Lake Victoria GOLD Announces Results of the Annual and Special Meeting of Shareholders
LAKE VICTORIA GOLD ANNOUNCES RESULTS OF THE
ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS
Vancouver, British Columbia – May 7, 2025 – Lake Victoria Gold Ltd. (TSXV: LVG)
(OTCQB: LVGLF) (“Lake Victoria Gold” or the “Company ”) is pleased to report that at the A nnual
and Special M eeting of Shareholders of the Company (the “ Meeting”) held on May 7, 2025, the
shareholders elected Marc Cernovitch, Simon Benstead, David Scott, Frank Högel, Seth Dickinson, Dean
Comand and Richard Reynolds as directors of the Company.
Shareholders also passed ordinary resolutions to appoint D&H Group LLP, Chartered Professional
Accountants, as auditor of the Company , and approve a new 10% rolling omnibus equity incentive plan
(the “Equity Incentive Plan”). The Equity Incentive Plan, which is subject to final acceptance by the TSX
Venture Exchange, allows for the issuance of incentive stock options, deferred share units, performance
share units, restricted share units, stock appreciation rights and stock purchase rights (collectively the
“Awards”). The maximum number of shares reserved for issuance on exercise of all the Awards granted
under the Equity Incentive Plan shall not exceed 10% of the issued and outstanding common shares as at
the date of grant of any Award.
Following the Meeting, the directors appointed Marc Cernovitch as Chief Executive Officer of the
Company, Simon Benstead as Executive Chairman and Chief Financial Officer, David Scott as Managing
Director Tanzania, Seth Dickinson as Chief Operating Officer and Nick DeMare as Corporate Secretary.
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 we st 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 Gold 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
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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 t o the latest internationally recognized standards
throughout all aspects of its business.
On Behalf of the Board of Directors of the Company,
Simon Benstead
Executive Chairman & CFO
Phone: +1 604-685-9316
Email: [email protected]
For more information please contact:
Simon Benstead
Executive Chairman & CFO
Phone:+ 1 604-685-9316
Email: [email protected]
Marc Cernovitch
CEO & Director
Phone: +1 604-685-9316
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.