Lake Victoria Receives Positive Metallurgical Gold Recovery Test Results and Initiates Environmental Permitting Study at the Kinyambwiga Gold Project Tanzania, East Africa

Dec 19, 2012

Lake Victoria Mining Company (LVCA:OTCBB) is pleased to report initial metallurgical gold recovery test results from the Company’s Kinyambwiga gold project, in Tanzania. A bulk rock sample of 50 kilograms, assaying 7.24 grams per tonne, was collected from a number of artisanal shafts on the prospect and then submitted to Simpson & Peacock Minerals Processing Engineers in Harare, Zimbabwe for metallurgical test work.

Gold Recovery Test Results Summary

To simulate gravity only recovery methods, rock material was crushed to 100 percent passing minus 1.0-millimeter size and then transferred to a Knelson concentrator; this early stage liberation test yielded a 24.2 percent gold recovery.

Fine grinding of the rock material to a size of 80 percent minus 0.075 millimeters and then transferring the material to a Knelson concentrator yielded a 54.5 percent gold recovery.

Agitated leaching of the gravity tails for a 24-hour period resulted in a gold recovery of 84.1 percent.

The overall gold recovery from Fine Grinding with Knelson Concentration and Agitated Leaching totalled 92.7 percent.

From these initial test results, it appears the Kinyambwiga gold bearing rock can be processed by standard metallurgical methods. Further testing is underway to determine electric power requirements and recovery estimates by flotation methods. Results will be used to define the configuration and ideal equipment for an optimal gold recovery plant.

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