{"success":true,"data":{"pressRelease":{"id":"129106","rtpr_id":"nPn183z75a","ticker":"LVG","exchange":"","all_tickers":["LVG"],"title":"LAKE VICTORIA GOLD INTERSECTS 28.71 G/T AU OVER 2.75 M AND 12.20 G/T AU OVER 4.50 M IN SHALLOW AREA C DRILLING AT IMWELO","author":"PR Newswire","published_at":"2026-08-27T11:00:04.066Z","article_body":"LAKE VICTORIA GOLD INTERSECTS 28.71 G/T AU OVER 2.75 M AND 12.20 G/T AU OVER 4.50 M IN SHALLOW AREA C DRILLING AT IMWELO\n\nPR Newswire\n\nVANCOUVER, BC, Aug. 27, 2026\n\nTargeted whole-core metallurgical program on weathered ore advances\nclay-handling and final process-design decisions for the planned initial\nmining area\n\nVANCOUVER, BC, Aug. 27, 2026 /PRNewswire/ -- Lake Victoria Gold Ltd. (TSXV:\nLVG) (OTCQB: LVGLF) (FSE: E1K) (\"LVG\" or the \"Company\") is pleased to report\nhigh-grade, near-surface assay results from recent HQ diamond drilling at its\nfully permitted Imwelo Gold Project (\"Imwelo\" or the \"Project\") in Tanzania,\nincluding 28.71 g/t gold (\"Au\") over 2.75 metres from 21.00 metres in hole\nIMWDR029 and 12.20 g/t Au over 4.50 metres from 32.00 metres in hole\nIMWDR028.  Individual quartz-vein samples within these intervals returned up\nto 142.90 g/t Au and 124.83 g/t Au, respectively.\n\nThe intercepts occur within the shallow, highly weathered mineralized sequence\nat Area C, the Company's planned initial open-pit mining area, and provide\nadditional data for detailed mine planning and grade-control work. In\nparallel, whole-core samples from the eight HQ drillholes have been submitted\nto independent metallurgical laboratory Nesch Mintech Tanzania Limited for a\ncomprehensive testwork program that will determine the metallurgical character\nof the weathered mineralization. In particular, the testwork will establish\nwhether clay removal through scrubbing and screening of the weathered ore will\nbe necessary, and will characterize the effect of the clay on the processing\nparameters and flowsheet.\n\nKey Highlights\n\n * 28.71 g/t Au over 2.75 m from 21.00 m in IMWDR029, including 59.77 g/t Au over\n1.30 m from 21.00 m, with an individual 0.50 m quartz-vein sample returning\n142.90 g/t Au.\n * 12.20 g/t Au over 4.50 m from 32.00 m in IMWDR028, including 27.94 g/t Au over\n1.90 m from 33.00 m, with an individual 0.40 m quartz-vein sample returning\n124.83 g/t Au.\n * Shallow mineralization within the Area C mining horizon: the two strongest\nreported intervals commence at only 21 metres and 32 metres downhole,\nrespectively, within weathered saprolitic and quartz-vein material.\n * Weathered-ore metallurgical program underway: whole-core testwork will define\nthe preferred treatment route for the clay-rich near-surface material,\nspanning baseline recovery, desliming and attrition scrubbing.\n * Direct integration into development planning: results will inform the final\nArea C process flowsheet, treatment-rate assumptions and plant configuration\nwhile supporting further grade-control planning, detailed pit design and mine\nscheduling.\nManagement Commentary\n\nMarc Cernovitch, President & CEO of Lake Victoria Gold,\ncommented: \"These results reinforce the high grade, near surface character of\nArea C, and the metallurgical program now underway addresses a key input to\nour flowsheet design. Confirming how the clay rich surface mineralized\nmaterial behaves, alongside the strong recoveries already established for our\nsulphide and transitional mineralized material, supports sound plant design\ndecisions and keeps our focus on disciplined capital and execution on the path\nto first gold.\"\n\nShallow High-Grade Results at Area C\n\nThe eight holes total 225 m and span approximately 240 m of strike at Area C.\nFour of these holes, IMWDR025, IMWDR026, IMWDR027 and IMWDR030, intersected\nvoids created by historical artisanal mining, where the shallow mineralized\nzone had been removed. Results for all eight holes are summarized below:\n\n \n Hole ID   From (m)       Interval (m)   Grade (g/t Au)  Including\n IMWDR024  13.00          1.00           0.70            —\n IMWDR024  15.20          0.35           0.38            —\n IMWDR025  Hole intersected void (historical artisanal mining)\n IMWDR026  Hole intersected void (historical artisanal mining)\n IMWDR027  Hole intersected void (historical artisanal mining)\n IMWDR028  32.00          4.50           12.20           27.94 g/t Au over 1.90 m from 33.00 m, including 124.83 g/t Au over 0.40 m\n                                                         from 34.50 m\n IMWDR029  21.00          2.75           28.71           59.77 g/t Au over 1.30 m from 21.00 m, including 142.90 g/t Au over 0.50 m\n                                                         from 21.80 m\n IMWDR030  Hole intersected void (historical artisanal mining)\n IMWDR031  21.90          2.50           0.96            3.73 g/t Au over 0.40 m from 24.00 m\n\n \n QA/QC Notes:\n Collar coordinates                Arc 1960 UTM 36S\n Collar azimuth                    Degrees – 0° is north\n Collar dip                        Degrees – negative is down\n Sample type                       DD – diamond drill\n True Width                        True Width have not yet been determined\n QAQC                              Internal – every 20th sample is a Blank Sample, CRM & Duplicate sample.\n                                   Nesch Mintech Lab results all  passed QAQC.\n Sample core size                  Whole HQ core\n Analytical procedure              Nesch Mintech Tanzania Limited – Mwanza, Procedure LM-02/1, Standards\n                                   ISO/IEC 17025 and ISO 9001\n\n \n\nCompleting the Metallurgical Picture at Area C\n\nThe current testwork is designed to complement the results announced by LVG\non March 18, 2026 under the headline \"Lake Victoria Gold Confirms up to\nApproximately 97% Gold Recovery and Free-Milling Metallurgy at the Imwelo Gold\nProject.