Lake Victoria Mining Company, Inc.: Kinyambwiga Gold Project Tailings, Grab Sampling and Quartz Vein Mapping Results in

Wed May 6, 2009 2:35pm EDT

* Reuters is not responsible for the content in this press release.

  GOLDEN, COLORADO, May 06 (MARKET WIRE) -- 
Lake Victoria Mining Company (OTCBB: LVCA) continues to move forward with
its previously announced plan to establish a low cost, high grade
commercial gold mine at Kinyambwiga Gold Project, Tanzania.

    The Kinyambwiga Gold Project contains high grade quartz veins within a 30
square kilometer property that is the scene of artisanal mining. These
gold bearing veins come to surface and in 2008, Kilimanjaro Mining
Company drilled fifteen reverse circulation holes to confirm the vein
structure and over 300 reconnaissance holes to define vein directions.
The veins appear to extend over one-kilometer in length and may contain a
million tons or more of mineralized material.

    During April, 2009 Kinyambwiga tailings sampling and small scale miners
pit and vein mapping was conducted. The aim was to estimate of the
tonnage present in the tailings as well as to prepare a detailed
geological map of the vein system as it was mined by artisanal miners.
This detailed mapping also confirmed how the 2008 drilling defined the
mineralized veins.

    A total of eight samples each weighing approximately 2kg were collected
from near the top of the tailing piles. It was estimated that the each of
the eight piles of tailings contain approximately 100 tons, and that
between 800 and 1000 tons of tailings are present in the immediate mining
area.

    Apart from sampling the tailing piles, thirty-eight rock grab samples
were collected from shallow workings within the small scale mining areas.
Two standard samples were incorporated making a total of 48 samples.
These samples were submitted to the assay laboratory (Humac, Mwanza) and
the assay results are listed below.

    Gold values are reported in parts-per-million (ppm), and one ounce of
gold per metric ton ore is equivalent to 31.1 ppm. The assays were
repeated for confirmation and the repeat assays are shown in the second
column. Note: KNTL020 and KNTL040 were the two added standard samples and
KNTL048 was a rock grab sample from artisanal workings around the mine
area.

    Tailings assay results include sample numbers KNTL039 - KNTL047 listed
below:


-----------------------------------
Sample No.   Gold (ppm)   Gold (ppm)
-----------------------------------
KNTL039         15.250       14.750
-----------------------------------
KNTL040          1.990        1.890
-----------------------------------
KNTL041         12.250       14.125
-----------------------------------
KNTL042         12.125       13.125
-----------------------------------
KNTL043         13.875       12.500
-----------------------------------
KNTL044          8.375        8.375
-----------------------------------
KNTL045         11.625       11.000
-----------------------------------
KNTL046          8.625        9.000
-----------------------------------
KNTL047         12.500       12.500
-----------------------------------
KNTL048          2.300        2.500
-----------------------------------


    Based on the tailings assay results there appears to be a significant
amount of gold left in the tailings that if confirmed by additional
testing could potentially be recovered as part of a commercial gold mine.

    In addition, thirty-eight rock grab samples were taken from workings
around the small scale mining area; these assay results are tabulated
below:


---------------------------------------
SAMPLE NO    Au ppm   Repeats   Repeats
---------------------------------------
KNTL001        1.08
---------------------------------------
KNTL002        0.31
---------------------------------------
KNTL003        2.04
---------------------------------------
KNTL004        5.30      5.95      5.90
---------------------------------------
KNTL005        1.87
---------------------------------------
KNTL006        7.70      7.25
---------------------------------------
KNTL007        1.28
---------------------------------------
KNTL008        8.25      8.85      8.30
---------------------------------------
KNTL009        6.30      7.05
---------------------------------------
KNTL010        1.71
---------------------------------------
KNTL011        0.35
---------------------------------------
KNTL012        0.60      0.78
---------------------------------------
KNTL013        0.40
---------------------------------------
KNTL014        3.20                2.87
---------------------------------------
KNTL015        2.45                1.95
---------------------------------------
KNTL016        1.21
---------------------------------------
KNTL017        0.31
---------------------------------------
KNTL018        0.50
---------------------------------------
KNTL019        3.50
---------------------------------------
KNTL020        1.88      1.82
---------------------------------------
KNTL021        5.20                5.70
---------------------------------------
KNTL022        3.80
---------------------------------------
KNTL023        4.45                3.81
---------------------------------------
KNTL024       22.50     18.90     19.25
---------------------------------------
KNTL025        1.72      1.45
---------------------------------------
KNTL026        2.80
---------------------------------------
KNTL027        0.35
---------------------------------------
KNTL028        4.55
---------------------------------------
KNTL029        8.40      8.05
---------------------------------------
KNTL030        5.05                5.60
---------------------------------------
KNTL031        5.05
---------------------------------------
KNTL032        5.15
---------------------------------------
KNTL033        0.01
---------------------------------------
KNTL034        1.05
---------------------------------------
KNTL035        8.45                8.50
---------------------------------------
KNTL036        1.94
---------------------------------------
KNTL037        0.01      0.01
---------------------------------------
KNTL038        2.17
---------------------------------------


    The detailed quartz vein mapping identified two sets of vein systems
which are:

    1. Strike of 040 degrees dipping vertical to sub-vertical to the
southeast, and

    2. Strike of 080 degrees dipping vertical to sub-vertical to the south.

    The quartz veins have a variable thickness which occur between 1 - 2
meters.

    Subsequent to the above, the Company retained SRK Consulting - East
Africa (Pvt) Ltd, through Geo Can Resources Company Limited, to conduct a
technical review of the completed exploration and to comment on the
possible economic viability of an underground mine at Kinyambwiga.

    If conditions prove favorable, the Company plans to establish an
underground gold mine with a possible five year life, commencing
production at about 100 tons per day, and potentially expanding towards
500 tons per day.

    Upon receipt of SRK's report the Company will hope to complete the
required financing and initial mine development; if ideal conditions
allow, pre-production could begin within nine months of completing
financing.

    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 produced 1.75 million troy ounces of gold during 2007 and is the
3rd largest gold producer in Africa behind South Africa and Ghana. Lake
Victoria Mining Company, Inc. currently holds an ownership and option
interest in the Kinyambwiga (a near term gold producing mining project)
Geita, Kalemela, Igusule and Bahi-Hombolo projects along with Geo Can
Resources Company Limited (Tanzania).

    Disclaimer

    This news release may contain forward looking statements, relating to the
Company's operations or the environment in which it operates, which are
based on Lake Victoria Mining Company, Inc.'s operations, estimates,
forecasts and projections. These statements are not guarantees of future
performance and involve risks and uncertainties that are difficult to
predict, and/or beyond Lake Victoria Mining Company, Inc.'s control. A
number of important factors could cause actual outcomes and results to
differ materially from those expressed in these forward-looking
statements. Consequently, readers should not place undue reliance on such
forward-looking statements. Lake Victoria Mining Company, Inc. disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.

Contacts:
Lake Victoria Mining Company, Inc.
Roger A. Newell, Ph.D.
President
303-586-1390
info@lvcamining.com
www.lakevictoriaminingcompany.com

Copyright 2009, Market Wire, All rights reserved.

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