Lake Victoria Gold Strengthens In-Country Leadership to Support Imwelo Construction Readiness

Executive Summary

• Lake Victoria Gold Ltd. appointed Joseph Ntiga as Acting Chief Financial Officer for Tanzania and Cosmas Tungaraza as Compliance Officer to bolster local financial and regulatory leadership as the Imwelo Gold Project advances toward construction and production.
• The Company engaged Vectis Capital to provide investor relations and market awareness services for an initial three-month term, with a fixed cash fee and no equity compensation.
• These administrative appointments support the Company's transition from project advancement to execution, reinforcing compliance, local content alignment, and financial governance across its Tanzanian portfolio.

Key Details

• Acting CFO, Tanzania: Joseph Ntiga appointed to lead the Tanzanian finance function, bringing experience in mine-level financial control, statutory reporting, budgeting, tax compliance, internal controls, and board-level reporting.
• Compliance Officer: Cosmas Tungaraza appointed to manage Tanzanian mining compliance, local content planning/reporting, Mining Commission submissions, tenement administration, and CSR coordination.
• Strategic Context: Appointments are intended to strengthen project budgeting, cost controls, procurement oversight, and government engagement as Imwelo advances through detailed planning, site preparation, and development readiness.
• Investor Relations Engagement: Vectis Capital engaged for IR and market awareness services; initial three-month term commencing June 4, 2026, renewable in successive three-month terms with 30 days' notice.
• IR Compensation Terms: US$30,000 cash fee; no securities issued, fee not tied to share price or trading volume, no performance factors, and Vectis is at arm's length with no existing Company securities.
• Project Portfolio Context: Imwelo remains a fully permitted gold project in northwestern Tanzania advancing toward production; Tembo Project (100% owned) remains a strategic growth asset adjacent to Barrick's Bulyanhulu Mine with significant exploration upside.

Notable Quotes

• Marc Cernovitch, President and CEO: "As LVG advances Imwelo toward construction, development and production, the strength of our Tanzanian team becomes increasingly important. These appointments add practical in-country experience in finance, compliance, local content and regulatory coordination, all of which are critical to disciplined execution."
• Marc Cernovitch, President and CEO: "Our objective is clear: build a capable, locally anchored team that can support the transition from planning to execution while maintaining strong governance, regulatory alignment and cost discipline."