\"\n\nThat program demonstrated strong metallurgical performance from transitional\nand fresh sulphide material, including recoveries of up to approximately\n96–97% using conventional gravity concentration and cyanide leaching and a\nsignificant gravity-recoverable gold component.\n\nThe new program targets the shallow end of the mining sequence. Previous\ngeotechnical work identified a weathered near-surface zone at Area C extending\nlocally to approximately 40–60 metres depth. This material is expected to be\namenable to free-dig mining but is characterized by significant weathering and\nclay content, creating different material-handling and processing\nconsiderations from the stronger transitional and fresh rock below.\n\nBy testing this material independently, LVG is seeking to establish the\npreferred front-end treatment configuration before finalizing the process\nflowsheet.\n\nTargeted Weathered-Ore Testwork\n\nWhole-core samples have been submitted to Nesch Mintech Tanzania Limited for\na program specifically designed to quantify the effect of clay on material\nhandling, gold liberation and recovery.\n\nThree principal treatment conditions will be evaluated: untreated whole ore to\nestablish a baseline; washing and desliming to determine whether removal of\nfine clay improves processing performance; and attrition scrubbing followed by\ndesliming to determine whether breaking down clay aggregates improves gold\nliberation and recovery. Gravity recovery and cyanide leaching will be\nevaluated across the relevant treatment conditions.\n\nSupporting work will include grind sensitivity at target product sizes of P80\n125 µm, 106 µm and 75 µm; size-by-assay analysis; gravity separation;\nbottle-roll cyanidation; slurry rheology and settling tests; density\nmeasurements; head-grade determination; and multi-element characterization.\n\nThe objective is practical: to determine whether additional front-end\nclay-handling equipment materially improves processing performance and, if so,\nto define the appropriate configuration before the final plant design is\ncompleted. The results will inform recovery assumptions, treatment rate,\nequipment selection, operating parameters and capital scope for the Area C\nflowsheet.\n\nAdvancing Area C Toward Development\n\nThe drilling and metallurgical work form part of a broader integrated\ndevelopment program at Imwelo.\n\nArea C is the Company's planned initial mining area, and LVG is advancing\ndetailed pit design, grade-control planning, process optimization and site\ndevelopment in parallel. Phase 1 earthworks have commenced, including\naccess-road improvements and preparation of the plant-site footprint, while\ndevelopment of the site camp and supporting infrastructure continues.\n\nNext Steps\n\nOn completion of the weathered-ore testwork, LVG will select the preferred\nfront-end treatment route for Area C and integrate the results into the final\nflowsheet and plant design. In parallel, the Company will shortly continue\ngrade-control drilling, finalize the Area C pit design and production\nschedule, and advance site development at Imwelo.\n\nDrillhole Collar Details\n\n \n BHID      EAST        NORTH        RL        DIP  AZIMUTH  DEPTH\n IMWDR024  377996.480  9679047.360  1183.900  -50  190      25.5\n IMWDR025  377999.180  9679066.260  1182.810  -50  190      19.5\n IMWDR026  378091.545  9679053.622  1182.224  -50  190      25.5\n IMWDR027  378098.145  9679062.647  1181.567  -50  190      19.5\n IMWDR028  378163.903  9679061.648  1179.944  -50  188      40\n IMWDR029  378177.000  9679049.000  1179.000  -50  188      40\n IMWDR030  378187.000  9679047.000  1179.000  -50  188      15\n IMWDR031  378188.000  9679048.000  1179.000  -50  188      40\n\n \n\nCautionary Note on Production Decision\n\nAlthough Imwelo has been the subject of JORC-compliant PEA, PFS and updated\nPFS work, these foreign-code studies are not current under NI 43-101. The\nCompany has not completed a feasibility study on Imwelo that establishes\nmineral reserves demonstrating economic and technical viability and is not\ntreating the JORC-based estimates or analyses as current under CIM Definition\nStandards. Any decision to commence production is not based on a feasibility\nstudy of mineral reserves and therefore involves increased uncertainty and a\nhigher risk of economic and technical failure. There is no certainty that the\nplanned low-capex open-pit operation will be economically viable or that\nproduction will occur as anticipated. Risks include, without limitation,\nvariations in grade and recovery, unexpected geotechnical or metallurgical\nchallenges, cost overruns, funding availability, and operational, regulatory,\nor permitting risks.\n\nQualified Person\n\nThe scientific and technical information contained in this news release has\nbeen reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person\nas defined by National Instrument 43-101 – Standards of Disclosure for\nMineral Projects. Mr. Scott is a Director and Officer of the Company.\n\nAbout Lake Victoria Gold:\nLake Victoria Gold is a rapidly growing gold exploration and development\ncompany listed on the TSX Venture Exchange under the symbol LVG. Leveraging\nour unique position and experience, the Company is principally focused on\ngrowth and consolidation in the highly prolific and prospective Lake Victoria\nGoldfield in Tanzania.