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Lake Victoria Reports Additional Gold Assays And Follow-up Exploration Activity At Uyowa Project, Tanzania

Lake Victoria Mining Company, Inc. (OTCBB: LVCA) is pleased to report additional gold assays from the final stages of the recent reverse circulation drilling program at the Uyowa Prospect. Intercepts include 4.11 g/t gold over 1 meter, 1.86 g/t gold over 2 meters and 1.11 g/t gold over 7 meters.

The next phase of exploration will include additional infill and step-out drilling along with geological mapping and electrical geophysical surveying to further define and extend targets beneath shallow laterite soil cover. Drill results to date indicate gold is wide spread, near surface and that the Uyowa Prospect may be amenable to open pit mining; additional drilling is required to validate this possibility.

A total of 2,470 meters of reverse circulation drilling was undertaken across the site of artisanal workings in the northern block of the Uyowa Prospecting License during September and October. Initial results previously announced (News Release October 27 th , 2011) ranged from 4.1 g/t gold over 10 meters to 103 g/t over 1 meter. Drilling was aimed at testing the strike extensions of the known mineralized gold zone beneath the area of intensive artisanal activity as well as to test a number of geophysical targets that have been defined from the recent ground magnetometer and IP Schlumberger surveys. Dr. Roger Newell, Chairman of Lake Victoria said “It is early days at Uyowa, but these results are very positive and point the way towards advancing open pit status of the project.”

Drilling successfully delineated a number of narrow zones of gold mineralization along a strike length of 1300 meters. The drill program was extended as far west as the current artisanal workings where at least two narrow gold lenses have been identified having grades of between 0.50 g/t gold to 1.4 g/t gold.

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