Lake Victoria Mining Company

May 27 (Bloomberg) — Harbinger Capital Partners LLC, the U.S. hedge-fund firm run by billionaire Philip Falcone, plans to boost investment in African resources as commodity companies compete for some of the world’s biggest mineral deposits.

“Africa is the last untapped resource frontier left on earth,” Harbinger Managing Director Lawrence Clark said in a telephone interview. “Over time we’re going to work towards making more investments, but we’re only going to do so with great caution.”

Companies from South America, Europe and Asia have been drawn to Africa by its mineral riches, including the world’s biggest deposits of platinum, chrome and diamonds. Capital flows into the continent rose 16 percent in 2008 to a record $62 billion, even as foreign direct investment around the world fell 20 percent, according to the World Economic Forum.

Harbinger, which has about $10 billion in assets under management, holds three investments in Africa, Clark said. The company owns a 22 percent stake in Sable Mining Africa Ltd. and 45 percent of African Medical Investments Plc, both run by Andrew Groves and Philippe Edmonds. It also has an interest in iron-ore explorer African Minerals Ltd.

Investing in Africa isn’t without its risks. Copper miner First Quantum Minerals Ltd. said a license for one of its mines in the Democratic Republic of Congo was reassigned to another party on May 25. African Consolidated Resources Plc has been in dispute with Zimbabwean authorities over the cancellation of its permit to mine gems in the Marange diamond fields since 2006, while Rio Tinto Group has been stripped of assets in Guinea.

Commit Funds

Clark said he’s conducted due diligence in 15 African countries over the past nine months for prospective Harbinger ventures and will only commit funds to projects he has visited himself.

“The dollar value of our African investments, to date, has been very small as an overall percentage of our portfolio,” Clark said. “We’re doing a hell of a lot of work on small dollars right now to get comfortable that we’re making the right investments.”

Harbinger’s planned expansion in Africa follows Vale SA’s $2.5 billion purchase agreement in April for iron-ore deposits in Guinea. A month earlier, Singapore’s state-owned investment company Temasek Holdings Pte, which manages about $122 billion, said it’s seeking mining ventures on the continent.

Among Harbinger’s Africa investments, Sable holds coal and uranium deposits in South Africa and Botswana and plans to buy iron ore assets, while African Medical runs hospitals. African Minerals agreed last month to sell a 12.5 percent stake to China Railway Materials Commercial Corp. to help fund its Tonkolili iron-ore project in Sierra Leone.

Harbinger, based in New York, counts stakes in Cliffs Natural Resources Inc. and EXCO Resources Inc. among its top 10 holdings. Last month it sold A$150 million ($124 million) of stock in Fortescue Metals Group Ltd., Australia’s third-largest iron-ore exporter.

To contact the reporter on this story: Thomas Biesheuvel in London tbiesheuvel@bloomberg.net

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Lake Victoria Schedules Another Live Conference Call: – The Company’s Strategic Plans and Focus Discussed With President, Dr. Roger Newell Ph.d and Clive King, Senior Geological Consultant. Answers to the following questions and more discussed:

Where is the Company’s focus? Is the Company focused solely on the Singida-Londoni gold project or is there other significant resource potential within Lake Victoria’s property portfolio?

Does the company’s management have what it takes to lead the company to financial success?

How soon does the company expect to have a gold reserve?

What can shareholders look forward to over the next 12 months?

Golden, Colorado May 25, 2010 (LVCA:OTCBB) – Lake Victoria once again invites the first 300 callers to join the company’s President, Dr. Roger Newell and Clive King, Senior Geological Consultant, Wednesday morning at 11:00 AM EST, to hear the company’s strategic plans and focus for the next 3 months, 6 months and one year.

Answers to the following questions and more will be discussed:

Where is the Company’s focus? Is the Company focused solely on the Singida-Londoni gold project or is there other significant resource potential within Lake Victoria’s property portfolio?

Does the company’s management have what it takes to lead the company to financial success?

How soon does the company expect to have a gold reserve?

What can shareholders look forward to over the next 12 months?

Join us live today Wednesday, May 26, 2010 at 11:00 AM EST by calling:

1-213-289-0500 Room: 731733#

Golden, Colorado May 25, 2010 (LVCA:OTCBB) – Lake Victoria invites the first 96 callers to join the company’s President, Dr. Roger Newell and Clive King, Senior Geological Consultant, today live, to hear the company’s strategic plans and focus for the next 3 months, 6 months and one year.

Answers to the following questions and more will be discussed:

Where is the Company’s focus? Is the Company focused solely on the Singida-Londoni gold project or is there other potential within Lake Victoria’s property portfolio?

Does the company’s management have what it takes to lead the company to financial success?

