Virginia Energy Resources Inc.

VAE Details

Virginia Energy Resources Inc., a mineral exploration company, engages in the discovery and development of uranium deposits, as well as the exploration for coal in North America. The company focuses on four geographic locations for uranium occurrences: the Prolific Athabasca Basin in Saskatchewan, southeast British Columbia, Otish Mountains of Quebec, and in the Central Mineral Belt of Labrador; and coal properties in western Canada. It also has interests in gold properties in northern Saskatchewan; oil and gas properties in Alberta; and copper-nickel-platinum group element property in Quebec. The company was formerly known as Santoy Resources Ltd. and changed its name to Virginia Energy Resources Inc. on July 24, 2009. Virginia Energy Resources Inc. is based in Vancouver, Canada.

Detailed VAE Company Description...
www.santoy.ca

Snapshot of Virginia Energy Resources Inc. (VAE)
OPEN-- PREVIOUS CLOSEC$0.35
DAY HIGH-- DAY LOW--
52 WEEK HIGH01/5/09 - C$1.05 52 WEEK LOW11/21/08 - C$0.23
MARKET CAP19.0M AVERAGE VOLUME 3 mo38.0K
DILUTED EPS TTMC$-1.16 SHARES OUTSTANDING54.4M
VAE Does Not Pay Dividends P/E TTMNM
K = Thousands M = Millions B = Billions

http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ric=VAE.V

Forum Commences Summer Exploration On Key Lake Road Project, Athasbasca Basin, Saskatchewan

Comment: Busy, Busy!

8/19/2009 (BAYSTREET NEWSWIRE)

Vancouver, B.C. August 19, 2009. Forum Uranium Corp. (FDC: TSX-V) is pleased to announce that the summer exploration program has commenced on its 100% owned Key Lake Road project and recently acquired Karpinka Joint Venture with Virginia Energy Resources Inc. (formerly Santoy Resources Ltd.), where grades of up to 3,525 ppm uranium (0.42% U3O8) were encountered in boulders and outcrops. (See Forum news release – May 12th, 2009.)

An extensive program of mapping, prospecting, and surveying (soil gas hydrocarbon sampling) will be undertaken over areas of interest along the Key Lake Road Shear Zone and other favourable structural trends. Forum field crews will focus on the Romulus 2, Karpinka, Costco and Highrock Lake target areas. The Key Lake Road project covers over 100 km of prospective trends for mineralization. (Figure 1)

Forum will drill high priority targets in the Costco area where a large gravity anomaly was identified by Forum and historical drilling by Denison in 1979 identified over 150 metres of basement alteration, which was subsequently never followed up. The drill program will take place during the upcoming winter drill season in search for a basement deposit modeled after the recent discovery by Hathor as well as Cameco's 56.5 million pound Millennium uranium deposit (Source; Indicated and Inferred Resource- Cameco 2008 Annual Financial Review). All of the Key Lake targets have potential for this style of basement-hosted uranium mineralization at or near surface.

Soil gas hydrocarbon (SGH) is a survey that can detect minute quantities of gas given off by bacteria that thrive on certain types of ore deposits. Each type of deposit has its own specific bacteria, which gives a specific SGH fingerprint above the deposit. This survey is being conducted over several areas of structural interest where there is a combination of a graphitic conductor and cross-cutting faults. The Key Lake Road project area is particularly amenable to this type of survey due to the near surface, open pit targets on the property with shallow soil and glacial till cover.

Figure 1: Key Lake Road Projects Location Map.
To view Map, please click the following URL:
http://www.forumuranium.com/i/nr/2009-08-18-keylake.gif
Ken Wheatley, P.Geo. (Saskatchewan, Nunavut), Vice President, Exploration is the Qualified Person that has reviewed the contents of this news release.


UAbout Forum UraniumU

Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium projects in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. Forum has assembled a highly experienced team of exploration professionals with a track record of mine discoveries for unconformity-style uranium deposits in Canada. The Company has a strategy to discover near surface uranium deposits nearby existing infrastructure by exploring on its 100% owned properties and through strategic partnerships and joint ventures.

ON BEHALF OF THE BOARD
Richard J. Mazur, P.Geo.
President & CEO
Neither 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.

http://www.baystreet.ca/users/newswire/viewarticle.aspx?id=69088

Majescor Resources Inc.: Resolutions Approved at Annual General Meeting

Comment: Virginia Energy Resources Inc, just following the company and uranium mining deals!

