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Veris Gold Corp. drills 49.71 m grading 8.26 g/t Au at Jerritt Canyon, Nevada

Wednesday, Jan 23, 2013

VANCOUVER, Jan. 22, 2013 /PRNewswire/ - Veris Gold Corp. (TSX: VG) (OTCQB: YNGFF) (Frankfurt Xetra Exchange: NG6A) is pleased to announce assay results from its 2012 underground drilling program at the Jerritt Canyon gold operation in Nevada, USA.  Jerritt Canyon is operated by Queenstake Resources USA, Inc., ("Queenstake") a wholly-owned subsidiary of Veris Gold Corp. ("VG" or the "Company").

The Smith Zone 5 drill program included 13 diamond core holes (SMI-LX-813 through SMI-LX-825) totaling 13,710 ft. (4,181.6 m).  The program commenced in early May, 2012 and concluded at the end of September, 2012.

Results from the first three drill holes (SMI-LX-813 through SMI-LX-815) were previously reported upon in a news release dated August 2, 2012.  Significant assay results from the remaining ten drill holes are listed in Table 1.

William Hofer, Chief Geologist for Jerritt Canyon, states, "The excellent results from this resource conversion drilling have exceeded the expectations as outlined by the year-end 2011 resource inventory for that area of Zone 5 at the Smith Mine."

Todd Johnson, VP Exploration for Veris Gold states, "Underground drilling at the Smith Mine continues to define and upgrade resources to reserves which are on par with the historical excellent conversion rate at Jerritt Canyon. In other words, as we drill define these deep ore pods from underground on tight drill spacing (generally less than 50 feet), the inferred resources that are typically defined by wide-spaced deep surface drilling (generally greater than 150 feet spacing) are successfully converted into reserves. We are very excited with these results."

Cross sectional and plan view maps illustrating the drilling and significant assay results for Zone 5, reported upon in this news release, can be found on the Company website here at http://www.verisgold.com/i/pdf/Smith_Mine_Zone5_UGmaps.pdf.

A table summarizing all of the assay results received to date, and reported upon in this news release, can be found on the Company website here at http://www.verisgold.com/i/pdf/Smith_Mine_2012_UG_drill_assays_update.pdf.

Assaying of all samples from the 2012 underground drill program reported in this news release were conducted by ALS Laboratory Group in Reno, Nevada using standard fire assay techniques.  Assay intercepts are reported as drilled.  True widths have not yet been calculated; given the geometry of the mineralization at Jerritt Canyon, the concept of true width is not always meaningful before delineation drilling has been completed.  The company's 2010 and 2011 Quality Assurance and Quality Control protocols are available at the Company's website:  http://www.verisgold.com/i/pdf/JC_Assay_Protocols.pdf

The information in this news release was compiled and reviewed by William Hofer B.Sc., Chief Geologist, Jerritt Canyon Mine. The information contained in this news release has been reviewed and approved by the Company's Vice President of Exploration, Todd Johnson, M.Sc. (Qualified Person per the requirements of NI 43-101).

SOURCE Veris Gold Corp.

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