# LAKE VICTORIA GOLD ANNOUNCES MAIDEN MINERAL RESOURCE AT TEMBO OF 480,100 INFERRED AND 99,700 INDICATED OUNCES, ADJACENT TO BARRICK'S BULYANHULU MINE Lake Victoria Gold Ltd. \(TSXV: LVG\) \(OTCQB: LVGLF\) \(FSE: E1K\) \("LVG" or the "Company"\) is pleased to announce the maiden National Instrument 43-101...

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--afa03024-7b59-4e26-8e16-aa3c75868424

Original source: https://www.prnewswire.com/news-releases/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferred-and-99-700-indicated-ounces-adjacent-to-barricks-bulyanhulu-mine-302848568.html

Publisher: prnewswire

Original announcement: 2026-08-18T17:16:53.280Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Lake Victoria Gold Ltd.

- Ticker: LVG

- Exchange: Unavailable

- Region: northwestern Tanzania

- Primary commodity: Gold

- Secondary commodities: None reported

- Document categories: Resource update

- Extracted: 2026-08-24 04:20:59 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Lake Victoria Gold Ltd. has announced a maiden NI 43-101 compliant Mineral Resource Estimate for its Tembo Gold Project in northwestern Tanzania, reporting 480,100 Inferred ounces and 99,700 Indicated ounces of gold. This initial estimate, which includes a significant higher-grade component, transforms the project from an exploration target into a defined resource. The company plans further drilling to upgrade confidence and advance mine planning, aiming for potential near-term production.

Reasoning: The announcement of a maiden NI 43-101 compliant Mineral Resource Estimate for the Tembo Gold Project is a significant positive milestone, establishing a substantial gold resource with a robust higher-grade component and clear pathways for future development and resource conversion, despite the early-stage nature with a large inferred component.

- Positive factor: Maiden Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Higher-grade component identified

- Positive factor: Potential for resource conversion and growth

- Positive factor: Adjacent to major mine

- Negative factor: Mostly Inferred Resource

- Negative factor: Mineral Resources are not Mineral Reserves

- Negative factor: No economic viability demonstrated yet

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 13

## Classification and evidence

**Maiden Resource**

Polarity: neutral

Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.

Why it applies: The document announces the 'maiden National Instrument 43-101 Mineral Resource Estimate'.

Evidence · text

> maiden National Instrument 43-101 \("NI 43-101"\) Mineral Resource Estimate \("MRE"\)

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The MRE was 'prepared in accordance with NI 43-101'.

Evidence · text

> prepared in accordance with NI 43-101

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: The MRE was prepared by independent Qualified Persons Noleen D. Pauls and Dean Richards, and reviewed/approved by David Scott, a Qualified Person.

Evidence · text

> Noleen D. Pauls \(M.Sc., Pr. Sci. Nat., FGSSA\) and Dean Richards \(B.Sc. \(Hons\), Pr. Sci. Nat., MGSSA\) of Obsidian Consulting Services, each a Qualified Person as defined under NI 43-101 and independent of the Company. The Mineral Resource Estimate was prepared by Mr. Richards. The scientific and technical information in this news release has been reviewed and approved by David Scott, Pr. Sci. Nat., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The MRE includes a significant 'Inferred Mineral Resource of 13.33 Mt at 1.12 g/t gold containing 480,100 ounces'.

Evidence · text

> Inferred Mineral Resource of 13.33 Mt at 1.12 g/t gold containing 480,100 ounces

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: The MRE includes an 'Indicated Mineral Resource of 2.69 Mt at 1.16 g/t gold containing 99,700 ounces'.

Evidence · text

> Indicated Mineral Resource of 2.69 Mt at 1.16 g/t gold containing 99,700 ounces

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: The company states that 'no Mineral Reserves have been estimated and Mineral Resources do not have demonstrated economic viability', indicating an early-stage study level.

Evidence · text

> The Company has not completed a preliminary economic assessment, pre-feasibility study or feasibility study for the Tembo Project, no Mineral Reserves have been estimated and Mineral Resources do not have demonstrated economic viability.

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: The resource is reported at a 'cut-off grade of 0.25 g/t Au' and sensitivity at '1.00 g/t cut-off' and '1.50 g/t cut-off'.

Evidence · text

> reported at a cut-off grade of 0.25 g/t Au

## Extracted facts

Stored fact records: 13. Some facts used in scoring do not have a stored record.