MONTREAL, QUEBEC -- (Marketwire) -- 08/14/09 -- Majescor Resources Inc. ("Majescor" or "the Company") (TSX VENTURE: MJX) held their Shareholders' annual general meeting on August 14, 2009 in Ottawa at 11:00 a.m. The results are as follows:

a) Mr. Marc-Andre Bernier, Mr. Andre Audet, Mr. Alain Krushnisky, and Mr. Jacques Letendre, were re-elected as Directors of the Corporation. Due to personal reasons, Mr. Francois Viens withdrew his nomination as Director of the Corporation and

b) the firm of Raymond Chabot Grant Thornton LLP was appointed for another year as Auditors of the Corporation.

Majescor is a junior explorer focusing on emerging mineral districts. Majescor's project portfolio includes two uranium exploration projects in Quebec and one in the Baker Lake basin in Nunavut.

The Quebec properties include Mistassini (100%-owned; under option to Strateco Resources Inc.) and Lac Laparre (100%-owned; under option to Virginia Energy Resources Inc.).

In Nunavut, the Company holds 100% mineral rights to the Baker Lake uranium property.

In addition to uranium, Majescor owns 100% mineral rights to four gold and base metal properties in Madagascar (under option to Sunridge Gold Corp). Recently, Majescor signed an agreement with SIMACT Alliance Copper Gold Inc. ("SACG") and its principal shareholders whereby the Company has acquired a 10% interest in SACG, as well an option to acquire the remaining 90% interest in the SOMINE copper-gold property in north-east Haiti.

On behalf of the Board of Directors of Majescor Resources Inc.,

Marc-Andre Bernier

President, CEO and Director

Forward-Looking Statements

This News Release may contain or refer to "forward-looking statements" which reflect Management's expectations regarding the Company's future growth, results of operations, performance and business prospects and opportunities. These statements reflect Management's current beliefs at the time of this news release and are based on information currently available to Management. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Majescor Resources inc., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Management's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.

Neither 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.

Contacts:
Majescor Resources Inc.
Marc-Andre Bernier
President & CEO
613-241-5333
613-241-8632 (FAX)
marc-andre@majescor.com
www.majescor.com

http://in.sys-con.com/node/1072396

Virginia Uranium Ltd., Santoy close merger

By John Crane

Published: July 22, 2009

The company that provides financing for the proposed Coles Hill uranium project closed its merger Tuesday with Canada-based Santoy Resources Ltd.

Virginia Uranium Ltd. and Santoy will be known as Virginia Energy Resources, Inc., effective Friday and will be publicly traded on the Toronto Stock Exchange, said Norm Reynolds, who will be chief executive officer of the combined company.

“It will offer us a public vehicle to raise money,” Reynolds said Tuesday of the merger.

Santoy trades on the Toronto Stock Exchange under the symbol SAN.V. The symbol will change to VAE to represent Virginia Energy Resources.

Virginia Uranium Ltd. had been the private funding arm for Virginia Uranium, Inc.’s proposed project at Coles Hill, where VUI hopes to mine and mill a 119-million pound uranium ore deposit about six miles northeast of Chatham. Virginia has had a moratorium on uranium mining since 1982. Virginia Energy Resources will provide funding for VUI.

“We are pleased to see the merger of these two companies come to fruition,” said VUI Chairman Walter Coles Sr. in a prepared statement. “The effect of the merger is that Virginia Uranium, Inc. will have increased resources and expertise dedicated to our mission of developing our project in a manner that technologically sound and environmentally responsible.”

Reynolds said the merger will also expand awareness in the utilities industry and other industries that Coles Hill “is a real project.” Reynolds is also CEO and president of VUI.

Under the merger, Virginia Energy Resources holds 20.8 percent ownership in Virginia Uranium Holdings, Inc., which owns 100 percent of VUI. Before the merger, the Coles and Bowen families retained and 73.5 percent ownership in Virginia Uranium Holdings, Inc. Their share is now 70.4 percent.

VUI holds the rights to develop and operate the mining and milling of uranium at Coles Hill.

