News Release - Tuesday, November 02, 2010 Virginia Energy Grants Incentive Stock Options NR: 10-21 Virginia Energy Resources Inc.

(TSX.V: VAE) announces that subject to TSX Venture Exchange approval, it has granted 5,100,000 stock options to officers, directors, employees and consultants of the Company.

The options are set for a period of 5 years, expiring on November 1, 2015, and will allow the holder to purchase a common share in the Company at a price of $0.37.

Any shares issued on the exercise of these stock options will be subject to a four-month hold period from date of grant. On Behalf of the Board of Directors VIRGINIA ENERGY RESOURCES INC.

Walter Coles Jr., President & CEO
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. You can also view this News Release on our website at: http://www.virginiaenergyresources.com/s/NewsReleases.asp?ReportID=426080 Copyright (c) 2009 Virginia Energy Resources Inc.

(VAE) All rights reserved.

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