Lake Victoria Gold - LVGLF STOCK NEWS

Lake Victoria Gold (LVGLF) announces the completion of a 10-year renewal and transfer authorization for the Imwelo Mining License from the Tanzanian Mining Commission. The license will be transferred to LVG through its subsidiary Tembo Gold Tanzania , pending TSX Venture Exchange approval and completion of financing with Taifa Mining. The company is in advanced negotiations for non-dilutive funding to cover CAPEX development costs. Following the license transfer, the next tranche of equity investment from Taifa Group will be triggered, supporting project development. LVG plans to proceed with exploration, site preparation, and development activities at Imwelo.

Lake Victoria Gold (TSXV: LVGLF) has provided an update on Q1 and Q2 2024 exploration activities conducted by Bulyanhulu Gold Mine on licenses sold to them in 2022. Key highlights include:

1. Q1 operations were delayed due to an exceptionally wet season.
2. Preliminary results showed promising anomalous gold values along geophysical linear features.
3. Q2 saw the deployment of two drill rigs in the northwest area, focusing on the Kalemero prospect.
4. Early results confirm the presence of basalt, tuff, argillite, and quartz feldspar porphyry with localized shearing and mineralization.
5. Additional RC drilling is scheduled for Q3 in the Ngula prospect area.
6. Total expenditure to date is $2,099,144 out of a proposed $9,000,000 over four years.

Lake Victoria Gold (TSXV: LVGLF) has announced the submission of all required documentation to the Tanzanian Mining Commission for the 10-year renewal and transfer of the Imwelo Mining License. This marks a important step in securing long-term rights to the Imwelo Project in the Lake Victoria Goldfield region. The submission includes updated Mining, Environmental, and Closure Plans, along with commitments to begin development within 90 days and payment of the license renewal fee.

The company has completed due diligence, received shareholder approval, and obtained conditional TSX Venture Exchange approval. With the Tax Clearance Certificate from the Tanzanian Revenue Authority in hand, LVG expects to close the Imwelo acquisition by the end of Q3 2024. This milestone positions LVG to advance its exploration and development activities at Imwelo, contributing to the company's long-term growth strategy in Tanzania.

Lake Victoria Gold (TSXV: LVGLF) has announced the 10-year renewal of the Imwelo Mining License in Tanzania, subject to certain conditions. The company must submit updated Mining, Environmental, and Closure Plans, commit to commence development within 90 days, and pay the license renewal fee within 30 days. This renewal secures LVG's rights to continue developing and operating the Imwelo Project in the Lake Victoria Goldfield region.

CEO Marc Cernovitch highlighted the renewal as a testament to LVG's strong relationship with Tanzanian authorities and commitment to sustainable mining practices. Executive Chairman Simon Benstead emphasized that this achievement provides stability and certainty for the company's ambitious plans, enhancing its ability to deliver sustained value to shareholders.

Lake Victoria Gold (TSXV: LVG) has received the Tax Clearance Certificate from the Tanzanian Revenue Authority for the acquisition of the Imwelo Mining License. This marks the final requirement for the transfer of the license to LVG by the Tanzanian Mining Commission. CEO Marc Cernovitch stated that this is a critical step in their strategy to grow and consolidate assets in the Lake Victoria Goldfield.

With the acquisition imminent, LVG plans to advance development plans, including site preparations, infrastructure development, and initial mining activities. The company is also negotiating with debt and equity partners to secure full financing for the Imwelo project development. Executive Chairman Simon Benstead emphasized that this milestone reflects LVG's dedication to expanding operations in Tanzania.

Lake Victoria Gold (TSXV: LVG) has updated its shareholders on the acquisition of the Imwelo Mining License. The Tanzanian Revenue Authority has issued the tax assessment for the acquisition, which is within the expected range. The company will soon make the payment and receive a tax clearance certificate, necessary for transferring the license. This milestone will trigger the second tranche of investment from the TAIFA Group. LVG is also negotiating with other debt and equity groups to fully fund the Imwelo Project development.

CEO Marc Cernovitch expressed excitement over reaching this stage, while Executive Chairman Simon Benstead acknowledged the extended process but emphasized the company's readiness to execute its growth strategy in Tanzania.

Lake Victoria Gold (TSXV: LVG) provides a corporate update, highlighting progress on the Imwelo Property and Tembo Project. The acquisition of the Imwelo Mining License is nearing completion, with important tax assessments underway. Significant advancements include earthworks, infrastructure development, and securing the necessary equipment for construction. The Tembo Project, in collaboration with Barrick Gold, is progressing with a comprehensive drilling program and substantial exploration expenditure to unlock potential mineral resources.

Lake Victoria Gold Ltd. (LVG) announces the approval of the acquisition of the Imwelo mining license by its subsidiary Tembo Gold Ltd. from Tanzoz Minerals Limited. The acquisition was unconditionally approved by the Tanzanian Fair Competition Commission on February 29, 2024. The Imwelo project includes a fully permitted mining license located in the Geita greenstone belt, with significant gold resources. The acquisition is valued at C$5,500,000, consisting of approximately 23.6 million common shares at C$0.22 per share. The next steps involve the assessment of capital gains tax and the submission of the license transfer application to the Mining Commission of Tanzania.

Lake Victoria Gold Limited (LVGLF) held its annual general meeting and reported the election of incumbent and new directors, the re-appointment of the auditor, and the ratification of the existing stock option plan. Marc Cernovitch was appointed as the new CEO, Simon Benstead as the Executive Chairman and CFO, and David Scott as the Managing Director Tanzania.