Why Miners Win: Cheap Projects Now Produce Huge Gold Profits October 23, 2025 - Baystreet.ca Issued on behalf of Lake Victoria Gold Ltd. VANCOUVER – Baystreet.ca News Commentary – Gold retreated from $4,300 highs this week but remains firmly above $4,100 per ounce[1]; a price point few bet on six months ago. But many analysts are ignoring the noise, as major banks are still calling for gold to test $4,500 by mid-2026[2]. The real play right now is the widening gap between stable production costs and surging gold prices. This dynamic is creating super-leveraged profit margins for miners[3], a shift that historically kickstarts massive equity outperformance for companies positioned to deliver near-term production growth. This includes Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Tectonic Metals Inc. (TSXV: TECT) (OTCQB: TETOF), First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF), West Red Lake Gold Mines Ltd. (TSXV: WRLG) (OTCQB: WRLGF), and Liberty Gold Corp. (TSX: LGD) (OTCQX: LGDTF). Projects budgeted for $2,500 gold are now high-margin accelerators, unlocking massive value at current prices[4]. Analysts agree: Mining equities always lag the metal's initial run, but that recognition phase is accelerating hard as new quarterly results confirm the industry’s dramatic margin expansion[5]. Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) has already mobilized drilling at its highest-grade zone within the fully permitted Imwelo Gold Project in Tanzania, commencing a pivotal campaign at Area C that signals an transition toward near-term production. The second hole of the 24-hole, 4,000-metre campaign is now underway, through a program meticulously engineered to complete final pit design, lock-in resource confidence, and secure potential extensions at the high-priority starter pit. "Kicking off drilling at Area C is a tangible step toward first production at Imwelo," said Marc Cernovitch, President and CEO of Lake Victoria Gold. "This program is designed to tighten our final pit design, convert ounces where appropriate, and set up for grade-control drilling so that once construction begins we can move quickly into pre-strip and stockpiling." The drilling campaign addresses multiple strategic objectives: locking in definitive pit design with granular engineering inputs, upgrading the classification of existing historical gold resources, testing for mineralization beyond currently mapped zones, developing operational mining schedules, and refining gold recovery optimization. The opening hole is designed to penetrate deeper than prior drilling, testing Area C mineralization at roughly 120 metres depth on the western edge of the zone. Historical assays from this vicinity include an impressive 6.8 metres at 14.6 g/t gold at 32 m and 2.0 metres at 7.5 g/t from 22m, unequivocally confirming production-grade gold potential. "We've engineered this campaign to answer the last technical questions: slope angles, ramp geometry, and continuity down-dip and to the west," said Seth Dickinson, Chief Operating Officer of Lake Victoria Gold. "By combining RC with diamond tails we are keeping costs down without compromising core data quality." The drill mobilization follows LVG eliminating the final key regulatory barrier by reaching a pivotal agreement in principle with the Government of Tanzania on the statutory minimum $16% free carried interest. With environmental approval of the Updated Environmental and Social Management Plan also secured, the regulatory pathway is nowcleared for construction advancement. Situated just 12 kilometers from AngloGold Ashanti's flagship Geita mine, Imwelo operates under a 10-year renewable mining license with proven metallurgical recoveries surpassing 90%, translating to 90 cents of recoverable value per dollar of contained gold. Critically, Lake Victoria Gold targets first gold production within 12 months of breaking ground. Powerful financial momentum was fully secured by LVG with the closing of its oversubscribed $6 million financing in September, immediately followed by the closure of a concurrent $2 million private placement. The combined capital is now aggressively fueling key work programs designed to trigger the pre-paid forward purchase facility with Monetary Metals. This process successfully secures non-dilutive financing that targets fully funding the mine's construction capital. Beyond Imwelo, the Tembo Project delivers signficant optionality via a planned 3,000m drilling program at Ngula 1, where historical intercepts of 28.57 g/t gold over 3 metres