• Contact Crane at jcrane@registerbee.comor (434) 791-7987.

http://www2.godanriver.com/gdr/news/local/danville_news/article/virginia_uranium_ltd._santoy_close_merger/12627/

Virginia Energy Closes Final Tranche of Private Placement Financing

Tue Aug 11, 2009
News Release: 09-16

Virginia Energy Resources Inc. (TSX.V: VAE) is pleased to announce completion of the final tranche of it's previously announced non-brokered private placement financing announced May 14, 2009. Each Unit will comprise one common share at a price of 50 cents per share, and one-half of one share purchase warrant. Each whole warrant is exercisable at 60 cents per share for a five-year period. The warrants will have an acceleration clause whereby if the Company's shares trade at or greater than $2.00 for 10 consecutive days, the remaining exercise period may be reduced, at the election of the Company and upon notice to the warrant holders, to 25 days. A total of 4,155,600 common shares and 2,077,800 warrants were issued under this placement, for a gross consideration of $2,077,800 and will be subject to a hold period of 4 months and 1 day. Finder's fee and commissions will be payable to qualified third party agents.

A portion of this proposed financing will be applied to increasing the Company's equity position in VA Uranium Holdings Inc., which initial transaction was announced in a Company new release dated Dec. 22, 2008 wherein Santoy and a private corporation, Virginia Uranium Ltd. agreed to a business combination by way of a Plan of Arrangement, which closed July 21, 2009. The amalgamated corporation is Virginia Energy Resources Inc.

Virginia Uranium Ltd. owns an interest in the Coles Hill uranium deposit located in southern Virginia. Coles Hill, considered to be one of the largest undeveloped uranium deposits in the United States, had been advanced through to the feasibility stage in 1982 and has now been investigated by 220 drill holes. It has an estimated measured and indicated resource of 119 million pounds of U3O8 (at a cut-off grade of 0.025 per cent U3O8) based on a National Instrument 43-101 technical report on the Coles Hill property prepared for Santoy Resources by Behre Dolbear and Company Ltd., Marshall Miller and Associates Inc., and PAC Geological Consultant Inc. (Dr. Peter Christopher, P.Eng.) dated Feb. 2, 2009, and revised April 29, 2009. This report is available on SEDAR and on Virginia Energy Resources' website.

On Behalf of the Board of Directors
Virginia Energy Resources Inc.

"Norm Reynolds"

Norm Reynolds, President & CEO

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

For further information contact:
Norm Reynolds, President or
Tony Perri - Investor Relations, Manager
Suite 611, 675 W. Hastings Street
Vancouver, British Columbia, Canada V6B 1N2
Tel: (604) 669-4799
Website: www.virginiaenergyresources.com

http://www.santoy.ca/s/NewsReleases.asp?ReportID=359441&_Type=News-Releases&_Title=Virginia-Energy-Closes-Final-Tranche-of-Private-Placement-Financing

TSX Venture Exchange Daily Bulletins

VIRGINIA ENERGY RESOURCES INC. ("VAE") (formerly Santoy Resources Ltd. ("SAN"))

BULLETIN TYPE: Private Placement-Non-Brokered, Amendment BULLETIN DATE: July 29, 2009 TSX Venture Tier 2 Company Further to the TSX Venture Exchange bulletin dated July 22, 2009, the Non-Brokered Private Placement announced July 16, 2009 has been amended as follows: Finders' Fees: $30,205 cash and 258,900 warrants payable to Union Securities Ltd. $6,728.40 cash and 57,672 warrants payable to Blackmont Capital Inc. $10,500 cash and 90,000 warrants payable to NBCN $14,000 cash and 120,000 warrants payable to Cormark Securities $69,833.40 cash payable to Acamar Asia Consultants Inc. (Alimohamid and Nadia Fayyaz) *

All placees receive subscription receipts upon closing.

The subscription receipts will be exchanged for private placement units consisting of the above-described shares and warrants upon the closing of the Plan of Arrangement with Virginia Uranium Ltd.

As the Company will be completing a one for five consolidation immediately following closing of the Plan of Arrangement, these shares and warrants will be issued on the same consolidation ratio. TSX-X

http://www.tradingmarkets.com/.site/news/Stock%20News/2449242/

Santoy Resources and Virginia Uranium Complete Business Combination

Tue Jul 21, 2009
Santoy Resources and Virginia Uranium Complete Business Combination
News Release: 09-14

Santoy Resources Ltd. (TSX.V: SAN) (the "Company" or "Santoy") is pleased to announce that the Plan of Arrangement (the "Arrangement") pursuant to which Santoy will complete a business combination with Virginia Uranium Ltd. ("Virginia") is expected to close today, July 21, 2009 (the "Effective Date"). Post closing, the Company will have approximately 54,377,279 common shares outstanding, will have changed its name to Virginia Energy Resources Inc. and will hold a 20.8% interest in VA Uranium Holdings, Inc. The outstanding common shares include the closing of the first tranche of the subscription receipts from the private placement financing dated July 17, 2009. The new company will trade on the TSX-V under the symbol VAE.

