NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISTRIBUTION TO US NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

NR: 21-02

Virginia Energy Resources Inc. (TSX.V: Graphical user interface) (‘Virginie Energy‘or the’Society‘) is pleased to announce that, in accordance with its press release dated August 26, 2021, the Company has completed the non-middleman private placement by issuing a total of 6.5 million common shares of the Company at a price of C $ 0.20 per common share for gross proceeds of C $ 1.3 million (“Offer”). The offering remains subject to the final approval of the TSX Venture Exchange. All securities issued under the offer are subject to a legal holding period of four months and one day from the closing date of the offer.

The net proceeds will be used for working capital and general corporate purposes.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or any state securities law and may not be offered. or sold in the United States or to US Persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.

About Virginie Énergie

Virginia Energy Resources Inc. is a uranium exploration and development company. The Company owns a controlling 100% interest in the Coles Hill advanced stage uranium project located in south-central Virginia, United States.

On behalf of the Board of Directors of
VIRGINIA ENERGY RESOURCES INC.

‘Walter Coles Sr.’
Walter Coles, Sr.
President and CEO

For more information please contact:

Walter Coles Sr.
Chief Executive Officer
Virginia Energy Resources Inc.
+1 (434) 432-1065
[email protected]

Certain of the statements contained in this press release may constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, without limitation, implications regarding the successful or unsuccessful closing of a private placement financing, or statements relating to the filing of legal action in federal court against the Commonwealth of Virginia. Forward-looking statements and forward-looking information generally express predictions, expectations, beliefs, plans, projections or assumptions about future events or performance, they are not historical facts and they are subject to a variety of risks. and uncertainties that could cause events or results to differ materially from those anticipated or implied in such information or statements. The forward-looking statements and the information contained in this press release are based on the beliefs, estimates and opinions of management at the date the statements are made. There can be no assurance that such statements or information will prove to be accurate. Actual results may differ materially from those anticipated or projected.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities mentioned in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or at, or on behalf of or for the benefit of United States persons without United States registration or an applicable exemption from United States registration requirements. This press release does not constitute an offer to sell securities for sale, nor a solicitation of offers to purchase securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

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