Lake Victoria Gold Ltd. has revealed a significant initial mineral resource estimate for its wholly-owned Tembo Gold Project in northwestern Tanzania. This estimate, compliant with National Instrument 43-101 (NI 43-101) standards, outlines nearly 580,000 ounces of gold across three distinct deposits. This substantial discovery marks a pivotal moment for the company, providing a second defined development asset to complement its already permitted Imwelo project.

The core of this resource is concentrated within the Ngula 1, Nyakagwe Village, and Nyakagwe East deposits, all situated on four granted mining licenses spanning approximately 34 square kilometers within the prolific Lake Victoria Goldfield. Ngula 1 stands out as the most advanced target, contributing roughly 331,000 ounces, or about 57% of the project's total resource. The company plans a 5,000-meter infill drilling program at Ngula 1 to enhance geological confidence and facilitate future mine planning. Furthermore, Lake Victoria Gold is actively pursuing a toll-milling agreement with Nyati Resources (T) Limited for a proposed 500-tonne-per-day processing plant on a Tembo mining license, aiming to provide a processing solution for near-surface material from Ngula 1.

Looking ahead, Lake Victoria Gold intends to finalize its close-spaced drilling program at Ngula 1, integrate the new data into updated geological models, and advance studies crucial for future mine planning. The company also prioritizes additional drilling across several other exploration targets throughout the property. This maiden resource estimate, prepared by independent Qualified Persons from Obsidian Consulting Services, underscores the promising potential of the Tembo Project within one of Africa's most recognized gold districts.

The successful delineation of such a significant gold resource at the Tembo project highlights the immense potential that diligent exploration and strategic development can unlock. This achievement not only fortifies Lake Victoria Gold's position in the global mining sector but also inspires confidence in the future of sustainable resource extraction, contributing to economic growth and technological advancement in the region.