Lake Victoria Provides Corporate Update: Handeni Properties, NI 43-101 Reports and 2011 Exploration Strategy
13 Gennaio 2011 - 3:05PM
Marketwired
Lake Victoria Mining Company, Inc. ("Lake Victoria" or the
"Company") (OTCBB: LVCA) has provided its 2011 exploration
strategy, its plans to pursue certain strategic property
acquisitions in the Handeni area of Tanzania and the preparation of
National Instrument 43-101 reports on its mineral projects.
Utilizing its Tanzanian technical team, the Company is reviewing
several strategic property acquisition opportunities in the Handeni
area of Tanzania. Each of the potential property acquisitions would
include areas of extensive small scale mining activities. The
Handeni Gold District in eastern Tanzania contains numerous
artisanal gold discoveries over several hundred kilometres. The
recent discovery of Magambazi on Canaco's Handeni Project has
upgraded the poorly known area to become a major gold exploration
province within Tanzania. There is no assurance that the Company
will complete any property acquisitions as planned or at all.
The Company has loaded its 2011 exploration strategy along with
drill sections from both, the Singida gold project and Musoma Bunda
- Kinyambwiga gold project, onto the Company's corporate website at
www.lvcamining.com. The 2011 exploration strategy is located within
the corporate presentation within the "News Releases" section of
the website and the drill sections are accessed at the top of the
Singida project and Musoma Bunda project web pages.
The Company expects that its entire Tanzania exploration team
will return to the field on January 14th and exploration is planned
at different stages to commence on 11 of the Company's gold
prospects throughout the first quarter of 2011. Depending on the
specific gold prospect, exploration may include drilling, soil and
rock sampling, trenching and pitting, ground magnetic and Induced
Polarization geophysical surveys and mapping. The Company's
exploration is aimed at advancing one or more of its projects to a
commercially feasible resource.
Four NI 43-101 Technical Reports are currently being prepared by
the Company's consulting geologists and the Company expects all of
them to be completed in January, 2011 specifically for the Singida,
Musoma Bunda (Kinyambwiga), Geita and Kalemela gold projects.
About the Company
Lake Victoria Mining Company, Inc. is working to create another
gold mine in the world famous Lake Victoria Greenstone Belt,
Tanzania, East Africa. Tanzania gold exports alone earned it $1.076
billion in 2009, up from $932.4 million the previous year. Lake
Victoria holds eight prospective gold projects and five uranium
projects within its Tanzania property portfolio. Additional
information regarding the Company is available on the corporate
website at: www.lakevictoriaminingcompany.com.
Forward Looking Statements
This news release may contain forward-looking statements or
information within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and within the meaning of
Canadian provincial securities laws applicable to the Company.
Forward-looking statements are typically identified by words such
as: "believe", "expect", "anticipate", "intend", "estimate", "will"
and similar expressions, or are those, which, by their nature,
refer to future events. Forward-looking statements or information
are subject to a variety of risks and uncertainties which could
cause actual events or results to differ from those reflected in
the forward-looking statements or information, including, without
limitation, risks and uncertainties relating to obtaining financing
to meet the Company's exploration programs and operating costs
during its exploratory stage, the interpretation of exploration
results and the estimation of mineral resources and reserves, the
geology, grade and continuity of mineral deposits, the possibility
that future exploration, inability to complete development or
mining results will not be consistent with the Company's
expectations, accidents, equipment breakdowns, title matters, or
other unanticipated difficulties with or interruptions in
production and operations, the potential for delays in exploration
or development activities or the completion of feasibility studies,
the inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, commodity price
fluctuations, currency fluctuations, regulatory restrictions,
including the inability to obtain mining permits and environmental
regulatory restrictions and liability, the speculative nature of
mineral exploration, dilution, competition, loss of key employees,
inability to negotiate the acquisition of properties on acceptable
commercial terms and other risks and uncertainties, including those
described under "Risk Factors" in the Company's Annual Report on
Form 10-K filed on July 14, 2010, which is on file with the
Securities and Exchange Commission, as well as the Company's
periodic filings available at www.sec.gov and with Canadian
Securities Administrators at www.sedar.com. Should one or more of
these risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements. Accordingly,
readers are advised not to place undue reliance on forward-looking
statements or information. The Company does not undertake any
obligation to release publicly revisions to any "forward-looking
statement," to reflect events or circumstances after the date of
this news release, or to reflect the occurrence of unanticipated
events, except as is required under applicable securities laws.
Cautionary note to U.S. Investors -- The United States
Securities and Exchange Commission permits U.S. mining companies,
in their filings with the SEC, to disclose only those mineral
deposits that a company can economically and legally extract or
produce. We use certain terms on this press release, such as
"mineralized zones" which the SEC guidelines strictly prohibit U.S.
registered companies from including in their filings with the SEC.
U.S. Investors are urged to consider closely the disclosures in our
annual report on Form 10-K. This press release contains information
about adjacent properties on which we have no right to explore or
mine. We advise U.S. investors that the SEC's mining guidelines
strictly prohibit information of this type in documents filed with
the SEC. U.S. Investors are cautioned that mineral deposits on
adjacent properties are not indicative of mineral deposits on our
properties.
Contacts: Lake Victoria Mining Company, Inc. David T. Kalenuik
President and CEO 303-586-1390 info@lvcamining.com
www.lakevictoriaminingcompany.com
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