Procedural Information Respecting the Plan of Arrangement

The following information is a summary of certain features of the Plan of Arrangement. Immediately following the closing of the Arrangement, the Company will consolidate its shares on a one new for each five old basis. All share figures and exercise and other share prices given below are on a pre-consolidated basis.

Distribution of Santoy Incentive Warrants to Santoy Shareholders

Holders of Santoy common shares (excluding certain Small Lot Holders described below) will be entitled pursuant to the Arrangement to receive one (1) Santoy Incentive Warrant for every four (4) Santoy common shares held. Each one (1) Santoy Incentive Warrant will be exercisable to acquire one (1) Santoy common share at a price of CDN$0.12 for a period of 12 months following the closing of Arrangement. The Santoy Incentive Warrants are expected to be listed for trading on the TSX Venture Exchange.

For settlement reasons in connection with any trades of Santoy common shares during this period, the Company understands that the last day to purchase Santoy common shares that will be entitled to participate in the distribution of Santoy Incentive Warrants is July 23, 2009. Santoy common shares purchased on or after July 24, 2009 will not participate in the distribution of Santoy Incentive Warrants. The most recent private placement is not included and will not participate in the distribution of the Incentive warrants. These dates are subject to change and in such event, the Company will issue a news release announcing any such change.

Computershare Investor Services Inc. (the "Depositary") will forward to each Santoy shareholder who is entitled to receive Santoy Incentive Warrants, certificates representing their allotted number of such Warrants in accordance with the Arrangement.

Santoy Small Lot Holders (a "Small Lot" being less than 500 Santoy shares)

Registered Small Lot Holders will have their Santoy common shares cancelled as of the Effective Date and will not be entitled to receive any Santoy Incentive Warrants unless they have elected, by duly completing and returning to the Depositary an Election Form prior to the Effective Date, to retain their Santoy common shares and to receive a certificate representing Santoy Incentive Warrants.

If the election was not made, the registered Small Lot Holder will be entitled to receive only $0.10 per Santoy common share owned. To receive this cash payment in exchange for a Small Lot, the registered Small Lot Holder must complete the Election Form and deliver the Election Form together with the certificate(s) representing the Small Lot within six years of the Effective Date to the Depositary at the address provided in the Election Form. Santoy will deposit funds with the Depositary sufficient to pay the cash payments to registered Small Lot Holders, which funds will be held in a trust account to be used to pay the cash payments. Upon expiry of six (6) years from the Effective Date, all unused funds will be returned to Santoy. Due to the administrative costs of effecting exchanges, if a cash payment payable to a Small Lot Holder would be less than $10, such payment will not be made.

Registered Small Lot Shareholders should refer to the Election Form and the plan of arrangement attached to the joint information circular mailed to shareholders in connection with the Santoy meeting and available on SEDAR under Santoy's profile for additional information.

Exchange of Common Shares for shares in Virginia Energy Resources Inc.

Pursuant to the Arrangement, each of the issued Virginia Uranium Ltd. common shares will be exchanged for 1.2 shares in Virginia Energy Resources Inc. and each of the Santoy common shares will be exchanged at the ratio of five for one common share of Virginia Energy Resources Inc. As a result of this exchange, the new company will have post closing, approximately 54,377,279 common shares outstanding

In order to receive the Virginia Energy Resources Inc. common shares for their Virginia Uranium Ltd. common shares, a registered Virginia Uranium Ltd. shareholder must complete and sign the Letter of Transmittal and deliver it, together with certificates representing their Virginia Uranium Ltd. common shares (in the case of registered Virginia Uranium Ltd. shareholders) and the other required documents, to the Depositary in accordance with the instructions contained in the Letter of Transmittal. The Letter of Transmittal was mailed to Virginia Uranium Ltd. shareholders in connection with special meeting of Virginia Uranium Ltd. shareholders held on May 21, 2009 and is available from the Depositary upon request. Virginia Uranium Ltd. shareholders who are not registered shareholders because they hold their Virginia Uranium Ltd. common shares through their broker or other intermediary should contact their broker or other intermediary. Any Virginia Uranium Ltd. common share certificate which has not been duly surrendered, with all other documents required by the Depositary, on or before the sixth anniversary of the Effective Date, will cease to represent any claim against or interest of any kind or nature in Virginia Uranium Ltd., Santoy or the Depositary and shall be deemed to have been surrendered to Santoy and cancelled.

