LAKE VICTORIA CONTRACTS LAYNE DRILLING TO COMPLETE A MINIMUM OF 8000M OF DRILLING TO DEFINE SUBSURFACE GOLD RESOURCES AT TWO GOLD PROJECTS, TANZANIA
Golden, Colorado, July 28, 2010 (LVCA:OTCBB) On July 27th, the Company entered a contract with Layne Drilling of Mwanza. Drilling is scheduled to begin on August 30th, at the Company’s Singida gold project, central Tanzania. In the latter part of September, it is planned that the drill rig will be moved to the Kinyambwiga gold project in the northern part of Tanzania to commence a second phase drilling program. An initial minimum of 8,000 meters of reverse circulation (RC) drilling is planned with the goal of defining subsurface gold mineralization and achieving a defined gold resource at both projects.
Roger Newell, president of Lake Victoria said: “It is very pleasing that Lake Victoria’s exploration programs have successfully defined drill targets at two important gold projects and this drilling program represents a significant milestone in the Company’s development. We look forward to providing the results as they become available.”
About the Company
Lake Victoria Mining Company, Inc. is working to create another gold mine in the world famous Lake Victoria Greenstone Belt, Tanzania, East Africa. Tanzania produced 1.75 million troy ounces of gold during 2007 and is the 3rd largest gold producer in Africa behind South Africa and Ghana. Lake Victoria Mining Company, Inc. currently holds both gold and uranium exploration licenses in Tanzania. Additional information regarding the Company is available on the corporate website at: www.lakevictoriaminingcompany.com or by contacting:
Lake Victoria Mining Company, Inc.
Dr. Roger A. Newell
Phone: 303 -586-1390
Email: info@lvcamining.com
Disclaimer
This news release may contain forward looking statements, relating to the Company’s operations or the environment in which it operates, which are based on Lake Victoria Mining Company, Inc.’s operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or beyond Lake Victoria Mining Company, Inc.’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place undue reliance on such forward-looking statements. Lake Victoria Mining Company, Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.