signal immediate toll milling opportunity. The company retains exposure to up to US$45 million in high-upside contingent milestone payments from the 2021 asset sale to Barrick's Bulyanhulu operation. The timing proves supremely strategic. With gold recently eclipsing a historic $4,300 per ounce for the first time in history, Lake Victoria Gold is mobilizing equipment at a fully permitted project in one of Africa's premier gold districts precisely when high-grade ounces command maximum, unprecedented value. This confluence—regulatory clearances, still-high historic metal prices, and active field programs across two projects—positions LVG at the convergence of technical de-risking and an unprecedented market opportunity. NOTE: For a Cautionary Note on Production Decision, please see the Disclaimer below. CONTINUED… Read this and more news for Lake Victoria Gold at: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/ In other industry developments and happenings in the market include: Tectonic Metals Inc. (TSXV: TECT) (OTCQB: TETOF) has commenced Phase Two drilling at its flagship Flat Gold Project in southwestern Alaska, targeting over 9,000 metres with three active rigs through late October 2025. Combined with Phase One results, the company expects to complete over 16,000 metres in 2025, the largest drill campaign in both company and project history, with systematic drilling focused on Chicken Mountain to support a maiden mineral resource estimate. "Phase One at Flat delivered on every objective, with over 7,700 metres drilled across multiple intrusion targets, and our very first hole of the 2025 returned two strong zones of mineralization, including high-grade gold such as 4.0 g/t Au over 21.34m with 13.55 g/t Au over 4.27m," said Peter Kleespies, Vice President of Exploration of Tectonic Metals. "Phase Two builds on that momentum with systematic delineation drilling at Chicken Mountain – the largest and most advanced system on the property – while also stepping out at Alpha Bowl, where we have made one of Alaska's newest high-grade gold discoveries." The company is also making significant investments in logistics and infrastructure to enable an early spring 2026 restart and establish year-round operating capacity at the 99,840-acre property. Tectonic's strategic position near the world-class Donlin Gold Project, combined with strong backing from second-largest shareholder Doyon, Ltd., positions Flat as an emerging tier-one, free-milling, heap-leachable gold opportunity in one of Alaska's most prospective gold districts. First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF) has expanded the newly discovered Miroir target at its Duparquet Gold Project in Quebec with drill hole DUP25-064 returning 3.23 grams per tonne gold over 25.9 metres, including higher-grade intervals of 11.20 grams per tonne gold over 2.0 metres, extending the gold zone to 100 metres depth. The company has completed approximately 20 holes totaling around 4,450 metres at Miroir as part of a larger 16,000 metre drilling program across multiple growth targets. "The Miroir target continues to deliver new discoveries within the largely underexplored volcanic setting of the Duparquet Project," said Dan Wilton, CEO of First Mining. "The strong grades and widths encountered to date provide new and exciting opportunities in our review of development scenarios that can now include near-surface, higher grade mineralization potential." Recent drilling confirms the gold zone continues along strike, with drill hole DUP25-066 returning 1.37 grams per tonne gold over 30.6 metres located 45 metres east of DUP25-064. The Miroir target, together with the nearby CVD and Aiguille targets, represents a cluster of growth opportunities at the Duparquet Project, which currently hosts 3.44 million ounces in the Measured & Indicated category and 2.64 million ounces in the Inferred category. West Red Lake Gold Mines Ltd. (TSXV: WRLG) (OTCQB: WRLGF) has intersected a new high-grade gold lens in lower Main Austin with drill hole MM25D-12-4860-004 returning 139.45 grams per tonne gold over 7.8 metres, including an exceptional 532.25 grams per tonne gold over 2.0 metres, at approximately 600 meters below surface. This marks the first time underground drills have accessed these deeper parts of the gold deposit since mining stopped in the 1960s, revealing significant untapped potential in an area that has remained largely unexplored for over 60 years. "We are only just beginning to get the underground drills into the lower portions of the