra Exchange: NG6A) (the "Company"). The Company is pleased to announce that it intends to offer up to 11,120,000 units of the Company (the "Units") at a price C$2.25 per Unit (the "Offering Price") representing aggregate gross proceeds of up to C$25,020,000 (the "Offering"). The Offering will be made in each of the Canadian provinces of British Columbia, Alberta and Ontario by way of a prospectus supplement to the Company's short form base shelf prospectus dated October 31, 2012, and in the United States pursuant to a prospectus supplement to the Company's short form base shelf prospectus filed as part of its registration statement on Form F-10 (File # 333-184496) with the United States Securities and Exchange Commission (the "SEC") on October 19, 2012, as amended on November 1, 2012 and effective November 2, 2012, pursuant to the United States Securities Act of 1933, as amended.

Each Unit will be comprised of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant (a "Warrant") will entitle the holder to purchase one common share of the Company for a period of 48 months (subject to early expiry in certain circumstances) following closing of the Offering at an exercise price of C$2.75.

The Company intends to use the net proceeds to complement cash flow from operations in order to (i) fund the development of Starvation Canyon mine at Jerritt Canyon, (ii) fund additional bonding for future reclamation obligations arising from the current years investment into a second tailings facility, (iii) fund exploration in areas with significant near term potential, (iv) fund the completion of re-grading existing rock disposal areas at Jerritt Canyon, the final item remaining under the Consent Decree, and (v) improve working capital and also for general corporate purposes, all of which is detailed in the Prospectus Supplement.

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