Lake Victoria Files NI43-101 Technical Report for Kinyambwiga-Murangi-Suguti Properties Tanzania, East Africa

Dec 21, 2012

Lake Victoria Mining Company (LVCA:OTCBB) is pleased to report completion of a National Instrument 43-101 Technical Report for the Kinyambwiga, Murangi and Suguti properties. The report was filed on SEDAR December 19, 2012. As previously announced in a November 13^th, 2012 Press Release, Dr. David Webb P. Geol. authored the report.

Lake Victoria Mining Company Inc., within the Technical Report, reports that 35 reverse circulation drill holes were completed by the Company at Kinyambwiga. Also reported for Kinyambwiga are an additional 21 reverse circulation and 377 rotary air blast holes that were completed by a previous company. Collectively these drill holes define a zone of mineralization that can be correlated on plan and in section over a 700 meter strike-length and to a depth of 90 meters below surface. While these correlations may be open to other interpretations, evidence suggests that the mineralized zone remains open along strike and down dip.

A Conceptual Target of 600,000 to 1,000,000 tonnes of economically significant mineralization is present at grades of 1.50 to 2.00 gpt in three vein structures at the Kanunga 1 prospect on the Kinyambwiga property. This Conceptual Target is within the first 150 to 200 meters of surface and may contain 30,000 to 60,000 ounces of gold.

Conceptual Targets are not Mineral Resources or Mineral Reserves and do not have demonstrated economic viability. Conceptual Targets need additional work or testing, and some or all of these targets may or may not become Mineral Resources or economically viable. Mineral resource and reserve estimates are affected by environmental, permitting, taxation, socio-economic, marketing, political, metallurgical, mining, and infrastructure issues. These issues are mainly economic impacts that have not yet been examined so are not discussed in this Technical Report.

David Webb, B.A.Sc. (Engineering), M.Sc., Ph.D., P. Geol., of DRW Geological Consultants Ltd. is a Qualified Person within the meaning of NI 43-101, is independent of Lake Victoria Mining Company Inc., and has reviewed the technical disclosure in this release and approves of its content.

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