On Behalf of the Board of Directors
SANTOY RESOURCES LTD.

"Ron Netolitzky"

R. K. Netolitzky, President & CEO



http://www.santoy.ca/s/NewsReleases.asp?ReportID=356596&_Type=News-Releases&_Title=Santoy-Resources-and-Virginia-Uranium-Complete-Business-Combination

Santoy Closes First Tranche of Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2009) - Santoy Resources Ltd. (TSX VENTURE:SAN) is pleased to announce completion of the first tranche of its previously announced non-brokered private placement financing announced May 14, 2009. Each Unit will comprise one common share at a price of 10 cents per share, and one-half of one share purchase warrant. Each whole warrant is exercisable at 12 cents per share for a five-year period. The warrants will have an acceleration clause whereby if the Company's shares trade at or greater than 40 cents for 10 consecutive days, the remaining exercise period may be reduced, at the election of the Company and upon notice to the warrant holders, to 25 days. A total of 19,926,200 common shares and 9,963,100 warrants were issued under this placement, for a gross consideration of $1,992,620, and will be free trading as a consequence of an Exchange exemption due to the prospective level disclosure in the Company's Information Circular dated April 24, 2009 setting out the Plan of Arrangement with Virginia Uranium Ltd. Finder's fee and commissions will be payable to qualified third party agents.

The second and final tranche, of a further firm $2 million plus, is scheduled to be completed next week. Shares issued under this portion will be subject to a hold period of 4 months and 1 day as they will have been approved post plan of Arrangement closing.

A portion of this proposed financing will be applied to increasing the Company's equity position in VA Uranium Holdings Inc., which initial transaction was announced in a Company new release dated Dec. 22, 2008 wherein Santoy and a private corporation, Virginia Uranium Ltd. have agreed to a business combination by way of a Plan of Arrangement, now scheduled to close July 21, 2009. Virginia Uranium Ltd. owns an interest in the Coles Hill uranium deposit located in southern Virginia. Coles Hill, considered to be one of the largest undeveloped uranium deposits in the United States, had been advanced through to the feasibility stage in 1982 and has now been investigated by 220 drill holes. It has an estimated measured and indicated resource of 119 million pounds of U3O8 (at a cut-off grade of 0.025 per cent U3O8) based on a National Instrument 43-101 technical report on the Coles Hill property prepared for Santoy Resources by Behre Dolbear and Company Ltd., Marshall Miller and Associates Inc., and PAC Geological Consultant Inc. (Dr. Peter Christopher, P.Eng.) dated Feb. 2, 2009, and revised April 29, 2009. This report is available on SEDAR and on Santoy Resources' website.

On Behalf of the Board of Directors

SANTOY RESOURCES LTD.

R. K. Netolitzky, President & CEO

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

http://www.metalsnews.com/news.aspx?NewsID=63153

Santoy Resources and Virginia Uranium Complete Business Combination

Santoy Resources Ltd.

TSX VENTURE: SAN

Jul 21, 2009 10:05 ET

Santoy Resources and Virginia Uranium Complete Business Combination

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 21, 2009) - Santoy Resources Ltd. (TSX VENTURE:SAN) (the "Company" or "Santoy") is pleased to announce that the Plan of Arrangement (the "Arrangement") pursuant to which Santoy will complete a business combination with Virginia Uranium Ltd. ("Virginia") is expected to close today, July 21, 2009 (the "Effective Date"). Post closing, the Company will have approximately 54,377,279 common shares outstanding, will have changed its name to Virginia Energy Resources Inc. and will hold a 20.8% interest in VA Uranium Holdings, Inc. The outstanding common shares include the closing of the first tranche of the subscription receipts from the private placement financing dated July 17, 2009. The new company will trade on the TSX-V under the symbol VAE.

Procedural Information Respecting the Plan of Arrangement

The following information is a summary of certain features of the Plan of Arrangement. Immediately following the closing of the Arrangement, the Company will consolidate its shares on a one new for each five old basis. All share figures and exercise and other share prices given below are on a pre-consolidated basis.

Distribution of Santoy Incentive Warrants to Santoy Shareholders

Holders of Santoy common shares (excluding certain Small Lot Holders described below) will be entitled pursuant to the Arrangement to receive one (1) Santoy Incentive Warrant for every four (4) Santoy common shares held. Each one (1) Santoy Incentive Warrant will be exercisable to acquire one (1) Santoy common share at a price of CDN$0.12 for a period of 12 months following the closing of Arrangement. The Santoy Incentive Warrants are expected to be listed for trading on the TSX Venture Exchange.

