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Veris Gold Corp. to be Delisted from TSX

June 18, 2014

Toronto Stock Exchange: VG

VANCOUVER, June 18, 2014 /PRNewswire/ – Veris Gold Corp. (“Veris” or the “Company”) (TSX: VG) (OTCQB: YNGFF)
(Frankfurt Xetra Exchange: NG6A)
announces today that as a result of the commencement of proceedings
under the Companies’ Creditors Arrangement Act (“CCAA”), it fails to
meet the continued listing requirements of the Toronto Stock Exchange
(“TSX”). As a result, the Company has received a notice from the TSX
that the common shares (Symbol: VG) and common share purchase warrants
(Symbol: VG.WT) of the Company (collectively the “Securities”) will be
delisted at the close of business on July 18, 2014. The Securities were
suspended on June 9, 2014 and will remain suspended from trading until
delisting.

The Company has commenced discussions with the intent to potentially
have the Securities listed on another recognized exchange. However,
there can be no assurance that a listing on another exchange will be
obtained before the Company is delisted from the TSX. Upon exiting the
CCAA process the Company intends to apply for relisting of the
Securities on the TSX.

The Company continues to focus its efforts on the restructuring and
refinancing of its outstanding debts. The three mines at Jerritt
Canyon, as well as the processing facility are currently operating and
are generating free cash flow.

All inquiries regarding the CCAA Proceedings should be directed to the
Monitor, Ernst & Young: Mr. Rocky Ho at (604) 891-8245. Information
about the CCAA Proceeding is available here: www.ey.com/ca/verisgold

About Veris Gold Corp.

Veris Gold Corp. is a growing mid-tier North American gold producer in
the business of developing and operating gold mines in geo-politically
stable jurisdictions. The Company’s primary assets are the permitted
and operating Jerritt Canyon processing plant and gold mines located 50
miles north of Elko, Nevada, USA. The Company’s primary focus is on the
re-development of the Jerritt Canyon mining and processing plant. The
Company also holds a portfolio of precious metals properties in British
Columbia and the Yukon Territory, Canada, including the Ketza River
Property.

On behalf of

“VERIS GOLD CORP.”

François Marland

President and CEO

To be added to the Veris Gold e-mail list please sign up at www.verisgold.com.

The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release. All material information may be
accessed at www.sedar.com.

Forward-Looking Statements This news release contains “forward-looking statements” and
“forward-looking information” within the meaning of applicable
securities regulations in Canada and the United States (collectively,
“forward-looking information”). Forward-looking information includes,
but is not limited to, statements with respect to estimated mineral
resources, anticipated effect of the completed drill results on the
operations at Jerritt Canyon, the interpretation of those results, and
timing and expectations of future work programs. Often, but not always,
forward-looking information can be identified by the use of words such
as “plans”, “expects, “is expected”, “budget”, “scheduled”,
“estimates”, forecasts”, “intends”, “anticipates”, or “believes”, “has
the potential” or the negatives thereof or variations of such words and
phrases or statements that certain actions, events or results “may”,
“could”, “would”, “might”, or “will” be taken, occur or be achieved.
The forward-looking information contained in this news release is based
on certain assumptions that the Company believes are reasonable,
including, with respect to mineral resource estimates, the key
assumptions and parameters on which such estimates are based, as set
out in this news release and the technical report for the property,
that the current price of and demand for gold will be sustained or will
improve, the supply of gold will remain stable, that the general
business and economic conditions will not change in a material adverse
manner, that financing will be available if and when needed on
reasonable terms and that the Company will not experience any material
accident, labor dispute, or failure of plant or equipment.

However, forward-looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking information. Such factors include, among
others, conclusions of economic evaluations, the risk that actual
results of exploration activities will be different than anticipated,
that cost of labour, equipment or materials will increase more than
expected, that the future price of gold will decline, that mineral
resources and reserves are not as estimated, that actual costs or
actual results of reclamation activities are greater than expected;
that changes in operations may result in increased costs, unexpected
variations in mineral resources and reserves, grade or recovery rates,
failure of plant, equipment or processes to operate as anticipated,
accidents, labour disputes and other risks generally associated with
mining. See our Annual Information Form for additional information on
risks, uncertainties and other related factors. Although the Company
has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. The Company does not undertake to update
any forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws.

SOURCE Veris Gold Corp.


Source: PR Newswire



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