Lake Victoria Gold Announces Additional Drill Results at Imwelo, Extending Mineralization Below and to the East and West of the Current Pit Design

Executive Summary

• Lake Victoria Gold announced assay results from nine additional drill holes (IMWDR003, 011, 012, 013, 017) that extend the primary mineralized zone both down‑dip (>250 m depth) and laterally east and west beyond the current pit design at Imwelo.
• Several high‑grade intercepts were reported, including 32.84 g/t Au over 0.30 m (IMWDR017) and 21.65 g/t Au over 0.96 m (IMWDR013), confirming the potential for resource conversion (Inferred → Indicated/Measured) and open‑pit shell expansion.
• The drill program is now 16 of 24 holes completed, providing new geotechnical, metallurgical and structural data to support final pit design, grade‑control planning, and evaluation of underground mining optionality.

Key Details

• Hole IMWDR003: 3.56 g/t Au over 1.21 m from 83.04 m (incl. 7.16 g/t Au over 0.41 m).
• Hole IMWDR011: 8.55 g/t Au over 1.30 m from 93.34 m; includes 20.77 g/t Au over 0.31 m.
• Hole IMWDR012: 2.49 g/t Au over 2.56 m from 79.20 m – confirms mineralization beyond the eastern pit margin.
• Hole IMWDR013: 9.31 g/t Au over 2.45 m from 130.00 m; includes 21.65 g/t Au over 0.96 m.
• Hole IMWDR017: 11.19 g/t Au over 0.90 m from 91.8 m; includes 32.84 g/t Au over 0.30 m and 2.97 g/t Au over 3.01 m from 100.52 m.
• Depth Extension: Mineralization now demonstrated to >250 m vertical depth (historical limit ~200 m). Average hole depth ≈120 m, more than double prior drilling depths (~50 m).
• Lateral Expansion: New intercepts east of the pit (IMWDR012) and west of the NNE‑trending structure (IMWDR013, 017) open additional zones for potential resource growth.
• Footwall/Hanging‑Wall Zones: Intercepts outside primary lode suggest internal ounces can be added within current design envelope.
• Resource Conversion Potential: Grades/widths mirror historic resource holes, supporting Inferred‑to‑Indicated upgrades and possible increase in Measured resources.
• Underground Optionality: Down‑dip continuity supports evaluation of a future underground development beneath the shallow open pit.
• Program Status: 16 of 24 planned drill holes completed; assays received from MSA Laboratory (Geita). Remaining assays pending and will be released as available.
• Technical QA/QC: Internal blanks, CRM & duplicates every 20th sample; all lab results passed QA/QC.

Notable Quotes

“These results continue to validate our thesis for Imwelo… each new drill hole advances us toward a more robust development plan and reinforces the opportunity we see for Imwelo to become a scalable gold operation.” – Marc Cernovitch, President & CEO

“The geology is confirming our interpretations… the down‑dip potential below 250 m and the continuation of mineralisation west and east of the current pit designs is particularly encouraging.” – Hendrick Mering, Exploration Manager