Lake Victoria Mining Company, Inc.
OTC Bulletin Board : LVCA

Lake Victoria Mining Company, Inc.

August 06, 2009 09:15 ET

Lake Victoria Mining Company Identifies Five Kilometer Long Gold Trend; Assay Results Average 7.1 Grams Per Metric Ton From Underground Sampling, Singida Project, Tanzania

GOLDEN, COLORADO--(Marketwire - Aug. 6, 2009) - Lake Victoria Mining Company, Inc. (OTCBB:LVCA) -

Underground shaft sampling of artisanal mines at the Singida "Gold Rush" project has produced an average grade of 7.1 grams of gold per metric ton; 175 underground samples were taken from 36 mine shafts and related mine workings. These initial results suggest that gold is present for a distance of five kilometers where the mine shafts are located.

A total of thirty-six mine shafts and related underground mine workings were sampled between June 13th and July 8th, 2009, within a 5 kilometer long trend, and in an area of active artisanal mining. Numerous artisanal mine shafts and workings have exposed steeply dipping, northwest-southeast trending gold bearing quartz veins that are accessible for mapping and sampling. Where sampled, the veins vary from about 30 centimeters to 2 meters thick.

A total of 175 vein and wall rock samples were collected; the maximum accessible sampling depth was 47 meters below surface. The samples were analyzed at laboratories in Mwanza, Tanzania, and quality control samples were analyzed along with the underground samples. The underground assays have an uncut average value of 7.1 grams per metric ton, or 0.23 ounces per ton. Dr. Roger Newell, president of Lake Victoria, stated, "These assay results are very encouraging and confirm the importance of the property. We look forward to further advancing the property with additional sampling and possible underground drilling." Further sampling, statistical analysis and geologic-geophysical mapping are underway in an attempt to closely define and extend the strike length of the quartz vein system. Additional results will be reported as they become available.

Geologically, the quartz veins lie within Precambrian mafic volcanic rocks that are part of a larger greenstone belt. The Company is conducting a detailed ground magnetic survey to assist in defining gold bearing geological structures and to further extend the vein structures. Initial indications are that the veins continue at depth below 47 meters and for distances beyond a 5 kilometer strike length. If additional exploration continues to prove successful, this area will develop into an important commercial gold mining district.



