Symbol:-TSX-V:VROTCQX:VRCFFVANCOUVER, June 28, 2012 /PRNewswire/ - Victory Resources Corp. (Symbol VR-TSXV, OTCQX:VRCFF ) (the "Company") is pleased to announce that it has entered into an agreement with GEM Global Yield Fund Limited ("GEM") for a $5.0 million CDN financing commitment. Funds raised through this facility will be used for the ongoing drill program and the subsequent engineering work to bring the Reforma mine to feasibility. Funds will also be used for the development of the Company's recently optioned Boleo property in Mexico, the Toni property located near Merritt, B.C., as well as general working capital. Victory Resources Corp. will control the timing and maximum amount of any private placement under this agreement, and has the right, not the obligation, to drawdown on available funds. As part of the financing commitment, the Company has agreed to issue 5 million warrants to GEM in conjunction with each private placement. The warrants will be exercisable for a period of three years from the closing of each private placement at an exercise price of $0.72 CDN per share. "We are very excited to have entered into this agreement with a world class investment group like GEM. The $5 million facility will assure that our company has access to capital beyond our current drill program," said Wally Boguski, president and CEO. "We look forward to the results of our ongoing drill program on the Reforma mine as well as the results from the drill program on the tailings pond from the historic Reforma mine operations." About GEM Global Emerging Markets Limited, www.gemny.com, was founded in 1991. GEM is a $3.4b investment group having completed 305 transactions in 65 countries. The firm is an alternative investment group that manages a diverse set of investment vehicles across the world. GEM's funds include: CITIC/GEM Fund; VC Bank/GEM Mena Fund*; Kinderhook; GEM Global Yield Fund; GEM India Advisors, and GEM Brazil PE Fund. *GEM exited both its LP and GP stakes in Q1 2010.