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

Lake Victoria Mining Company, Inc.

September 20, 2010 09:15 ET

Lake Victoria Completes Drilling of Sambaru 3, 4 and 5 Targets at Singida Gold Project, Tanzania and Submits the First Batch of Samples for Gold Assaying

GOLDEN, COLORADO--(Marketwire - Sept. 20, 2010) - Lake Victoria Mining Company, Inc. (OTCBB:LVCA) Drilling commenced at the Singida Gold Project on August 30th, and to date, a total of 35 boreholes have been completed at the Sambaru 3, 4 and 5 prospects, amounting to 2,600 meters of the planned 6,000 meter drill program. The first consignment of samples, consisting of 820 samples and including 120 quality control samples, have been submitted to SGS Laboratories in Mwanza Tanzania for 50 gram fire analysis for gold.

Borehole samples have been collected at 1 meter intervals down-hole, and a 4 meter composite sample, consisting of an equal weighted portion from each meter, that have been submitted for analysis.

Geological logging and panning of the boreholes drilled at Sambaru 3 have been reported in the Company's news release of the 7 September 2010.

Recent drilling at Sambaru 4, to test the 700 meter strike length of artisanal workings along 80 meter spaced northeast-southwest oriented drill fences, is partially complete. At least two mineralized structures, containing elevated sulfide minerals of pyrite and/or arsenopyrite, have been intersected on most drill fences with wider intercepts of 8 meters to 23 meters being recorded from the central part of the mineralizing trend. In places, a number of localized cross-cutting northeast-southwest trending faults appear to either truncate or to offset the strike length of the mineralization. 

Drilling is currently underway at Sambaru 5, located 500 meters along strike and northwest from Sambaru 4. Abundant artisanal surface mine pits and shafts cover an area of 15,000 square meters. Shallow surface drilling to depths of 60 meters has so far intersected 4 narrow, highly oxidized zones in which arsenopyrite and pyrite mineralization are present.

Once the initial drilling at Sambaru 5 is complete, the drill will return to Sambaru 4 to test a number of recently planned boreholes on the south-eastern end of that prospect. These additional holes may have the potential to extend the strike of the Sambaru 4 mineralized zone an additional 500 meters to the southeast.

Drilling, to test the 550 meter mineralized strike length at Sambaru 2, as indicated by artisanal workings, is expected to commence in approximately one week. The Sambaru 2 prospect area is located 250 meters to the southeast of the Sambaru 3 prospect.

Drilling is providing a three dimensional understanding of the lithological and structural controls for gold mineralization at the five Sambaru gold prospects and this three dimensional information is of great assistance and allows for continual revision of the on-going drill program. Assays and up-dates on the current program will be provided as they become available.

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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