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

Lake Victoria Mining Company, Inc.

January 13, 2011 09:05 ET

Lake Victoria Provides Corporate Update: Handeni Properties, NI 43-101 Reports and 2011 Exploration Strategy

GOLDEN, COLORADO--(Marketwire - Jan. 13, 2011) - Lake Victoria Mining Company, Inc. ("Lake Victoria" or the "Company") (OTCBB:LVCA) has provided its 2011 exploration strategy, its plans to pursue certain strategic property acquisitions in the Handeni area of Tanzania and the preparation of National Instrument 43-101 reports on its mineral projects. 

Utilizing its Tanzanian technical team, the Company is reviewing several strategic property acquisition opportunities in the Handeni area of Tanzania. Each of the potential property acquisitions would include areas of extensive small scale mining activities. The Handeni Gold District in eastern Tanzania contains numerous artisanal gold discoveries over several hundred kilometres. The recent discovery of Magambazi on Canaco's Handeni Project has upgraded the poorly known area to become a major gold exploration province within Tanzania. There is no assurance that the Company will complete any property acquisitions as planned or at all.

The Company has loaded its 2011 exploration strategy along with drill sections from both, the Singida gold project and Musoma Bunda - Kinyambwiga gold project, onto the Company's corporate website at www.lvcamining.com. The 2011 exploration strategy is located within the corporate presentation within the "News Releases" section of the website and the drill sections are accessed at the top of the Singida project and Musoma Bunda project web pages.

The Company expects that its entire Tanzania exploration team will return to the field on January 14th and exploration is planned at different stages to commence on 11 of the Company's gold prospects throughout the first quarter of 2011. Depending on the specific gold prospect, exploration may include drilling, soil and rock sampling, trenching and pitting, ground magnetic and Induced Polarization geophysical surveys and mapping. The Company's exploration is aimed at advancing one or more of its projects to a commercially feasible resource. 

Four NI 43-101 Technical Reports are currently being prepared by the Company's consulting geologists and the Company expects all of them to be completed in January, 2011 specifically for the Singida, Musoma Bunda (Kinyambwiga), Geita and Kalemela gold projects.

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 gold exports alone earned it $1.076 billion in 2009, up from $932.4 million the previous year. Lake Victoria holds eight 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.

Forward Looking Statements

This news release may contain forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and within the meaning of Canadian provincial securities laws applicable to the Company. Forward-looking statements are typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "will" and similar expressions, or are those, which, by their nature, refer to future events. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to obtaining financing to meet the Company's exploration programs and operating costs during its exploratory stage, the interpretation of exploration results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, inability to complete development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, or other unanticipated difficulties with or interruptions in production and operations, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including the inability to obtain mining permits and environmental regulatory restrictions and liability, the speculative nature of mineral exploration, dilution, competition, loss of key employees, inability to negotiate the acquisition of properties on acceptable commercial terms and other risks and uncertainties, including those described under "Risk Factors" in the Company's Annual Report on Form 10-K filed on July 14, 2010, which is on file with the Securities and Exchange Commission, as well as the Company's periodic filings available at www.sec.gov and with Canadian Securities Administrators at www.sedar.com. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as is required under applicable securities laws.

Cautionary note to U.S. Investors -- The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this press release, such as "mineralized zones" which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosures in our annual report on Form 10-K. This press release contains information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

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