{"success":true,"data":{"pressRelease":{"id":"132136","rtpr_id":"nGNXc9nyPk","ticker":"LVG","exchange":"","all_tickers":["LVG"],"title":"Fully Permitted Tanzanian Gold Project Clears Path to Construction as Financing, EPCM Fall in Place (LVGLF)","author":"Globe Newswire","published_at":"2026-09-01T10:00:28.095Z","article_body":"DALLAS, Sept. 01, 2026 (GLOBE NEWSWIRE) --\n\nDisseminated on behalf of Lake Victoria Gold\n\nAs gold prices held near record levels through the first half of 2026,\ninvestor attention has increasingly turned to a key question in the mining\nsector: which developers are closest to transitioning from permitted deposits\nto producing mines. Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K)\nhas cleared a sequence of milestones on its Imwelo project in Tanzania that\nposition the company at that threshold. \n\nRead more\nhttps://wallstreetpr.com/from-developer-to-producer-minings-biggest-valuation-shift/\n\nThe Imwelo project holds Mining Licence ML 538/2015 and is fully permitted. A\n23-hole, 1,136-metre sterilization drilling program completed in June\nconfirmed that the plant and accommodation footprints are clear of\nmineralization. On June 29, 2026, the Tanzania Mining Commission approved a\nTanzanian-led EPCM (Engineering, Procurement, and Construction Management)\nstructure for the project, with City Engineering Company Ltd. serving as\nprimary contractor and Sutton Consulting International providing international\ntechnical support; Senior Project Manager Charl Coetzee mobilized to site on\nJuly 8, 2026. On the financing side, the company entered into a binding term\nsheet on April 1, 2026 for a gold loan of up to 6,000 ounces, approximately\nUS$25 million from Monetary Metals, to be repaid in gold ounces rather than\ncash, and closed the final tranche of a convertible debenture financing on\nJuly 2, 2026, bringing that raise to $4,165,200. Construction start is\ntargeted for the current quarter.\n\nMarkets have historically applied deep discounts to development-stage mining\ncompanies to reflect the execution risks associated with permitting,\nfinancing, construction, and commissioning. As those risks are retired,\ncompanies have often seen valuations shift from a developer's discount toward\na producer's multiple. G Mining Ventures offers a recent example, having built\nthe Tocantinzinho mine in Brazil on time and on budget, poured first gold in\n2024, and produced 171,871 ounces generating approximately $580 million in\nrevenue in its first full year of commercial production in 2025. Lundin Gold\nacquired the Fruta del Norte deposit in Ecuador for $240 million in 2014,\nreached commercial production in 2020, produced 498,315 ounces in 2025, and\nnow carries a market value in the C$20 billion range. Montage Gold is\nundergoing the same transition, with its fully funded, $825 million Koné\nproject in Côte d'Ivoire advancing ahead of schedule and first gold now\ntargeted for the fourth quarter of 2026. TRX Gold is demonstrating the same\ntrajectory within Tanzania itself: its Buckreef mine, located in the same\nGeita greenstone belt as Imwelo, produced 7,426 ounces last quarter at a\nrecord average realized price of $4,703 per ounce. Barrick holds an equity\nposition in Lake Victoria Gold, Tanzania's Taifa Group is contracted for civil\nworks and contract mining, and management, directors, and strategic partners\ncollectively hold more than 60% of shares outstanding.\n\nImwelo has been the subject of JORC-code Preliminary Economic Assessment and\npre-feasibility work; however, these studies are not current under NI 43-101,\nand the company has not completed a feasibility study establishing mineral\nreserves under CIM Definition Standards. Any decision to commence production\nis not based on a feasibility study of mineral reserves and carries an\nincreased risk of economic or technical failure.\n\nRead more\nhttps://wallstreetpr.com/from-developer-to-producer-minings-biggest-valuation-shift/\n\nAbout Lake Victoria Gold\n\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. The Company has a 100% interest in the Tembo project\nwhich has over fifty thousand meters of drilling and is located adjacent to\nBarrick's Bulyanhulu Mine. The Company also holds a 100% interest in the\nImwelo Project which is a fully permitted gold project west of AngloGold\nAshanti's Geita Gold Mine. With historical resource estimates and a JORC\nCompliant 2021 pre-feasibility study, the project is fully permitted for mine\nconstruction and production, positioning it as a near-term development\nopportunity. LVG has assembled a highly experienced team with a track record\nof developing, financing, and operating mining projects in Africa with\nmanagement, directors and partners owning more than 60% of the shares.