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Lake Victoria Completes 9,023 Meter Phase 2 Drill Program

Lake Victoria Mining Company, Inc. (OTCBB:LVCA)(the “Company”) announces the successful completion of the second round of Reverse Circulation drilling at its Singida gold project in Tanzania.

Infill drilling was undertaken on 40 meter spaced drill fences across the four artisanal mining sites at Sambaru 2 through to Sambaru 5 in order to better define the grade and continuity of the gold mineralization previously delineated during Phase 1 drilling that was completed in October, 2010.

A total of 9,023 meters of reverse circulation drilling, amounting to 93 boreholes have been drilled at both the artisanal mine sites as well as exploring a number of soil anomalies within the Singida northwest trending shear zone (see Press Release 10 th March 2011). All boreholes, collared along northeast trending drill fences, are inclined at -50 degrees to -65 degrees either to the northeast or to the southwest.

Notable results included 42.71g/t Au over 2 meters; 7.35g/t Au over 4 meters; 5.45g/t Au over 8 meter; 4.27g/t Au over 5 meters, 6.22g/t Au over 3 meters, 5.05g/t Au over 3 meters, 2.64g/t Au over 46 meters and 1.05g/t Au over 18 meters . A number of higher grade zones are included in these intervals and are listed in Table 1. A tabulation of the new results will be posted on the Lake Victoria corporate website.

Two of the three exploration targets were investigated by drilling. The 2 nd zone of mineralization located some 180 meters south of the main mineralized zone at Sambaru 5 was intersected but was found to be narrow and of low grade running 1.04 g/t gold over 1 meter. Similarly, the +100 ppb gold soil anomaly located mid-way between Sambaru 3 and 4 returned anomalous results with only one narrow intersection of 1.57 g/t gold over 1 meter being encountered. No follow-up drilling was undertaken on either of the two targets.

Table 1. Summary of Reverse Circulation Drill Results from Sambaru 2, 3, 4 and 5

Hole No.   Total Depth (m)   Section   Azimuth (deg)   Decline (deg)   From (m)   To (m)   Interval (m)   Grade (Au g/t)
Sambaru 5                
SGRC0080 40 4680W 40 -50 32 35 3 5.05
SGRC0084 40 4600W 40 -50 29 35 6 1.13
SGRC0085 60 4560W 40 -50 11 15 4 1.87
Sambaru 4                
SGRC0097 70 3840W 40 -50 50 54 4 7.35
        (including 1m @20.30 g/t Au)
SGRC0100 75 3920W 220 -50 59 64 5 2.35
SGRC0103 75 3880W 220 -55 79 82 3 6.22
        (including 1m @12.10 g/t Au)
SGRC0107 90 3960W 220 -55 37 40 3 1.30
SGRC0108 125 3960W 220 -60 69 72 3 2.46
SGRC0115 55 3720W 220 -50 1 5 4 1.11
Sambaru 3                
SGRC0122 120 2540W 220 -50 43 47 4 1.14
        and 144 149 5 2.96
        (including 1m @11.00 g/t Au)
SGRC0125 90 2500W 40 -58 14 60 46 2.64
        (including 3m @9.75 g/t Au)
        and 71 74 3 4.32
SGRC0128 90 2460W 220 -65 18 19 1 34.10
SGRC0130 136 2500W 220 -55 112 115 3 3.32
SGRC0135 120 2620W 220 -50 25 30 5 1.17
        and 86 91 5 4.27
Sambaru 2                
SGRC0137 50 1980W 40 -50 0 6 6 1.04
SGRC0140 115 1980W 40 -55 111 115 4 3.63
        and 134 145 11 3.21
        (including 1m @11.90 g/t Au)
SGRC0145 140 2660W 220 -60 117 120 3 3.02
SGRC0149 72 1900W 40 -50 45 50 5 1.31
SGRC0152 93 2100W 40 -55 61 65 4 2.01
SGRC0157 110 2180W 40 -65 28 30 2 3.16
        and 67 80 13 1.99
        (including 2 m@ 6.11g/t Au)
SGRC0160 128 2420W 220 -55 82 88 6 1.94
SGRC0163 150 2620W 220 -60 75 93 18 1.05
SGRC0166 125 2700W 220 -50 73 87 14 2.15
        (including 1m@10.70g/t Au)
SGRC0169 150 2060W 40 -60 63 65 2 42.71
        (including 1m@84.40g/t Au)
SGRC0170 120 1860W 0 -90 75 83 8 3.45

Sambaru 5

Drilling has intercepted the narrow and steeply-dipping, arsenopyrite-rich gold zone across a strike length of some 160 meters. Besides the high grade intersection of 16.80 g/t gold over 2 meters reported from Section 4640W during the Phase 1 drilling programme, most of the intercepts returned low gold values of between 0.5 to 1 g/t gold over 1 or 2 meter intervals with grade appearing to decrease with depth.

Sambaru 4

The main body of mineralization, having a grade of 3.45 g/t gold over a true thickness of 11 meters and centered over an area of extensive artisanal mining, was traced to a depth of 80 meters before pinching out. The zone, narrowing rapidly out along strike and decreasing in grade, has been traced for 320 meters. Drilling indicated a decrease in grade and width of the mineral zone at depth. A subsidiary, narrow mineralized lens, located 50 meters to the north-east of the main lens was traced along a strike for 80 meters. Anomalous grades defined the zone further to the northwest.

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