Lake Victoria Gold Announces USD 32.2 Million Private Placement to Advance Tanzania's Imwelo and Tembo Gold Projects

Lake Victoria Gold Ltd. (LVG) has announced a strategic equity financing of up to USD 32.2 million to fund the development of its Imwelo Gold Project and expand exploration activities at its Tembo Gold Project in Tanzania.

The transaction comprises:

1. A USD 27.2 million non-brokered private placement to HOB Energy FZCO (HOB), under which HOB will subscribe for 90,733,960 common shares of LVG at USD 0.30 per share.

2. A concurrent non-brokered private placement of up to USD 5 million for certain existing significant shareholders, allowing them to subscribe for additional shares at the same price in order to maintain their pro rata ownership interests.

Upon completion of the transaction and assuming full participation in the concurrent offering, HOB is expected to acquire approximately 29.17% of LVG's issued and outstanding shares (non-diluted basis) and become a Control Person of the company under TSX Venture Exchange rules.

In addition to its investment, HOB will receive certain governance and investor rights, including:

• the right to appoint up to three directors to LVG's seven-member board;

• customary pre-emptive rights in future equity issuances;

• the right to appoint a Chief Operating Officer; and

• participation in a joint Technical Steering Committee overseeing project development and operations.

The proceeds will be used primarily to:

• advance the development of the Imwelo Gold Project toward production;

• fund expanded drilling and resource development at the Tembo Gold Project; and

• support general corporate and working capital requirements.

Completion remains subject to shareholder approval, regulatory approvals, TSXV approval, due diligence, and other customary conditions.