News & Press

Virgin Gold – Growing Stronger in 2012
May 2nd, 2012

Dear Shareholders, Employees and Partners:

The Board of Directors has consented to four (4) key landmark decisions for the company in our recent meeting. Since these are great decisions for Virgin Gold going forward, I am privileged to share them with all our shareholders, partners and employees.

One (1):
Virgin Gold Convertible Preferred Share (VGCPS-GOLD) price will be increased by USD0.05 every month from June to December 2012.

June 2012 – USD1.55
July 2012 – USD1.60
August 2012 – USD1.65
September 2012 – USD1.70
October 2012 – USD1.75
November 2012 – USD1.80
December 2012 – USD1.85

The basis of a corporation is often reflected by its share price. Some shareholders may think that I or the Board decides and dictates our CPS-GOLD offered price. That is not true. The price is decided by the Board upon recommendation by our internal and external auditors. Our CPS-GOLD price is a true reflection of the Net Asset Value (NAV) of this corporation. We foresee that the CPS-GOLD price will continue to be on the uptrend until we go public in a few years’ time.

Two (2):
A special ad-hoc committee headed by myself and assisted by Mr. Elinger will study the possibility of increasing our contractual dividend with preferred shareholders. I can assure you that there will be good news come June 2012.

Three (3):
The same committee will also study the direct referral incentive and group performance bonus. Rest assured that there is only the possibility to give back more to the shareholders and no chance of reducing any payout.

Four (4):
Virgin Gold Mining Corporation will undergo a corporate restructuring exercise over the next few months in order to support our global expansion and to further strengthen the structure of the company as part of public listing requirements. We will set up a few sister and subsidiary companies in various offshore jurisdictions. We are also studying the feasibility of relocating from Panama to another offshore jurisdiction.

The Board would like to take this opportunity to thank Mr. Elinger and his executive team for their hard work and dedication in running this corporation. Without the support of everyone involved, including our preferred shareholders, this corporation would not have reached this level at such a tremendous speed.


Ricardo Luigi Oliviera
Chairman
Virgin Gold Mining Corporation