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Viking Gold Extends Warrants, Modifies Larose Option, and Terminates Option in Dominican Republic

Viking Gold Exploration Inc. (VGC.V) has received approval from the TSXV to extend two groups of the Company's warrants. The first group, which consists of 3,000,000 warrants exercisable at $0.20 and expiring on December 31, 2012, has been extended to June 30, 2013. The second group, which consists of 13,654,000 warrants exercisable at $0.20 and expiring on January 25, 2013, has been extended to July 25, 2013.

The Company also announced that Golden Share Mining Corporation has agreed to continue with the second year of its December 2011, three-year option to earn a 50% interest in the Company's Larose Project, which consists of 16 claims situated 120 km west of Thunder Bay, Ontario. Some terms of the original agreement have been modified to accommodate Golden Share. Golden Share will not be required to incur exploration expenditures of $150,000 in the second year of the option as originally agreed, though it will be required to keep the claims in good standing and any expenditures incurred will be applied against its $500,000 total work commitment. Golden Share has issued its second tranche of 100,000 common shares to the Company and has agreed to pay in June 2013, 50% of the $10,000 advance royalty payment due. Viking Gold has agreed to extend the option agreement by one additional year under these revised terms.

Viking Gold has decided to terminate its October 2012 option agreement with Everton Resources Inc. to earn up to a 60% interest in two mining concessions in the Dominican Republic.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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