Lake Victoria Gold advances Tanzanian regulatory process for Monetary Metals loan

Company progressing Bank of Tanzania and related regulatory workstreams to implement previously announced gold loan facility of up to 6,000 ounces of gold for the Imwelo Gold Project Vancouver, British Columbia--(Newsfile Corp. - June 25, 2026) - Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) ("LVG" or the "Company") is pleased to provide an update on the previously announced gold loan facility with Monetary Metals & Co. ("Monetary Metals"). The Company is advancing the facility through the applicable Tanzanian regulatory approval, registration and notification workstreams, representing an important step toward closing and funding the facility. As previously announced on April 1, 2026, the Company agreed to terms for a gold loan facility of up to 6,000 ounces of gold, representing approximately US$25 million, with Monetary Metals.

The facility is intended to provide non-dilutive, project-level funding in support of the Company's fully permitted Imwelo Gold Project in Tanzania, held through its wholly owned Tanzanian subsidiary, Tembo Gold (T) Limited ("TGTL"), under Mining Licence ML 538/2015. Key Highlights Tanzanian regulatory process advancing: The Company is progressing Bank of Tanzania registration and related regulatory workstreams required for implementation of the facility. Non-dilutive project financing: The Monetary Metals facility remains a key component of LVG's disciplined capital strategy for Imwelo, providing access to development capital without a large equity financing at the project level.

Gold-denominated alignment: The facility is structured in gold ounces, with repayment in gold ounces, matching the financing instrument to the future production profile of Imwelo. Imwelo development pathway: The facility is intended to support the Company's progression from engineering toward construction, development and production readiness at Imwelo. Management Commentary Marc Cernovitch, President, CEO & Director of Lake Victoria Gold, commented: "Advancing the Tanzanian regulatory process for the Monetary Metals facility is an important and positive step for Lake Victoria Gold.

This facility remains a central component of our non-dilutive funding strategy for Imwelo and reflects the type of disciplined, project-level capital structure we believe is appropriate for a near-term gold development project. We also believe this facility has broader significance for Tanzania, as it would represent one of the first structured gold-denominated project financing facilities of its kind in the country, demonstrating how gold-linked capital can support responsible mine development while preserving shareholder value. We are taking the right steps in the right order: working through the Bank of Tanzania process, engaging with the relevant Tanzanian authorities and ensuring the facility is implemented in a manner that is consistent with Tanzanian law, our development plan and our obligations as a public company.

Imwelo is fully permitted, our in country team is being strengthened, and our focus remains on execution. The Monetary Metals facility is intended to bring gold-linked capital to a gold project as we advance Imwelo toward construction and, ultimately, production." Keith Weiner, CEO of Monetary Metals, said: "We are working with Lake Victoria Gold on the Tanzanian regulatory process. We are excited about providing the first gold-denominated project financing in the country.

And of course, the foundational steps have to be completed properly." Advancing Tanzanian Regulatory Workstreams A cross-border, gold-denominated facility of this nature requires coordination across several established Tanzanian regulatory and administrative workstreams. The Company is progressing these steps in the ordinary course and views them as expected components of implementing a structured project financing facility in Tanzania. The principal workstreams currently being advanced include: Bank of Tanzania registration of the external facility, including the process to obtain a Debt Registration Number; Mining Commission engagement in respect of Mining Licence ML 538/2015 and the gold-delivery mechanics associated with the facility; Mineral marketing, royalty and export-clearance alignment, including review of applicable requirements for future gold sales, delivery, royalty payments and export procedures; and Definitive documentation and implementation planning with Monetary Metals and relevant Tanzanian and international advisers.

The Company's approach is to advance the facility in a manner that is fully aligned with Tanzanian regulatory requirements, the Company's mine development plan and the long-term interests of its shareholders. Strategic Financing for Imwelo The Monetary Metals facility is designed to provide LVG with a substantial funding pathway for Imwelo at a critical stage in the project's development. By structuring the facility in gold ounces rather than conventional equity, the Company is seeking to match project financing to Imwelo's future gold production while minimizing shareholder dilution.

The Company believes this structure is well suited to Tanzania's growing role as a major African gold producer and reflects an innovative financing approach for development-stage gold projects in the country. The facility is intended to demonstrate how gold-linked capital can align financing obligations with future project output as Imwelo advances toward production. The Company is advancing engineering, procurement planning and financing initiatives in parallel as it works toward construction readiness at Imwelo.

