Veris Gold Corp. Announces Filing of Final Base Shelf Prospectus

VANCOUVER, Oct. 31, 2012 /PRNewswire/ - Veris Gold Corp. (TSX: VG) (OCTBB: YNGFD) (Frankfurt Xetra Exchange: NG6A) ("VG" or the "Company") is pleased to announce that, further to its news release of October 19, 2012, VG has filed a final short form base shelf prospectus (the "Final Prospectus") with the securities commissions in Alberta, British Columbia and Ontario, and a corresponding amendment to its registration statement with the United States Securities and Exchange Commission.

The Final Prospectus will enable the Company to make offerings of debt securities, common shares, warrants to purchase common shares and warrants to purchase debt securities, units consisting of common shares and whole or partial warrants or subscription receipts that will entitle the holder thereof to receive upon satisfaction of certain release conditions and for no additional consideration, common shares or warrants (all of the foregoing, collectively, the 'Securities') or any combination thereof up to an aggregate initial offering price of CDN$60,000,000 during the 25-month period that the Final Prospectus remains effective. Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale and set forth an accompanying shelf prospectus supplement (a "Prospectus Supplement").

A registration statement relating to the Securities has been filed with the United States Securities and Exchange Commission, but has not yet become effective. The Securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification.

A copy of the Final Prospectus and any Prospectus Supplement that may be filed in the future may be obtained from Cameron Paterson at [e-mail] or by directing a request to the Company at 900-688 West Hastings Street Vancouver, BC V6B 1P1, Canada, telephone [phone], Attn: Cameron Paterson.

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 asset is the permitted and operating Jerritt Canyon gold mine located 50 miles north of Elko, Nevada, USA. The Company also holds a diverse portfolio of precious metals properties in British Columbia and the Yukon Territory, Canada, including the former producing Ketza River mine. The Company's focus has been on the re-development of the Jerritt Canyon mining and milling facility.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

WARNING: The Company relies upon litigation protection for "forward-looking" statements.

Forward-Looking Statements
This press release contains "forward-looking statements" and "forward looking information" within the meaning of applicable securities laws. All statements, other than statements of historical fact, including without limitation, statements relating to plans for or intentions with respect to the offering of Securities and the Company's use of proceeds from the sale of Securities are forward-looking statements. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". By their nature, forward-looking statements and information are based on assumptions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from future results, performance or achievements expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include among other things the following: the Company's ability to engage underwriters, dealers or agents on terms and conditions deemed reasonable by the Company; the need to satisfy regulatory and legal requirements with respect to any offerings; gold price volatility; discrepancies between actual and estimated production and mineral reserves and resources; the speculative nature of gold exploration; mining operational and development risk; and regulatory risks. 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.