How soon does the company expect to have a gold reserve?

What can shareholders look forward to over the next 12 months?

Join us live today Tuesday, May 25, 2010 at 4:05 PM EST by calling:

1-218-336-3900 Room: 767741#

Golden, Colorado May 25, 2010 (LVCA:OTCBB) – In preparation for drill targeting and the mobilization of a drill rig to Singida-Londoni Gold Project, detailed exploration work will begin shortly. This will maximize any dollars that may soon be spent on planning and implementation of an initial drill program on a pathway to a proven resource or gold production. Lake Victoria wishes to elaborate on the exploration works required at their Singida-Londoni project in central Tanzania.

At Singida-Londoni gold project, artisanal mining has been focused on a number of outcropping narrow gold-bearing quartz veins that strike for a length of +7km within a major northwest-southeast shear belt. These veins occur as boudins forming “pinch and swell” structures along strike within the shear zone. The shear zone has an average width of 1.4km. Electrical gradient array IP surveys (News Release 17 May 2010) indicated that a number of subsurface resistive bodies, thought to represent quartz veins, occur beneath the land surface covering some 400m width of the shear zone and as such would not have been identified by the artisanal miners. In such greenstone belts, the gold bearing quartz veins often occur as en echelon “packages” or “ladder vein sets” that may be formed within or discordant to the shear fabric. These sets often exhibit plunges or “ore shoots” and needed to be accounted for in creating the geological model and incorporated within any subsequent drill program.

In order to understand the overall distribution of subsurface gold bearing quartz veins, a soil sampling program has been designed on 400m spaced north-south sections with a sample interval of 50m to define the concentration of gold in the overlying soils. Sampling is to commence in the northwest corner of the licence in early June 2010, where a number of small scale mining licences (PMLs) are currently under exclusive option to LVCA, and continue across to the southeast corner of the project. A total of 700 samples will be initially collected and assayed for gold by Aqua Regia Digest Solvent Extraction at the SGS Laboratory in Mwanza.

The sampling program, consisting of 14 traverses amounting to 33.8 line-km, is expected to be completed by the end of the 2^nd to 3^rd week of June. However, samples will be submitted to the laboratory on a weekly basis and results should start to be made available by mid-June. Results are expected to indicate the presence of a number of gold-in-soil anomalies which would suggest the existence of subsurface gold bearing quartz veins and which in turn may be found to correlate with the IP anomalies. Once all the results of the program have been received, the geochemical data can be reviewed in its entirety and the implementation of the follow-up infill soil sampling can immediately begin across selected areas of the project. Currently this is planned on a 200m spaced section across the gold anomalies with the aim of further defining the concentration of gold anomalism. An additional 150 samples are expected to complete this phase of soil sampling by the end of June with results being available towards mid-July.

Mapping of the regolith, topography and soils form an integral part of the program in order to later understand the value of the soil result.

During the 1^st phase of regional soil sampling, detailed mapping and channel sampling of the sidewalls of some of the artisanal pits will be undertaken in an attempt to understand the nature and structural controls of the gold bearing quartz veins. This will be further assisted by undertaking a number of short trenches of 1m wide by +10m in length, especially along strike from the mined quartz veins to determine the extend or “halo” of gold mineralization within the sheared rocks.

Once an assessment of the results of the soil geochemical sampling program has been made, trenching would be undertaken across the “eyes” of the anomalies along the north-south sections in order to further define the nature and cause of the soil anomaly as well as provide an in situ surface value of gold concentration. A total of 500 meters of trenching has been budgeted to fulfil this phase of exploration and will take 1 to 2 weeks to complete. The information, derived from detailed mapping of the trench walls, will provide invaluable insights into the geology and structure that host the gold mineralization, and in turn will contribute to the building of the geological model.

Depending upon the thickness of the overlying soils, trench depths will vary between 1 to 3m and may be up to 50 to 100m in length, especially if the results of infill soil sampling reflect a wide surface anomaly. Where saprolite is present beneath the soil or laterite cover, trench depths will commonly extend to 3m.

Although the in-situ rocks are often decomposed within the saprolite horizon, the structural imprint is often well preserved and is measurable. Horizontal channel samples of 2m will be collected along the sidewall just above the base of the trench and submitted for Fire Assay analysis at SGS Laboratory, Mwanza.

All these work results could later be incorporated into an ore resource calculation should it be found from subsequent drilling that a resource is present, with the aim of establishing an initial inferred resource that would be acceptable within the guidelines of the CIM 43-101 reporting practises.

Positive drill results will represent an important milestone for Lake Victoria on the path towards a proven resource or gold production.

As of May 21, 2010, Lake Victoria Mining Company, Inc has a total of 68,500,575 shares issued and outstanding. We estimate the public float to be approximately 5,700,000 shares with an average share price of $0.65 or more.

