Lake Victoria Gold Ltd. Announces Strategic Private Placement

Lake Victoria Gold Ltd. has announced a non-binding term sheet with HOB Energy FZCO for a strategic non-brokered private placement. The agreement will involve the issuance of 90,733,960 common shares at a price of $0.30 per share, expected to generate aggregate gross proceeds of $27,220,188. The funds will be used to advance the company's gold projects.