Lake Victoria Mining Company Blog

VANCOUVER, BRITISH COLUMBIA – May 1, 2012 (LVCA:OTCBB) – Lake Victoria Mining Company, Inc. (“Lake Victoria” or the “Company”) is pleased to report that Mr. Lorne B. Anderson has joined the Board Of Directors of the Company.

Mr. Anderson is a Chartered Accountant with over 45 years of experience since his designation and has been an Independent Financial consultant to the minerals industry since 1998. He has served as a director of Tahoe Resources Inc. since June 2010 to date and as the Director of Skyline Gold Corporation from June 2006 to date and CFO from December 2008 to date. He was the CFO of Tyhee Gold Corp from May 2005 until January 2012 and was the CFO and Treasurer of Glamis Gold Ltd. from 1988 to 1998. Mr. Anderson has more than 20 years experience in the mining industry, during which time he has been involved with administration, equity and bank financings, and investor relation programs.

David Kalenuik, President and CEO of Lake Victoria stated; “We are very pleased to announce the appointment of Lorne Anderson to our board. Mr. Anderson brings a wealth of experience and company management knowledge to the board as an independent Director. His competence and efficiency in the public company arena strengthens and complements our progressive efforts to build Lake Victoria into a world class gold exploration company”.

The Company also announces that, pursuant to its stock option incentive plan, it has granted director incentive stock options to purchase 300,000 common shares of the company at April 27, 2012 closing price for a period of 3 years. The stock options are subject to the terms of the Company’s stock option plan and his Stock Option Agreement.

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 is Africa’s third largest gold producer, behind South Africa and Ghana, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $1.46 billion in 2010, up from $1.076 billion the previous year. Lake Victoria holds nine 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 or by contacting:

Lake Victoria Mining Company, Inc.

David T. Kalenuik, President & CEO

Phone: 303-586-1390

Email: info@lvcamining.com

Disclaimer

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, postulate 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, 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, 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, 2011, 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.

By Doreen David, 15 April 2012 (East African Business Week.)

Dar es Salaam — African Barrick Gold (ABG) said that it aimed to boost its production capacity to one million ounces from the current 700, 000 ounces in two years.

ABG, which is among the largest gold producers in the world, plans to develop its fifth mining pit at Nyanzaga in Mwanza region. Link For Detail..

Latest drilling results from African Barrick Gold’s Nyanzaga project in Tanzania see the total resource raised to 4.6 million gold ounces and increase confidence in this being the company’s next new mine. Link for Detail

Author: Lawrence Williams 

Uyowa Gold Project – Phase 1 Drilling Summary, March 2012

Vancouver, BC November 28^th, 2011 Lake Victoria Mining Company, Inc. (OTCBB: LVCA) is pleased to report additional gold assays from the final stages of the recent reverse circulation drilling program at the Uyowa Prospect.  Intercepts include 4.11 g/t gold over 1 meter, 1.86 g/t gold over 2 meters and 1.11 g/t gold over 7 meters. 

The next phase of exploration will include additional infill and step-out drilling along with geological mapping and electrical geophysical surveying to further define and extend targets beneath shallow laterite soil cover. Drill results to date indicate gold is wide spread, near surface and that the Uyowa Prospect may be amenable to open pit mining; additional drilling is required to validate this possibility.

A total of 2,470 meters of reverse circulation drilling was undertaken across the site of artisanal workings in the northern block of the Uyowa Prospecting License during September and October. Initial results previously announced (News Release October 27^th, 2011) ranged from 4.1 g/t gold over 10 meters to 103 g/t over 1 meter.  Drilling was aimed at testing the strike extensions of the known mineralized gold zone beneath the area of intensive artisanal activity as well as to test a number of geophysical targets that have been defined from the recent ground magnetometer and IP Schlumberger surveys.  Dr. Roger Newell, Chairman of Lake Victoria said “It is early days at Uyowa, but these results are very positive and point the way towards advancing open pit status of the project.” 

Drilling successfully delineated a number of narrow zones of gold mineralization along a strike length of 1300 meters. The drill program was extended as far west as the current artisanal workings where at least two narrow gold lenses have been identified having grades of between 0.50 g/t gold to 1.4 g/t gold.

Infill drilling on 40 meter spaced N-S drill fences was conducted across 300 meters of strike length within the western part of the artisanal workings. Drilling, on the original 80 meter spaced drill fences, indicated the presence of at least 4 mineralized veins  having,  not only increased widths, but higher gold grades. All 4 lenses, and a possible  5^th lens were recognized in the infill sections.  Geological mapping of a low ridge of granitic gneisses in the southern part of the license revealed the presence of a number of NW-SE trending fractures and shear zones which when traced to the NW coincide with the ENE mineralized shear zone in the western part of the artisanal workings in which the increased gold veins occur. This NW-SE “structural corridor” may be significantly important in providing structural loci for gold mineralization.

A single borehole (URC027), collared 400 meters along strike to the east of the artisanal workings, was aimed at testing the coincident Schlumberger IP anomaly and the interpolated mineralized shear zone extension.  Results were positive with visible gold noted in the RC chips which in turn returned two anomalous zones of gold mineralization  greater than 0. 50 g/t gold down-hole. 

Similarly, a single borehole (URC022) was collared some 60 meters  to the south of the mineralized trend close to the eastern extent of the artisanal workings and intercepted  two narrow zones of gold mineralization suggesting the presence of additional gold veins in proximity to the known workings.

