LAKE VICTORIA GOLD IDENTIFIES PREFERRED PROCESSING ROUTE FOR IMWELO NEAR-SURFACE MINERALIZATION

Lake Victoria Gold Ltd. (LVG) has identified attrition scrubbing followed by desliming as the preferred pretreatment route for clay-rich, near-surface mineralization at Area C of its Imwelo Gold Project. The company conducted testing on 38 HQ whole-core samples, totaling 120.34 kg with a calculated head grade of 3.80 g/t Au.

Pretreatment significantly improved gold extraction metrics. A 24-hour agitated leach recovery increased from 49.99% for as-received material to 84.54%, while bottle-roll testing reached 88.15%. CIL testing on the pretreated material achieved 85.02% recovery at 25 g/L carbon. Gravity recovery also improved, rising from 12.78% to 21.25%, with approximately 26% of the gold reporting to the +300 µm size fraction.

Operational efficiency in slurry handling was also enhanced. Settling time decreased from 220 to 130 seconds, and bed compaction increased. These results follow strong near-surface drill results from August 2026, including an intercept of 2.75m at 28.71 g/t Au. The next phase of work involves establishing mass and gold balance across the desliming circuit.

Lake Victoria Gold Ltd. (LVG) has identified a clear engineering solution to treat the clay-rich oxide material anticipated in the initial mining sequence at Area C. By resolving this metallurgical challenge, the company has de-risked the process plant design and flowsheet for the near-term production phase.

The improvement in recovery rates, rising from approximately 50% to 85%, materially supports the economic viability of the initial pit. This performance aligns with the company's previously stated recovery targets of 96-97% for deeper and fresher material. This development represents an expected, incremental step in the engineering and construction readiness pipeline, introducing no new financial terms or changes to the project's fundamental status.

Lake Victoria Gold Ltd. (LVG) is a Canadian junior mining company focused on the Lake Victoria Goldfield in Tanzania. Its flagship asset is the Imwelo Gold Project, a fully permitted, development-ready operation located approximately 12 km west of AngloGold Ashanti's Geita Mine. The project is underpinned by a JORC-compliant 2021 prefeasibility study, though it currently lacks a NI 43-101 feasibility study. Imwelo is designed as a low-capex, open-pit operation targeting initial production of 12,000 oz Au pa, with plans to ramp up to 24,000 oz Au pa.

The company also holds the Tembo Gold Project, situated adjacent to Barrick's Bulyanhulu Mine. Tembo hosts a maiden NI 43-101 resource comprising 480,100 Inferred and 99,700 Indicated ounces. Lake Victoria Gold is pursuing a capital-light toll-milling pathway for this asset in partnership with Nyati Resources. Previously, Atrium Research assigned a BUY rating to the stock with a $0.50 target price in April 2026.