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

Lake Victoria Mining Company, Inc.

August 13, 2009 09:15 ET

Lake Victoria Mining Company: 15 Additional Gold Tailing Piles Average 3.03 Grams per Metric Ton

GOLDEN, COLORADO--(Marketwire - Aug. 13, 2009) - Lake Victoria Mining Company, Inc. - (OTCBB:LVCA) - A 3.03 grams per metric ton average gold grade was obtained from sampling an additional fifteen gold tailing piles. The piles, measured and sampled by contracted geologists and a mining engineer, consist of previously processed gold tailing piles at Singida, Central Tanzania. The tailings were originally produced and re-processed a number of times by local artisanal miners. These latest assay results are in addition to those previously reported for seventeen gold tailing piles.

Roger Newell, President of Lake Victoria says: "These new results are encouraging and when combined with the initial results further confirm the presence of a significant amount of gold. If further engineering and metallurgical studies are positive, we hope to reach a pilot project decision in the very near future. The fact that the tailings still contain this much gold after having been reprocessed three times provides a good indication about the high gold grades present in the quartz veins themselves."

Results for the initial seventeen tailing piles were reported on August 3, 2009 and averaged 2.75 grams per metric ton. The accompanying table summarizes results for an additional fifteen tailing piles. Preliminary field measurements and calculations indicate that these latest fifteen piles contain about 4,222 metric tons of material, and that the average un-weighted gold assay grade is 3.03 grams per metric ton.



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Length Width Average Volume Density Mass Aver Au
Pile No. (m) (m) Height (m) (M3) (t/m3) (Tonnes) (g/t)
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Pile 02 12 6 1.31 94.32 2.00 188.64 2.86
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Pile 03 4 2 1.27 10.16 2.00 20.32 3.71
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Pile 04 16 8 1.80 230.40 2.00 460.80 3.99
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Pile 16 8 6 1.64 78.72 2.00 157.44 3.69
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Pile 17 12 12 1.54 221.76 2.00 443.52 2.80
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Pile 18 6 4 1.14 27.36 2.00 54.72 3.52
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Pile 19 20 10 1.93 386.00 2.00 772.00 2.69
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Pile 22 12 8 1.80 172.80 2.00 345.60 3.15
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Pile 23 12 8 1.45 139.20 2.00 278.40 2.92
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Pile 24 16 8 1.65 211.20 2.00 422.40 2.50
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Pile 34 10 8 1.75 140.00 2.00 280.00 2.96
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Pile 35 8 6 1.20 57.60 2.00 115.20 3.03
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Pile 43 12 10 1.30 156.00 2.00 312.00 1.83
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Pile 45 16 6 1.50 144.00 2.00 288.00 2.65
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Pile 46 8 4 1.29 41.28 2.00 82.56 3.10
Total 4,222 3.03
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Additional studies such as metallurgical gold recovery tests, engineering studies and statistical analysis are required to more fully evaluate these results. Preliminary findings suggest these fifteen piles may contain approximately 411 ounces of gold. If a weighted average gold grade is calculated according to the tonnes in a pile, the weighted average gold grade is 3.45 grams per metric ton; about 468 ounces of gold could be contained in these fifteen piles. As previously reported, 75 tailing piles containing and estimated 20,000 metric tons are scheduled to be studied in the current program.

If additional sampling and assays continue to prove successful, the gold tailing piles will become the first stage of our gold production as we continue to develop this area into an important commercial gold mining district.

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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