Summary of Borehole Intercepts

Follow-up exploration is to be focused:

1. To rapidly define and evaluate the zone of increased gold veins and grade within the western part of the artisanal mine site.  A drilling program of 3000 meters of Reverse circulation and 1000 meters of diamond drilling are planned for early in the New Year.
2. Undertake Schlumberger profiling across structurally defined targets as interpreted from ground geophysical surveys including both magnetometer and gradient IP surveys. At least 7 targets have been prioritized and include:

• Extension of gold mineralization along 7.50 kilometers of strike, with particular attention to where the shear zone has been transgressed by NW-SE trending fracture zones. 
• Coincident geophysical targets within the NW-SE “structural corridor” both on the southern and northern limbs of the magnetically defined ENE trending synform.
• A similar structural “fingerprint” as seen over the western part of the artisanal site from Landsat Imagery and reinforced by the recent gradient array survey, is noted some 5 kilometers further to the west. The westerly extension of the mineralized shear zone appears to have been right laterally displaced for some 1.5 kilometers to the north by a major NE-SW fault.

Due to the limited use of soil and termite sampling, on account of excessive sand cover and a shallow water table, RAB/shallow RC drilling will be planned on prioritized targets during 2012.

Analytical work is carried out at the independent SGS Laboratories in Mwanza, Tanzania. The drill samples have been subjected to full sample preparation followed by a 50 gram fire assay with an AA finish. Blanks (5%), commercial standards (5%) and duplicates (5%) have been used in each sample batch of 20 samples to monitor laboratory performance during the analysis. Samples submitted either represent 5 meters composite samples of 1 meter intervals or 1 meter samples where on site logging and panning of the RC chips indicated the presence of visible gold or gold-bearing sulphides

The reader is cautioned that the potential quantity and grade of the regional exploration target is conceptual in nature; it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource and there is no guarantee that these resources, if delineated, will be economic or sufficient to support a commercial mining operation. The Company’s production objectives are intended to provide an indication of management’s current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met.

Clive King, P.Geo, a Qualified Person as such term is defined in Canadian National Instrument 43-101, is responsible for monitoring the supervision and quality control of Lake Victoria’s exploration program and has reviewed and verified the technical information contained in this news release.  Clive King is registered with the South African Council of Natural Scientific Professions (Pr.Sci.Nat Reg. No. 400065/09).

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 is Africa’s fourth largest gold producer, behind South Africa and Ghana, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $1.076 billion in 2009, up from $932.4 million the previous year. Lake Victoria holds nine 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 or by contacting:

Lake Victoria Mining Company, Inc.

David T. Kalenuik, CEO & President

Phone: 303-586-1390

Email: info@lvcamining.com

Disclaimer

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, postulate 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, 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, 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.

Pictures showing the new auger drill acquired – news released on 2011/16/11 found below.

Vancouver, British Columbia, November 16, 2011, (LVCA:OTCBB) – Lake Victoria Mining Company, Inc. (“Lake Victoria” or the “Company”) is pleased to announce the purchase of a mobile auger drill rig to provide soil sampling services over “mbuga” covered areas of its gold projects in the Lake Victoria Greenstone Gold Belt of Tanzania.

 Dr. Roger Newell, Chairman of Lake Victoria comments:  “The addition of the auger rig as a cost effective exploration tool will help us rapidly evaluate our “mbuga” covered targets without having to rely on the availability and expensive commercial RAB rigs during this early stage of exploration.  Since a large proportion of the land mass in the Lake Victoria Gold District is covered by “mbuga” the chances of making a new gold discovery in areas of our existing licenses is very good.  The Company is committed to ensure that no stone is left unturned in their quest for exploring for hidden targets beneath the “mbuga”  “.

 Much of the low-lying areas, including the drainages around Lake Victoria, in the northern part of Tanzania, are covered by a blanket of dark grey clays known as Black Cotton Soil or locally as “mbuga” clays.  These clays, believed to be lacustrine sediments derived from periodic flooding of Lake Victoria, have masked the underlying land surface, covering both in-situ soils and rock outcrops and allowing little to no chemical dispersion from the underlying substrate to pass through to the surface.  Depths of the “mbuga” vary between a few centimetres to in excess of 10 meters thick. Exploration for mineral deposits in “mbuga” covered areas therefore becomes difficult, time consuming and costly as it generally requires the scheduling and contracting of a RAB drilling program. 

 Exploration over these “mbuga” covered areas is largely done by various geophysical techniques conducted by the Company’s own geophysical teams and equipment. Upon interpretation of the collected geophysical data, this results in the mapping out of the geophysical properties of the underlying rock sequences and the structural imprint in order to interpret potential gold targets. Follow up drilling is required to test these targets to confirm mineralization.

Utilizing the recently acquired auger drill rig the Company intends to test the geophysical targets that have already been interpreted, across many of their “mbuga” covered project areas, including but not limited to the Suguti, Murangi, Kinyambwiga, Kalemela and the Tarime licenses in the Lake Victoria District. The auger rig has the capability to drill holes to depths in excess of 20 meters; sufficient to reach below the “mbuga” cover. Using systematic sampling programs and the specially designed sampling tool Lake Victoria will sample the soil/saprock interface beneath the “mbuga” at the bottom of each drill hole.