\n\nThe Company has a 100% interest in the Tembo project which has over fifty\nthousand meters of drilling and is located adjacent to Barrick's Bulyanhulu\nMine. The Company also holds a 100% interest in the Imwelo Project which is a\nfully permitted gold project west of AngloGold Ashanti's Geita Gold Mine. With\nhistorical resource estimates and a JORC Compliant 2021 pre-feasibility study,\nthe project is fully permitted for mine construction and production,\npositioning it as a near-term development opportunity.\n\nLVG has assembled a highly experienced team with a track record of developing,\nfinancing, and operating mining projects in Africa with management, directors\nand partners owning more than 60% of the shares. Notably, the Company is\ngrateful for the validation that comes with the support and equity investment\nfrom Barrick (https://api.newsfilecorp.com/redirect/OAnqvF2EjN)  and\nstrategic partnership with Taifa Group\n(https://api.newsfilecorp.com/redirect/PqKnJsg3YY) .\n\nTaifa Group (a diverse group of companies with interests in amongst others,\nMining, Telecoms, Oil & Gas, Agri Business, Pharmaceuticals and Leather)\nhas entered into an agreement with the Company to obtain an equity stake in\nthe Company and through its wholly owned subsidiary Taifa Mining (a wholly\nTanzanian owned company), or other nominees. Taifa Mining will also conduct\nall the contract mining and civil works for the Imwelo project. Taifa Mining\nis Tanzania's largest mining contractor with over 30 years mining related\nexperience. Taifa have been the contractor of choice to most mines in Tanzania\nand have maintained long and successful relationships with companies such as\nPetra, De Beers, Barrick, and AngloGold Ashanti. In addition, Taifa also owns\nthe largest fleet of mining equipment in Tanzania. As a company, Taifa is\ncommitted to adopting and adhering to the latest internationally recognized\nstandards throughout all aspects of its business.\n\nOn Behalf of the Board of Directors of the Company,\n\nSimon Benstead\nExecutive Chairman & CFO\nPhone: +1 604-685-9316\nEmail: sbenstead@lakevictoriagold.com (mailto:sbenstead@lakevictoriagold.com)\n \n\nFor more information, please contact:\n\nSimon Benstead\nExecutive Chairman & CFO\nPhone:+ 1 604-685-9316\nEmail: sbenstead@lakevictoriagold.com (mailto:sbenstead@lakevictoriagold.com)\n \n\nMarc Cernovitch\nCEO & Director\nPhone: +1 604-685-9316\nEmail: mcernovitch@lakevictoriagold.com\n(mailto:mcernovitch@lakevictoriagold.com)\n\nNEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT\nTERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS\nRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.\n\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS\n\nThis news release includes certain \"forward-looking information\" within the\nmeaning of applicable Canadian securities legislation, including, without\nlimitation: the maiden Mineral Resource Estimate for the Tembo Gold Project\nand the assumptions underlying it; the potential upgrading of Inferred Mineral\nResources to higher confidence categories and the conversion and growth of\nMineral Resources through further exploration and drilling; the planned\nclose-spaced drilling program of approximately 5,000 metres at Ngula 1 on an\napproximately 20 m by 20 m pattern, and the anticipated timing, scope, results\nand benefits thereof, including improved geological confidence, resource\nconversion and support for future mine planning; the advancement of resource\nconversion and mine planning at Ngula 1 and the potential development of a\ncapital-light production pathway; the previously announced toll-milling\narrangement with Nyati Resources (T) Limited in respect of a 500-tonne-per-day\nprocessing plant, and the confirmatory drilling, permitting, financing and\nnegotiation and execution of a definitive agreement in connection therewith;\nthe potential for near term production at Tembo; the potential receipt of up\nto US$45 million in contingent, ounce-based payments under the Company's\nDecember 2021 asset purchase agreement with Bulyanhulu Gold Mine Limited; the\ninterpretation of geological and structural continuity between the Tembo\nlicences and the adjacent Bulyanhulu Mine, and the exploration potential of\nthe 39 identified targets, including step-out and extension drilling and the\npotential for mineralization to extend below currently drilled depths; the\nplanned reinterpretation of historical aeromagnetic data and assessment of\nfollow-up airborne electromagnetic surveying; the filing of the supporting NI\n43-101 Technical Report under the Company's SEDAR+ profile within 45 days of\nthis news release; and the receipt of required regulatory and governmental\napprovals. All statements in this news release that address events or\ndevelopments that the Company expects to occur in the future are\nforward-looking statements.\n\nForward-looking statements are statements that are not historical facts and\nare generally, although not always, identified by words such as \"expect\",\n\"plan\", \"anticipate\", \"project\", \"target\", \"potential\", \"schedule\",\n\"forecast\", \"budget\", \"estimate\", \"intend\" or \"believe\" and similar\nexpressions or their negative connotations, or that events or conditions\n\"will\", \"would\", \"may\", \"could\", \"should\" or \"might\" occur. All such\nforward-looking statements are based on the opinions and estimates of\nmanagement as of the date such statements are made.