Path to Closing Completion of the facility remains subject to satisfaction of applicable regulatory approvals, registrations and notifications, completion of definitive documentation, finalization of implementation mechanics, and other customary closing conditions. The Company expects to provide further updates as the regulatory and documentation workstreams advance. Issuance of Shares for Debenture Interest The Company announces that further to its news release dated May 11 th 2026 the Company, having received TSX Venture Exchange approval, has issued to debenture holders an aggregate of 83,960 common shares in the capital of the Company (the " Shares ") at a price of $0.31 per Share, as determined in accordance with the terms of the $750,000 of convertible debentures issued on July 26, 2024 and August 8, 2024.

The issuance of shares satisfies the Company's obligation to pay $26,027.51 of interest owing up to date of conversion of the debentures into common shares. Cautionary Note on Production Decision Although Imwelo has been the subject of JORC-compliant PEA, PFS and updated PFS work, these foreign-code studies are not current under NI 43-101. The Company has not completed a feasibility study on Imwelo that establishes mineral reserves demonstrating economic and technical viability and is not treating the JORC-based estimates or analyses as current under CIM Definition Standards.

Any decision to commence production is not based on a feasibility study of mineral reserves and therefore involves increased uncertainty and a higher risk of economic and technical failure. There is no certainty that the planned low-capex open-pit operation will be economically viable or that production will occur as anticipated. Risks include, without limitation, variations in grade and recovery, unexpected geotechnical or metallurgical challenges, cost overruns, funding availability, and operational, regulatory, or permitting risks.

About Monetary Metals Monetary Metals delivers a yield on gold, paid in gold, via its Gold Yield Marketplace™ platform, by offering gold-denominated financing to qualified companies in the precious metals industry. Through its gold leases and gold bonds, investors and institutions worldwide earn a yield on gold and silver every month, compounding their holdings over time with no storage fees. For more information, please visit www.monetary-metals.com .

About Lake Victoria Gold: Lake Victoria Gold is a rapidly growing gold exploration and development company listed on the TSX Venture Exchange under the symbol LVG. Leveraging our unique position and experience, the Company is principally focused on growth and consolidation in the highly prolific and prospective Lake Victoria Goldfield in Tanzania. The Company has a 100% interest in the Tembo project which has over fifty thousand meters of drilling and is located adjacent to Barrick's Bulyanhulu Mine.

The Company also holds a 100% interest in the Imwelo Project which is a fully permitted gold project west of AngloGold Ashanti's Geita Gold Mine. With historical resource estimates and a JORC Compliant 2021 pre-feasibility study, the project is fully permitted for mine construction and production, positioning it as a near-term development opportunity. LVG has assembled a highly experienced team with a track record of developing, financing, and operating mining projects in Africa with management, directors and partners owning more than 60% of the shares.

Notably, the Company is grateful for the validation that comes with the support and equity investment from Barrick and strategic partnership with Taifa Group . Taifa Group (a diverse group of companies with interests in amongst others, Mining, Telecoms, Oil & Gas, Agri Business, Pharmaceuticals and Leather) has entered into an agreement with the Company to obtain an equity stake in the Company and through its wholly owned subsidiary Taifa Mining (a wholly Tanzanian owned company), or other nominees. Taifa Mining will also conduct all the contract mining and civil works for the Imwelo project.

Taifa Mining is Tanzania's largest mining contractor with over 30 years mining related experience. Taifa have been the contractor of choice to most mines in Tanzania and have maintained long and successful relationships with companies such as Petra, De Beers, Barrick, and AngloGold Ashanti. In addition, Taifa also owns the largest fleet of mining equipment in Tanzania.

As a company, Taifa is committed to adopting and adhering to the latest internationally recognized standards throughout all aspects of its business. On Behalf of the Board of Directors of the Company, Simon Benstead Executive Chairman & CFO Phone: +1 604-685-9316 Email: sbenstead@lakevictoriagold.com   NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation, including, without limitation: the terms and completion of the Private Placement; the advancement of the Company's projects; exploration and development plans of the Company; the use of proceeds; and the receipt of required regulatory approvals.

All statements in this news release that address events or developments that the Company expects to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made.

Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond LVG's control, including risks associated with or related to: the completion of the Private Placement on the terms described or at all; receipt of all required regulatory approvals; the availability of financing; the volatility of metal prices and LVG's common shares; actual exploration or development plans and costs differing materially from the Company's estimates; and other risks disclosed in the Company's public filings. LVG's forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. LVG does not assume any obligation to update forward-looking statements except as required by applicable law.

There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities LVG will derive therefrom. Undue reliance should not be placed on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302780 Newsfile Corp. June 25, 2026 - 12:01 AM PDT News by QuoteMedia www.quotemedia.com