On October 20, 2025, Lake Victoria Gold Ltd. (“LVG” or the “Company”) announced the closing of its non-brokered “listed issuer financing exemption” (LIFE) private placement (the “LIFE Offering”) and concurrent non-LIFE private placement (the “Concurrent Offering” together with the LIFE Offering, the “Offering”) for aggregate gross proceeds of $8,000,000, through the issuance of:

• 34,285,715 units (each, a “Unit”) at a price of $0.175 per Unit, for aggregate gross proceeds of $6,000,000 in the LIFE Offering. Each Unit is comprised of one common share of the Company (a “Unit Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one additional common share of the Company at an exercise price of $0.27 per share for a period of three years following the date of issuance of the Warrant.
• 11,428,571 common shares at a price of $0.175 per share, for aggregate gross proceeds of $2,000,000 in the Concurrent Offering.

Subject to compliance with applicable regulatory requirements, the LIFE Offering was conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”) and in reliance on the Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities issued to purchasers in the LIFE Offering are not subject to a hold period under applicable Canadian securities laws.

LVG is a rapidly growing gold exploration and development company listed on the TSX Venture Exchange. Leveraging our unique position and experience, the Company is principally focused on growth and consolidation in the highly prolific and prospective Lake Victoria Goldfield in Tanzania.

Further details regarding LVG, and the Offering can be found on LVG’s website. LVG trades under the symbol “LVG” on the TSX Venture Exchange.