## Resource Estimates (13)

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--afa03024-7b59-4e26-8e16-aa3c75868424#fact-resource-facts-0)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource Data

- Category: indicated
- Tonnes: 1780000
- Grade: 1.1
- Grade Unit: g/t
- Contained Metal: 62700
- Contained Unit: oz
- Cutoff Grade: 0.25

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-18T00:00:00.000Z

Reasoning: Indicated resource at Ngula 1 contributes to the maiden MRE, establishing a moderate grade resource.

- Positive factor: Maiden Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Cut-off Disclosed

Evidence · table

> 1.10

Context: 1.78

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--afa03024-7b59-4e26-8e16-aa3c75868424#fact-resource-facts-1)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource Data

- Category: indicated
- Tonnes: 910000
- Grade: 1.27
- Grade Unit: g/t
- Contained Metal: 37000
- Contained Unit: oz
- Cutoff Grade: 0.25

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-18T00:00:00.000Z

Reasoning: Indicated resource at Nyakagwe Village contributes to the maiden MRE, establishing a moderate grade resource.

- Positive factor: Maiden Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Cut-off Disclosed

Evidence · table

> 1.27

Context: 0.91

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--afa03024-7b59-4e26-8e16-aa3c75868424#fact-resource-facts-2)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource Data

- Category: indicated
- Tonnes: 2690000
- Grade: 1.16
- Grade Unit: g/t
- Contained Metal: 99700
- Contained Unit: oz
- Cutoff Grade: 0.25

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-18T00:00:00.000Z

Reasoning: Total Indicated resource for the Tembo project, a key component of the maiden MRE, showing moderate grade but weak M&I confidence overall.

- Positive factor: Maiden Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Cut-off Disclosed

- Negative factor: Weak M&I confidence \(16.79%\)

Evidence · table

> 1.16

Context: 2.69

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--afa03024-7b59-4e26-8e16-aa3c75868424#fact-resource-facts-3)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource Data

- Category: inferred
- Tonnes: 8120000
- Grade: 1.03
- Grade Unit: g/t
- Contained Metal: 267900
- Contained Unit: oz
- Cutoff Grade: 0.25

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-18T00:00:00.000Z

Reasoning: Inferred resource at Ngula 1 contributes significantly to the maiden MRE, with potential for conversion to higher confidence categories.

- Positive factor: Maiden Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Cut-off Disclosed

- Positive factor: Potential for resource conversion and growth

- Negative factor: Inferred Resource

Evidence · table

> 1.03

Context: 8.12

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--afa03024-7b59-4e26-8e16-aa3c75868424#fact-resource-facts-4)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource Data

- Category: inferred
- Tonnes: 4710000
- Grade: 1.3
- Grade Unit: g/t
- Contained Metal: 197100
- Contained Unit: oz
- Cutoff Grade: 0.25

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-18T00:00:00.000Z

Reasoning: Inferred resource at Nyakagwe Village contributes to the maiden MRE, with potential for conversion to higher confidence categories.

- Positive factor: Maiden Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Cut-off Disclosed

- Positive factor: Potential for resource conversion and growth

- Negative factor: Inferred Resource

Evidence · table

> 1.30

Context: 4.71

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--afa03024-7b59-4e26-8e16-aa3c75868424#fact-resource-facts-5)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource Data

- Category: inferred
- Tonnes: 510000
- Grade: 0.93
- Grade Unit: g/t
- Contained Metal: 15200
- Contained Unit: oz
- Cutoff Grade: 0.25

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-18T00:00:00.000Z

Reasoning: Inferred resource at Nyakagwe East contributes to the maiden MRE, with potential for conversion to higher confidence categories.

- Positive factor: Maiden Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Cut-off Disclosed

- Positive factor: Potential for resource conversion and growth

- Negative factor: Inferred Resource

Evidence · table

> 0.93

Context: 0.51

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--afa03024-7b59-4e26-8e16-aa3c75868424#fact-resource-facts-6)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource Data

- Category: inferred
- Tonnes: 13330000
- Grade: 1.12
- Grade Unit: g/t
- Contained Metal: 480100
- Contained Unit: oz
- Cutoff Grade: 0.25

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-18T00:00:00.000Z

Reasoning: Total Inferred resource for the Tembo project, a key component of the maiden MRE, showing moderate grade but weak M&I confidence overall.