\n\nForward-looking statements necessarily involve assumptions, risks and\nuncertainties, certain of which are beyond LVG's control, including risks\nassociated with or related to: the fact that Mineral Resources are not Mineral\nReserves and do not have demonstrated economic viability; that Inferred\nMineral Resources are estimated with a lower level of confidence and that it\ncannot be assumed that all or any part of an Inferred Mineral Resource will be\nupgraded to an Indicated Mineral Resource or converted to Mineral Reserves;\nthe risk that further drilling, including the planned close-spaced program at\nNgula 1, does not confirm the continuity, geometry or grade of mineralization\nor does not result in resource conversion or growth; delays in, or the failure\nto complete, drilling, permitting, financing, or the negotiation and execution\nof a definitive toll-milling agreement with Nyati Resources (T) Limited; the\nrisk that the proposed toll-milling arrangement is not completed on the terms\ndescribed, or at all, and that production does not result; the risk that any\ndecision to commence production would not be based on a feasibility study of\nMineral Reserves demonstrating economic and technical viability and would\ntherefore involve increased uncertainty and multiple technical and economic\nrisks of failure; the risk that the contingent, ounce-based payments under the\nCompany's asset purchase agreement with Bulyanhulu Gold Mine Limited are not\nreceived, in whole or in part, as those payments depend on exploration and\ndevelopment success achieved by Bulyanhulu Gold Mine Limited on the acquired\nlicences, which is outside the Company's control; the risk that mineralization\non adjacent or nearby properties, including the Bulyanhulu Mine, is not\nnecessarily indicative of mineralization on the Tembo Project, and that\ngeological and structural interpretations are interpretive; the risk that\nhistorical drilling and surface sampling results are not necessarily\nindicative of the grade or continuity of mineralization within the Mineral\nResource; the availability of financing on acceptable terms or at all; the\nreceipt of all required regulatory approvals; the volatility of metal prices\nand LVG's common shares; actual development plans and costs differing\nmaterially from the Company's estimates; delays in the filing of the\nsupporting technical report; and other risks disclosed in the Company's public\nfilings.\n\nLVG's forward-looking statements are based on the opinions and estimates of\nmanagement and reflect their current expectations regarding future events and\noperating performance and speak only as of the date hereof. LVG does not\nassume any obligation to update forward-looking statements except as required\nby applicable law. There can be no assurance that forward-looking statements\nwill prove to be accurate, and actual results, performance or achievements\ncould differ materially from those expressed in, or implied by, these\nforward-looking statements. Accordingly, no assurance can be given that any\nevents anticipated by the forward-looking statements will transpire or occur,\nor if any of them do, what benefits or liabilities LVG will derive therefrom.\nUndue reliance should not be placed on forward-looking statements.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/lake-victoria-gold-intersects-28-71-gt-au-over-2-75-m-and-12-20-gt-au-over-4-50-m-in-shallow-area-c-drilling-at-imwelo-302861623.html\n(https://www.prnewswire.com/news-releases/lake-victoria-gold-intersects-28-71-gt-au-over-2-75-m-and-12-20-gt-au-over-4-50-m-in-shallow-area-c-drilling-at-imwelo-302861623.html)\n\nSOURCE Lake Victoria Gold Ltd.\n\n\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS1967605/Lake-Victoria-Gold-Logo.jpg?id=OA2915728\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn183z75a","title":"LAKE VICTORIA GOLD INTERSECTS 28.71 G/T AU OVER 2.75 M AND 12.20 G/T AU OVER 4.50 M IN SHALLOW AREA C DRILLING AT IMWELO","author":"PR Newswire","ticker":"LVG","created":"2026-08-27T11:00:04.066Z","tickers":["LVG"],"exchange":"","article_body":"LAKE VICTORIA GOLD INTERSECTS 28.71 G/T AU OVER 2.75 M AND 12.20 G/T AU OVER 4.50 M IN SHALLOW AREA C DRILLING AT IMWELO\n\nPR Newswire\n\nVANCOUVER, BC, Aug. 27, 2026\n\nTargeted whole-core metallurgical program on weathered ore advances\nclay-handling and final process-design decisions for the planned initial\nmining area\n\nVANCOUVER, BC, Aug. 27, 2026 /PRNewswire/ -- Lake Victoria Gold Ltd. (TSXV:\nLVG) (OTCQB: LVGLF) (FSE: E1K) (\"LVG\" or the \"Company\") is pleased to report\nhigh-grade, near-surface assay results from recent HQ diamond drilling at its\nfully permitted Imwelo Gold Project (\"Imwelo\" or the \"Project\") in Tanzania,\nincluding 28.71 g/t gold (\"Au\") over 2.75 metres from 21.00 metres in hole\nIMWDR029 and 12.20 g/t Au over 4.50 metres from 32.00 metres in hole\nIMWDR028.  Individual quartz-vein samples within these intervals returned up\nto 142.90 g/t Au and 124.83 g/t Au, respectively.\n\nThe intercepts occur within the shallow, highly weathered mineralized sequence\nat Area C, the Company's planned initial open-pit mining area, and provide\nadditional data for detailed mine planning and grade-control work. In\nparallel, whole-core samples from the eight HQ drillholes have been submitted\nto independent metallurgical laboratory Nesch Mintech Tanzania Limited for a\ncomprehensive testwork program that will determine the metallurgical character\nof the weathered mineralization. In particular, the testwork will establish\nwhether clay removal through scrubbing and screening of the weathered ore will\nbe necessary, and will characterize the effect of the clay on the processing\nparameters and flowsheet.\n\nKey Highlights\n\n * 28.71 g/t Au over 2.75 m from 21.00 m in IMWDR029, including 59.77 g/t Au over\n1.30 m from 21.00 m, with an individual 0.50 m quartz-vein sample returning\n142.90 g/t Au.\n * 12.20 g/t Au over 4.50 m from 32.00 m in IMWDR028, including 27.94 g/t Au over\n1.90 m from 33.00 m, with an individual 0.40 m quartz-vein sample returning\n124.83 g/t Au.