Lake Victoria Gold defines 480,100 inferred oz at Tembo adjacent to Barrick's Bulyanhulu

Higher-grade component includes 331,700 Inferred ounces at 2.15 g/t and 68,600 Indicated ounces at 2.00 g/t at a 1.00 g/t cut-off; Ngula 1 prioritized for close-spaced drilling and future mine planning

Vancouver, British Columbia--(Newsfile Corp. - August 11, 2026) - Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) ("LVG" or the "Company") is pleased to announce the maiden National Instrument 43-101 ("NI 43-101") Mineral Resource Estimate ("MRE") for its 100%-owned Tembo Gold Project ("Tembo" or the "Project") in northwestern Tanzania, immediately adjacent to Barrick's Bulyanhulu Mine. The MRE comprises an Inferred Mineral Resource of 13.33 Mt at 1.12 g/t gold containing 480,100 ounces and an Indicated Mineral Resource of 2.69 Mt at 1.16 g/t gold containing 99,700 ounces across three near-surface deposits.

At a 1.00 g/t cut-off, the MRE retains an Inferred Mineral Resource of 4.79 Mt at 2.15 g/t gold containing 331,700 ounces and an Indicated Mineral Resource of 1.07 Mt at 2.00 g/t gold containing 68,600 ounces, demonstrating a meaningful higher-grade component. Ngula 1 hosts approximately 56% of the Project's Inferred ounces and 63% of its Indicated ounces and will be the initial focus of the Company's planned close-spaced drilling, resource conversion and future mine-planning work. In parallel, LVG continues to advance its previously announced toll-milling initiative with Nyati Resources (T) Limited as a potential capital-efficient route for processing near-surface material from Ngula 1.

The maiden estimate transforms Tembo from a high-grade drill story into a defined resource on granted Mining Licences, with a pathway to growth and, potentially, near-term production. Much of Nyakagwe Village and Nyakagwe East remains classified as Inferred largely because of wider drill spacing, providing a clear opp