 The auger rig has recently arrived in the country and has been deployed in testing the immediate strike extensions of the subsurface Kanunga 1 gold vein at the Kinyambwiga Prospect. A number of additional N-S sample traverses are planned further east along strike of the Kanunga 1 vein to validate previously reported soil anomalies.

The drill rig will the move onto the Suguti Project where a program has been planned to trace a number of NE-SW trending soil and gradient IP anomalies beneath the “mbuga” in the vicinity of the major NW striking Suguti Fault.

 The Company intends to have the new auger drill constantly deployed to complete the testing of all existing geophysical targets that lie below “mbuga” covering. Assay results will be published as they become available and will provide the basis for planning future exploration and possible drill programs on these licenses. 

 The reader is cautioned that the potential quantity and grade of the regional exploration target is conceptual in nature; it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource and there is no guarantee that these resources, if delineated, will be economic or sufficient to support a commercial mining operation. The Company’s production objectives are intended to provide an indication of management’s current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met.

 Clive King, P.Geo, a Qualified Person as such term is defined in Canadian National Instrument 43-101, is responsible for monitoring the supervision and quality control of Lake Victoria’s exploration program and has reviewed and verified the technical information contained in this news release.  Clive King, registered with the South African Council of Natural Scientific Professions (Pr.Sci.Nat Reg. No. 400065/09). 

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 is Africa’s third largest gold producer, behind South Africa and Ghana, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $1.076 billion in 2009, up from $932.4 million the previous year. Lake Victoria holds nine 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 or by contacting:

Lake Victoria Mining Company, Inc.

David T. Kalenuik, CEO & President

Phone: 303-586-1390

Email: info@lvcamining.com

 Disclaimer

 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, postulate 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, 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, 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.

Vancouver, British Columbia, November 8, 2011, (LVCA:OTCBB) – Lake Victoria Mining Company, Inc. (“Lake Victoria” or the “Company”) is pleased to report initial assays that confirm the presence of gold at the recently acquired Kiabakari East Prospecting License in Lake Victoria Greenstone Gold district of Tanzania.   Lake Victoria’s Kiabakari East license covers an area of 15.2 square kilometers, and is located about 4 kilometers southeast of the now closed Kiabakari Gold Mine which reportedly produced 284,335 oz of gold at a grade of 6.1 g/t from 1959 to 1966.

 The Company was granted this prospecting license in April 2011 (see press release dated 2 May 2011) from the United Republic of Tanzania Ministry of Energy and Minerals. To confirm the presence, the extent and the grade of gold at Kiabakari East, Lake Victoria collected one meter long channel samples from existing shallow pits and trenches.  A total of 33 samples were collected from locations across a hill of Banded Iron Formation (BIF) that covers a surface outcrop area of 0.5 hectares.  These samples were submitted to the SGS Laboratory in Mwanza for 50 gm fire assays; gold values were encountered in most of the samples. The composite grades for each of the rock faces sampled are summarized in the table below:

Summary of Kiabakari East BIF Hill Pit and Trench Samples

*KP017 is a rock sample collected at the bottom of a 12 meter deep artisanal mine shaft.

Dr. Roger Newell, Chairman of Lake Victoria commented “It is still early days for this license, but, Kiabakari East contains good geology that is capable of hosting a nice gold deposit. With the former Kiabakari Mine located only about 4 kilometers to the NW, the current gold assays from the BIF Hill suggest that a significant gold deposit could be close by.“ 

 Kiabakari East (KE) is nearby to some of Lake Victoria’s other licenses which include Kinyambwiga, Suguti and Murangi. These four licenses, all within a radius of 18 kilometers, form a package of licenses held by Lake Victoria which total 170 square kilometers of productive greenstone belt geology.  Numerous gold occurrences are present in these folded greenstone rocks including Barrick’s active North Mara Mine with reported proven and probable reserves of 2.95 million ounces of gold.

Previous explorers have trenched and drilled for gold at Kiabakari East, and when Lake Victoria acquired the Prospecting License, about 500 artisanal miners were active about 1.7 kilometers east of the BIF Hill. At least 24 drill holes, believed to have been drilled during 2005, have been identified up to 1.6 kilometers east of the BIF Hill. These existing holes, of which no information is currently available, lie on three evenly spaced N-S drill fences.

Selected re-sampling and detailed mapping of the trenches across the BIF Hill will provide a better understanding of the geology and distribution of gold mineralization.  A detailed ground magnetic survey is currently underway and an electrical IP survey may be planned for the near future.  These surveys will be conducted by Lake Victoria’s own skilled personnel using the Company’s own state of the art geophysical equipment.  A program of diamond drilling may be designed to further define mineralized structures. Additional project exploration results will be published as the information becomes available.

 Analytical work is carried out at the independent SGS Laboratories in Mwanza, Tanzania. The rock samples have been subjected to full sample preparation followed by a 50 gram fire assay with an AA finish. The reader is cautioned that the potential quantity and grade of the regional exploration target is conceptual in nature; it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource and there is no guarantee that these resources, if delineated, will be economic or sufficient to support a commercial mining operation. The Company’s production objectives are intended to provide an indication of management’s current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met.

