Latest news with #LakeVictoriaGold
Globe and Mail
3 hours ago
- Business
- Globe and Mail
Undervalued Gold Equities Poised for a Breakout
Equity Insider News Commentary Issued on behalf of Lake Victoria Gold Ltd. VANCOUVER, BC, Aug. 12, 2025 /CNW/ -- Late last week as global equities rose, U.S. gold futures hit a record high. This week, despite a pullback on Monday, experts continue to see more optimism to come in gold. Now, even though gold miners earned double the profits of 2011, the last year the market saw such sector momentum as now, analysts are claiming that gold equities are still undervalued. Looking ahead, the market is looking at the miners making moves, from explorers to producers, with recent traction gaining around Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Contango Ore, Inc. (NYSE-American: CTGO), Jaguar Mining Inc. (TSX: JAG) (OTCQX: JAGGF), B2Gold Corp. (NYSE-American: BTG) (TSX: BTO), and Orla Mining Ltd. (NYSE-American: ORLA) (TSX: OLA).
Cision Canada
4 hours ago
- Business
- Cision Canada
Undervalued Gold Equities Poised for a Breakout
VANCOUVER, BC, Aug. 12, 2025 /CNW/ -- Late last week as global equities rose, U.S. gold futures hit a record high. This week, despite a pullback on Monday, experts continue to see more optimism to come in gold. Now, even though gold miners earned double the profits of 2011, the last year the market saw such sector momentum as now, analysts are claiming that gold equities are still undervalued. Looking ahead, the market is looking at the miners making moves, from explorers to producers, with recent traction gaining around Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Contango Ore, Inc. (NYSE-American: CTGO), Jaguar Mining Inc. (TSX: JAG) (OTCQX: JAGGF), B2Gold Corp. (NYSE-American: BTG) (TSX: BTO), and Orla Mining Ltd. (NYSE-American: ORLA) (TSX: OLA). When looking at the overall trends, one signal worth looking at is the Sprott Gold Miners ETF (SGDM) which is up over 70% so far this year, confirming the yellow metal's momentum with more upside to come. However, one odd aspect is how despite all this, S&P Global Commodity Insights reported how the gold rush has yet to translate into sparking new exploration. As the precious metal continues to stay safely above the US$3,300 per ounce price point, several analysts believe in forecasts for a US$4,00 price target. Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is moving closer to its goal of becoming Tanzania's next gold producer, as construction at Nyati Resources' processing plant enters the final stretch. Commissioning is expected to begin within the next four to six weeks, marking a key milestone in LVG's plan to bring both its Tembo and Imwelo projects into production. The Nyati facility, located on one of LVG's Tembo licences which is directly adjacent to Barrick's massive Bulyanhulu Mine, already hosts a fully licensed 120 tonne-per-day (tpd) carbon-in-pulp (CIP) circuit. A second, much larger 500+ tpd line is nearing completion, which will lift total capacity beyond 600 tpd. The plant build includes dual regrind mills, extended leach circuits, and high-capacity leach tanks, supported by grid power with backup generation. Tailings facilities, on-site labs, and administrative infrastructure are in place, providing a turnkey processing solution with scalability in mind. David Scott, Managing Director Tanzania & Director of Lake Victoria Gold, recently visited the site and noted the completeness of the build. "It was impressive to see the scale and quality of construction firsthand," said Scott. "The Nyati team has delivered a well-engineered plant with strong attention to detail across all critical circuits. With commissioning just weeks away, the site is clearly in the final stages of readiness. This facility will play a key role in enabling our development strategy at Tembo and beyond." LVG is in the advanced stages of finalizing a binding toll milling agreement with Nyati that would secure exclusive processing rights for Tembo ore, alongside terms for capital participation and profit sharing. Low-grade commissioning stockpiles are already on the ROM pad, with systems undergoing dry testing ahead of startup. This processing readiness comes as LVG advances a 7,750m drill program at Area C within its fully permitted Imwelo Gold Project, just 12 km from AngloGold Ashanti's Geita mine. The program is split between 3,750m of infill drilling for mine planning and 4,000m of step-outs to test mineralized extensions. Past results, including 6.8m at 14.6 g/t gold from 33m and 7m at 3.22 g/t from 27m, support Area C's role as the initial mining pit. "We've designed this program to maximize Imwelo's short-term production readiness while extending the upside case," said Marc Cernovitch, President and