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

Lake Victoria Mining Company, Inc.

August 31, 2010 09:15 ET

Lake Victoria Begins Drilling at Singida-Londoni Gold Project, Central Tanzania

GOLDEN, COLORADO--(Marketwire - Aug. 31, 2010) - Lake Victoria Mining Company (OTCBB:LVCA) began Reverse Circulation (RC) drilling, Monday August 30th at the Sambaru Target 3, one of five drill targets, located at its central Tanzania, Singida-Londoni Gold Project. Commencing on schedule, the first three holes totalling 217 meters of the planned 6000-meter drilling program are complete.

Seventy-six (76) RC boreholes will test the five confirmed targets of Sambaru, all of which are located within the Company's five kilometre long Singida-Londoni Gold Project. A recently discovered geochemical extension to the Sambaru Target 4 (press release 9 August 2010) has been included in this drilling program.

Drill samples will be sent weekly to a registered laboratory in Tanzania and initial gold assays are expected to be available by late September. Roger Newell, President of Lake Victoria Mining Company expressed, "We are pleased to see the drilling program commence on time and look forward with anticipation to the assay results which will begin to reveal what the Company's Singida-Londoni Gold Project contains as a gold resource."

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 is Africa's third largest gold producer, behind South Africa and Ghana, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $1.076 billion in 2009, up from $932.4 million the previous year. Lake Victoria holds eleven prospective gold projects and five uranium projects within its Tanzania property portfolio. 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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