Lake Victoria Gold’s flagship Imwelo Project is fully permitted and located in Tanzania’s Lake Victoria Goldfield, one of Africa’s most prolific gold districts. It sits just 12 kilometers from AngloGold Ashanti’s Geita Mine and adjacent to Barrick’s Bulyanhulu operation, positioning it within established infrastructure and mining corridors.

Recent metallurgical testwork confirmed free-milling characteristics: approximately 84% of gold is directly cyanide-leachable, gravity recovery ranges from 42% to 47%, and total recovery reaches about 97% using a conventional gravity and carbon-in-leach flowsheet. These results remove major metallurgical uncertainty and support a predictable economic model.

Strategic investors include Barrick Gold with 5.5 million shares and Tanzania’s mining billionaire Rostam Aziz, who committed C$11.52 million and holds 16 million shares. The company also retains up to US$45 million in milestone payments from a 2021 asset sale and has a gold prepay facility for additional runway.

A recent 21-hole drill program at Area C yielded intercepts like 11.88 g/t over 1.33 m and 9.31 g/t over 2.45 m, extending mineralization beyond current pit designs. The Tembo project shows artisanal sampling up to 35.45 g/t, with a 500 tpd processing agreement nearing completion, paving the way toward a production decision.