\n * Shallow mineralization within the Area C mining horizon: the two strongest\nreported intervals commence at only 21 metres and 32 metres downhole,\nrespectively, within weathered saprolitic and quartz-vein material.\n * Weathered-ore metallurgical program underway: whole-core testwork will define\nthe preferred treatment route for the clay-rich near-surface material,\nspanning baseline recovery, desliming and attrition scrubbing.\n * Direct integration into development planning: results will inform the final\nArea C process flowsheet, treatment-rate assumptions and plant configuration\nwhile supporting further grade-control planning, detailed pit design and mine\nscheduling.\nManagement Commentary\n\nMarc Cernovitch, President & CEO of Lake Victoria Gold,\ncommented: \"These results reinforce the high grade, near surface character of\nArea C, and the metallurgical program now underway addresses a key input to\nour flowsheet design. Confirming how the clay rich surface mineralized\nmaterial behaves, alongside the strong recoveries already established for our\nsulphide and transitional mineralized material, supports sound plant design\ndecisions and keeps our focus on disciplined capital and execution on the path\nto first gold.\"\n\nShallow High-Grade Results at Area C\n\nThe eight holes total 225 m and span approximately 240 m of strike at Area C.\nFour of these holes, IMWDR025, IMWDR026, IMWDR027 and IMWDR030, intersected\nvoids created by historical artisanal mining, where the shallow mineralized\nzone had been removed. Results for all eight holes are summarized below:\n\n \n Hole ID   From (m)       Interval (m)   Grade (g/t Au)  Including\n IMWDR024  13.00          1.00           0.70            —\n IMWDR024  15.20          0.35           0.38            —\n IMWDR025  Hole intersected void (historical artisanal mining)\n IMWDR026  Hole intersected void (historical artisanal mining)\n IMWDR027  Hole intersected void (historical artisanal mining)\n IMWDR028  32.00          4.50           12.20           27.94 g/t Au over 1.90 m from 33.00 m, including 124.83 g/t Au over 0.40 m\n                                                         from 34.50 m\n IMWDR029  21.00          2.75           28.71           59.77 g/t Au over 1.30 m from 21.00 m, including 142.90 g/t Au over 0.50 m\n                                                         from 21.80 m\n IMWDR030  Hole intersected void (historical artisanal mining)\n IMWDR031  21.90          2.50           0.96            3.73 g/t Au over 0.40 m from 24.00 m\n\n \n QA/QC Notes:\n Collar coordinates                Arc 1960 UTM 36S\n Collar azimuth                    Degrees – 0° is north\n Collar dip                        Degrees – negative is down\n Sample type                       DD – diamond drill\n True Width                        True Width have not yet been determined\n QAQC                              Internal – every 20th sample is a Blank Sample, CRM & Duplicate sample.\n                                   Nesch Mintech Lab results all  passed QAQC.\n Sample core size                  Whole HQ core\n Analytical procedure              Nesch Mintech Tanzania Limited – Mwanza, Procedure LM-02/1, Standards\n                                   ISO/IEC 17025 and ISO 9001\n\n \n\nCompleting the Metallurgical Picture at Area C\n\nThe current testwork is designed to complement the results announced by LVG\non March 18, 2026 under the headline \"Lake Victoria Gold Confirms up to\nApproximately 97% Gold Recovery and Free-Milling Metallurgy at the Imwelo Gold\nProject.\"\n\nThat program demonstrated strong metallurgical performance from transitional\nand fresh sulphide material, including recoveries of up to approximately\n96–97% using conventional gravity concentration and cyanide leaching and a\nsignificant gravity-recoverable gold component.\n\nThe new program targets the shallow end of the mining sequence. Previous\ngeotechnical work identified a weathered near-surface zone at Area C extending\nlocally to approximately 40–60 metres depth. This material is expected to be\namenable to free-dig mining but is characterized by significant weathering and\nclay content, creating different material-handling and processing\nconsiderations from the stronger transitional and fresh rock below.\n\nBy testing this material independently, LVG is seeking to establish the\npreferred front-end treatment configuration before finalizing the process\nflowsheet.\n\nTargeted Weathered-Ore Testwork\n\nWhole-core samples have been submitted to Nesch Mintech Tanzania Limited for\na program specifically designed to quantify the effect of clay on material\nhandling, gold liberation and recovery.\n\nThree principal treatment conditions will be evaluated: untreated whole ore to\nestablish a baseline; washing and desliming to determine whether removal of\nfine clay improves processing performance; and attrition scrubbing followed by\ndesliming to determine whether breaking down clay aggregates improves gold\nliberation and recovery. Gravity recovery and cyanide leaching will be\nevaluated across the relevant treatment conditions.\n\nSupporting work will include grind sensitivity at target product sizes of P80\n125 µm, 106 µm and 75 µm; size-by-assay analysis; gravity separation;\nbottle-roll cyanidation; slurry rheology and settling tests; density\nmeasurements; head-grade determination; and multi-element characterization.\n\nThe objective is practical: to determine whether additional front-end\nclay-handling equipment materially improves processing performance and, if so,\nto define the appropriate configuration before the final plant design is\ncompleted. The results will inform recovery assumptions, treatment rate,\nequipment selection, operating parameters and capital scope for the Area C\nflowsheet.