\nNotably, the Company is grateful for the validation that comes with the\nsupport and equity investment from Barrick and strategic partnership with\nTaifa Group. Taifa Group (a diverse group of companies with interests in\namongst others, Mining, Telecoms, Oil & Gas, Agri Business, Pharmaceuticals\nand Leather) has entered into an agreement with the Company to obtain an\nequity stake in the Company and through its wholly owned subsidiary Taifa\nMining (a wholly Tanzanian owned company), or other nominees. Taifa Mining\nwill also conduct all the contract mining and civil works for the Imwelo\nproject. Taifa Mining is Tanzania's largest mining contractor with over 30\nyears mining related experience. Taifa have been the contractor of choice to\nmost mines in Tanzania and have maintained long and successful relationships\nwith companies such as Petra, De Beers, Barrick, and AngloGold Ashanti. In\naddition, Taifa also owns the largest fleet of mining equipment in Tanzania.\nAs a company, Taifa is committed to adopting and adhering to the latest\ninternationally recognized standards throughout all aspects of its business.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements and forward-looking\ninformation within the meaning of applicable securities laws, including\nstatements regarding the timing of construction, financing, and project\ndevelopment. Such statements are based on current expectations and assumptions\nand are subject to risks and uncertainties that could cause actual results to\ndiffer materially. Readers are cautioned not to place undue reliance on\nforward-looking statements.\n\nNOTE TO INVESTORS: WallStreetPR (https://www.facebook.com/WallStreetPR/) is a\nfinancial news and publishing company that maximizes investor awareness for\npublic and private businesses. Its core mission is to empower individuals by\ncreating a highly connected, well-informed investor community. For more\ninformation, please visit https://wallstreetpr.com. Please see full terms of\nuse and disclaimers on the WallstreetPR website applicable to all content\nprovided by WallstreetPR, wherever published or re-published:\nhttps://wallstreetpr.com/disclaimer/. Please note that Akchirpy Media LLP has\nbeen compensated two thousand dollars for distributing this content on behalf\nof EDM Media LLC.\n\nSources:\nhttps://www.newsfilecorp.com/release/303579/Lake-Victoria-Gold-Formalizes-TanzanianLed-EPCM-Team-Advancing-the-Fully-Permitted-Imwelo-Gold-Project-Toward-Construction \nhttps://www.newsfilecorp.com/release/304339/Lake-Victoria-Gold-Mobilizes-Senior-Project-Manager-to-Imwelo-as-Construction-Readiness-Advances \n\nCorporate Communications\nWallstreetPR\nDallas, Texas\nwww.WallStreetPR.com\n214-506-0507 Office\nInfo@WallStreetPR.com\n\nContact\n\nCEO\nStephen Sandifer\nWallStreetPR\neditor@wallstreetpr.com\n+1 (800) 301-7883\n\nA photo accompanying this announcement is available at\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/a6e6de7d-b053-42d5-82ea-9bbada03ad76\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/704823f2-0285-43e2-b0e5-90b03b261d82)\nLake Victoria Gold \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/a6e6de7d-b053-42d5-82ea-9bbada03ad76/en)\nLake Victoria Gold\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNXc9nyPk","title":"Fully Permitted Tanzanian Gold Project Clears Path to Construction as Financing, EPCM Fall in Place (LVGLF)","author":"Globe Newswire","ticker":"LVG","created":"2026-09-01T10:00:28.095Z","tickers":["LVG"],"exchange":"","article_body":"DALLAS, Sept. 01, 2026 (GLOBE NEWSWIRE) --\n\nDisseminated on behalf of Lake Victoria Gold\n\nAs gold prices held near record levels through the first half of 2026,\ninvestor attention has increasingly turned to a key question in the mining\nsector: which developers are closest to transitioning from permitted deposits\nto producing mines. Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K)\nhas cleared a sequence of milestones on its Imwelo project in Tanzania that\nposition the company at that threshold. \n\nRead more\nhttps://wallstreetpr.com/from-developer-to-producer-minings-biggest-valuation-shift/\n\nThe Imwelo project holds Mining Licence ML 538/2015 and is fully permitted. A\n23-hole, 1,136-metre sterilization drilling program completed in June\nconfirmed that the plant and accommodation footprints are clear of\nmineralization. On June 29, 2026, the Tanzania Mining Commission approved a\nTanzanian-led EPCM (Engineering, Procurement, and Construction Management)\nstructure for the project, with City Engineering Company Ltd. serving as\nprimary contractor and Sutton Consulting International providing international\ntechnical support; Senior Project Manager Charl Coetzee mobilized to site on\nJuly 8, 2026. On the financing side, the company entered into a binding term\nsheet on April 1, 2026 for a gold loan of up to 6,000 ounces, approximately\nUS$25 million from Monetary Metals, to be repaid in gold ounces rather than\ncash, and closed the final tranche of a convertible debenture financing on\nJuly 2, 2026, bringing that raise to $4,165,200. Construction start is\ntargeted for the current quarter.\n\nMarkets have historically applied deep discounts to development-stage mining\ncompanies to reflect the execution risks associated with permitting,\nfinancing, construction, and commissioning. As those risks are retired,\ncompanies have often seen valuations shift from a developer's discount toward\na producer's multiple. G Mining Ventures offers a recent example, having built\nthe Tocantinzinho mine in Brazil on time and on budget, poured first gold in\n2024, and produced 171,871 ounces generating approximately $580 million in\nrevenue in its first full year of commercial production in 2025. Lundin Gold\nacquired the Fruta del Norte deposit in Ecuador for $240 million in 2014,\nreached commercial production in 2020, produced 498,315 ounces in 2025, and\nnow carries a market value in the C$20 billion range. Montage Gold is\nundergoing the same transition, with its fully funded, $825 million Koné\nproject in Côte d'Ivoire advancing ahead of schedule and first gold now\ntargeted for the fourth quarter of 2026. TRX Gold is demonstrating the same\ntrajectory within Tanzania itself: its Buckreef mine, located in the same\nGeita greenstone belt as Imwelo, produced 7,426 ounces last quarter at a\nrecord average realized price of $4,703 per ounce. Barrick holds an equity\nposition in Lake Victoria Gold, Tanzania's Taifa Group is contracted for civil\nworks and contract mining, and management, directors, and strategic partners\ncollectively hold more than 60% of shares outstanding.\n\nImwelo has been the subject of JORC-code Preliminary Economic Assessment and\npre-feasibility work; however, these studies are not current under NI 43-101,\nand the company has not completed a feasibility study establishing mineral\nreserves under CIM Definition Standards. Any decision to commence production\nis not based on a feasibility study of mineral reserves and carries an\nincreased risk of economic or technical failure.\n\nRead more\nhttps://wallstreetpr.com/from-developer-to-producer-minings-biggest-valuation-shift/\n\nAbout Lake Victoria Gold\n\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. The Company has a 100% interest in the Tembo project\nwhich has over fifty thousand meters of drilling and is located adjacent to\nBarrick's Bulyanhulu Mine. The Company also holds a 100% interest in the\nImwelo Project which is a fully permitted gold project west of AngloGold\nAshanti's Geita Gold Mine. With historical resource estimates and a JORC\nCompliant 2021 pre-feasibility study, the project is fully permitted for mine\nconstruction and production, positioning it as a near-term development\nopportunity. LVG has assembled a highly experienced team with a track record\nof developing, financing, and operating mining projects in Africa with\nmanagement, directors and partners owning more than 60% of the shares.\nNotably, the Company is grateful for the validation that comes with the\nsupport and equity investment from Barrick and strategic partnership with\nTaifa Group. Taifa Group (a diverse group of companies with interests in\namongst others, Mining, Telecoms, Oil & Gas, Agri Business, Pharmaceuticals\nand Leather) has entered into an agreement with the Company to obtain an\nequity stake in the Company and through its wholly owned subsidiary Taifa\nMining (a wholly Tanzanian owned company), or other nominees. Taifa Mining\nwill also conduct all the contract mining and civil works for the Imwelo\nproject. Taifa Mining is Tanzania's largest mining contractor with over 30\nyears mining related experience. Taifa have been the contractor of choice to\nmost mines in Tanzania and have maintained long and successful relationships\nwith companies such as Petra, De Beers, Barrick, and AngloGold Ashanti. In\naddition, Taifa also owns the largest fleet of mining equipment in Tanzania.