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

Lake Victoria Mining Company, Inc.

March 09, 2009 11:30 ET

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

GEITA, TANZANIA--(Marketwire - March 9, 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.

Exploration Reverse Circulation (RC) drilling started on January 29th and the drill is now located in the fifth major target location. As previously stated, at least five major target locations are known to exist on the property.

Twenty-eight holes are complete and a total of 2,836 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 Geita license covers 43.77 square kilometers. The drill has moved from the northeast part of the property into the northwestern part of the license, and remains very close to the border with AngloGold's large Geita Gold Mine.

Dr. Roger Newell stated: "Once this initial drilling phase is completed and all assays received we will complete interpretation and plan future drill targets."



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Hole Depth
Number (m) Major Observations
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GR-001 072 Saprolite, mafic intrusive, traces pyrite.
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GR-002 150 Saprolite, mafic intrusive, granite and traces of pyrite.
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GR-003 112 Saprolite, mafic intrusive, quartz veins and granite and
traces pyrite.
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GR-004 162 Saprolite, Banded Iron Formation, mafic intrusive, mafic
intrusive and traces pyrite.
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GR-005 122 Laterite, mafic intrusive, epidote, traces pyrite.
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GR-006 150 Laterite, mafic intrusive, traces of epidote, chlorite,
traces pyrite and pyrrhotite.
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GR-007 152 Saprolite, mafic intrusive, quartz veins, traces of pyrite
and pyrrhotite.
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GR-008 150 Laterite, diorite intrusive, traces of pyrite and pyrhotite.
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GR-009 086 Laterite, diorite intrusive, traces of pyrite.
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GR-010 150 Saprolite, Banded Iron Formation, feldspar porphyry-very
strong silicification, strong pyrite and pyrhotite, mafic
intrusive with pyrite, pyrrhotite.
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GR-011 098 Saprolite, granite, traces of pyrite. This hole remains in
progress.
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GR-012 080 Saprolite, granite with quartz veins and traces of pyrite.
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GR-013 104 Saprolite, banded iron formation, felsic tuffs, mafic
intrusive with traces of pyrite.
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GR-014 080 Saprolite, granite with traces of pyrite.
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GR-015 100 Saprolite, sheared mafic intrusive, traces of pyrrhotite and
pyrite.
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GR-016 150 Saprolite, sheared mafic intrusive, quartz veins and traces
of pyrrhotite and pyrite.
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GR-017 150 Saprolite, granite with quartz veins and traces of pyrite.
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GR-018 080 Saprolite, mafic intrusive with traces of pyrrhotite and
pyrite.
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GR-019 088 Saprolite, feldspar porphyry, banded iron formation,
silicified mafic intrusive and moderate pyrite.
--------------------------------------------------------------------------
GR-020 060 Saprolite, mafic intrusive, quartz veins and pyrite.
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GR-021 060 Saprolite, mafic intrusive, quartz veins.
--------------------------------------------------------------------------
GR-022 060 Saprolite, granite intrusive, quartz veins.
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GR-023 100 Saprolite, mafic intrusive, granite, quartz veins.
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GR-024 080 Saprolite, granite, quartz veins.
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GR-025 060 Saprolite, mafic intrusive, quartz veins.
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GR-026 060 Saprolite, mafic intrusive and quartz veins.
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GR-027 060 Saprolite, mafic intrusive, quartz veins and pyrite.
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GR-028 060 Saprolite, mafic intrusive, dolerite dike, feldspar porphyry
with pyrrhotite and pyrite.
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"The western area is known to contain elevated sulphide contents in black shales and greywackes, and our preliminary drill results are confirming the earlier findings," says Dr. Roger Newell upon viewing some of the rock chip samples from the RC drilling.

To date assay results for 1070 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 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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