- Positive factor: Maiden Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Cut-off Disclosed

- Positive factor: Potential for resource conversion and growth

- Negative factor: Inferred Resource

- Negative factor: Weak M&I confidence \(16.79%\)

Evidence · table

> 1.12

Context: 13.33

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--afa03024-7b59-4e26-8e16-aa3c75868424#fact-resource-facts-7)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource Data

- Category: inferred
- Tonnes: 4790000
- Grade: 2.15
- Grade Unit: g/t
- Contained Metal: 331700
- Contained Unit: oz
- Cutoff Grade: 1

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-18T00:00:00.000Z

Reasoning: Significant higher-grade Inferred resource at a 1.00 g/t cut-off, demonstrating a robust core within the maiden MRE.

- Positive factor: Maiden Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Higher-grade component identified

- Positive factor: Cut-off Disclosed

- Negative factor: Inferred Resource

Evidence · text

> 4.79 Mt at 2.15 g/t gold containing 331,700 ounces

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--afa03024-7b59-4e26-8e16-aa3c75868424#fact-resource-facts-8)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource Data

- Category: indicated
- Tonnes: 1070000
- Grade: 2
- Grade Unit: g/t
- Contained Metal: 68600
- Contained Unit: oz
- Cutoff Grade: 1

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-18T00:00:00.000Z

Reasoning: Significant higher-grade Indicated resource at a 1.00 g/t cut-off, demonstrating a robust core within the maiden MRE.

- Positive factor: Maiden Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Higher-grade component identified

- Positive factor: Cut-off Disclosed

Evidence · text

> 1.07 Mt at 2.00 g/t gold containing 68,600 ounces

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--afa03024-7b59-4e26-8e16-aa3c75868424#fact-resource-facts-9)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource Data

- Category: inferred
- Tonnes: 2270000
- Grade: 3.18
- Grade Unit: g/t
- Contained Metal: 232100
- Contained Unit: oz
- Cutoff Grade: 1.5

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-18T00:00:00.000Z

Reasoning: Very high-grade Inferred resource at a 1.50 g/t cut-off, further highlighting the robust core of the maiden MRE.

- Positive factor: Maiden Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Higher-grade component identified

- Positive factor: Cut-off Disclosed

- Negative factor: Inferred Resource

Evidence · text

> 2.27 Mt at 3.18 g/t gold for 232,100 Inferred ounces

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--afa03024-7b59-4e26-8e16-aa3c75868424#fact-resource-facts-10)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource Data

- Category: indicated
- Tonnes: 560000
- Grade: 2.68
- Grade Unit: g/t
- Contained Metal: 48500
- Contained Unit: oz
- Cutoff Grade: 1.5

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-18T00:00:00.000Z

Reasoning: Very high-grade Indicated resource at a 1.50 g/t cut-off, further highlighting the robust core of the maiden MRE.

- Positive factor: Maiden Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Higher-grade component identified

- Positive factor: Cut-off Disclosed

Evidence · text

> 0.56 Mt at 2.68 g/t for 48,500 Indicated ounces

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--afa03024-7b59-4e26-8e16-aa3c75868424#fact-resource-facts-11)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource Data

- Category: inferred
- Tonnes: 2280000
- Grade: 2.33
- Grade Unit: g/t
- Contained Metal: 170700
- Contained Unit: oz
- Cutoff Grade: 1

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-18T00:00:00.000Z

Reasoning: Specific higher-grade Inferred resource at Ngula 1 at a 1.00 g/t cut-off, indicating a focused target for future work.

- Positive factor: Maiden Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Higher-grade component identified

- Positive factor: Cut-off Disclosed

- Negative factor: Inferred Resource

Evidence · text

> 2.28 Mt at 2.33 g/t gold for 170,700 ounces

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/lake-victoria-gold-announces-maiden-mineral-resource-at-tembo-of-480-100-inferre--afa03024-7b59-4e26-8e16-aa3c75868424#fact-resource-facts-12)

Tembo Gold Project · gold

#### Identity

- Project: Tembo Gold Project
- Commodity: gold
- Region: tanzania
- Reported Region: northwestern Tanzania
- Ticker: LVG

#### Resource Data

- Category: indicated
- Tonnes: 660000
- Grade: 1.96
- Grade Unit: g/t
- Contained Metal: 41400
- Contained Unit: oz
- Cutoff Grade: 1

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-18T00:00:00.000Z

Reasoning: Specific higher-grade Indicated resource at Ngula 1 at a 1.00 g/t cut-off, indicating a focused target for future work.

- Positive factor: Maiden Resource

- Positive factor: NI 43-101 Compliant

- Positive factor: QP/CP Signed

- Positive factor: Higher-grade component identified

- Positive factor: Cut-off Disclosed

Evidence · text

> 0.66 Mt at 1.96 g/t gold for 41,400 ounces

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.