\nAs a company, Taifa is committed to adopting and adhering to the latest\ninternationally recognized standards throughout all aspects of its business.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements and forward-looking\ninformation within the meaning of applicable securities laws, including\nstatements regarding the timing of construction, financing, and project\ndevelopment. Such statements are based on current expectations and assumptions\nand are subject to risks and uncertainties that could cause actual results to\ndiffer materially. Readers are cautioned not to place undue reliance on\nforward-looking statements.\n\nNOTE TO INVESTORS: WallStreetPR (https://www.facebook.com/WallStreetPR/) is a\nfinancial news and publishing company that maximizes investor awareness for\npublic and private businesses. Its core mission is to empower individuals by\ncreating a highly connected, well-informed investor community. For more\ninformation, please visit https://wallstreetpr.com. Please see full terms of\nuse and disclaimers on the WallstreetPR website applicable to all content\nprovided by WallstreetPR, wherever published or re-published:\nhttps://wallstreetpr.com/disclaimer/. Please note that Akchirpy Media LLP has\nbeen compensated two thousand dollars for distributing this content on behalf\nof EDM Media LLC.\n\nSources:\nhttps://www.newsfilecorp.com/release/303579/Lake-Victoria-Gold-Formalizes-TanzanianLed-EPCM-Team-Advancing-the-Fully-Permitted-Imwelo-Gold-Project-Toward-Construction \nhttps://www.newsfilecorp.com/release/304339/Lake-Victoria-Gold-Mobilizes-Senior-Project-Manager-to-Imwelo-as-Construction-Readiness-Advances \n\nCorporate Communications\nWallstreetPR\nDallas, Texas\nwww.WallStreetPR.com\n214-506-0507 Office\nInfo@WallStreetPR.com\n\nContact\n\nCEO\nStephen Sandifer\nWallStreetPR\neditor@wallstreetpr.com\n+1 (800) 301-7883\n\nA photo accompanying this announcement is available at\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/a6e6de7d-b053-42d5-82ea-9bbada03ad76\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/704823f2-0285-43e2-b0e5-90b03b261d82)\nLake Victoria Gold \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/a6e6de7d-b053-42d5-82ea-9bbada03ad76/en)\nLake Victoria Gold\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-09-01T10:00:28.132461675Z","server_sent_at_ms":1788256828132},"received_at":"2026-09-01T10:00:28.218Z","source_url":"https://www.globenewswire.com/news-release/2026/09/01/3353900/0/en/fully-permitted-tanzanian-gold-project-clears-path-to-construction-as-financing-epcm-fall-in-place-lvglf.html"},"analysis":{"id":"121038","press_release_id":"132136","analysis_json":{"industry":{"label":"Gold","sector":"Materials"},"redFlags":["Paid distribution disclosure: distributor compensated $2,000 for article dissemination","Production decision not based on NI 43-101 feasibility study or established mineral reserves","No current feasibility study under CIM Definition Standards"],"eventType":"operations_update","narrative":"Lake Victoria Gold's Imwelo project is fully permitted and targeting construction start in the current quarter following the approval of a Tanzanian-led EPCM team and the completion of sterilization drilling.\n\nFinancing has been secured through a binding term sheet for a $25 million gold loan and the closing of a $4.17 million convertible debenture, with support from strategic partners like Barrick and Taifa Group.\n\nInvestors should note that the decision to commence production is not based on a current NI 43-101 feasibility study or mineral reserves, carrying increased technical and economic risks.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Construction start enabled by financing and permits, but high-risk profile due to lack of feasibility study."},"keyFigures":{"customDimensions":{"gold_loan_amount":"US$25 million","gold_loan_ounces":"6,000","convertible_debenture_total":4165200,"insider_ownership_percentage":">60%","sterilization_drilling_holes":23,"sterilization_drilling_meters":1136}},"quotedText":"Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) has cleared a sequence of milestones on its Imwelo project in Tanzania that position the company at that threshold.","namedEntities":{"people":[{"name":"Charl Coetzee","role":"Senior Project Manager"},{"name":"Stephen Sandifer","role":"CEO of WallstreetPR"}],"products":["Imwelo project","Tembo project","Tocantinzinho mine","Fruta del Norte deposit","Koné project","Buckreef mine"],"companies":[{"name":"Lake Victoria Gold","ticker":"LVG"},{"name":"Monetary Metals","relationship":"lender"},{"name":"City Engineering Company Ltd.","relationship":"EPCM contractor"},{"name":"Sutton