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Lake Victoria Completes Initial Core Drilling At Uyowa Gold Project And Begins Drilling At Kiabakari East Gold Project Tanzania, East Africa

Lake Victoria Mining Company, Inc. (“Lake Victoria” or the “Company”) (LVCA:OTCBB) is pleased to announce completion of an 11 hole core drilling program totaling 1,459 meters at its 100% owned Uyowa Gold Project in northwestern Tanzania. Assays are pending and will be reported when available and confirmed.

Uyowa Drilling

Uyowa core drilling was focused along the central to western part of the east-west trending 1,700 meter long mineralized zone. In August 2011, ( Refer to Press Release 27 October 2011) geologic mapping, geophysical surveying and reverse circulation drilling identified 4 mineralized veins. These veins have increased widths and elevated gold grades over a strike length of about 300 meters. The current core holes indicate gold mineralization lies within a number of semi-continuous, ductile shear zones that are up to 7 meters wide. These shear zones contain disseminated pyrite, dip to the north between 55 and 70 degrees, have been traced to 100 meters below surface and appear to continue at depth.

Single diamond drill holes were drilled at each end of the known mineralized zone, and these two drill holes confirm the presence of the mineralized shear zone and suggest its extension further along strike both to the east and to the west.

Samples from the core holes have been geologically logged, split, sampled and submitted to the SGS Laboratories in Mwanza for 50 gram fire assays. Strict quality control was maintained with 5% of each sample batch having a blank, a duplicate and a commercial standard inserted as part of the sample stream.

Uyowa Soil Sampling

Soil samples were collected from lateritic soils both east of and west of the main Uyowa artisanal mine site. The soil samples were collected on north-south lines spaced 200 meters apart and at 50 meter spacing on the sample lines. Initial results indicate that single point anomalies between 10 and 400 ppb gold lie along extensions to the known mineralized trend for a further 3.2 kilometers to the east and 5.3 kilometers to the west. These results suggest the known length of the overall anomalous gold trend is approximately 10 kilometers.

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