Mr. Simon Benstead reports

LAKE VICTORIA GOLD GRANTS STOCK OPTIONS

Lake Victoria Gold Ltd. has granted an aggregate of one million stock options to consultants of the company, being SIDIS Holdings and Market IQ Media Group Inc. (MIQ), pursuant to the company's stock option plan. The options are exercisable at a price of 20 cents per share for three years.

The options to SIDIS and MIQ are being granted in connection with previously announced and TSX Venture Exchange-approved investor relations agreements, and are intended to align the interests of the company's consultants with those of shareholders.

All options granted are subject to the approval of the TSX Venture Exchange.

About Lake Victoria Gold Ltd.

Lake Victoria Gold is a rapidly growing gold exploration and development company listed on the TSX Venture Exchange under the symbol LVG. Leveraging its unique position and experience, the company is principally focused on growth and consolidation in the highly prolific and prospective Lake Victoria goldfield in Tanzania.

The company has a 100-per-cent interest in the Tembo project, which has over 50,000 metres of drilling and is located adjacent to Barrick's Bulyanhulu mine. The company also holds a 100-per-cent interest in the Imwelo project, which is a fully permitted gold project west of AngloGold Ashanti's Geita gold mine. With historical resource estimates and a 2021 prefeasibility study, the project is fully permitted for mine construction and production, positioning it as a near-term development opportunity.

Lake Victoria Gold has assembled a highly experienced team with a record of developing, financing and operating mining projects in Africa with management, directors and partners owning more than 60 per cent of the shares. Notably, the company is grateful for the validation that comes with the support and equity investment from Barrick and recent strategic partnership with Taifa Group.