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Viceroy Exploration Ltd. is a Vancouver-based junior exploration company focused on the exploration and development of the advanced stage Gualcamayo Gold Project located in the San Juan Province of Argentina, South America.

The Company has an experienced management team, is well-financed with $6.7 million in cash (as at Q1 2004) and holds an attractive portfolio of 4 other Argentinean Gold Projects in addition to the Gualcamayo Gold Project.


The entire Gualcamayo Gold Project property covers a 24,916 hectare land position located approximately 200 km northwest of the city of San Juan and is located just 13km off the main San Juan highway in an area with good infrastructure. In addition, the Company has recently purchased the surface rights to the property, allowing for road building and water access.

A 9000 metre drill program is currently under way on Gualcamayo, which based on a recently completed Independent Geological Report, contains an indicated and inferred resource of 22.4 million tones of ore containing over 1.2 million ounces of gold within the main Quebrada del Diablo zone.

The Amelia Ines and Magdalena zones, located 600 meters to the north west of Quebrada del Diablo is a high grade skarn hosted deposit containing a further inferred resource of 250,000 ounces of gold. This deposit had several high grade intercepts and is being actively explored within the current drilling program.

Las Flechas, to the north of Gualcamayo, is located in a mining district which is considered one of the largest gold/copper systems under development. This property was currently joint ventured with Tenke Mining Corp. for exploration and development. Tenke can earn a 75% interes in the Las Flechas Project through expenditures with pre-agreed minimum annual exploration expenditures aggregating to US $4.5 million over 5 years.

La Brea, Las Carachas and the Evelina property are all within west central Argentina with various amounts of exploration work completed and are currently in the process of being joint ventured


The Company plans to advance the Gualcamayo Gold Project through pre-feasibility (beginning Q3'04) and then through to feasibility study (beginning Q2'05). An independent scoping study is scheduled to begin Q3'04.

Company Website

Company News Releases

November 11, 2004: Viceroy (TSX: VYE) Significant Increase in Gulacamayo Resource

October 15, 2004: Viceroy (TSX: VYE) High-Grade Gold Values; Resource Extended

September 20, 2004: Viceroy (TSX: VYE) Drilling Contract Awarded for Gualcamayo

August 30, 2004: Viceroy (TSX: VYE) Extends High Grade Gold Zone at Gualcamayo

August 24, 2004: Viceroy (TSX: VYE) New High Grade Gold Area Discovered at Gualcamayo

August 18, 2004: Viceroy (TSX: VYE) Reports Extensive Additional Gold Mineralization at Gualcamayo

July 28, 2004: Viceroy Exploration Intersects Further High Grade Gold Values


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For further information, contact:

Douglas J. Newby


Proteus Capital Corp.

120 Broadway, Suite 1010

New York, NY 10271

Tel:                  (646) 879-5970

Fax:                 (646) 365-3230



Last modified: January 3, 2007