Source: Marin Katusa, Casey’s Energy Opportunities 05/18/2010

Earlier this year, the Obama administration announced large new federal loan guarantees for the nuclear energy industry—totaling about $54 billion, or more than triple the current level of funding. Philosophically, we abhor government subsidies to any industry, but we also recognize that they’re a fact of life these days, with an inordinate influence on markets. So even though we’d prefer the government didn’t pick industry winners and losers, we must be mindful of what Washington is doing if we expect to reap profits as investors.

In this instance, the ramping up of government support means boom times are coming for the nuclear energy industry, which is about to awaken from a three-decade long sleep. And if you correctly position your energy investment portfolio, you can benefit from a comeback that’s baked in the cake.

Power is all about the numbers. Consider the illustration below, which shows how current electricity generation technologies stack up when it comes to producing energy (cost is in dollars per megawatt hour). Solar and wind generators are not cheap and don’t work when it’s dark or calm. They’re competitive only with heavy government subsidies and even then, will never contribute much juice to the grid.

Source: EIA; adapted from Investing Daily.

Hydro, biomass and geothermal fare much better, easily competing with more traditional technologies, and there are good investment opportunities among them that we’re following. But again, in the larger picture they’re minor players.

In terms of bang for the buck, it still comes down to coal, gas and nuclear; and Washington realizes we’re going to need all three to meet our future energy needs, especially as electric vehicles begin to replace those that run on gasoline.

The Obama administration is all for going as “green” as possible, but realizes that wind and solar are not going to cut it. Thus, after thirty years in the doghouse, the nuclear option has regained the respectability in America that it enjoys among nations such as China, where ten new plants per year are proposed (our last new construction project broke ground in 1977).

Despite lingering doubts among those who remember Three Mile Island, uranium has been dusted off and presented to the public as a safe, environmentally friendly, cost-effective source of power. And the new generation of plants is all of those things, compared with the dinosaurs of the 1970s.

Even bureaucrats can understand that. Thus there’s been a major policy shift in D.C., and a powerful new trend has been set in motion. That’s clear. But how to profit from it?

First off, companies that build new nuclear power plants will see an uptick in demand for their services. The problem there is that companies operating in this sector are huge conglomerates with diverse business lines. So an increase in revenues from the unit that constructs nuclear power plants could easily be offset by a corporate decline elsewhere that has nothing to do with nuclear energy.

Investing in conglomerates generally means an expectation of modest gains. That may be sufficient for some investors, but not for us as speculators. We prefer to look for opportunities to double our investment, or better, letting us put less money at risk for potentially greater returns. So, we want exposure to companies that will benefit from this new policy in a bigger way, those that are more of a pure play. For one, that means uranium producers. An increase in the number of nuclear power plants will drive higher demand for the mineral, bullish both for those who pull it from the ground and those who reprocess spent fuel. The price of uranium is not going to skyrocket overnight. What with regulatory hurdles and long lead times, new construction in the U.S. will take a while. But permits will be issued, and in the interim, everyone else is forging ahead, with some 60 plants currently going up worldwide. Demand will steadily increase. On the supply side, keep in mind that the U.S. and Russian governments have their own strategic nuclear fuel reserves, in the form of nuclear warheads. At present, half of all U.S. nuclear electricity comes from reprocessed fuel from Russian bombs, through the “Megatons to Megawatts” agreement. That has acted as a ceiling on the price of uranium in recent years. However, in 2013, Megatons to Megawatts will end, and American utilities will have to secure fuel through alternative means. A few enterprising Western utilities see the writing on the wall and have been proactively securing their cheap supply of uranium through long-term contracts. But the rest will be forced to pay more on the open market, squeezing their already razor-thin margins. The utilities whose management had the foresight to lock in their supply at good prices will have an edge over their competitors that will be reflected in their stock price. The miners are looking good, as well. If you add demand growth to the termination of the Russian pipeline, you get steadily rising prices for their product. And that will translate into fattening bottom lines. As an investor, you’ll want your money in the savviest utilities, along with select uranium mining companies that are poised to prosper. Then you’ll be on your way to profiting handsomely.

May 17, 2010 11:32 AM EDT

DUBLIN–(BUSINESS WIRE)– Research and Markets (http://www.researchandmarkets.com/research/df2221/tanzania_mining_re) has announced the addition of the “Tanzania Mining Report Q2 2010” report to their offering.

The Tanzania Mining Report provides industry professionals and strategists, corporate analysts, mining associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Tanzania’s mining industry.

