Lake Victoria Gold Completes Initial Access Road Repairs and Advances Site Earthworks at Imwelo Gold Project
TSXV: LVG | OTCQB: LVGLF | FRA: E1K
Access-road repairs completed, site earthworks advancing and construction camp substantially complete at the fully permitted Imwelo Gold Project in Tanzania
Overview
Lake Victoria Gold Ltd. announced an update on early works at its wholly owned Imwelo Gold Project in the Chato District of Tanzania's Geita Region, according to the company. The company stated that initial spot repairs on the Katoro-to-Imwelo access road have been completed, clearing, stripping and levelling are advancing across key process and infrastructure areas, and the construction camp is substantially complete, collectively establishing core infrastructure for the next phase of development.
The announcement was made from Vancouver, British Columbia, on Sept. 3, 2026, according to the press release.
Key Highlights
- Initial spot repairs have been completed along the 14 km access road from Katoro, the nearest large town, to Imwelo village at the project site, improving access ahead of the wet season, according to the company. Compaction of repaired sections is continuing.
- The construction camp is substantially complete, with core utilities and amenities installed and the water system pressure-tested, according to the company. The build-once camp will transition into Imwelo's permanent operations camp.
- Clearing and bulk earthworks are advancing across the pit, tailings storage facility, waste rock dump and dam sites, according to the company. Bush clearing is underway at Area C and will then move to the process plant area.
- Stripping and levelling of the run of mine (ROM) pad has commenced, according to the company. Excavated material is being used to construct the western berm within the mining licence boundary.
- A local Tanzanian contractor is delivering the works, with the road programme supervised in coordination with the Tanzania Rural and Urban Roads Agency (TARURA) and benefiting surrounding communities, according to the company.
Access Road Repairs, Katoro to Imwelo
According to the company, a local Tanzanian contractor completed the initial spot repairs in coordination with the Tanzania Rural and Urban Roads Agency (TARURA). Following a survey of the full route, the worst-affected sections were prioritized for repair ahead of the wet season, which typically begins in late October or November, according to the company. Spot repairs were completed over 14 km using quality laterite sourced from within the mining licence. Compaction is continuing, with a compactor and water bowser remaining on the road while the balance of the fleet moves to site for earthworks, the company stated.
The company said the repairs support safe and reliable transport of materials, equipment and fuel to the project site, and also improve the movement of people and supplies to outlying villages. A broader, long-term upgrade of the all-weather dirt road is contemplated, according to the company.
Site Clearing and Earthworks
At the project site, bush clearing is underway at Area C and will progress to the process plant area, according to the company. Clearing and topsoil stripping are also advancing at the pit, tailings storage facility (TSF), waste rock dump and dam sites. Topsoil is being stockpiled as a berm between the production area and future camp to provide a sound barrier, the company stated.
Stripping and levelling of the run of mine (ROM) pad has commenced, according to the company, with excavated material being used to construct the western berm within the mining licence boundary. Levelling and cutting of the process plant platform will follow ahead of civil works, with TSF preparation sequenced thereafter, according to the company.
Camp Infrastructure
Development of the Imwelo construction camp is now substantially complete, according to the company. Electrical installation, drainage, bathroom facilities and the generator shelter have been completed, and the water system has been pressure-tested, following earlier installation of water storage, power generation and plumbing, the company stated.
According to the company, the build-once camp is the first phase of Imwelo's permanent operations camp, allowing infrastructure used by the construction workforce to remain in service during operations. The company stated that this avoids duplicated expenditure and supports disciplined capital deployment.
Management Commentary
Marc Cernovitch, President and CEO of Lake Victoria Gold, commented: "These early works mark an important step as we move Imwelo from a fully permitted, development-ready asset toward construction. Reliable site access, preparation of the core infrastructure footprints and a substantially complete build-once camp are essential to that transition and reflect our practical, disciplined approach to development. The programme is being delivered by a local Tanzanian contractor in coordination with TARURA, supporting project execution while creating lasting benefits for surrounding communities."
Cautionary Note on Production Decision
According to the company, 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, the company stated. 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, according to the company. 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, according to the company.
Qualified Person
The scientific and technical information contained in the press release was reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, according to the company. Mr. Scott is a Director and Officer of the Company.
What to Watch Next
- Continued compaction of repaired access-road sections, according to the company.
- Progression of bush clearing from Area C to the process plant area, according to the company.
- Levelling and cutting of the process plant platform, followed by sequenced TSF preparation, according to the company.
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.
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