Clive King, P.Geo, a Qualified Person as such term is defined in Canadian National Instrument 43-101, is responsible for monitoring the supervision and quality control of Lake Victoria’s exploration program and has reviewed and verified the technical information contained in this news release.  Clive King, registered with the South African Council of Natural Scientific Professions (Pr.Sci.Nat Reg. No. 400065/09).

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 is Africa’s third largest gold producer, behind South Africa and Ghana, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $1.076 billion in 2009, up from $932.4 million the previous year. Lake Victoria holds nine 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 or by contacting:

Lake Victoria Mining Company, Inc.
David T. Kalenuik, CEO & President
Phone: 303-586-1390
Email: info@lvcamining.com

 Disclaimer

 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, postulate and similar expressions, or are those, which, by their nature, refer to future events. Forward-looking statements in this news release include statements about the Company’s belief that the positive gold assays from the sampling of the BIF hill pits and trenches at the Kiabakari East license indicate the potential for an important gold deposit to exist in a geologically significant district of Tanzania and that the Company’s plans for further geophysical surveys (Magnetics, IP gradient and Schlumberger profiling) and additional sampling coupled with an increasing awareness of the structural controls (through possible diamond drilling) will result in targets for follow-up drilling. 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, 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, 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.

LAKE VICTORIA REPORTS INITIAL HIGH GRADE DRILL RESULTS FROM UYOWA GOLD PROJECT – INCLUDING ONE METER OF 103 GRAMS PER TON OF GOLD

Vancouver, B.C., October 27, 2011 (LVCA:OTCBB) – Lake Victoria Mining Company, Inc. (the “Company”) is pleased to announce the positive results of the reverse circulation drill program recently completed on its Uyowa gold project in Tanzania. Notable results received to date include: 17.6 g/t over 6 meters, 7.95 g/t Au over 9 meters, 4.1 g/t over 10 meters, 4.06 g/t Au over 13 meters and 10.41 g/t over 3 meters inclusive of a number of significant 1 meter intervals of 103 g/t Au, 33 g/t Au and 24 g/t Au respectively. The Uyowa project is located about 240 kilometers directly southwest of Mwanza.

Dr. Roger Newell, Chairman of Lake Victoria said “this first round of drilling has returned extremely encouraging results as well as demonstrating that higher grade gold zones of economic mining widths are present within the known mineralized trend. Furthermore, ground geophysics is providing the necessary back-up to define additional targets in which to focus our exploration efforts to discover additional gold occurrences within this prospective district”

A total of 29 reverse circulation boreholes amounting to 2,470 meters was undertaken across the site of artisanal workings and environs in the northern block of the Uyowa Prospect. Drilling was aimed at testing the strike extensions of the known mineralized gold zone beneath an area of intense artisanal activity as well as to test a number of geophysical targets that have been defined from the recent ground magnetometer and IP Schlumberger surveys. Unlike the central and eastern part of the Prospect, which is represented by a single mineralized structure, the western part is comprised of at least 4 mineralized veins that generally, not only have increased widths, but, from the assay results received to date, also reflect substantially higher gold grades, across a strike length of some 300 meters (Refer Table 1).

Table 1: Summary of Uyowa Reverse Circulation Drill Results

 *lateritic duricrust
  Boreholes URC013 to URC018 were drilled in the western part of the prospect.
1 troy oz of gold = 31.103 gm of gold or 1 gm=0.03215 oz gold; i.e.: 17.6 g/t Au=0.56584 oz/t of gold 

Previous mapping and channel sampling of a number of artisanal shafts (Refer Press Release 12^th September 2011 – “High Grade Gold Reported and Drilling Program Commences at Lake Victoria’s Uyowa Gold Project- Tanzania, East Africa”) indicated a narrow, high grade quartz-rich gold bearing zone striking ENE and dipping steeply to the north beneath a 10 meter thick sand and lateritic duricrust cover. Drilling was conducted along 80 meter spaced N-S fences across a strike length of 1,300 meters with all boreholes angled between 50-65 degrees to the south.

In the central and eastern part of the Prospect, drilling identified a number of narrow and anomalous gold bearing zones in which a single continuous gold bearing silicified shear zone, having a grade greater than 0.5g/t gold over + 1 meter interval, is persistent throughout the area being tested. Gold mineralization occurs as free gold as well as in association with pyrite mineralization.  Drill samples were collected across the gold bearing zones on 1 meter intervals with the results consequently representing a diluted grade to those higher grade assays that were reported earlier over narrow widths within the artisanal shafts.

A single drill hole, collared 400 meters to the east of the artisanal workings, targeted the interpolated position along strike of the mineralized shear zone.  A number of zones of pyrite mineralization and associated silicification with quartz veining and minor visible gold were noted down-hole indicating the persistence of the mineralized shear zone along strike.

Interpretation of the ground magnetic survey suggests the presence of a graben structure   that coincides with the last of the artisanal workings on the western side of known mineralized zone.   The area, unlike the artisanal site where laterite is often exposed on surface, is overlain by sand cover for some 500 meters to the west before lateritic soils are again present suggesting possible continuation of the mineralized trend further to the west. 

This first round of drilling has successfully tested the continuity and persistence of the mineralized shear zone along some 1,700 meters of strike and to a depth of up to 60 meters below surface.  The potential of the zone, besides being open-ended along strike and open down-dip, is to be focused in the western part of the trend where increased gold grades and widths have been intersected.   Regional mapping of granitic gneiss outcrops to the south-east of the zone indicate the presence of NW-SE faults zones that may well have a controlling influence on the emplacement of the gold mineralization. Such features are important structural controls for other gold deposits elsewhere in the Lake Victoria Gold Belt. 

