Lake Victoria Gold Ltd. (TSX-V: LVG) (OTCQB: LVGLF) (FSE: E1K) announces that in addition to the closing of the LIFE Private Placement announced on September 17, 2025, the Company is pleased to announce that it has now closed its non-brokered concurrent private placement through the issuance of 11,428,571 common shares of the Company at a price of $0.175 per Share, for gross proceeds to the Company of $2 million, to purchasers pursuant to applicable exemptions under NI 45-106. All securities issued in connection with the Concurrent Private Placement are subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws. The Company paid $7,007 cash and 40,040 finder’s warrants to Canaccord Genuity Corp. on a portion of the Concurrent Private Placement. Each finder’s warrant is exercisable to acquire one common share in the capital of the Company at a price of $0.175 per share for a period of three years following the completion of the Concurrent Private Placement. All finder’s warrants and securities underlying the finder’s warrants are subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.

Certain insiders of the Company participated in the Concurrent Private Placement and purchased in aggregate 3,823,800 Shares for a total of $669,165. The participation of any insiders may be considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. Such insider participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on any of the exchanges or markets outlined in subsection 5.5(b) of MI 61-101, and the fair market value of the securities to be distributed to the insiders will not exceed 25% of the Company’s market capitalization.

The Company intends to use the gross proceeds of the Concurrent Private Placement for general working capital purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder.

About Lake Victoria Gold (LVG):

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 50 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 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 recent 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 carry out 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.