For settlement reasons in connection with any trades of Santoy common shares during this period, the Company understands that the last day to purchase Santoy common shares that will be entitled to participate in the distribution of Santoy Incentive Warrants is July 23, 2009. Santoy common shares purchased on or after July 24, 2009 will not participate in the distribution of Santoy Incentive Warrants. The most recent private placement is not included and will not participate in the distribution of the Incentive warrants. These dates are subject to change and in such event, the Company will issue a news release announcing any such change.

Computershare Investor Services Inc. (the "Depositary") will forward to each Santoy shareholder who is entitled to receive Santoy Incentive Warrants, certificates representing their allotted number of such Warrants in accordance with the Arrangement.

Santoy Small Lot Holders (a "Small Lot" being less than 500 Santoy shares)

Registered Small Lot Holders will have their Santoy common shares cancelled as of the Effective Date and will not be entitled to receive any Santoy Incentive Warrants unless they have elected, by duly completing and returning to the Depositary an Election Form prior to the Effective Date, to retain their Santoy common shares and to receive a certificate representing Santoy Incentive Warrants.

If the election was not made, the registered Small Lot Holder will be entitled to receive only $0.10 per Santoy common share owned. To receive this cash payment in exchange for a Small Lot, the registered Small Lot Holder must complete the Election Form and deliver the Election Form together with the certificate(s) representing the Small Lot within six years of the Effective Date to the Depositary at the address provided in the Election Form. Santoy will deposit funds with the Depositary sufficient to pay the cash payments to registered Small Lot Holders, which funds will be held in a trust account to be used to pay the cash payments. Upon expiry of six (6) years from the Effective Date, all unused funds will be returned to Santoy. Due to the administrative costs of effecting exchanges, if a cash payment payable to a Small Lot Holder would be less than $10, such payment will not be made.

Registered Small Lot Shareholders should refer to the Election Form and the plan of arrangement attached to the joint information circular mailed to shareholders in connection with the Santoy meeting and available on SEDAR under Santoy's profile for additional information.

Exchange of Common Shares for shares in Virginia Energy Resources Inc.
Pursuant to the Arrangement, each of the issued Virginia Uranium Ltd. common shares will be exchanged for 1.2 shares in Virginia Energy Resources Inc. and each of the Santoy common shares will be exchanged at the ratio of five for one common share of Virginia Energy Resources Inc. As a result of this exchange, the new company will have post closing, approximately 54,377,279 common shares outstanding.

In order to receive the Virginia Energy Resources Inc. common shares for their Virginia Uranium Ltd. common shares, a registered Virginia Uranium Ltd. shareholder must complete and sign the Letter of Transmittal and deliver it, together with certificates representing their Virginia Uranium Ltd. common shares (in the case of registered Virginia Uranium Ltd. shareholders) and the other required documents, to the Depositary in accordance with the instructions contained in the Letter of Transmittal. The Letter of Transmittal was mailed to Virginia Uranium Ltd. shareholders in connection with special meeting of Virginia Uranium Ltd. shareholders held on May 21, 2009 and is available from the Depositary upon request. Virginia Uranium Ltd. shareholders who are not registered shareholders because they hold their Virginia Uranium Ltd. common shares through their broker or other intermediary should contact their broker or other intermediary. Any Virginia Uranium Ltd. common share certificate which has not been duly surrendered, with all other documents required by the Depositary, on or before the sixth anniversary of the Effective Date, will cease to represent any claim against or interest of any kind or nature in Virginia Uranium Ltd., Santoy or the Depositary and shall be deemed to have been surrendered to Santoy and cancelled.

On Behalf of the Board of Directors

SANTOY RESOURCES LTD.

R. K. Netolitzky, President & CEO

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future results, events and objectives could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include exploration and other risks detailed from time to time in the filings made by the Company with securities regulators.

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.

For more information, please contact

Santoy Resources Ltd.
Ron Netolitzky
President
(604) 669-4799

or

Santoy Resources Ltd.
Tony Perri
Investor Relations, Manager
(604) 669-4799
(604) 669-2543 (FAX)
www.santoy.ca

http://www.marketwire.com/press-release/Santoy-Resources-Ltd-TSX-VENTURE-SAN-1019712.html