Two boreholes were drilled to test two ground magnetic targets:

The ground magnetic survey indicates that the gold mineralization occurs along the northern limb of an E-W trending antiform that appears to close toward the east.  Schlumberger profiling has revealed a number of coincident chargeability and resistivity anomalous across the “limb” of the fold. A single borehole was drilled, 3.36 kilometers east from the artisanal workings, to test the magnetic signature and IP Schlumberger anomalies along the fold arc.  The area is overlain by red lateritic soils. Drilling intersected a number of zones of increased magnetite alteration down-hole. No pyrite or intense silicification was noted. The second borehole was drilled to test a similar ground magnetic signature that is present within the “inner” core of the fold zone 1.20 kilometers to the south of the artisanal workings and within the NW-SE structural corridor that defines the higher grade portion of the mineralized zone to the north. Although assay results are not yet available, the borehole did intersect an anomalous 4 meter zone of disseminated pyrite mineralization overlying a zone of magnetite-rich granitic gneiss.

The immediate potential of the Uyowa gold mineralization lies within the western part of the prospect where an increase in the number of gold bearing structures together with increased width*grade over some 300 meter strike length has been delineated by recent drilling.

The regional potential of the Uyowa gold mineralization, as seen from the ground magnetic images appears prospective, especially since it is now known that significant high grade gold mineralization and associated alteration are present within the District. The gold mineralization is localized along the limb of a large E-W trending anti-form that closes to the east. Although, it is early days in the exploration of this prospect, the understanding of the geology of the area is still very limited.  Since very little outcrop is present, it will only be through ground geophysical surveys (Magnetics, IP gradient and Schlumberger profiling) and soil geochemistry coupled with an increasing awareness of the structural controls (through diamond drilling in the western part of the mineralized trend) that targets for follow-up drilling can be prioritized.

Gradient IP surveys are currently in progress across the prospect and are expected to be completed before year end. Once results are available, a revised structural interpretation is expected to be undertaken with the aim of refining targets for possible RAB drilling. Prior to embarking on a RAB program, a short diamond drill program of 1000 meters has been recommended to help define the structural controls in the western part of the E-W shear zone where the high grade gold veins occur. 

Analytical work is carried out at the independent SGS Laboratories in Mwanza, Tanzania. The drill samples have been subjected to full sample preparation followed by a 50 gram fire assay with an AA finish. Blanks (5%), commercial standards (5%) and duplicates (5%) have been used in each sample batch of 20 samples to monitor laboratory performance during the analysis. Samples submitted either represent 5 meters composite samples of 1 meter intervals or 1 meter samples where on site logging and panning of the RC chips indicated the presence of visible gold or gold-bearing sulphides. 

The reader is cautioned that the potential quantity and grade of the regional exploration target is conceptual in nature; it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource and there is no guarantee that these resources, if delineated, will be economic or sufficient to support a commercial mining operation. The Company’s production objectives are intended to provide an indication of management’s current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met.

Clive King, P.Geo, a Qualified Person as such term is defined in Canadian National Instrument 43-101, is responsible for monitoring the supervision and quality control of Lake Victoria’s exploration program and has reviewed and verified the technical information contained in this news release.  Clive King is registered with the South African Council of Natural Scientific Professions (Pr.Sci.Nat Reg. No. 400065/09). 

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 is Africa’s third largest gold producer, behind South Africa and Ghana, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $ 1.46 billion in 2010, up from $ 1.076 billion the previous year. Lake Victoria holds nine 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 or by contacting:

Lake Victoria Mining Company, Inc.

David T. Kalenuik, CEO & President

Phone: 303-586-1390

Email: info@lvcamining.com

Disclaimer

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, postulate and similar expressions, or are those, which, by their nature, refer to future events. Forward-looking statements in this news release include statements about the Company’s belief that high grade assays from underground sampling of artisanal shafts at the Uyowa Gold Project indicate the potential for an important gold deposit to exist in a geologically significant new district in Tanzania and the Company’s plans for further geophysical surveys (Magnetics, IP gradient and Schlumberger profiling) and soil geochemistry coupled with an increasing awareness of the structural controls (through diamond drilling in the western part of the mineralized trend) that targets for follow-up drilling. 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, 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, and other risks and uncertainties, including those described under “Risk Factors” in the Company’s Quarterly Report on Form 10-Q filed on August 12, 2011, 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. 

Vancouver, B.C., October 27, 2011 (LVCA:OTCBB) – Lake Victoria Mining Company, Inc. (the “Company”) is pleased to announce the positive results of the reverse circulation drill program recently completed on its Uyowa gold project in Tanzania. Notable results received to date include: 17.6 g/t over 6 meters, 7.95 g/t Au over 9 meters, 4.1 g/t over 10 meters, 4.06 g/t Au over 13 meters and 10.41 g/t over 3 meters inclusive of a number of significant 1 meter intervals of 103 g/t Au, 33 g/t Au and 24 g/t Au respectively. The Uyowa project is located about 240 kilometers directly southwest of Mwanza. 

