Issued on behalf of Lake Victoria Gold Ltd.

An experienced gold-plant builder has mobilized to a fully permitted project in Tanzania's Lake Victoria Goldfield, joining a wave of gold companies across Tanzania, Guinea, and Ghana converting approvals into activity on the ground

VANCOUVER, BC, July 8, 2026 /CNW/ -- Equity Insider News Commentary - Gold is trading above the $4,100 per ounce level, roughly 25% higher than it was a year ago, after setting a record of $5,597.23 per ounce on January 29, 2026^[1]. Analysts at JPMorgan see the metal reaching $4,300 in the third quarter and $4,500 by the fourth^[1]. At these prices, the scarce commodity in the gold sector is no longer ounces in the ground - it is execution. Fully permitted projects with experienced builders physically on site are commanding attention, and a handful of companies are delivering exactly that, including Lake Victoria Gold Ltd. (TSXV:LVG) (OTCQB:LVGLF) (FSE: E1K), Endeavour Mining plc (LSE: EDV) (TSX:EDV) (OTCQX:EDVMF), Perseus Mining Limited (ASX: PRU) (TSX:PRU), Gold Fields Limited (NYSE:GFI) (JSE: GFI), and Predictive Discovery Limited (TSX:PDI) (ASX: PDI).

The capital is following the builders. Tanzania is seeing its first major gold mine construction in 17 years^[4], Guinea's newest gold mine reached commercial production in February with a tier-one development queued up behind it^[7], and the seniors converting African ounces into record cash flow are being rewarded for it^[3]. Against that backdrop, news that boots are hitting the ground at another fully permitted project in the Lake Victoria Goldfield is landing at precisely the right moment.

Lake Victoria Gold Ltd. (TSXV:LVG) (OTCQB:LVGLF) (FSE: E1K) has announced that Charl Coetzee of Sutton Consulting International Limited ("Sutton") has mobilized to the Company's fully permitted Imwelo Gold Project in northwestern Tanzania as Project Manager^[2]. Mr. Coetzee is now on site supporting the approved Tanzanian-led Engineering, Procurement and Construction Management ("EPCM") framework, under which City Engineering Company Ltd. ("CECL") serves as primary EPCM contractor and commercial lead, with Sutton providing international technical support.

Mr. Coetzee brings approximately 30 years of experience in the construction, commissioning, maintenance and operation of gold and minerals-processing plants across Africa, including in Angola, the Democratic Republic of Congo, Mozambique, Guinea and South Africa. His background includes a track record of delivering processing-plant installations on schedule and on budget, along with hands-on experience in commissioning support, operating readiness, maintenance systems and local workforce development.^[2]

The mobilization follows closely on the Mining Commission's approval of Lake Victoria Gold's EPCM structure, turning a key regulatory milestone into visible activity at site. Mr. Coetzee's mandate covers field coordination, construction sequencing, contractor and supplier interfaces, and ensuring that incoming infrastructure and activity are organized in a disciplined, practical and safety conscious manner. Near term workstreams at Imwelo include site clearing, access road upgrades and construction utility installation; Phase 1 modular camp preparation and infrastructure layout; and procurement support and contractor interface planning.^[2]

"Following Mining Commission approval of our EPCM structure, having Charl now on site is another important step in turning planning into execution at Imwelo," said Marc Cernovitch, President and CEO of Lake Victoria Gold. "Charl has spent his career building, commissioning and operating processing plants across Africa, and that practical experience is exactly what we want on the ground as we advance site readiness, infrastructure planning and contractor coordination."

Cernovitch added: "We are advancing Imwelo in a disciplined and compliant manner, with Tanzanian leadership through CECL, international technical support through Sutton, and experienced project management now established at site. This is the type of steady, practical progress required as we move Imwelo toward construction readiness."

Imwelo sits west of AngloGold Ashanti's Geita Gold Mine and is fully permitted for mine construction and production.^[2] It is one of two Tanzanian assets in the Lake Victoria Gold portfolio, alongside the 100%-owned Tembo project, which has over fifty thousand meters of drilling and is located adjacent to Barrick's Bulyanhulu Mine. The Company has drawn validation from an equity investment by Barrick and a strategic partnership with Taifa Group, whose wholly Tanzanian-owned subsidiary Taifa Mining is the country's largest mining contractor and is set to conduct all contract mining and civil works for the Imwelo project.^[2]

NOTE: For a Cautionary Note on Production Decision, please see the Disclaimer below.

CONTINUED... Read this and more news on Lake Victoria Gold at: https://equity-insider.com/lvg-landing

Other industry developments and happenings in the market include:

Endeavour Mining plc (LSE: EDV) (TSX:EDV) (OTCQX:EDVMF) recently reported record first-quarter results, with adjusted EBITDA of $880 million and free cash flow of $613 million, both up 29% over the prior quarter, alongside a net cash position of $405 million^[3]. The West African senior producer realized $4,810 per ounce of gold sold in the quarter, underscoring how much cash the current tape is putting into the hands of operators.