Consulting International","relationship":"technical support"},{"name":"Taifa Group","relationship":"partner/contractor"},{"name":"Barrick","relationship":"investor"},{"name":"G Mining Ventures","relationship":"comparable peer"},{"name":"Lundin Gold","relationship":"comparable peer"},{"name":"Montage Gold","relationship":"comparable peer"},{"name":"TRX Gold","relationship":"comparable peer"},{"name":"WallstreetPR","relationship":"distributor"}],"dollarAmounts":[{"amount":"US$25 million","context":"gold loan from Monetary Metals"},{"amount":"$4,165,200","context":"total convertible debenture financing"},{"amount":"$580 million","context":"G Mining Ventures first year revenue"},{"amount":"$240 million","context":"Lundin Gold acquisition of Fruta del Norte"},{"amount":"C$20 billion","context":"Lundin Gold market value"},{"amount":"$825 million","context":"Montage Gold Koné project"},{"amount":"$4,703","context":"TRX Gold average realized price per ounce"},{"amount":"$2,000","context":"compensation for content distribution"}]},"materialImpact":{"score":3,"reasoning":"The company has cleared critical permitting and financing hurdles to begin construction on its Imwelo gold project, a major de-risking event for a development-stage miner. However, the disclosure that the production decision is not based on a current feasibility study (NI 43-101) and the paid nature of the article distribution temper the overall score."},"tickerRelevance":{"others":[{"ticker":"LVGLF","relevance":"OTC listing"},{"ticker":"E1K","relevance":"Frankfurt listing"}],"primary":"LVG"},"globalImportance":30,"audienceRelevance":20,"eventTypeSecondary":["debt_offering"],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"construction-start","sectorWeight":"materials","sourceReliability":"paid-distribution"}},"event_type":"operations_update","event_type_secondary":["debt_offering"],"sentiment":"bullish","material_impact_score":3,"narrative":"Lake Victoria Gold's Imwelo project is fully permitted and targeting construction start in the current quarter following the approval of a Tanzanian-led EPCM team and the completion of sterilization drilling.\n\nFinancing has been secured through a binding term sheet for a $25 million gold loan and the closing of a $4.17 million convertible debenture, with support from strategic partners like Barrick and Taifa Group.\n\nInvestors should note that the decision to commence production is not based on a current NI 43-101 feasibility study or mineral reserves, carrying increased technical and economic risks.","key_figures":{"customDimensions":{"gold_loan_amount":"US$25 million","gold_loan_ounces":"6,000","convertible_debenture_total":4165200,"insider_ownership_percentage":">60%","sterilization_drilling_holes":23,"sterilization_drilling_meters":1136}},"named_entities":{"people":[{"name":"Charl Coetzee","role":"Senior Project Manager"},{"name":"Stephen Sandifer","role":"CEO of WallstreetPR"}],"products":["Imwelo project","Tembo project","Tocantinzinho mine","Fruta del Norte deposit","Koné project","Buckreef mine"],"companies":[{"name":"Lake Victoria Gold","ticker":"LVG"},{"name":"Monetary Metals","relationship":"lender"},{"name":"City Engineering Company Ltd.","relationship":"EPCM contractor"},{"name":"Sutton Consulting International","relationship":"technical support"},{"name":"Taifa Group","relationship":"partner/contractor"},{"name":"Barrick","relationship":"investor"},{"name":"G Mining Ventures","relationship":"comparable peer"},{"name":"Lundin Gold","relationship":"comparable peer"},{"name":"Montage Gold","relationship":"comparable peer"},{"name":"TRX Gold","relationship":"comparable peer"},{"name":"WallstreetPR","relationship":"distributor"}],"dollarAmounts":[{"amount":"US$25 million","context":"gold loan from Monetary Metals"},{"amount":"$4,165,200","context":"total convertible debenture financing"},{"amount":"$580 million","context":"G Mining Ventures first year revenue"},{"amount":"$240 million","context":"Lundin Gold acquisition of Fruta del Norte"},{"amount":"C$20 billion","context":"Lundin Gold market value"},{"amount":"$825 million","context":"Montage Gold Koné project"},{"amount":"$4,703","context":"TRX Gold average realized price per ounce"},{"amount":"$2,000","context":"compensation for content distribution"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-01T10:09:13.669Z","global_importance":30,"audience_relevance":20,"importance_components":{"tickerTier":"micro-cap","eventGravity":"construction-start","sectorWeight":"materials","sourceReliability":"paid-distribution"}},"durationMs":145875,"modelName":"glm-4.7"}}