Dr. Roger Newell, Chairman of Lake Victoria said “this first round of drilling has returned extremely encouraging results as well as demonstrating that higher grade gold zones of economic mining widths are present within the known mineralized trend. Furthermore, ground geophysics is providing the necessary back-up to define additional targets in which to focus our exploration efforts to discover additional gold occurrences within this prospective district”

A total of 29 reverse circulation boreholes amounting to 2,470 meters was undertaken across the site of artisanal workings and environs in the northern block of the Uyowa Prospect. Drilling was aimed at testing the strike extensions of the known mineralized gold zone beneath an area of intense artisanal activity as well as to test a number of geophysical targets that have been defined from the recent ground magnetometer and IP Schlumberger surveys. Unlike the central and eastern part of the Prospect, which is represented by a single mineralized structure, the western part is comprised of at least 4 mineralized veins that generally, not only have increased widths, but, from the assay results received to date, also reflect substantially higher gold grades, across a strike length of some 300 meters (Refer Table 1).

Table 1: Summary of Uyowa Reverse Circulation Drill Results

Previous mapping and channel sampling of a number of artisanal shafts (Refer Press Release 12^th September 2011 – “High Grade Gold Reported and Drilling Program Commences at Lake Victoria’s Uyowa Gold Project- Tanzania, East Africa”) indicated a narrow, high grade quartz-rich gold bearing zone striking ENE and dipping steeply to the north beneath a 10 meter thick sand and lateritic duricrust cover. Drilling was conducted along 80 meter spaced N-S fences across a strike length of 1,300 meters with all boreholes angled between 50-65 degrees to the south.

In the central and eastern part of the Prospect, drilling identified a number of narrow and anomalous gold bearing zones in which a single continuous gold bearing silicified shear zone, having a grade greater than 0.5g/t gold over + 1 meter interval, is persistent throughout the area being tested. Gold mineralization occurs as free gold as well as in association with pyrite mineralization.  Drill samples were collected across the gold bearing zones on 1 meter intervals with the results consequently representing a diluted grade to those higher grade assays that were reported earlier over narrow widths within the artisanal shafts.

A single drill hole, collared 400 meters to the east of the artisanal workings, targeted the interpolated position along strike of the mineralized shear zone.  A number of zones of pyrite mineralization and associated silicification with quartz veining and minor visible gold were noted down-hole indicating the persistence of the mineralized shear zone along strike.

Interpretation of the ground magnetic survey suggests the presence of a graben structure   that coincides with the last of the artisanal workings on the western side of known mineralized zone.   The area, unlike the artisanal site where laterite is often exposed on surface, is overlain by sand cover for some 500 meters to the west before lateritic soils are again present suggesting possible continuation of the mineralized trend further to the west. 

This first round of drilling has successfully tested the continuity and persistence of the mineralized shear zone along some 1,700 meters of strike and to a depth of up to 60 meters below surface.  The potential of the zone, besides being open-ended along strike and open down-dip, is to be focused in the western part of the trend where increased gold grades and widths have been intersected.   Regional mapping of granitic gneiss outcrops to the south-east of the zone indicate the presence of NW-SE faults zones that may well have a controlling influence on the emplacement of the gold mineralization. Such features are important structural controls for other gold deposits elsewhere in the Lake Victoria Gold Belt. 

Two boreholes were drilled to test two ground magnetic targets:

The ground magnetic survey indicates that the gold mineralization occurs along the northern limb of an E-W trending antiform that appears to close toward the east.  Schlumberger profiling has revealed a number of coincident chargeability and resistivity anomalous across the “limb” of the fold. A single borehole was drilled, 3.36 kilometers east from the artisanal workings, to test the magnetic signature and IP Schlumberger anomalies along the fold arc.  The area is overlain by red lateritic soils. Drilling intersected a number of zones of increased magnetite alteration down-hole. No pyrite or intense silicification was noted. The second borehole was drilled to test a similar ground magnetic signature that is present within the “inner” core of the fold zone 1.20 kilometers to the south of the artisanal workings and within the NW-SE structural corridor that defines the higher grade portion of the mineralized zone to the north. Although assay results are not yet available, the borehole did intersect an anomalous 4 meter zone of disseminated pyrite mineralization overlying a zone of magnetite-rich granitic gneiss.

The immediate potential of the Uyowa gold mineralization lies within the western part of the prospect where an increase in the number of gold bearing structures together with increased width*grade over some 300 meter strike length has been delineated by recent drilling.

The regional potential of the Uyowa gold mineralization, as seen from the ground magnetic images appears prospective, especially since it is now known that significant high grade gold mineralization and associated alteration are present within the District. The gold mineralization is localized along the limb of a large E-W trending anti-form that closes to the east. Although, it is early days in the exploration of this prospect, the understanding of the geology of the area is still very limited.  Since very little outcrop is present, it will only be through ground geophysical surveys (Magnetics, IP gradient and Schlumberger profiling) and soil geochemistry coupled with an increasing awareness of the structural controls (through diamond drilling in the western part of the mineralized trend) that targets for follow-up drilling can be prioritized.

Gradient IP surveys are currently in progress across the prospect and are expected to be completed before year end. Once results are available, a revised structural interpretation is expected to be undertaken with the aim of refining targets for possible RAB drilling. Prior to embarking on a RAB program, a short diamond drill program of 1000 meters has been recommended to help define the structural controls in the western part of the E-W shear zone where the high grade gold veins occur. 

