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Lake Victoria Receives Environmental Impact Assessment Approval For Kunanga Medium Scale Gold Mine, Tanzania, East Africa

Stocks in this article: LVCA

(LVCA:OTCBB) Lake Victoria Mining Company Inc. is pleased to announce that on January 7 th, 2014 Mr. Ahmed Magoma, on behalf of the Company, officially received the Environmental Impact Assessment (EIA) Certificate of approval from the National Environment Management Council (NEMC) of Tanzania, for Lake Victoria’s planned Kunanga Medium Scale Gold Mine that is within the Company’s Kinyambwiga Gold project, in northern Tanzania.

The Environmental and Social Impact Assessment Final Report, prepared for the Company by a Tanzanian environmental consulting firm, was submitted to NEMC on the 2nd of August 2013 (Refer Press Release: 5 August 2013). The EIA certificate of approval, registration number 2247 EC/EIS/1106 is issued under the Environmental Management Act No.20 of 2004, and was signed by the Tanzanian Minister of Environment on the 23rd December 2013. The EIA Certificate is valid during the entire life cycle of the project based on the Company’s compliance with the General and Specific Conditions of its issuance.

The Company is currently completing the Mining Application that is expected to be submitted to the Tanzania Ministry of Energy and Minerals very shortly. The Mining application will not only cover the Kunanga site, but will also encompass 39 Primary Mining Licenses (PMLs) currently held by the Company’s Tanzanian subsidiary. The area, totaling 3.44 square kilometers also includes two other known gold occurrences at Kunanga 2 and 3.

David Kalenuik, President and CEO of Lake Victory says “We are extremely excited with receiving approval from NEMC allowing us to proceed to the next step of applying for our Mining License. This will be the final step of Government approval that, once granted, will allow us to move the Kinyambwiga Gold Project forward into an active open pit mining project. We have assembled key personnel for a team to construct and operate the mine, and have identified our needs for equipment and supplies. A test dig in February of 2013 confirmed our initial equipment needs. We would expect to move quickly once the Mining License is issued. I thank everyone who has worked throughout the years on Kinyambwiga, and especially our technical team and talent in North America and Africa that worked to complete this detailed and rigorous Environmental and Social Impact Statement, along with the necessary follow up. We look forward to breaking ground on mine construction soon after the final license is received and to the potential of pouring our first gold during 2014.”

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