main Austin Zone and we are already being rewarded with very high-grade, broad intercepts of gold mineralization – very similar to the high-grade lenses we have been defining in South Austin," said Shane Williams, President and CEO of West Red Lake Gold. "As expected, there is significant ounce and tonnage potential remaining at depth in the Madsen orebody." Additional results from the Austin drilling include 74.70 grams per tonne gold over 8.7 metres and 18.31 grams per tonne gold over 7.45 metres, with visible gold observed in multiple holes. The Austin Zone currently contains over 1 million ounces of gold resources, with the new high-grade results demonstrating strong expansion potential at depth similar to the previously discovered South Austin high-grade zones. Liberty Gold Corp. (TSX: LGD) (OTCQX: LGDTF) has expanded near-surface gold mineralization at the Rangefront Zone with drill hole LBP1145 returning 0.41 grams per tonne gold over 41.1 metres at just 45 metres below surface, as part of its ongoing 40,000 metre drill program at the Black Pine Gold Project in Idaho. Recent drilling has expanded the shallow gold zone to over 150 meters wide in one direction and over 200 meters wide in another, which could significantly improve mining economics by reducing the amount of rock that needs to be moved to access gold. "As highlighted last month, Rangefront just keeps getting better," said Jon Gilligan, President and CEO of Liberty Gold. "The latest results reinforce our view that Rangefront will play a central role in the future Black Pine mine plan." Infill drilling continues to add gold ounces in areas previously considered waste rock, with additional strong results including 0.92 grams per tonne gold over 35.1 metres in hole LBP1141 and 0.37 grams per tonne gold over 71.6 metres in hole LBP1144. The Rangefront Zone currently contains nearly 2 million ounces of gold and is emerging as a key growth area conveniently located next to existing infrastructure and the proposed processing facility, with mineralization remaining open in all directions and an updated resource study planned to begin in Q4 2025. Article Source: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/ Baystreet.ca [email protected] (805) 649-0042 DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Baystreet.ca is owned by Baystreet.ca Media Corp. (“BAY”). BAY has been paid a fee for Lake Victoria Gold Ltd. advertising and digital media from a shareholder of the Company (333,333 unrestricted shares). There may be 3rd parties who may have shares of Lake Victoria Gold Ltd., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of “BAY” reserve the right to buy and sell, and will buy and sell shares of Lake Victoria Gold Ltd. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by BAY has been approved by Lake Victoria Gold Ltd. Technical information relating to Lake Victoria Gold Ltd. has been reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person as defined by National Instrument 43-101. Mr. Scott is a registered member of the South African Council for Natural Scientific Professions (SACNASP) and is a Director of Lake Victoria Gold Ltd., and therefore is not independent of the Company; Cautionary Note on Production Decision: The Company cautions that it has not completed a feasibility study on the Imwelo Project that establishes mineral reserves demonstrating economic and technical viability. As a result, there is increased uncertainty and a higher risk of economic and technical failure associated with the Company’s production decision. In particular, there is no certainty that the planned low-capex open-pit operation will be economically viable or that planned production will occur as anticipated. Risks include, but are not limited to, variations in grade and recovery, unexpected geotechnical or metallurgical challenges, cost overruns, funding availability, and operational or permitting risks.; this is a paid advertisement, we currently own shares of Lake Victoria Gold Ltd. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. -- SOURCES CITED: 1. https://www.kitco.com/news/article/2025-10-22/gold-prices-fall-200-after-hitting-record-high-above-4300 2. https://www.cnbc.com/2025/10/18/gold-price-forecasts-remain-elevated-despite-pullback.html 3. https://www.reuters.com/markets/commodities/gold-miners-earnings-surge-metal-prices-hit-records-2025-10-15/ 4. https://www.mining.com/gold-miners-reassess-projects-as-prices-surge-2025-10/ 5. https://www.kitco.com/news/article/2025-10-19/why-gold-stocks-lag-metal-price-moves
