Lake Victoria Gold Begins Early Works at Imwelo Project

Lake Victoria Gold Ltd. has commenced early works at its wholly owned Imwelo Gold Project in the Chato District of Tanzania. The company completed spot repairs on 14 kilometers of access roads using locally sourced laterite to ensure the site remains accessible before the wet season begins in late October or November.

Current on-site activities include bush clearing, topsoil stripping, and leveling at the dam sites, waste rock dump, tailings storage facility, and the pit. The company has also substantially completed a construction camp intended to serve as the permanent operations camp to lower long-term capital costs.

While the Imwelo project is fully permitted, the company has not yet completed a feasibility study to establish mineral reserves. Management noted that record gold prices have shifted industry constraints from project economics to regulatory and scheduling timelines. The company utilized Taifa Group for civil works and coordinated road repairs with the Tanzania Rural and Urban Roads Agency.