Viking Gold agrees to debt settlements

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES/

TORONTO, June 21, 2013 /CNW/ - Viking Gold Exploration Inc. (TSX-V: VGC), the "Company" or "Viking Gold", announces that it has agreed to settle an aggregate amount of $99,693 of debt owed to three suppliers, through the issuance of 1,993,860 units at an assigned value of $0.05 per unit.  Each unit will consist of one common share plus one-half of one common share purchase warrant. Each full warrant will entitle the holder to acquire one common share of the Company at a price of $0.10 for a period of 24 months from the date of closing.

The closing of the debt settlement agreements is subject to the approval of the TSX Venture Exchange.  The common shares to be issued are subject to a four-month hold period.  Once the 1,993,860 common shares are issued, the Company will have a total of 79,778,229 common shares issued and outstanding.

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 press release.

SOURCE: Viking Gold Exploration Inc.

For further information:

Mark Edwards, CEO at (905) 752-2008 or visit the Company's website at: www.vikinggold.ca.