CEO of Lake Victoria Gold. "The drill data will help us finalize early mine scheduling, validate pit design, and potentially unlock high-grade extensions. With Area C now fully defined as our initial production zone, we're making meaningful progress toward becoming Tanzania's next gold producer." In parallel, 3,000m of drilling is planned at Ngula 1 on the Tembo Project, following up on prior hits such as 28.57 g/t over 3m from 54m and 17.23 g/t over 4m from 19m. The objective is to outline shallow, high-grade zones that could feed the Nyati plant early, potentially generating cash flow ahead of full-scale Imwelo development. Backing this dual-track strategy is exposure to a potential US$45 million in milestone payments from the company's 2021 asset sale to Barrick's Bulyanhulu operation. Financially, LVG also recently announced a non-brokered LIFE private placement of up to C$6 million, with an additional concurrent placement of up to C$1.5 million. Proceeds are earmarked for development and exploration at Tembo and Imwelo, and for working capital. With construction, drilling, and funding all advancing, LVG is building the operational platform to transition from explorer to producer in a rising gold market. In other industry developments and happenings in the market include: Contango Ore, Inc. (NYSE-American: CTGO) reported gold production of 13,254 ounces for the quarter ended June 30, 2025, from its Manh Choh Mine in Alaska. The company also shipped 13,069 ounces during the quarter, generating significant cash flow. Management noted steady operations as it advances toward long-term production goals. "Mining operations at Manh Choh are progressing as planned," said Rick Van Nieuwenhuyse, President and CEO of Contango. "Guidance for our 30% share of the Peak Gold JV's 2025 production remains at 60,000 ounces of gold, with life-of-mine ("LOM") average annual production expected to be 58,750 ounces of gold per year to 2029 and AISC estimated at $1,400 per ounce of gold sold. In addition, as previously reported, the Company received $54 million in cash distributions in the first half of 2025, and expect total cash distributions for 2025 from the Peak Gold JV to be in excess of $95 million, assuming a $3,100 per ounce spot gold price for the remainder of 2025." Jaguar Mining Inc. (TSX: JAG) (OTCQX: JAGGF) has received federal authorization to begin preparatory work at its Turmalina Mine in Brazil. This approval allows the company to proceed with critical expansion and operational upgrades. "This is an important milestone in our ongoing, structured process," said Luis Albano Tondo, CEO of Jaguar. "With the preparatory activities in the mine underway and following the completion and independent confirmation of the Satinoco rehabilitation, we expect ANM will lift the remaining suspensions, allowing for the safe and full resumption of mining operations." The move supports Jaguar's plan to boost output while maintaining environmental and regulatory compliance. B2Gold Corp. (NYSE-American: BTG) (TSX: BTO) recently posted Q2 2025 revenue of $566 million , with gold production totaling 236,469 ounces from its Fekola, Masbate, and Otjikoto mines. The company maintained its 2025 production guidance, reflecting confidence in operational performance and mine output for the remainder of the year. Operating cash flow for the quarter was strong, supporting ongoing investment in growth initiatives. B2Gold continues to advance exploration and development programs aimed at expanding resources and extending mine life. Management emphasized that the company's diversified asset base positions it well for long-term stability and growth. Orla Mining Ltd. (NYSE-American: ORLA) (TSX: OLA) has reported new drill results from Zone 22 at its Camino Rojo Project in Mexico, highlighting potential to expand both oxide and sulphide resources. Recent intercepts include 1.85 g/t gold over 121.5m and 0.95 g/t gold over 92.9m, with mineralization extending below the current oxide pit. "The Zone 22 Infill Program has delivered consistent high-grade results, strengthening our resource model and reinforcing Zone 22 as key to Camino Rojo's underground potential," said Sylvain Guerard, Senior Vice President, Exploration, for Orla Mining. "With mineralization still open, we see strong upside for further growth." The company plans further drilling in the second half of 2025 to target additional growth opportunities in the deposit. DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for media corp, who has been paid a fee for an advertising from a shareholder of the Company (333,333 unrestricted shares). MIQ has not been paid a fee for Lake Victoria Gold Ltd. advertising or digital media, but the owner/operators of MIQ also co-owns Media Corp. ("BAY") There may also be 3rd parties who may have shares of Lake Victoria Gold Ltd. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ/BAY own shares of Lake Victoria Gold Ltd and reserve the right to buy and sell, and will buy and sell shares of Lake Victoria Gold Ltd. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by Lake Victoria Gold Ltd. Technical information relating to Lake Victoria Gold Ltd. has been reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person as defined by National Instrument 43-101. Mr. Scott is a registered member of the South African Council for Natural Scientific Professions (SACNASP) and is a Director of Lake Victoria Gold Ltd., and therefore is not independent of the Company; this is a paid advertisement, we currently own shares of Lake Victoria Gold Ltd. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
Globe and Mail
4 days ago
- Business
- Globe and Mail
The Next Gold Boom May Not Be in Bullion--It's in the Miners
Issued on behalf of Lake Victoria Gold Ltd. VANCOUVER, BC, Aug. 8, 2025 /CNW/ -- USA News Group News Commentary – On the brink of a long-awaited breakout, gold-miner stocks appear to be signaling potential outperformance compared to the spot gold price which has been having a great year so far. After a small dip a week prior, analysts are projecting what could be an impending generational mining stock boom. This week, gold regained ground, extending its gains with a Fed rate cut looking to be on the horizon. Experts are already adjusting their gold price forecasts, with the next three months looking to hit $3,500, and Fidelity projecting a potential $4,000 per ounce price by year-end. As bullion prices continue to surge, this modern gold rush is filling the coffers of miners, giving retail investors a bigger reason to assess the field of miners of all stages and sizes. Among those companies that are making moves worth noting are Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Aris Mining Corporation (TSX: ARIS) (NYSE-American: ARMN), Idaho Strategic Resources (NYSE-American: IDR), Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM), and Fortuna Mining Corp. (NYSE: FSM).
Cision Canada
4 days ago
- Business
- Cision Canada
The Next Gold Boom May Not Be in Bullion--It's in the Miners
Issued on behalf of Lake Victoria Gold Ltd. VANCOUVER, BC, Aug. 8, 2025 /CNW/ -- USA News Group News Commentary – On the brink of a long-awaited breakout, gold-miner stocks appear to be signaling potential outperformance compared to the spot gold price which has been having a great year so far. After a small dip a week prior, analysts are projecting what could be an impending generational mining stock boom. This week, gold regained ground, extending its gains with a Fed rate cut looking to be on the horizon. Experts are already adjusting their gold price forecasts, with the next three months looking to hit $3,500, and Fidelity projecting a potential $4,000 per ounce price by year-end. As bullion prices continue to surge, this modern gold rush is filling the coffers of miners, giving retail investors a bigger reason to assess the field of miners of all stages and sizes. Among those companies that are making moves worth noting are Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Aris Mining Corporation (TSX: ARIS) (NYSE-American: ARMN), Idaho Strategic Resources (NYSE-American: IDR), Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM), and Fortuna Mining Corp. (NYSE: FSM). According to a recent report from Research Nester, the Global Mining Market is poised to grow at 3.8% CAGR to nearly $355 by 2037. Gold mining majors are already publicly stating they expect bumper profits as gold's prices and volumes surge. As gold flirts with all-time highs and silver rips through multi-year resistance, investors are beginning to rotate into junior miners as the next logical phase of the precious metals bull run. Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is now entering a critical phase in its transition toward gold production, with commissioning of Nyati Resources' processing plant expected to begin within the next two to four weeks. The facility—located directly on one of the Tembo licences—features a fully licensed 120 tpd carbon-in-pulp circuit, with a second line under construction to boost capacity beyond 600 tpd. This expansion includes dual regrind mills, extended leach circuits, and a grid-tied power system backed by redundancies. David Scott, Managing Director Tanzania & Director of Lake Victoria Gold, recently toured the site and highlighted the quality and completeness of the build. "It was impressive to see the scale and quality of construction firsthand," said Scott following his visit. "The Nyati team has delivered a well-engineered plant with strong attention to detail