That balance sheet is being pointed straight at construction. Endeavour's definitive feasibility study for the Assafou project in Cote d'Ivoire outlined 320,000 ounces of annual production at an all-in sustaining cost of $1,026 per ounce over the first eight years of a 16-year mine life, with an after-tax NPV(5%) of $5.1 billion and a 55% IRR at $4,000 gold. Early works are underway, with a final investment decision targeted before the end of 2026 and a 24-30 month construction period to follow^[3]CEO Ian Cockerill said the study confirmed the scale and quality of 'this potential cornerstone project that underpins our organic growth.'^[3]

Perseus Mining Limited (ASX: PRU) (TSX:PRU) is building the Nyanzaga Gold Project in the same Lake Victoria Goldfield where Lake Victoria Gold operates, roughly 60 kilometers southwest of Mwanza. Perseus committed approximately US$523 million to the development, which it holds 80% of alongside a 20% interest held by the Government of Tanzania, with first gold targeted in the first quarter of 2027 [4]. CEO Jeff Quartermaine has called Nyanzaga 'the first major gold mine development in Tanzania in 17 years.'^[4]

The project keeps getting bigger. In February 2026, Perseus completed a revised Ore Reserve estimate of 90.9 million tonnes at 1.38 g/t gold for 4.0 million ounces, with resource definition drilling extending the mine life to 16 years, including 14 years of production above 200,000 ounces per annum^[5]. For investors watching the region, a half-billion-dollar build advancing on schedule in the Lake Victoria Goldfield is about as strong a validation of the address as it gets.

Gold Fields Limited (NYSE:GFI) (JSE: GFI) recently reported a 15% year-over-year increase in first-quarter production and reaffirmed its full-year guidance, following a 2025 that delivered record production, earnings and cash flow for the Johannesburg-based major^[6]. CEO Mike Fraser described the quarter as a 'solid start' to 2026, with key projects including the Tarkwa operation in Ghana progressing.^[6]

Analysts have stayed constructive on Gold Fields through the pullback in bullion, with Canaccord Genuity upgrading the stock to Buy in April and JPMorgan maintaining an Overweight rating^[6]. For the rest of the sector, the company is a reminder of what the destination looks like: African ounces, built and operated well, converting a $4,100 gold tape into record cash generation - the same math that is pulling capital toward the next generation of builders.

Predictive Discovery Limited (TSX:PDI) (ASX: PDI) completed its merger with Robex Resources in April 2026, combining the tier-one Bankan Gold Project with the Kiniero Gold Mine in Guinea under a single, well-capitalized company^[7]. Kiniero delivered its first gold pour on schedule and on budget in December 2025 and achieved commercial production in early 2026, while Bankan, one of Africa's largest undeveloped gold deposits, is approaching construction-ready status underpinned by a 5.5 million ounce Mineral Resource and expected production of roughly 250,000 ounces per annum over more than 12 years^[7].

The combined group is targeting more than 400,000 ounces of annual gold production by 2029 from its low-cost Guinea hub, with a financing pathway for Bankan that management says requires no additional equity or project debt^[7]. Matthew Wilcox, CEO of the combined entity, described the completed merger as a 'major turning point' for the company^[8]. Upcoming catalysts include Bankan exploitation permits and the commencement of construction^[7] - exactly the planning-to-execution transition the market is paying for across the space.

The throughline is unmistakable. From Ghana to Guinea to Tanzania, the gold developers being rewarded in this market are the ones converting studies and permits into camps, contractors, and commissioning schedules. With an experienced African plant builder now standing on site at a fully permitted project, backed by Tanzanian-led execution through CECL and the endorsement of names like Barrick and Taifa on its register, Lake Victoria Gold has just taken exactly that kind of step. In a $4,100 gold tape, steady and practical progress toward construction readiness is the story investors are paying up for - and at Imwelo, that progress is now visible on the ground. For more, visit: https://equity-insider.com/lvg-landing.

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For more information on Lake Victoria Gold (TSXV:LVG) (OTCQB:LVGLF), visit lakevictoriagold.com

NOTE: For a Cautionary Note on Production Decision, please see the Disclaimer below.

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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. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group Limited, a company incorporated under the laws of Ireland (MIQL). MIQL has been paid a fee for Lake Victoria Gold Ltd. advertising And digital media from the company directly. There may also 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 MIQL own shares of Lake Victoria Gold Ltd and 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, has been approved by Lake Victoria Gold Ltd. Technical information relating to Lake Victoria Gold Ltd. has been reviewed and approved by the company and 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: Although Imwelo has been the subject of JORC-compliant PEA, PFS and updated PFS work, these foreign-code studies are not current under NI 43-101. The Company has not completed a feasibility study on Imwelo that establishes mineral reserves demonstrating economic and technical viability and is not treating the JORC-based estimates or analyses as current under CIM Definition Standards. Any decision to commence production is not based on a feasibility study of mineral reserves and therefore involves increased uncertainty and a higher risk of economic and technical failure. There is no certainty that the planned low-capex open-pit operation will be economically viable or that production will occur as anticipated. Risks include, without limitation, variations in grade and recovery, unexpected geotechnical or metallurgical challenges, cost overruns, funding availability, and operational, regulatory, 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:

Trading Economics / Forbes Advisor, Gold Price - https://tradingeconomics.com/commodity/gold and https://www.forbes.com/advisor/investing/gold-price/
Lake Victoria Gold Ltd., News Release, July 8, 2026 - https://lakevictoriagold.com/
Endeavour Mining plc, Q1-2026 Results, April 30, 2026 - https://www.endeavourmining.com/news-and-media/news/endeavour-reports-strong-q1-2026-results/
Mining Technology, Perseus commits $523m to develop Nyanzaga Gold project in Tanzania - https://www.mining-technology.com/news/perseus-mining-nyanzaga-gold/
Perseus Mining Limited, Nyanzaga Gold Project - https://perseusmining.com/nyanzaga/
Stock Analysis, Gold Fields (GFI) Q1 2026 and FY2025 coverage - https://stockanalysis.com/stocks/gfi/
Predictive Discovery Limited, For Investors - https://www.predictivediscovery.com/information-for-investors/ and https://www.predictivediscovery.com/
Grafa, Predictive Discovery and Robex finalise gold mining merger, April 7, 2026 - https://grafa.com/en/news/australia/predictive-discovery-and-robex-finalise-gold-mining-merger

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