\n\nAdvancing Area C Toward Development\n\nThe drilling and metallurgical work form part of a broader integrated\ndevelopment program at Imwelo.\n\nArea C is the Company's planned initial mining area, and LVG is advancing\ndetailed pit design, grade-control planning, process optimization and site\ndevelopment in parallel. Phase 1 earthworks have commenced, including\naccess-road improvements and preparation of the plant-site footprint, while\ndevelopment of the site camp and supporting infrastructure continues.\n\nNext Steps\n\nOn completion of the weathered-ore testwork, LVG will select the preferred\nfront-end treatment route for Area C and integrate the results into the final\nflowsheet and plant design. In parallel, the Company will shortly continue\ngrade-control drilling, finalize the Area C pit design and production\nschedule, and advance site development at Imwelo.\n\nDrillhole Collar Details\n\n \n BHID      EAST        NORTH        RL        DIP  AZIMUTH  DEPTH\n IMWDR024  377996.480  9679047.360  1183.900  -50  190      25.5\n IMWDR025  377999.180  9679066.260  1182.810  -50  190      19.5\n IMWDR026  378091.545  9679053.622  1182.224  -50  190      25.5\n IMWDR027  378098.145  9679062.647  1181.567  -50  190      19.5\n IMWDR028  378163.903  9679061.648  1179.944  -50  188      40\n IMWDR029  378177.000  9679049.000  1179.000  -50  188      40\n IMWDR030  378187.000  9679047.000  1179.000  -50  188      15\n IMWDR031  378188.000  9679048.000  1179.000  -50  188      40\n\n \n\nCautionary Note on Production Decision\n\nAlthough Imwelo has been the subject of JORC-compliant PEA, PFS and updated\nPFS work, these foreign-code studies are not current under NI 43-101. The\nCompany has not completed a feasibility study on Imwelo that establishes\nmineral reserves demonstrating economic and technical viability and is not\ntreating the JORC-based estimates or analyses as current under CIM Definition\nStandards. Any decision to commence production is not based on a feasibility\nstudy of mineral reserves and therefore involves increased uncertainty and a\nhigher risk of economic and technical failure. There is no certainty that the\nplanned low-capex open-pit operation will be economically viable or that\nproduction will occur as anticipated. Risks include, without limitation,\nvariations in grade and recovery, unexpected geotechnical or metallurgical\nchallenges, cost overruns, funding availability, and operational, regulatory,\nor permitting risks.\n\nQualified Person\n\nThe scientific and technical information contained in this news release has\nbeen reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person\nas defined by National Instrument 43-101 – Standards of Disclosure for\nMineral Projects. Mr. Scott is a Director and Officer of the Company.\n\nAbout Lake Victoria Gold:\nLake Victoria Gold is a rapidly growing gold exploration and development\ncompany listed on the TSX Venture Exchange under the symbol LVG. Leveraging\nour unique position and experience, the Company is principally focused on\ngrowth and consolidation in the highly prolific and prospective Lake Victoria\nGoldfield in Tanzania.\n\nThe Company has a 100% interest in the Tembo project which has over fifty\nthousand meters of drilling and is located adjacent to Barrick's Bulyanhulu\nMine. The Company also holds a 100% interest in the Imwelo Project which is a\nfully permitted gold project west of AngloGold Ashanti's Geita Gold Mine. With\nhistorical resource estimates and a JORC Compliant 2021 pre-feasibility study,\nthe project is fully permitted for mine construction and production,\npositioning it as a near-term development opportunity.\n\nLVG has assembled a highly experienced team with a track record of developing,\nfinancing, and operating mining projects in Africa with management, directors\nand partners owning more than 60% of the shares. Notably, the Company is\ngrateful for the validation that comes with the support and equity investment\nfrom Barrick (https://api.newsfilecorp.com/redirect/OAnqvF2EjN)  and\nstrategic partnership with Taifa Group\n(https://api.newsfilecorp.com/redirect/PqKnJsg3YY) .\n\nTaifa Group (a diverse group of companies with interests in amongst others,\nMining, Telecoms, Oil & Gas, Agri Business, Pharmaceuticals and Leather)\nhas entered into an agreement with the Company to obtain an equity stake in\nthe Company and through its wholly owned subsidiary Taifa Mining (a wholly\nTanzanian owned company), or other nominees. Taifa Mining will also conduct\nall the contract mining and civil works for the Imwelo project. Taifa Mining\nis Tanzania's largest mining contractor with over 30 years mining related\nexperience. Taifa have been the contractor of choice to most mines in Tanzania\nand have maintained long and successful relationships with companies such as\nPetra, De Beers, Barrick, and AngloGold Ashanti. In addition, Taifa also owns\nthe largest fleet of mining equipment in Tanzania. As a company, Taifa is\ncommitted to adopting and adhering to the latest internationally recognized\nstandards throughout all aspects of its business.\n\nOn Behalf of the Board of Directors of the Company,\n\nSimon Benstead\nExecutive Chairman & CFO\nPhone: +1 604-685-9316\nEmail: sbenstead@lakevictoriagold.com (mailto:sbenstead@lakevictoriagold.com)\n \n\nFor more information, please contact:\n\nSimon Benstead\nExecutive Chairman & CFO\nPhone:+ 1 604-685-9316\nEmail: sbenstead@lakevictoriagold.com (mailto:sbenstead@lakevictoriagold.com)\n \n\nMarc Cernovitch\nCEO & Director\nPhone: +1 604-685-9316\nEmail: mcernovitch@lakevictoriagold.com\n(mailto:mcernovitch@lakevictoriagold.com)\n\nNEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT\nTERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS\nRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.