Lake Victoria Gold Limited has formally initiated its first land access and compensation programme at the Tembo Gold Project in Tanzania, submitting an application to the Geita District Council to appoint statutory valuation officers over the Ngula 1 deposit.

The Phase 1 programme covers 111.32 acres at Ngula Village, comprising 88.51 acres within the company's mining licence area and 22.81 acres associated with primary mining licences held by Nyati Resources. Lake Victoria Gold is applying the statutory land access process it previously executed three times to completion at its fully permitted Imwelo Gold Project.

The company is targeting completion of the compensation process for early October 2026. The 111.32-acre area sits directly over Ngula 1, which hosts the majority of the ounces in the company's maiden Tembo Mineral Resource Estimate, consisting of 8.12 million inferred tonnes at 1.03 g/t gold for 267,900 ounces and 1.78 million indicated tonnes at 1.10 g/t gold for 62,700 ounces. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

Earlier announcements reported the evaluation of a small-scale development concept and a non-binding letter of intent with Nyati Resources, whereas the current release marks the formal initiation of the Phase 1 statutory land valuation and compensation programme. Orderly surface access is a prerequisite for future work on the deposit, including a planned 4,000 to 5,000-metre close-spaced drilling programme on an approximately 20-metre by 20-metre pattern.

“We are taking the playbook that has worked at Imwelo and applying it at Tembo, starting at Ngula 1 because that is where our resource is concentrated and where our next phase of work is directed.” — Marc Cernovitch, President and Chief Executive Officer

The land access initiative also supports the company's previously announced toll-milling arrangement with Nyati Resources, under which a 500-tonne-per-day processing plant would handle material from the project.

Read the full announcement: Lake Victoria Gold Initiates First Land Compensation Programme at Tembo, Covering 111.32 Acres Over the Ngula 1 Deposit