across all critical circuits. With commissioning just weeks away, the site is clearly in the final stages of readiness. This facility will play a key role in enabling our development strategy at Tembo and beyond." A toll milling agreement is now being finalized to grant LVG exclusive rights to process Tembo mineralized materials through the plant, establishing terms for capital participation and profit sharing. Commissioning stockpiles are already on the ROM pad, with system checks underway—putting the site in the final stages of readiness. This development directly supports LVG's upcoming 7,750 m drill campaign at Area C, the most advanced zone at its fully permitted Imwelo Gold Project, located just 12 km from AngloGold Ashanti's Geita mine. The program includes 3,750 m of infill drilling to support mine planning and 4,000 m of step-outs to test mineralized extensions. Earlier results—such as 6.8 m at 14.6 g/t from 33m gold and 7 m at 3.22 g/t from 27—underscore Area C's role as the initial mining pit, with optimization work continuing ahead of a construction decision later this year. "We've designed this program to maximize Imwelo's short-term production readiness while extending the upside case," said Marc Cernovitch, President and CEO of Lake Victoria Gold. "The drill data will help us finalize early mine scheduling, validate pit design, and potentially unlock high-grade extensions. With Area C now fully defined as our initial production zone, we're making meaningful progress toward becoming Tanzania's next gold producer." At the same time, Lake Victoria Gold is preparing to drill 3,000m at the Ngula 1 target on the Tembo Project, following up on prior hits including 28.57 g/t over 3 m from 54m and 17.23 g/t over 4 m from 19m. The aim is to define shallow, high-grade material that could feed Nyati's plant early, while mapping a broader 600m mineralized corridor. If successful, Tembo could generate early cash flow ahead of full-scale development at Imwelo. Backing this dual-track strategy is exposure to a potential US$45 million in milestone payments from the company's 2021 asset sale to Barrick's Bulyanhulu operation. Financial runway is further supported by a gold prepay facility with Monetary Metals and a C$11.52 million strategic investment from Taifa Group. With construction, exploration, and funding all moving in parallel, Lake Victoria Gold is well on its way to becoming Tanzania's next gold producer. In other industry developments and happenings in the market include: Aris Mining Corporation (NYSE-American: ARIS) (NYSE-American: ARMN) has signed a formal agreement with Colombia's Ministry of Mines and local stakeholders to support the legalization of artisanal miners around its Marmato operations. "This MOU demonstrates that a successful gold mining business in Colombia is achievable through close collaboration between industry, government, regulators, and local communities," said Neil Woodyer, CEO of Aris Mining. "The Cerro El Burro area, located above the Marmato Narrow Vein Zone (Upper Mine) and home to highly active ASM gold mining activities since the 16th century, represents a meaningful gold production growth opportunity for Aris Mining. Formalization delivers long-term benefits to all stakeholders—enhancing safety, environmental outcomes, and livelihoods—while strengthening operational stability as the Company grows gold production at Marmato." The strategy aims to integrate these miners safely into the legal economy and provide technical, environmental, and processing support. The initiative complements Aris's growth plan to exceed 500,000 ounces in annual gold output. Idaho Strategic Resources (NYSE-American: IDR) recently acquired the Toboggan Project from Hecla Silver Valley, consolidating the core of the Murray Gold Belt in Idaho for the first time. "The Toboggan project was one of the reasons I was originally drawn to the company over a decade ago, so it is good to once again have this horse back in the stable," said John Swallow, President and CEO of Idaho Strategic. "Additionally, our first introduction to Rob Morgan, who is now IDR's VP Exploration, came during his time on the ground at the Toboggan while advancing the project for Newmont." The acquisition adds 2,880 acres of contiguous ground and includes the historic Ramshorn and Little Baldy properties. The company sees this as a transformative move to control a high-potential gold district adjacent to its existing operation. Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) reported record free cash flow in Q2 2025 while transitioning to a net cash position. The company produced 915,000 ounces of gold at total cash costs of US$757/oz and generated US$719 million in operating cash flow. It also repaid US$450 million in debt and continues to optimize production across its global portfolio. "Our portfolio of high-quality assets continued to deliver exceptional results this quarter, generating record free cash flow, more than doubling the prior quarter," said Ammar Al-Joundi, President and CEO of Agnico Eagle. "This performance reflects the strength of the gold price environment, our disciplined cost management and the consistency of our operational execution. While delivering record free cash flow, we remained disciplined in our capital allocation – reinvesting in our business, strengthening our balance sheet and returning capital to shareholders. We ended the quarter with a significant net cash position and returned approximately $300 million to shareholders through dividends and share repurchases this quarter. We remain focused on executing on our 2025 guidance and advancing our key growth projects to drive long-term value creation." Fortuna Mining Corp. (NYSE: FSM) recently announced it has updated the mineral resource estimate for its Diamba Sud Gold Project in Senegal, now totaling 904,000 ounces of gold in the indicated and inferred categories. The company plans to complete a Preliminary Economic Assessment by Q4 2025, setting the stage for potential development. Diamba Sud lies within the prolific Kedougou-Kenieba inlier, home to several major West African gold discoveries. Fortuna sees the project as a cornerstone asset in its regional growth strategy. Ongoing work includes metallurgical testing, geotechnical studies, and continued exploration to expand the resource base. CONTACT: USA NEWS GROUP [email protected] (604) 265-2873 DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for media corp, who has been paid a fee for an advertising from a shareholder of the Company (333,333 unrestricted shares). MIQ has not been paid a fee for Lake Victoria Gold Ltd. advertising or digital media, but the owner/operators of MIQ also co-owns Media Corp. ("BAY") There may also be 3rd parties who may have shares of Lake Victoria Gold Ltd. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ/BAY own shares of Lake Victoria Gold Ltd and reserve the right to buy and sell, and will buy and sell shares of Lake Victoria Gold Ltd. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by Lake Victoria Gold Ltd. Technical information relating to Lake Victoria Gold Ltd. has been reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person as defined by National Instrument 43-101. Mr. Scott is a registered member of the South African Council for Natural Scientific Professions (SACNASP) and is a Director of Lake Victoria Gold Ltd., and therefore is not independent of the Company; this is a paid advertisement, we currently own shares of Lake Victoria Gold Ltd. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
Yahoo
31-07-2025
- Business
- Yahoo
Lake Victoria Gold Announces Non-Brokered LIFE Private Placement of Units and Concurrent Private Placement of Common Shares
Vancouver, British Columbia--(Newsfile Corp. - July 31, 2025) - Lake Victoria Gold Ltd. (TSXV: LVG) ("LVG" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement (the "LIFE Private Placement") consisting of the issuance of units of the Company (the "Units") at a price of $0.175 per Unit, for aggregate gross proceeds to the Company of up to $6,000,000. The LIFE Private Placement is subject to a minimum offering amount of $3,000,000. Each Unit will be comprised of one common share of the Company (each, a "Share") and one-half of one common share purchase warrant (a "Warrant"). Each Warrant will be exercisable by the holder thereof to acquire one additional Share (a "Warrant Share") at an exercise price of $0.27 per Warrant Share for a period of three years from the date of issuance of the Warrant (the "Warrant Expiry Date"). Subject to compliance with applicable regulatory requirements, the LIFE Private Placement is being conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions and in reliance on the Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities issued to purchasers in the LIFE Private Placement will not be subject to a hold period under applicable Canadian securities laws. There is an offering document related to the LIFE Private Placement that can be accessed under the Company's profile at and on the Company's website at Prospective investors should read this offering document before making an investment decision. In addition to the LIFE Private Placement, the Company announces a concurrent non-brokered private placement of up to $1,500,000 through the issuance of up to 8,571,428 Shares at a price of $0.175 per Share (the "Concurrent Private Placement" together with the LIFE Private Placement, the "Private Placement") to purchasers pursuant to other applicable exemptions