Barrick To Spin Off Tanzanian Operations In February 2010, Barrick announced plans to spin off its Tanzanian operations into a separate company, African Barrick Gold (ABG). A 25% stake in ABG will then be listed via an IPO in London, with a possible secondary listing in Dar-es-Salaam at a later stage. Barrick will hold the remainder of the company’s equity. The IPO is expected to raise some US$1bn, which Barrick will use to fund new projects.

ABG’s key assets are four mines in north west Tanzania, which together produced some 716,000oz in 2009, accounting for just under 10% of Barrick’s total gold output in that year. In 2009, Barrick’s African operations made EBITDA of US$249.5mn on revenues of US$693.4mn, according to the Financial Times. The Tanzanian government has already indicated that it may purchase shares in ABG and has also indicated that Tanzanian nationals may be eligible to participate in the IPO, according to local media reports.

New Data For 2010, BMI has made significant changes to the way in which we forecast mining data. As well as using local statistics agencies and associations, we now also use the UN’s Industrial Commodity Statistics Database, the US Geological Survey and the World Bureau of Metal Statistics for our historical export and production data. We then forecast from this data using our own proprietary econometric model. Human intervention also plays a necessary and desirable role in our mining forecasts, with experience, expertise and knowledge of industry trends and developments ensuring that we can spot likely future changes and anomalous data that a purely mechanical model would not.

Country Overview The Tanzanian mining industry is relatively small in terms of value, but its importance is highlighted by the fact that mining earns a substantially significant share of the export revenues for the country. The mining sector contributes approximately 2.3% to annual GDP but the government wishes to expand this to 10% by 2025.

Traditionally, gold and diamond production has been the mainstay of mining production for the country. It is the fourth largest gold producer in Africa, behind South Africa, Ghana and Mali, and ranks among the top producers of diamonds in the world. Another metal that has been catching the spotlight is uranium, with a significant number of deposits being identified in Tanzania. Coloured gemstones are also mined extensively in the country.

Industry Forecast Tanzania’s mineral industry, particularly gold mining, is likely to grow in the near future, with increased production from the North Mara mine and the development of projects such as Buckreef and Tulawaka. Coal and uranium prospecting is also continuing around the country, with a high likelihood of some of these projects becoming productive over the coming years. As a result, we forecast steady growth for the Tanzanian mining sector as a proportion of GDP over the next five years, with risks to the upside if new projects come onstream on schedule.

Golden, Colorado May 19, 2010 (LVCA:OTCBB) - The aim of the current exploration program is to determine the potential for undiscovered, subsurface gold vein sets within the sheared package of metavolcanic rocks proximal to the known gold veins, at Singida Gold Project in order to determine an economic resource prior to drill planning.

This Preliminary exploration work is a necessity prior to the Company advancing the project towards a drilling program. The ground work is to be focused on:

·         obtaining a better understanding of the geology, the structural complexity and the distribution of  the known gold bearing quartz veins within the shear  zone, and 

·         to highlight areas of increased gold anomalism through soil sampling.

This approach is aimed at optimising gold targets in order that a cost efficient and systematic drill programme can be planned.

Previously completed and announced ground magnetic and IP surveys undertaken by Lake Victoria Resources have greatly assisted in defining some of the geological and structural features in the area.
 
Artisanal mining at Singida-Londoni has been focused on a number of narrow gold-rich quartz veins that are located within a major NW-SE trending shear zone. These veins “pinch and swell” along strike within the shear zone for a distance of some 7km. Some of the exposed veins on the Singida-Londoni licenses held by Lake Victoria Mining Company, that cover a strike length of 4.8 km, have been mined by artisanal miners in their upper parts to depths of about 50m. In the northwestern part of the shear structure, approximately 6 km from the Singida-Londoni licenses, Shanta Gold Ltd has announced a resource of 1,031,926 oz of gold at a grade of 1.46 g/t on their Singida License.

The Singida-Londoni Pre- Drill Exploration program will include:
Phase 1:

• soil sampling on 400m x 50m grid with selected infill sampling, across the shear zone
• wall rock sampling of existing pits and artisanal workings in order to  determine the gold values within  the sheared sidewall rocks adjacent to the gold bearing quartz veins
• trenching across the strike of the quartz veins within undisturbed ground between areas of previous artisanal working  to test the extent of the mineralization along strike.
• detailed geological and structural mapping of surface outcrop, trench and pit exposures

Phase 2

• Follow-up trenching/pitting on any coherent soil anomalies.
• Interim results will be reported as they become available.
• Upon confirmation of the existence of undiscovered, subsurface gold bearing quartz veins, a follow-up drilling program will be planned and initiated.

During Phase 1 and 2, the planning of exploration programs on prioritized targets within the license portfolio of Lake Victoria Mining Company will commence and be on-going.

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 holds eleven 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.

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.