[daytrader]

GOLDEN, COLORADO -- (MARKET WIRE) -- 08/06/09 -- Lake Victoria Mining Company, Inc. (OTCBB: LVCA) Underground shaft sampling of artisanal mines at the Singida "Gold Rush" project has produced an average grade of 7.1 grams of gold per metric ton; 175 underground samples were taken from 36 mine shafts and related mine workings. These initial results suggest that gold is present for a distance of five kilometers where the mine shafts are located.

A total of thirty-six mine shafts and related underground mine workings were sampled between June 13th and July 8th, 2009, within a 5 kilometer long trend, and in an area of active artisanal mining. Numerous artisanal mine shafts and workings have exposed steeply dipping, northwest-southeast trending gold bearing quartz veins that are accessible for mapping and sampling. Where sampled, the veins vary from about 30 centimeters to 2 meters thick.

A total of 175 vein and wall rock samples were collected; the maximum accessible sampling depth was 47 meters below surface. The samples were analyzed at laboratories in Mwanza, Tanzania, and quality control samples were analyzed along with the underground samples. The underground assays have an uncut average value of 7.1 grams per metric ton, or 0.23 ounces per ton. Dr. Roger Newell, president of Lake Victoria, stated, "These assay results are very encouraging and confirm the importance of the property. We look forward to further advancing the property with additional sampling and possible underground drilling." Further sampling, statistical analysis and geologic-geophysical mapping are underway in an attempt to closely define and extend the strike length of the quartz vein system. Additional results will be reported as they become available.

Geologically, the quartz veins lie within Precambrian mafic volcanic rocks that are part of a larger greenstone belt. The Company is conducting a detailed ground magnetic survey to assist in defining gold bearing geological structures and to further extend the vein structures. Initial indications are that the veins continue at depth below 47 meters and for distances beyond a 5 kilometer strike length. If additional exploration continues to prove successful, this area will develop into an important commercial gold mining district.

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