File: '\\swfile\EmailIn\20260121 144521 Attachment LVG20260121_PR - grant of options (final).docx'

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LAKE VICTORIA GOLD GRANTS STOCK OPTIONS

Vancouver, British Columbia - January 21, 2026 - Lake Victoria Gold Ltd. (TSXV: LVG | OTCQB: LVGLF | FSE: E1K) (the "Company" or "LVG") announces that it has granted an aggregate of 1,000,000 stock options to consultants of the Company, being SIDIS Holdings ("SIDIS") and Market IQ Media Group Incorporated ("MIQ"), pursuant to the Company's stock option plan. The options are exercisable at a price of $0.20 per share for three years.

The options to SIDIS & 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 (LVG):

Lake Victoria Gold is a rapidly growing gold exploration and development company listed on the TSX Venture Exchange under the symbol LVG. Leveraging our 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% interest in the Tembo project which has over fifty thousand meters of drilling and is located adjacent to Barrick's Bulyanhulu Mine. The Company also holds a 100% 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 pre-feasibility study, the project is fully permitted for mine construction and production, positioning it as a near-term development opportunity.

LVG has assembled a highly experienced team with a track record of developing, financing, and operating mining projects in Africa with management, directors and partners owning more than 60% 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.

On Behalf of the Board of Directors of the Company,

Simon Benstead

Executive Chairman & CFO

Phone: +1 604-685-9316

Email: sbenstead@lakevictoriagold.com

For more information please contact:

Simon Benstead

Executive Chairman & CFO

Phone:+ 1 604-685-9316

Email: sbenstead@lakevictoriagold.com

Marc Cernovitch

CEO & Director

Phone: +1 604-685-9316

Email: mcernovitch@lakevictoriagold.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

File: Attachment LVG20260121_PR - grant of options (final).pdf

LAKE VICTORIA GOLD GRANTS STOCK OPTIONS

Vancouver, British Columbia January 21, 2026 Lake Victoria Gold Ltd. (TSXV: LVG | OTCQB: LVGLF | FSE: E1K) (the "Company" or "LVG") announces that it has granted an aggregate of 1,000,000 stock options to consultants of the Company, being SIDIS Holdings ("SIDIS") and Market IQ Media Group Incorporated ("MIQ"), pursuant to the Company's stock option plan. The options are exercisable at a price of $0.20 per share for three years.

The options to SIDIS & 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 (LVG): Lake Victoria Gold is a rapidly growing gold exploration and development company listed on the TSX Venture Exchange under the symbol LVG. Leveraging our 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% interest in the Tembo project which has over fifty thousand meters of drilling and is located adjacent to Barrick's Bulyanhulu Mine. The Company also holds a 100% 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 pre-feasibility study, the project is fully permitted for mine construction and production, positioning it as a near-term development opportunity.

LVG has assembled a highly experienced team with a track record of developing, financing, and operating mining projects in Africa with management, directors and partners owning more than 60% 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.

On Behalf of the Board of Directors of the Company,

Simon Benstead Executive Chairman & CFO Phone: +1 604-685-9316 Email: sbenstead@lakevictoriagold.com

For more information please contact:

Simon Benstead Executive Chairman & CFO Phone:+ 1 604-685-9316 Email: sbenstead@lakevictoriagold.com

- 1 - Marc Cernovitch CEO & Director Phone: +1 604-685-9316 Email: mcernovitch@lakevictoriagold.com NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

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