Vancouver, BC – September 30, 2026 -- Lake Victoria Gold Ltd. (TSXV: LVG) has launched its first land compensation programme at Tembo, covering 111.32 acres directly over the Ngula 1 deposit in Tanzania's Lake Victoria Goldfield, with completion targeted for early October 2026.
Maiden resource at Tembo delivers 480,100 inferred ounces next to Barrick's Bulyanhulu mine
The August 11 NI 43-101 estimate for Tembo reported Inferred resources of 13.33 million tonnes at 1.12 g/t gold for 480,100 ounces, plus Indicated resources of 2.69 million tonnes at 1.16 g/t for 99,700 ounces, based on a 0.25 g/t cut-off and a US$2,400/oz gold price. At a tighter 1.00 g/t cut-off, grade rises to 2.15 g/t for 331,700 Inferred ounces and 2.00 g/t for 68,600 Indicated ounces. Ngula 1 holds roughly 56% of Inferred and 63% of Indicated ounces and is the target of a planned 4,000-to-5,000-metre close-spaced drill program.
Land access covers ground shared with Nyati Resources ahead of a proposed toll-milling deal
Of the 111.32 acres under valuation, 88.51 acres sit within LVG's own mining licence and 22.81 acres fall under primary licences held by Nyati Resources. The programme underpins a proposed arrangement for Nyati's 500-tonne-per-day plant to process Tembo material, including Ngula 1, subject to confirmatory drilling, permitting, financing and a definitive agreement. The resource covers only three of 39 exploration targets identified across LVG's 34 km2 property in a 2020 GoldSpot Discoveries study.
Imwelo financing leans on a gold-denominated loan rather than cash debt
At the separate, fully permitted Imwelo Gold Project, LVG has arranged a gold loan facility with Monetary Metals & Co. of up to 6,000 ounces, approximately US$25 million, structured to be repaid in gold rather than cash, alongside a convertible debenture later upsized to $5 million. On September 24, LVG identified attrition scrubbing and desliming as its preferred processing route for Imwelo's weathered near-surface material, lifting 24-hour gold extraction in agitated-leach testing from 49.99% to 84.54%.
Central bank buying and ETF inflows keep capital flowing into gold despite price swings
Central banks bought a net 288.9 tonnes in the second quarter of 2026, up 62% year-over-year and the strongest second quarter on record, while gold-backed ETFs took in $18 billion in August, the second-largest monthly inflow on record, according to the World Gold Council. Benchmark gold fell about 3% to roughly US$4,149 an ounce Monday, down 6.6% over the past month on rising Treasury yields, yet remains up about 8% year-over-year, Trading Economics data show. GlobalData projects global mine supply growing just 0.9% annually to 141.6 million ounces by 2030.
Streaming and royalty players report rising cash flows as Tanzania's gold exports climb 37.4%
Wheaton Precious Metals Corp. (NYSE: WPM) now receives 67.5% of Antamina silver output, up from 33.75% under its prior Glencore stream, funded partly via a new $1.5 billion two-year term loan; net debt stood at $1.9 billion at June 30. OR Royalties Inc. (NYSE: OR) posted a 62% year-over-year jump in second-quarter revenue and cash flow, with royalty and stream interests growing to $1.48 billion from $1.14 billion at year-end 2025, and raised its quarterly dividend 18% to US$0.065 per share in May. Tanzania's gold exports rose 37.4% to US$5.67 billion in the year to July 2026, representing 47.4% of goods export earnings, according to the Bank of Tanzania.