Analytical work is carried out at the independent SGS Laboratories in Mwanza, Tanzania. The drill samples have been subjected to full sample preparation followed by a 50 gram fire assay with an AA finish. Blanks (5%), commercial standards (5%) and duplicates (5%) have been used in each sample batch of 20 samples to monitor laboratory performance during the analysis. Samples submitted either represent 5 meters composite samples of 1 meter intervals or 1 meter samples where on site logging and panning of the RC chips indicated the presence of visible gold or gold-bearing sulphides.

The reader is cautioned that the potential quantity and grade of the regional exploration target is conceptual in nature; it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource and there is no guarantee that these resources, if delineated, will be economic or sufficient to support a commercial mining operation. The Company’s production objectives are intended to provide an indication of management’s current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met.

Clive King, P.Geo, a Qualified Person as such term is defined in Canadian National Instrument 43-101, is responsible for monitoring the supervision and quality control of Lake Victoria’s exploration program and has reviewed and verified the technical information contained in this news release.  Clive King is registered with the South African Council of Natural Scientific Professions (Pr.Sci.Nat Reg. No. 400065/09).

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 is Africa’s third largest gold producer, behind South Africa and Ghana, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $ 1.46 billion in 2010, up from $ 1.076 billion the previous year. Lake Victoria holds nine 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 or by contacting:

Lake Victoria Mining Company, Inc.

David T. Kalenuik, CEO & President

Phone: 303-586-1390

Email: info@lvcamining.com

Disclaimer

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, postulate and similar expressions, or are those, which, by their nature, refer to future events. Forward-looking statements in this news release include statements about the Company’s belief that high grade assays from underground sampling of artisanal shafts at the Uyowa Gold Project indicate the potential for an important gold deposit to exist in a geologically significant new district in Tanzania and the Company’s plans for further geophysical surveys (Magnetics, IP gradient and Schlumberger profiling) and soil geochemistry coupled with an increasing awareness of the structural controls (through diamond drilling in the western part of the mineralized trend) that targets for follow-up drilling. 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, 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, and other risks and uncertainties, including those described under “Risk Factors” in the Company’s Quarterly Report on Form 10-Q filed on August 12, 2011, 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.

Vancouver, B.C., September 12, 2011 (LVCA:OTCBB) – Lake Victoria Mining Company, Inc. (the “Company”) is pleased to announce encouraging assay results from underground sampling of artisanal shafts at the Uyowa Gold Project in northwestern Tanzania. Notable results include: 89.60 g/t Au over 0.20meters, 68.30g/t Au over 0.32 meters, 66.70 g/t Au over 0.9 meters and 57.10 g/t Au over 0.25 meters.

Previous exploration by Ashanti in 2003 identified 4 narrow zones of gold mineralization having an east-west strike length of some 300 meters across a surface width of 60 metres. Borehole intercepts returned a number of encouraging and significant intersections.

At about the time that Lake Victoria recommenced exploration activities, a local artisanal gold rush began at the Uyowa workings, and as of today the artisanal miners have exposed and traced the mineralizing structures along a strike length of about 900 meters.  Although the miners have targeted narrow high grade gold shoots, the distribution of shafts along strike suggests that multiple gold bearing structures may be present across the width of the surface workings. The mineralized zone is overlain by a thick layer of residual hard soils that in forms a “cap” up to 8 meters thick and from which gold is being recovered by the artisanal miners.

Artisanal mining is currently focused across the central and eastern parts of the mineralized trend. Lake Victoria’s sampling was conducted across the working face at the base of the artisanal shafts at depths of between 5 to 22 meters. Both sides of the identified quartz veins were also sampled; all samples were analyzed by fire assaying at the SGS Laboratory in Mwanza, Tanzania. Results indicate anomalous gold grades extend into the wall rocks.  The mineralized zone dips steeply to the north. A summary of the more significant results from within the artisanal shafts is presented in Table 1.

Table 1

Artisanal Shaft Sample Results

Notes to Table 1: F/W means footwall samples, collected below the vein; H/W means hanging wall samples, collected above the vein.  Shear means samples collected from a rock fracture, where two rock bodies have broken and moved past each other.  Qtz Vn means the sample was collected from a quartz vein.

A recently completed ground magnetic survey suggests the gold mineralization is coincident with a prominent structure that appears to be the northern limb of an E-W trending fold zone. Gold mineralization is related to narrow and intensely silicified shear zones containing disseminated pyrite mineralization.

Dr. Roger Newell, Chairman of Lake Victoria said “We are very pleased by these high grade assays that indicate the potential for an important gold deposit to exist in a geologically significant new district in Tanzania.”

The reader is cautioned that the potential grade of the regional exploration target is conceptual in nature; it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource and there is no guarantee that these resources, if delineated, will be economic or sufficient to support a commercial mining operation.

Geological mapping and geophysical surveys including gradient IP and a number of detailed select north-south Schlumberger profiles are in progress to further define mineralized structures.  An initial 1,800 meter Reverse Circulation drilling program commenced on Saturday, September 10^th, with drill holes expected to be located on north-south drill fences spaced 80 meters apart. Individual drill holes are planned to be inclined to the south at -50 to -65 degrees. The objective of the drilling program is to begin to quantify the strike and grade of mineralization beneath the artisanal workings. 

