LAKE VICTORIA OFFICIALLY RECEIVES MINING LICENSE FOR KINYAMBWIGA OPEN PIT GOLD PROJECT, TANZANIA


2014-06-03
CORPORATE

June 3rd, 2014 Vancouver, British Columbia, Canada, Lake Victoria Mining Company Inc. (OTCBB: LVCA) is pleased to report that its wholly owned Tanzanian subsidiary, Lake Victoria Resources (T) Ltd has officially been issued Mining License ML520/2014 by the Tanzanian Government in respect to the Company’s proposed Kinyambwiga open-pit gold project in northern Tanzania.  The official license was received on June 2nd, 2014, which follows the earlier project approval notice issued on April 1st, 2014 (see Lake Victoria’s press release dated April 3rd, 2014) and the Environmental certificate which was approved on the 9th January 2014. 

The mining license covers an area of approximately 5.12 square kilometers and remains in force for the period of ten years, Under the terms of the mining license the Company can now search for, mine, dig, mill, process, refine, transport, use and or market Gold under the Mining license area and execute such other works as are necessary for that purpose. Receiving the mining license allows the Company to raise the estimated $3,000,000 capital investment needed to proceed with the mine development. This will take the Company from exploration into gold production. 

Readers of this news release are encouraged to visit the “LVCA Media Room” on the Company’s corporate website for audio and video updates on the Kinyambwiga and other Company projects.

Clive King, P. Geo., a Qualified Person as such term is defined in Canadian National Instrument 43-101, has reviewed and approved the information in this news release.  Clive King is a registered Professional Geologist with the South African Council of Natural Scientific Professions (Pr.Sci. Nat. Reg. No. 400065/09).  

 

About the Company

Lake Victoria Mining Company, Inc. is working to create another gold mine in the world famous Lake Victoria Greenstone Belt, Tanzania, East Africa.  Tanzania, which is Africa’s fourth largest gold producer behind South Africa, Ghana and Mali, also has reserves of uranium, nickel and coal.  Gold exports alone earned Tanzania $1.076 billion in 2009, up from $932.4 million the previous year.  Lake Victoria holds nine prospective gold projects within its Tanzania property portfolio.

Additional information regarding the Company is available on the corporate website at: www.lakevictoriaminingcompany.com or by contacting:

 

Lake Victoria Mining Company, Inc.

David T. Kalenuik, CEO & President

Phone 303-586-1390

Email: info@lvcamining.com

 

Disclaimer

This news release may contain forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and within the meaning of Canadian provincial securities laws applicable to the Company. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to obtaining financing to meet the Company's exploration programs and operating costs during its exploratory stage, the interpretation of exploration results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, or other unanticipated difficulties with or interruptions in production and operations, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including the inability to obtain mining permits and environmental regulatory restrictions and liability, the speculative nature of mineral exploration, dilution, competition, loss of key employees, and other risks and uncertainties, including those described under "Risk Factors" in the Company's Annual Report on Form 10-K filed on June 28, 2013, which is on file with the Securities and Exchange Commission, as well as the Company's periodic filings available at www.sec.gov and with Canadian Securities Administrators at www.sedar.com. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as is required under applicable securities laws.

Cautionary note to U.S. Investors – The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this press release, such as "mineralized zones" which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosures in our annual report on Form 10-K. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or unless an exemption from such registration is available.