Virginia Mines Inc : Virginia Grants 169,750 Stock Options

QUEBEC CITY, QUEBEC--(Marketwire - Jan. 13, 2012) - Virginia Mines Inc. ("Virginia") (TSX:VGQ) announces that today it has granted 169,750 stock options to its directors, officers, employees and service providers.

Of this number 50,000 have been granted to its directors and officers and 119,750 have been granted to its employees and service providers. Each stock option entitles its holder to subscribe to one common share of Virginia at a price of $9.04 per share, which is higher than the January 12, 2012 closing price on the Toronto Stock Exchange. These options are valid for a 10-year period.

About Virginia

Virginia is among the most active mining exploration companies in Quebec with a working capital of $43.6 million as at November 30, 2011, and 31,519,443 shares issued and outstanding as at January 13, 2012. Virginia trades on the Toronto Stock Exchange (TSX) under the ticker symbol VGQ. Virginia concentrates its activities on its numerous properties that are spread over the vast unexplored regions of northern Quebec.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in Virginia's periodic reports filed with the security commissions of British Columbia, Alberta, Ontario and Quebec, and in the annual report on Form 40-F filed with the U.S. Securities and Exchange Commission. Virginia undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.