\n\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS\n\nThis news release includes certain \"forward-looking information\" within the\nmeaning of applicable Canadian securities legislation, including, without\nlimitation: the maiden Mineral Resource Estimate for the Tembo Gold Project\nand the assumptions underlying it; the potential upgrading of Inferred Mineral\nResources to higher confidence categories and the conversion and growth of\nMineral Resources through further exploration and drilling; the planned\nclose-spaced drilling program of approximately 5,000 metres at Ngula 1 on an\napproximately 20 m by 20 m pattern, and the anticipated timing, scope, results\nand benefits thereof, including improved geological confidence, resource\nconversion and support for future mine planning; the advancement of resource\nconversion and mine planning at Ngula 1 and the potential development of a\ncapital-light production pathway; the previously announced toll-milling\narrangement with Nyati Resources (T) Limited in respect of a 500-tonne-per-day\nprocessing plant, and the confirmatory drilling, permitting, financing and\nnegotiation and execution of a definitive agreement in connection therewith;\nthe potential for near term production at Tembo; the potential receipt of up\nto US$45 million in contingent, ounce-based payments under the Company's\nDecember 2021 asset purchase agreement with Bulyanhulu Gold Mine Limited; the\ninterpretation of geological and structural continuity between the Tembo\nlicences and the adjacent Bulyanhulu Mine, and the exploration potential of\nthe 39 identified targets, including step-out and extension drilling and the\npotential for mineralization to extend below currently drilled depths; the\nplanned reinterpretation of historical aeromagnetic data and assessment of\nfollow-up airborne electromagnetic surveying; the filing of the supporting NI\n43-101 Technical Report under the Company's SEDAR+ profile within 45 days of\nthis news release; and the receipt of required regulatory and governmental\napprovals. All statements in this news release that address events or\ndevelopments that the Company expects to occur in the future are\nforward-looking statements.\n\nForward-looking statements are statements that are not historical facts and\nare generally, although not always, identified by words such as \"expect\",\n\"plan\", \"anticipate\", \"project\", \"target\", \"potential\", \"schedule\",\n\"forecast\", \"budget\", \"estimate\", \"intend\" or \"believe\" and similar\nexpressions or their negative connotations, or that events or conditions\n\"will\", \"would\", \"may\", \"could\", \"should\" or \"might\" occur. All such\nforward-looking statements are based on the opinions and estimates of\nmanagement as of the date such statements are made.\n\nForward-looking statements necessarily involve assumptions, risks and\nuncertainties, certain of which are beyond LVG's control, including risks\nassociated with or related to: the fact that Mineral Resources are not Mineral\nReserves and do not have demonstrated economic viability; that Inferred\nMineral Resources are estimated with a lower level of confidence and that it\ncannot be assumed that all or any part of an Inferred Mineral Resource will be\nupgraded to an Indicated Mineral Resource or converted to Mineral Reserves;\nthe risk that further drilling, including the planned close-spaced program at\nNgula 1, does not confirm the continuity, geometry or grade of mineralization\nor does not result in resource conversion or growth; delays in, or the failure\nto complete, drilling, permitting, financing, or the negotiation and execution\nof a definitive toll-milling agreement with Nyati Resources (T) Limited; the\nrisk that the proposed toll-milling arrangement is not completed on the terms\ndescribed, or at all, and that production does not result; the risk that any\ndecision to commence production would not be based on a feasibility study of\nMineral Reserves demonstrating economic and technical viability and would\ntherefore involve increased uncertainty and multiple technical and economic\nrisks of failure; the risk that the contingent, ounce-based payments under the\nCompany's asset purchase agreement with Bulyanhulu Gold Mine Limited are not\nreceived, in whole or in part, as those payments depend on exploration and\ndevelopment success achieved by Bulyanhulu Gold Mine Limited on the acquired\nlicences, which is outside the Company's control; the risk that mineralization\non adjacent or nearby properties, including the Bulyanhulu Mine, is not\nnecessarily indicative of mineralization on the Tembo Project, and that\ngeological and structural interpretations are interpretive; the risk that\nhistorical drilling and surface sampling results are not necessarily\nindicative of the grade or continuity of mineralization within the Mineral\nResource; the availability of financing on acceptable terms or at all; the\nreceipt of all required regulatory approvals; the volatility of metal prices\nand LVG's common shares; actual development plans and costs differing\nmaterially from the Company's estimates; delays in the filing of the\nsupporting technical report; and other risks disclosed in the Company's public\nfilings.