Assays are expected be conducted by the independent SGS Laboratories in Mwanza, Tanzania. The drill samples are expected to be tested by 50 gram fire assays and with an atomic adsorption finish. To insure quality control, blank samples (5%), commercial standards (5%) and duplicate samples (5%) are expected to be included with each group of 20 drill hole samples. Drill samples are expected to represent either 5 meters composite samples of 1 meter length, or 1 meter samples where on site logging and panning of the Reverse Circulation chips indicate the presence of visible gold or sulfide minerals. 

At the Singida Gold Project, the Company completed contractually required payments to maintain the core property holdings, and management remains in the process of evaluating the direction we will pursue at Singida. This may include, either self-mine, JV or a sale of the assets. With core property payments completed until 2013, and a rising gold price, the Company is in a position to hold Singida while different options regarding a future direction are carefully evaluated. 

Clive King, P.Geo, a Qualified Person as such term is defined in Canadian National Instrument 43-101, is responsible for monitoring the supervision and quality control of Lake Victoria’s exploration program and has reviewed and verified the technical information contained in this news release. Clive King is registered with the South African Council of Natural Scientific Professions (Pr.Sci.Nat Reg. No. 400065/09).

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 is Africa’s third largest gold producer, behind South Africa and Ghana, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $ 1.076 billion in 2009, up from $ 932.4 million the previous year. Lake Victoria holds nine 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 or by contacting: 

Lake Victoria Mining Company, Inc.

David T. Kalenuik, CEO & President

Phone: 303-586-1390

Email: info@lvcamining.com 

Disclaimer 

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, postulate and similar expressions, or are those, which, by their nature, refer to future events. Forward-looking statements in this news release include statements about the Company’s belief that high grade assays from underground sampling of artisanal shafts at the Uyowa Gold Project indicate the potential for an important gold deposit to exist in a geologically significant new district in Tanzania and its plan for the 1,800 meter reverse circulation drilling program, and its expectation about assays to be conducted by SGS Laboratories for the drill samples from the 1,800 meter reverse circulation drilling program. 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, 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, and other risks and uncertainties, including those described under “Risk Factors” in the Company’s Quarterly Report on Form 10-Q filed on August 12, 2011, 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.

Lake Victoria Mining Company follows the news on the Handeni area with interest as it has secured property in this area. Details of Lake Victoria Mining Company’s Handeni property follows:

Handeni Gold Project

The Handeni Project, comprising of three (3) Prospecting Licenses and covering a total area of 200.59 square kilometers (Table 15), is located approximately 240 kilometres by road north- west of Dar es Salaam and some 30 kilometers south of Handeni town within the Handeni District (Map 8). The Company has acquired 100% of PL7148/2011 as well as entering into an option to purchase agreement for 100% of PL7002/2001 and PL4816/2807 (Table 15).

Map 8. Location map of the Handeni Projec

Table 15. Details of Handeni Region Prospecting Licenses

Gold was discovered in the area in 2003 and was centered at Magambazi village. However, the area has recently come under the spotlight as a potentially new gold district. High grade gold intersections are being reported by Canaco Resources from their drilling programs that are being conducted on their 197 square kilometer Kilindi PL located immediately west of our PLs.

The area, situated outside the known boundary of the Tanzanian Craton, has long been overlooked as a major exploration target due to primarily the nature of the high grade metamorphic rocks not being considered suitable to host major gold deposits. Increased attention is now being paid to this area that is situated between the known Tanzanian Craton and the Proterozoic Mozambique Mobile Belt.

The geology of the region is represented by high grade metamorphic rocks within the amphibolite to granulite facies comprising of feldspar-quartz –biotite and garnet-hornblende-biotite gneisses and pegmatites aligned along a regional northwest-southeast trend.  The host lithologies for gold mineralisation as reported by Canaco Resources are comprised of garnet-silica altered amphibolite together with minor biotite-kyanite-quartz-feldspar gneisses. Folding, with fold axes aligned along the regional structure are evident at Magambazi, where they form, in conjunction with the favourable mafic lithologies, the primary controls to the gold mineralisation.

Exploration Strategy

Prior to commencing fieldwork, the following desktop studies were undertaken:

• Structural interpretation of the regional Government Aerognetic data across the area
• Landsat interpretation using the various mineral indexes and alteration ratios.

With our objective to evaluate the licenses that are under option as swiftly as possible, stream sediment sampling is currently being conducted over all of the licenses.

The dominant drainage patterns are from the north-west to the south-east and are generally defined along major lithological contacts particularly between units of amphibolite and quartz-feldspar gneiss. The Mligazi River, transecting the SW corner of Mkulima PL4816/2007 and the Kwale River draining the Amani PL7002/2011 are the main river systems that drain both license areas.  Secondary tributaries are developed along the NE-SW cross-cutting structures. Regional stream sediment sampling has been planned on 1^st, 2^nd, 3^rd and 4^th order tributaries from the 1:50,000 scale topography maps (Map 9). To date a total of 120 samples have been collected from the Mkulima PL, in which a 1 kilogram sample was panned on site and a 500gm sample has been submitted to SGS Laboratory to test for bottle–leachable-extractable gold (BLEG).  Approximately 210 stream sediment samples are planned to be collected from Amani PL7002/2011.

Map 9. Stream Sediment Sampling Program for Handeni Region Prospecting Licenses