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

Lake Victoria Mining Company, Inc.

March 04, 2009 09:00 ET

Lake Victoria Mining Company Reports Drill Progress at Geita Gold Project, Northern Tanzania

GEITA, TANZANIA--(Marketwire - March 4, 2009) - Lake Victoria Mining Company (OTCBB:LVCA) is pleased to provide an update on drilling progress at its Geita Gold Project in northern Tanzania, about 80 kilometers west of the city of Mwanza. The Property totals 43.77 sq km and shares an 11 kilometer northern boundary with AngloGold-Ashanti's world class Geita Gold Mine.

Exploration Reverse Circulation (RC) drilling started on January 29th and to date four major target locations have been tested. As previously stated, at least five major target locations are known to exist on the property, and the drill program is proceeding systematically to test those targets. Testing of the fifth target is scheduled to begin shortly.

Twenty-five holes are complete and a total of 2,556 meters have been drilled. The Geita program called for a total of 6,000 meters of drilling, with anticipated pre-drilling hole depths of 150 meters. The current drill program is concentrated in the north central part of the license, very close to the border with AngloGold's Geita Mine.



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Hole Depth Major
Number (m) Observations
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GR-020 60 Saprolite, mafic intrusive, quartz veins and pyrite.
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GR-021 60 Saprolite, mafic intrusive, quartz veins.
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GR-022 60 Saprolite, granite intrusive, quartz veins.
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GR-023 100 Saprolite, mafic intrusive, granite, quartz veins.
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GR-024 80 Saprolite, granite, quartz veins.
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GR-025 60 Saprolite, mafic intrusive, quartz veins.
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To date assay results for 920 samples have been received; it is anticipated that this phase of the drilling program will consist of about 2000 samples. The samples are being processed at the internationally accredited SGS laboratory in Mwanza; additional results will be provided as the information becomes 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 produced 1.75 million troy ounces of gold during 2007 and is the 3rd largest gold producer in Africa behind South Africa and Ghana. Lake Victoria Mining Company, Inc. currently holds an ownership and option interest in the Geita, Kalemela, Igusule and Bahi-Hombolo projects along with Geo Can Resources Company Limited (Tanzania), a subsidiary of Kilimanjaro Mining Company Inc. of Nevada. Kilimanjaro Mining Company's website is www.kilimanjarominingcompany.com.

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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