Lake Victoria Gold Strengthens In-Country Leadership to Support Imwelo Construction Readiness

About this update from Lake Victoria Gold Ltd

Vancouver, British Columbia--(Newsfile Corp. - June 16, 2026) - Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) ("LVG" or the "Company") is pleased to announce the strengthening of its in-country leadership team in Tanzania as the Company advances its fully permitted Imwelo Gold Project toward construction, development and production readiness. The Company has appointed Joseph Ntiga as Acting Chief Financial Officer, Tanzania and Cosmas Tungaraza as Compliance Officer. These appointments add experienced Tanzanian finance, regulatory, compliance and local content capacity at a critical stage in LVG's transition from project advancement to execution. Key Highlights Building the Local Execution Platform for Imwelo As Imwelo advances toward construction and production, LVG is focused on ensuring that its Tanzanian operating structure has the financial, regulatory and administrative depth required to support disciplined project execution. The appointments of Mr. Ntiga and Mr. Tungaraza are intended to strengthen the Company's ability to manage the next phase of development, including project budgeting, cost controls, statutory reporting, local content implementation, supplier coordination, government engagement and compliance oversight. Imwelo is a fully permitted gold project located in northwestern Tanzania. The Company is advancing Imwelo as its near-term production platform, with ongoing workstreams focused on engineering, financing, procurement, site access, infrastructure planning and development readiness. Alongside Imwelo, LVG continues to advance its 100% owned Tembo Project, a district-scale gold asset located immediately adjacent to Barrick's Bulyanhulu Mine in the prolific Lake Victoria Goldfield. Supported by more than 50,000 metres of historical drilling and multiple priority targets, Tembo remains a highly strategic growth asset within LVG's Tanzanian portfolio, with significant exploration upside and potential near term production opportunities. Joseph Ntiga – Acting Chief Financial Officer, Tanzania Mr. Ntiga is a Tanzanian finance professional with significant experience in mining finance, statutory reporting, internal controls, budgeting, tax compliance and operational financial management. Most recently, Mr. Ntiga has held senior finance and control roles at Williamson Diamonds Limited, wher...

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