under NI 45-106. All securities issued in connection with the Concurrent Private Placement will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws. The Company intends to use the gross proceeds of the Private Placement for exploration and upkeep of the Company's Tembo and Imwelo Gold Projects, and for general working capital purposes. The closing of the Private Placement is expected to occur on or about August 29, 2025 (the "Closing Date"). The closing of the Private Placement is subject to certain closing conditions, including the approval of the TSXV. The Company may pay finder's fees in cash and securities to certain arm's length finders engaged in connection with the Private Placement, subject to the approval of the TSXV. It is anticipated that insiders of the Company will participate in the Concurrent Private Placement. The participation of any insiders may be considered a related party transaction within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such insider participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on any of the exchanges or markets outlined in subsection 5.5(b) of MI 61-101, and the fair market value of the securities to be distributed to the insiders will not exceed 25% of the Company's market capitalization. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder. About Lake Victoria Gold: Lake Victoria Gold is a rapidly growing gold exploration and development company listed on the TSX Venture Exchange under the symbol "LVG". Leveraging our unique position and experience, the Company is principally focused on growth and consolidation in the highly prolific and prospective Lake Victoria Goldfield in Tanzania. The Company has a 100% interest in the Tembo project which has over 50 thousand meters of drilling and is located adjacent to Barrick's 20Moz Bulyanhulu Mine. The Company recently (August 10, 2023 and August 29, 2023) announced the acquisition of two deposits that support our objective of accretive growth and consolidation. The Imwelo project and Dora project both have potential for significant growth. LVG has assembled a highly experienced team with a track record of developing, financing, and operating mining projects in Africa with management, directors and partners owning more than 60% of the shares. Notably, the Company is grateful for the validation that comes with the support and equity investment from Barrick Gold and recent strategic partnership with Taifa Group. Taifa Group (a diverse group of companies with interests in amongst others, Mining, Telecoms, Oil & Gas, Agri Business, Pharmaceuticals and Leather) has entered into an agreement with the Company to obtain an equity stake in the Company and through its wholly owned subsidiary Taifa Mining (a wholly Tanzanian owned company), or other nominees. Taifa Mining will also carry out all the contract mining and civil works for the Imwelo project. Taifa Mining is Tanzania's largest mining contractor with over 30 years mining related experience. Taifa have been the contractor of choice to most mines in Tanzania and have maintained long and successful relationships with companies such as Petra, De Beers, Barrick, and AngloGold Ashanti. In addition, Taifa also owns the largest fleet of mining equipment in Tanzania. As a company, Taifa is committed to adopting and adhering to the latest internationally recognized standards throughout all aspects of its business. On Behalf of the Board of Directors of the Company, Simon BensteadExecutive Chairman & CFOPhone: +1 604-685-9316Email: sbenstead@ For more information, please contact: Simon BensteadExecutive Chairman & CFOPhone:+ 1 604-685-9316Email: sbenstead@ Marc CernovitchCEO & DirectorPhone: +1 604-685-9316Email: mcernovitch@ 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 NEWS RELEASE. Cautionary Statement Regarding Forward-Looking Information This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the terms and completion of the Private Placement, raising the minimum and maximum amounts of the Private Placement, the payment of finder's fees and issuance of finder's securities, the anticipated closing date and the planned use of proceeds for the Private Placement. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the ability to obtain regulatory approval for the Private Placement, the state of equity markets in Canada and other jurisdictions, market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of the Company and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for the Company's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements, and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law. NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES To view the source version of this press release, please visit Sign in to access your portfolio
