Lake Victoria Mining Company Inc. (OTCBB: LVCA) is pleased to report
that its wholly owned Tanzanian subsidiary, Lake Victoria Resources (T)
Ltd, has officially been issued Mining License ML520/2014 by the
Tanzanian Government in respect to the Company’s proposed Kinyambwiga
open-pit gold project in northern Tanzania. The official license was
received on June 2nd, 2014, which follows the earlier project
approval notice issued on April 1st, 2014 (see Lake
Victoria’s press release dated April 3rd, 2014) and the
Environmental certificate which was approved on the 9th
January 2014.
The mining license covers an area of approximately 5.12 square
kilometers and remains in force for the period of ten years, under the
terms of the mining license the Company can now search for, mine, dig,
mill, process, refine, transport, use and or market Gold under the
Mining license area and execute such other works as are necessary for
that purpose. Receiving the mining license allows the Company to raise
the estimated $3,000,000 capital investment needed to proceed with the
mine development. This will take the Company from exploration into gold
production.
Readers of this news release are encouraged to visit the “LVCA Media
Room” on the Company’s corporate website for audio and video updates on
the Kinyambwiga and other Company projects.
Clive King, P. Geo., a Qualified Person as such term is defined in
Canadian National Instrument 43-101, has reviewed and approved the
information in this news release. Clive King is a registered
Professional Geologist with the South African Council of Natural
Scientific Professions (Pr.Sci. Nat. Reg. No. 400065/09).
About the Company
Lake Victoria Mining Company, Inc. is
working to create another gold mine in the world famous Lake Victoria
Greenstone Belt, Tanzania, East Africa. Tanzania, which is Africa’s
fourth largest gold producer behind South Africa, Ghana and Mali, also
has reserves of uranium, nickel and coal. Gold exports alone earned
Tanzania $1.076 billion in 2009, up from $932.4 million the previous
year. Lake Victoria holds nine prospective gold projects within its
Tanzania property portfolio.
Additional information regarding the Company is available on the
corporate website at: www.lakevictoriaminingcompany.com
or by contacting:
Lake Victoria Mining Company, Inc.
David T. Kalenuik, CEO & President
Phone: 303-586-1390
Email: info@lvcamining.com
Disclaimer
This news release may contain forward-looking statements or information
within the meaning of the United States Private Securities Litigation
Reform Act of 1995 and within the meaning of Canadian provincial
securities laws applicable to the Company. Forward-looking statements
are typically identified by words such as: believe, expect, anticipate,
intend, estimate, postulate and similar expressions, or are those,
which, by their nature, refer to future events. Forward-looking
statements or information are subject to a variety of risks and
uncertainties which could cause actual events or results to differ from
those reflected in the forward-looking statements or information,
including, without limitation, risks and uncertainties relating to
obtaining financing to meet the Company's exploration programs and
operating costs during its exploratory stage, the interpretation of
exploration results and the estimation of mineral resources and
reserves, the geology, grade and continuity of mineral deposits, the
possibility that future exploration, development or mining results will
not be consistent with the Company's expectations, accidents, equipment
breakdowns, title matters, or other unanticipated difficulties with or
interruptions in production and operations, the potential for delays in
exploration or development activities or the completion of feasibility
studies, the inherent uncertainty of production and cost estimates and
the potential for unexpected costs and expenses, commodity price
fluctuations, currency fluctuations, regulatory restrictions, including
the inability to obtain mining permits and environmental regulatory
restrictions and liability, the speculative nature of mineral
exploration, dilution, competition, loss of key employees, and other
risks and uncertainties, including those described under "Risk Factors"
in the Company's Annual Report on Form 10-K filed on June 28, 2013,
which is on file with the Securities and Exchange Commission, as well as
the Company's periodic filings available at www.sec.gov
and with Canadian Securities Administrators at www.sedar.com.
Should one or more of these risks and uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary
materially from those described in forward-looking statements.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information. The Company does not
undertake any obligation to release publicly revisions to any
"forward-looking statement," to reflect events or circumstances after
the date of this news release, or to reflect the occurrence of
unanticipated events, except as is required under applicable securities
laws.
Cautionary note to U.S. Investors - The United States Securities and
Exchange Commission permits U.S. mining companies, in their filings with
the SEC, to disclose only those mineral deposits that a company can
economically and legally extract or produce. We use certain terms on
this press release, such as "mineralized zones" which the SEC guidelines
strictly prohibit U.S. registered companies from including in their
filings with the SEC. U.S. Investors are urged to consider closely the
disclosures in our annual report on Form 10-K. This news release does
not constitute an offer to sell or a solicitation of an offer to buy any
of the securities of the Company in the United States, nor shall there
be any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities offered have not
been and will not be registered under the United States Securities Act
of 1933, as amended (the "U.S. Securities Act") or any U.S. state
securities laws and may not be offered or sold within the United States
or to, or for the account or benefit of, U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or
unless an exemption from such registration is available.
Copyright Business Wire 2014