Summary Table: Underground Gold Assay Results, Singida District, Tanzania

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Shaft Sample Depth Au Sample
No. No. (m) (g/t) Description
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SH001 LNSH001 4 0.58 10cm
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LNSH002 4 2.94 FW
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LNSH003 4 0.12 HW
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SH002 LNSH004 4 0.04 30cm
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LNSH005 4 0.08 FW
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LNSH006 4 0.05 HW
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SH003 LNSH007 28 1.7 30cm
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LNSH008 28 0.03 FW
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LNSH009 28 7.62 HW
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SH004 LNSH010 41 5.0 50cm
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LNSH011 41 10.1 50cm
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LNSH012 41 18.6 50cm
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LNSH013 41 3.07 50cm
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LNSH014 41 27.7 FW
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LNSH015 41 0.91 HW
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SH005 LNSH016 18 3.21 50cm
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LNSH017 18 5.86 50cm
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LNSH018 18 3.55 50cm
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LNSH019 18 1.41 FW
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LNSH021 18 21.0 HW
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SH006 LNSH022 40.7 1.91 25cm
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LNSH023 40.7 1.76 25cm
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LNSH024 40.7 0.38 FW
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LNSH025 40.7 2.6 HW
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SH007 LNSH026 44 2.48 30cm
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LNSH027 44 2.94 Duplicate of LNSH026
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LNSH028 44 0.52 FW
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LNSH029 44 15.9 HW
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SH008 LNSH030 30 9.68 25cm
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LNSH031 30 8.71 25cm
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LNSH032 30 9.54 25cm
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LNSH033 30 12.4 25cm
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LNSH034 30 1.61 FW
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LNSH035 30 2.69 HW
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SH009 LNSH036 33 3.29 30cm
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LNSH037 33 2.84 Duplicate of LNSH036
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LNSH038 33 3.16 FW
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LNSH039 33 0.16 HW
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SH010 LNSH041 3 1.68 30cm
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LNSH042 3 1.38 Duplicate of LNSH041
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LNSH043 3 0.47 FW
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LNSH044 3 1.3 HW
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SH011 LNSH045 8 0.41 30cm
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LNSH046 8 0.21 Duplicate of LNSH045
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LNSH047 8 0.47 FW
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LNSH048 8 0.05 HW
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SH012 LNSH049 3 3.37 20cm
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LNSH050 3 1.36 Duplicate of LNSH049
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LNSH051 3 0.03 FW
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LNSH052 3 0.02 HW
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SH013 LNSH053 3 3.90 20cm
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LNSH054 3 1.16 Duplicate of LNSH053
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LNSH055 3 0.08 FW
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LNSH056 3 1.04 HW
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SH014 LNSH057 10 1.65 30cm
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LNSH058 10 0.93 30cm
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LNSH059 10 0.38 CH
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LNSH061 10 1.65 FW
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LNSH062 10 0.11 HW
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SH015 LNSH063 18 140.0 30cm
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LNSH064 18 21.8 30cm
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LNSH065 18 82.8 CH
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LNSH066 18 0.15 FW
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LNSH067 18 0.50 HW
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SH016 LNSH068 2 4.11 20cm
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LNSH069 2 1.67 Duplicate of LNSH068
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LNSH070 2 3.41 CH
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LNSH071 2 0.33 FW
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LNSH072 2 0.22 HW
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SH017 LNSH073 5 71.0 20cm
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LNSH074 5 59.6 Duplicate of LNSH073
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LNSH075 5 37.8 CH
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LNSH076 5 4.38 FW
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LNSH077 5 0.57 HW
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SH018 LNSH078 11 4.31 30cm
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LNSH079 11 89.5 Duplicate of LNSH078
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LNSH081 11 27.6 CH
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LNSH082 11 0.55 FW
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LNSH083 11 3.10 HW
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LNSH084 24 1.35 50cm
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LNSH085 24 18.6 50cm
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LNSH086 24 32.5 CH
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LNSH087 24 1.61 FW
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LNSH088 24 3.69 HW
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SH019 LNSH089 31 1.77 25cm
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LNSH090 31 48.4 25cm
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LNSH091 31 11.9 CH
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LNSH092 31 0.23 FW
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LNSH093 31 11.8 HW
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SH020 LNSH094 3 0.16 20cm
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LNSH095 3 0.18 Duplicate of LNSH094
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LNSH096 3 0.16 CH
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LNSH097 3 0.27 FW
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LNSH098 3 1.83 HW
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SH021 LNSH099 21 9.85 25cm
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LNSH101 21 5.89 25cm
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LNSH102 21 7.49 CH
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LNSH103 21 1.41 FW
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LNSH104 21 0.22 HW
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SH022 LNSH105 4 0.29 45cm
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LNSH106 4 0.18 Duplicate of LNSH105
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LNSH107 4 0.25 CH
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LNSH108 4 0.76 FW
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LNSH109 4 0.26 HW
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SH023 LNSH110 3 0.02 25cm
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LNSH111 3 0.03 25cm
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LNSH112 3 0.01 CH
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LNSH113 3 0.02 FW
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LNSH114 3 0.11 HW
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SH024 LNSH115 3 0.01 40cm
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LNSH116 3 0.24 Duplicate of LNSH115
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LNSH117 3 0.02 CH
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LNSH118 3 0.01 FW
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LNSH119 3 0.02 HW
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SH025 LNSH121 47 0.4 25cm
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LNSH122 47 2.32 25cm
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LNSH123 47 2.36 CH
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LNSH124 47 0.02 FW
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LNSH125 47 0.30 HW
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SH026 LNSH126 23 10.8 20cm
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LNSH127 23 9.47 CH
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LNSH128 23 0.45 FW
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LNSH129 23 3.75 HW
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SH027 LNSH130 42 28.0 20cm
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LNSH131 42 13.7 20cm
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LNSH132 42 5.32 CH
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LNSH133 42 0.88 FW
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LNSH134 42 0.57 HW
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SH028 LNSH135 32 1.62 30cm
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LNSH136 32 2.25 Duplicate of LNSH135
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LNSH137 32 17.8 CH
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LNSH138 32 0.21 FW
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LNSH139 32 0.41 HW
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SH029 LNSH141 40 1.95 30cm
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LNSH142 40 1.03 Duplicate of LNSH141
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LNSH143 40 0.85 CH
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LNSH144 40 0.19 FW
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LNSH145 40 3.23 HW
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SH030 LNSH146 4 0.08 25cm
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LNSH147 4 0.11 CH
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LNSH148 4 0.23 FW
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LNSH149 4 0.51 HW
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SH031 LNSH150 18 0.07 20cm
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LNSH151 18 0.05 20cm
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LNSH152 18 0.17 CH
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LNSH153 18 0.57 FW
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LNSH154 18 0.15 HW
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SH032 LNSH155 2 3.08 30cm
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LNSH156 2 2.29 CH
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LNSH157 2 4.63 FW
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LNSH158 2 2.43 HW
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SH033 LNSH159 4 1.44 30cm
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LNSH161 4 9.55 CH
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LNSH162 4 2.53 FW
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LNSH163 18 0.85 HW
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LNSH164 16 6.14 30cm
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LNSH165 16 29.1 Duplicate of LNSH164
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LNSH166 16 24.0 CH
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LNSH167 16 0.37 FW
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LNSH168 16 0.82 HW
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SH034 LNSH169 16 0.56 25cm
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LNSH170 16 0.97 25cm
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LNSH171 16 0.26 CH
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LNSH172 16 0.10 FW
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LNSH173 16 0.15 HW
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LNSH174 16 0.94 15cm
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LNSH175 16 0.20 FW
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LNSH176 16 1.0 HW
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SH035 LNSH177 18.5 11.8 20cm
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LNSH178 18.5 28.6 CH
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LNSH179 18.5 0.22 HW
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LNSH181 18.5 0.02 FW
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SH036 LNSH182 25.5 61.5 12cm
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LNSH183 25.5 0.84 HW
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LNSH184 25.5 0.12 FW
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Notes for the Summary Table:
Cm means vein width in centimeters.
Depth means distance the sample was collected below surface.
FW means sample was collected in the footwall of the vein.
HW means sample was collected in the hanging wall of the vein.
CH means chip sample from exposed vein area.
Standard samples for check assay references are omitted from table.


About the Company

Lake Victoria Mining Company, Inc. is working to create another gold mine in the world famous Lake Victoria Greenstone Belt, Tanzania, East Africa. Tanzania produced 1.75 million troy ounces of gold during 2007 and is the 3rd largest gold producer in Africa behind South Africa and Ghana.

Additional information regarding the Company is available on the corporate website at: www.lakevictoriaminingcompany.com.

Disclaimer

This news release may contain forward looking statements, relating to the Company's operations or the environment in which it operates, which are based on Lake Victoria Mining Company, Inc.'s operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or beyond Lake Victoria Mining Company, Inc.'s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place undue reliance on such forward-looking statements. Lake Victoria Mining Company, Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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