On February 28, 2025, Lake Victoria Gold Ltd. (“Lake Victoria”) completed the acquisition (the “Acquisition”) of the Imwelo gold project located in Tanzania (the “Imwelo Project”) through Lake Victoria’s wholly-owned subsidiary Tembo Gold Tanzania Limited (the “Purchaser”). Pursuant to the terms of the licence purchase agreement dated August 9, 2023, as amended, among Lake Victoria, the Purchaser, Lake Victoria Gold Limited (the “Vendor”), and the Vendor’s subsidiary Tanzoz Mineral Limited, the Purchaser acquired a 100% interest in the Imwelo Project in consideration for CAD$5,500,000 consisting in the issuance of 24,064,723 common shares in the capital of Lake Victoria (each, a “Share”) to the Vendor at a deemed issue price of CAD$0.22 per Share and US$148,148 cash.

Concurrently with the completion of the Acquisition, Lake Victoria closed its non-brokered private placement of 16,000,000 Shares with a related entity of Taifa Mining and Civils Limited, at a price of CAD$0.22 per Share for gross proceeds to Lake Victoria of CAD$3,520,000.

Lake Victoria is a gold exploration and development company principally focused on growth and consolidation in the Lake Victoria Goldfield in Tanzania.

Further details regarding Lake Victoria and the Imwelo Project can be found on Lake Victoria’s website. Lake Victoria trades under the symbol “LVG” on the TSX Venture Exchange.