\n\nLVG's forward-looking statements are based on the opinions and estimates of\nmanagement and reflect their current expectations regarding future events and\noperating performance and speak only as of the date hereof. LVG does not\nassume any obligation to update forward-looking statements except as required\nby applicable law. There can be no assurance that forward-looking statements\nwill prove to be accurate, and actual results, performance or achievements\ncould differ materially from those expressed in, or implied by, these\nforward-looking statements. Accordingly, no assurance can be given that any\nevents anticipated by the forward-looking statements will transpire or occur,\nor if any of them do, what benefits or liabilities LVG will derive therefrom.\nUndue reliance should not be placed on forward-looking statements.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/lake-victoria-gold-intersects-28-71-gt-au-over-2-75-m-and-12-20-gt-au-over-4-50-m-in-shallow-area-c-drilling-at-imwelo-302861623.html\n(https://www.prnewswire.com/news-releases/lake-victoria-gold-intersects-28-71-gt-au-over-2-75-m-and-12-20-gt-au-over-4-50-m-in-shallow-area-c-drilling-at-imwelo-302861623.html)\n\nSOURCE Lake Victoria Gold Ltd.\n\n\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS1967605/Lake-Victoria-Gold-Logo.jpg?id=OA2915728\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-08-27T11:00:05.069713651Z","server_sent_at_ms":1787828405069},"received_at":"2026-08-27T11:00:05.219Z","source_url":"https://www.prnewswire.com/news-releases/lake-victoria-gold-intersects-28-71-gt-au-over-2-75-m-and-12-20-gt-au-over-4-50-m-in-shallow-area-c-drilling-at-imwelo-302861623.html"},"analysis":{"id":"118020","press_release_id":"129106","analysis_json":{"industry":{"label":"Gold","sector":"Materials"},"redFlags":["Production decision not based on a feasibility study of mineral reserves","JORC-based estimates not current under NI 43-101","Four drill holes intersected voids from historical artisanal mining"],"eventType":"operations_update","narrative":"Lake Victoria Gold reported high-grade, near-surface drilling results at its Imwelo project, including intercepts of 28.71 g/t Au over 2.75 metres and 12.20 g/t Au over 4.50 metres starting at depths of just 21 and 32 metres respectively.\n\nThe results from the Area C zone, designated as the planned initial open-pit mining area, will support detailed mine planning and grade-control work as the company advances toward production.\n\nPhase 1 earthworks have commenced, and a metallurgical testwork program is underway to determine the optimal processing flowsheet for the clay-rich weathered ore.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"High-grade shallow hits confirm quality of initial mining zone at Imwelo."},"keyFigures":{"customDimensions":{"IMWDR028_depth":"32.00 m","IMWDR029_depth":"21.00 m","IMWDR028_interval":"12.20 g/t Au over 4.50 m","IMWDR029_interval":"28.71 g/t Au over 2.75 m","total_drill_meters":225,"strike_length_meters":240,"max_vein_sample_grade":"142.90 g/t Au"}},"quotedText":"These results reinforce the high grade, near surface character of Area C, and the metallurgical program now underway addresses a key input to our flowsheet design.","namedEntities":{"people":[{"name":"Marc Cernovitch","role":"CEO"},{"name":"Simon Benstead","role":"Executive Chairman & CFO"},{"name":"David Scott","role":"Qualified Person"}],"products":["Imwelo Gold Project","Area C"],"companies":[{"name":"Lake Victoria Gold Ltd.","ticker":"LVG"},{"name":"Nesch Mintech Tanzania Limited","relationship":"metallurgical laboratory"},{"name":"Barrick","relationship":"investor"},{"name":"AngloGold Ashanti","relationship":"neighbor"},{"name":"Taifa Group","relationship":"partner"},{"name":"Taifa Mining","relationship":"contractor"}],"dollarAmounts":[]},"materialImpact":{"score":3,"reasoning":"High-grade, shallow intercepts at the planned initial mining area provide positive de-risking for the project's early years, though they do not yet constitute a formal resource update or production decision."},"tickerRelevance":{"others":[],"primary":"LVG"},"globalImportance":25,"audienceRelevance":20,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"exploration-results","sectorWeight":"materials"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":3,"narrative":"Lake Victoria Gold reported high-grade, near-surface drilling results at its Imwelo project, including intercepts of 28.71 g/t Au over 2.75 metres and 12.20 g/t Au over 4.50 metres starting at depths of just 21 and 32 metres respectively.\n\nThe results from the Area C zone, designated as the planned initial open-pit mining area, will support detailed mine planning and grade-control work as the company advances toward production.\n\nPhase 1 earthworks have commenced, and a metallurgical testwork program is underway to determine the optimal processing flowsheet for the clay-rich weathered ore.","key_figures":{"customDimensions":{"IMWDR028_depth":"32.00 m","IMWDR029_depth":"21.00 m","IMWDR028_interval":"12.20 g/t Au over 4.50 m","IMWDR029_interval":"28.71 g/t Au over 2.75 m","total_drill_meters":225,"strike_length_meters":240,"max_vein_sample_grade":"142.90 g/t Au"}},"named_entities":{"people":[{"name":"Marc Cernovitch","role":"CEO"},{"name":"Simon Benstead","role":"Executive Chairman & CFO"},{"name":"David Scott","role":"Qualified Person"}],"products":["Imwelo Gold Project","Area C"],"companies":[{"name":"Lake Victoria Gold Ltd.","ticker":"LVG"},{"name":"Nesch Mintech Tanzania Limited","relationship":"metallurgical laboratory"},{"name":"Barrick","relationship":"investor"},{"name":"AngloGold Ashanti","relationship":"neighbor"},{"name":"Taifa Group","relationship":"partner"},{"name":"Taifa Mining","relationship":"contractor"}],"dollarAmounts":[]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-27T11:11:30.722Z","global_importance":25,"audience_relevance":20,"importance_components":{"tickerTier":"micro-cap","eventGravity":"exploration-results","sectorWeight":"materials"}},"durationMs":110125,"modelName":"glm-4.7"}}