Why Miners Win: Cheap Projects Now Produce Huge Gold Profits October 23, 2025 - Baystreet.ca Issued on behalf of Lake Victoria Gold Ltd. VANCOUVER – Baystreet.ca News Commentary – Gold retreated from $4,300 highs this week but remains firmly above $4,100 per ounce[1]; a price point few bet on six months ago. But many analysts are ignoring the noise, as major banks are still calling for gold to test $4,500 by mid-2026[2]. The real play right now is the widening gap between stable production costs and surging gold prices. This dynamic is creating super-leveraged profit margins for miners[3], a shift that historically kickstarts massive equity outperformance for companies positioned to deliver near-term production growth. This includes Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Tectonic Metals Inc. (TSXV: TECT) (OTCQB: TETOF), First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF), West Red Lake Gold Mines Ltd. (TSXV: WRLG) (OTCQB: WRLGF), and Liberty Gold Corp. (TSX: LGD) (OTCQX: LGDTF). Projects budgeted for $2,500 gold are now high-margin accelerators, unlocking massive value at current prices[4]. Analysts agree: Mining equities always lag the metal's initial run, but that recognition phase is accelerating hard as new quarterly results confirm the industry’s dramatic margin expansion[5]. Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) has already mobilized drilling at its highest-grade zone within the fully permitted Imwelo Gold Project in Tanzania, commencing a pivotal campaign at Area C that signals an transition toward near-term production. The second hole of the 24-hole, 4,000-metre campaign is now underway, through a program meticulously engineered to complete final pit design, lock-in resource confidence, and secure potential extensions at the high-priority starter pit. "Kicking off drilling at Area C is a tangible step toward first production at Imwelo," said Marc Cernovitch, President and CEO of Lake Victoria Gold. "This program is designed to tighten our final pit design, convert ounces where appropriate, and set up for grade-control drilling so that once construction begins we can move quickly into pre-strip and stockpiling." The drilling campaign addresses multiple strategic objectives: locking in definitive pit design with granular engineering inputs, upgrading the classification of existing historical gold resources, testing for mineralization beyond currently mapped zones, developing operational mining schedules, and refining gold recovery optimization. The opening hole is designed to penetrate deeper than prior drilling, testing Area C mineralization at roughly 120 metres depth on the western edge of the zone. Historical assays from this vicinity include an impressive 6.8 metres at 14.6 g/t gold at 32 m and 2.0 metres at 7.5 g/t from 22m, unequivocally confirming production-grade gold potential. "We've engineered this campaign to answer the last technical questions: slope angles, ramp geometry, and continuity down-dip and to the west," said Seth Dickinson, Chief Operating Officer of Lake Victoria Gold. "By combining RC with diamond tails we are keeping costs down without compromising core data quality." The drill mobilization follows LVG eliminating the final key regulatory barrier by reaching a pivotal agreement in principle with the Government of Tanzania on the statutory minimum $16% free carried interest. With environmental approval of the Updated Environmental and Social Management Plan also secured, the regulatory pathway is nowcleared for construction advancement. Situated just 12 kilometers from AngloGold Ashanti's flagship Geita mine, Imwelo operates under a 10-year renewable mining license with proven metallurgical recoveries surpassing 90%, translating to 90 cents of recoverable value per dollar of contained gold. Critically, Lake Victoria Gold targets first gold production within 12 months of breaking ground. Powerful financial momentum was fully secured by LVG with the closing of its oversubscribed $6 million financing in September, immediately followed by the closure of a concurrent $2 million private placement. The combined capital is now aggressively fueling key work programs designed to trigger the pre-paid forward purchase facility with Monetary Metals. This process successfully secures non-dilutive financing that targets fully funding the mine's construction capital. Beyond Imwelo, the Tembo Project delivers signficant optionality via a planned 3,000m drilling program at Ngula 1, where historical intercepts of 28.57 g/t gold over 3 metres