Lake Victoria Gold Limited has completed the statutory disclosure stage of the Phase 3 land valuation and compensation programme at its fully permitted Imwelo Gold Project in Tanzania’s Chato District, reaching the milestone approximately five weeks after the programme commenced.

A large majority of Project Affected Persons have signed the full statutory valuation documentation following disclosure meetings held on September 7 and 8 with district authorities and village leadership. The process positions participating landholders for compensation once the final valuation report receives endorsement from the Office of the Chief Government Valuer.

During the disclosure process, the company expanded the programme scope after certain landholders requested full property acquisitions because remaining areas were insufficient to support their livelihoods. The adjustment secures additional acreage that Lake Victoria Gold anticipates may be required for future project development.

The Phase 3 land programme follows earlier property acquisition stages at the project, building on Phase 1 which covered 268 acres in 2019 and Phase 2 which covered 185 acres in 2023. The Imwelo property is held under a 10-year mining license, ML 538/2015, which was renewed and transferred to the company in November 2024.

With statutory disclosure finalized, the government valuation team is preparing the final valuation report for endorsement. Meanwhile, Lake Victoria Gold continues to advance parallel site workstreams, including plans to complete the process plant platform ahead of civil works and tailings storage preparation.

“Land access is one of the areas where mining projects can lose significant time. At Imwelo, we have now completed three successive land programmes, and the process continues to demonstrate the value of a clear regulatory framework, effective coordination with government authorities and constructive engagement with the local community,” said Marc Cernovitch, President and CEO.

“The Phase 3 programme moved from commencement to disclosure in approximately five weeks, and that reflects the work of the officials, valuers, community leaders and landholders involved. We also responded when two families asked us to acquire their entire parcels because the land that would otherwise have remained was not sufficient to support their livelihoods. We believe that was the appropriate outcome for the families and for the Project. It is the standard of engagement we intend to maintain throughout Imwelo's development and across our operations.”

— Marc Cernovitch, President and CEO

Read the full announcement: LAKE VICTORIA GOLD ADVANCES IMWELO PHASE 3 LAND PROGRAMME TOWARD FINAL APPROVAL AND COMPENSATION