The mining company, with operations in both US and Canada, has acquired the stake in Reca I, Reca II and Rio Rojo properties to develop production at the 1800ha site.
Under the terms of the agreement, Viking will fund $500,000 to establish a base camp and an alluvial production plant.
The company expects to undertake governmental and environmental approvals in next two weeks.
Viking Minerals president Charles Irizarry said that the company has taken this step to position Viking Minerals into a fully producing gold mining company.
"We want to move out of exploration and into production as soon as possible. This property is in an area adjacent to other properties that have produced gold for hundreds of years," he added.