signal immediate toll milling opportunity. The company retains exposure to up to US$45 million in high-upside contingent milestone payments from the 2021 asset sale to Barrick's Bulyanhulu operation. The timing proves supremely strategic. With gold recently eclipsing a historic $4,300 per ounce for the first time in history, Lake Victoria Gold is mobilizing equipment at a fully permitted project in one of Africa's premier gold districts precisely when high-grade ounces command maximum, unprecedented value. This confluence—regulatory clearances, still-high historic metal prices, and active field programs across two projects—positions LVG at the convergence of technical de-risking and an unprecedented market opportunity. NOTE: For a Cautionary Note on Production Decision, please see the Disclaimer below. CONTINUED… Read this and more news for Lake Victoria Gold at: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/ In other industry developments and happenings in the market include: Tectonic Metals Inc. (TSXV: TECT) (OTCQB: TETOF) has commenced Phase Two drilling at its flagship Flat Gold Project in southwestern Alaska, targeting over 9,000 metres with three active rigs through late October 2025. Combined with Phase One results, the company expects to complete over 16,000 metres in 2025, the largest drill campaign in both company and project history, with systematic drilling focused on Chicken Mountain to support a maiden mineral resource estimate. "Phase One at Flat delivered on every objective, with over 7,700 metres drilled across multiple intrusion targets, and our very first hole of the 2025 returned two strong zones of mineralization, including high-grade gold such as 4.0 g/t Au over 21.34m with 13.55 g/t Au over 4.27m," said Peter Kleespies, Vice President of Exploration of Tectonic Metals. "Phase Two builds on that momentum with systematic delineation drilling at Chicken Mountain – the largest and most advanced system on the property – while also stepping out at Alpha Bowl, where we have made one of Alaska's newest high-grade gold discoveries." The company is also making significant investments in logistics and infrastructure to enable an early spring 2026 restart and establish year-round operating capacity at the 99,840-acre property. Tectonic's strategic position near the world-class Donlin Gold Project, combined with strong backing from second-largest shareholder Doyon, Ltd., positions Flat as an emerging tier-one, free-milling, heap-leachable gold opportunity in one of Alaska's most prospective gold districts. First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF) has expanded the newly discovered Miroir target at its Duparquet Gold Project in Quebec with drill hole DUP25-064 returning 3.23 grams per tonne gold over 25.9 metres, including higher-grade intervals of 11.20 grams per tonne gold over 2.0 metres, extending the gold zone to 100 metres depth. The company has completed approximately 20 holes totaling around 4,450 metres at Miroir as part of a larger 16,000 metre drilling program across multiple growth targets. "The Miroir target continues to deliver new discoveries within the largely underexplored volcanic setting of the Duparquet Project," said Dan Wilton, CEO of First Mining. "The strong grades and widths encountered to date provide new and exciting opportunities in our review of development scenarios that can now include near-surface, higher grade mineralization potential." Recent drilling confirms the gold zone continues along strike, with drill hole DUP25-066 returning 1.37 grams per tonne gold over 30.6 metres located 45 metres east of DUP25-064. The Miroir target, together with the nearby CVD and Aiguille targets, represents a cluster of growth opportunities at the Duparquet Project, which currently hosts 3.44 million ounces in the Measured & Indicated category and 2.64 million ounces in the Inferred category. West Red Lake Gold Mines Ltd. (TSXV: WRLG) (OTCQB: WRLGF) has intersected a new high-grade gold lens in lower Main Austin with drill hole MM25D-12-4860-004 returning 139.45 grams per tonne gold over 7.8 metres, including an exceptional 532.25 grams per tonne gold over 2.0 metres, at approximately 600 meters below surface. This marks the first time underground drills have accessed these deeper parts of the gold deposit since mining stopped in the 1960s, revealing significant untapped potential in an area that has remained largely unexplored for over 60 years. "We are only just beginning to get the underground drills into the lower portions of the