Victory Mountain Ventures Closes First Tranche of Private Placement

Victory Mountain Ventures Ltd. (TSX VENTURE:VMV) announces that the first
tranche, with respect to the non-brokered private placement announced on July
30, 2012, has closed. The Company has raised $501,000 at a price of $0.15 per
unit.


A total of 3,340,000 units at a price of $0.15 per unit were issued as
non-flow-through units consisting of one common share and one share purchase
warrant. One warrant will entitle the holder to purchase one additional common
share of the company at a price of $0.22 per share until August 30, 2014.


Shares, warrants and any shares issued upon exercise of the warrants are subject
to a hold period of four months expiring December 30, 2012. The proceeds of the
private placement will be used to pay off the loan plus interest ($257,500)
received by the Company in June 2012 and for general working capital.


The following pros participated in the private placement;

Pro group: Kerry Chow 200,000 units, Jacqueline Chow 150,000 units, Roberto Chu
152,000 units, Judy Chu 100,000 units.


Finders' fees: Haywood Securities Inc. - $46,500 cash and 310,000 Broker
warrants convertible into units of the Company at an exercise price of $0.15
until expiration on August 30, 2013. Each unit comprises one share and one
warrant exercisable at $0.22 until August 30, 2014.


The Company further reports that pursuant to its stock option plan, the Company
has granted incentive stock options to its directors, officers, consultants, and
employees to purchase in the total of 425,000 common shares in the capital stock
of the company, subject to regulatory approval, exercisable for a period of five
years, at a price of $0.18 per share.


Victory Mountain Ventures Ltd. (TSX VENTURE:VMV) is a Junior Exploration Company
based in Western Canada. The Company has interests in Copper, Gold, Silver,
Molybdenum and other base metals in Canada.


On Behalf of the Board of Directors

VICTORY MOUNTAIN VENTURES LTD.

Charles Desjardins, President and Director

Cautionary note:

This report contains forward looking statements. Resource estimates, unless
specifically noted, are considered speculative. Any and all other resource or
reserve estimates are historical in nature, and should not be relied upon. The
production rate and mine-life projections have been made without support of a
feasibility study, there is no certainty the proposed operations will be
economically viable. By their nature, forward looking statements involve risk
and uncertainties because they relate to events and depend on factors that will
or may occur in the future. Actual results may vary depending upon exploration
activities, industry production, commodity demand and pricing, currency exchange
rates, and, but not limited to, general economic factors. Cautionary Note to US
investors: The U.S. Securities and Exchange Commission specifically prohibits
the use of certain terms, such as "reserves" unless such figures are based upon
actual production or formation tests and can be shown to be economically and
legally producible under existing economic and operating conditions.