Lake Victoria Mining Company to provide an update on the progress of acquiring a Mining License for its open pit gold mining project near the town of Bunda in northern Tanzania. On August 2, 2013 the company completed and filed with the Tanzanian government the required Environmental and Social Impact Assessment Report. Acceptance of the ESIA report is necessary before the government can move towards awarding a mining license.

TANSHEQ, an experienced Tanzanian consulting firm specializing in environmental management, was awarded the contract to complete the Environmental Impact Assessment study for an open pit gold mine at Kunanga 1 (K-1), a location within the larger Kinyambwiga project area. The company, through its 100% owned Tanzanian subsidiary, has applied and been granted an additional 15 Primary Mining Licenses (PML's), adjoining and covering the area immediately south and north of the current 24 PML boundary. These 15 additional PMLs include at least 2 new gold occurrences known as Kunanga 2 (K-2) and 3 (K-3).

The area enclosed within the company's PML's now totals 3.44 square kilometers, and will support conditions and terms within the ESIA report as well as requirements for a Mining License application.