main Austin Zone and we are already being rewarded with very high-grade, broad intercepts of gold mineralization – very similar to the high-grade lenses we have been defining in South Austin," said Shane Williams, President and CEO of West Red Lake Gold. "As expected, there is significant ounce and tonnage potential remaining at depth in the Madsen orebody." Additional results from the Austin drilling include 74.70 grams per tonne gold over 8.7 metres and 18.31 grams per tonne gold over 7.45 metres, with visible gold observed in multiple holes. The Austin Zone currently contains over 1 million ounces of gold resources, with the new high-grade results demonstrating strong expansion potential at depth similar to the previously discovered South Austin high-grade zones. Liberty Gold Corp. (TSX: LGD) (OTCQX: LGDTF) has expanded near-surface gold mineralization at the Rangefront Zone with drill hole LBP1145 returning 0.41 grams per tonne gold over 41.1 metres at just 45 metres below surface, as part of its ongoing 40,000 metre drill program at the Black Pine Gold Project in Idaho. Recent drilling has expanded the shallow gold zone to over 150 meters wide in one direction and over 200 meters wide in another, which could significantly improve mining economics by reducing the amount of rock that needs to be moved to access gold. "As highlighted last month, Rangefront just keeps getting better," said Jon Gilligan, President and CEO of Liberty Gold. "The latest results reinforce our view that Rangefront will play a central role in the future Black Pine mine plan." Infill drilling continues to add gold ounces in areas previously considered waste rock, with additional strong results including 0.92 grams per tonne gold over 35.1 metres in hole LBP1141 and 0.37 grams per tonne gold over 71.6 metres in hole LBP1144. The Rangefront Zone currently contains nearly 2 million ounces of gold and is emerging as a key growth area conveniently located next to existing infrastructure and the proposed processing facility, with mineralization remaining open in all directions and an updated resource study planned to begin in Q4 2025. Article Source: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/ Baystreet.ca [email protected] (805) 649-0042 DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Baystreet.ca is owned by Baystreet.ca Media Corp. (“BAY”). BAY has been paid a fee for Lake Victoria Gold Ltd. advertising and digital media from a shareholder of the Company (333,333 unrestricted shares). There may be 3rd parties who may have shares of Lake Victoria Gold Ltd., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of “BAY” reserve the right to buy and sell, and will buy and sell shares of Lake Victoria Gold Ltd. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by BAY has been approved by Lake Victoria Gold Ltd. Technical information relating to Lake Victoria Gold Ltd. has been reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person as defined by National Instrument 43-101. Mr. Scott is a registered member of the South African Council for Natural Scientific Professions (SACNASP) and is a Director of Lake Victoria Gold Ltd., and therefore is not independent of the Company; Cautionary Note on Production Decision: The Company cautions that it has not completed a feasibility study on the Imwelo Project that establishes mineral reserves demonstrating economic and technical viability. As a result, there is increased uncertainty and a higher risk of economic and technical failure associated with the Company’s production decision. In particular, there is no certainty that the planned low-capex open-pit operation will be economically viable or that planned production will occur as anticipated. Risks include, but are not limited to, variations in grade and recovery, unexpected geotechnical or metallurgical challenges, cost overruns, funding availability, and operational or permitting risks.; this is a paid advertisement, we currently own shares of Lake Victoria Gold Ltd. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. -- SOURCES CITED: 1. https://www.kitco.com/news/article/2025-10-22/gold-prices-fall-200-after-hitting-record-high-above-4300 2. https://www.cnbc.com/2025/10/18/gold-price-forecasts-remain-elevated-despite-pullback.html 3. https://www.reuters.com/markets/commodities/gold-miners-earnings-surge-metal-prices-hit-records-2025-10-15/ 4. https://www.mining.com/gold-miners-reassess-projects-as-prices-surge-2025-10/ 5. https://www.kitco.com/news/article/2025-10-19/why-gold-stocks-lag-metal-price-moves