Lake Victoria Mining Company, Inc. Enters a Letter of Intent for Geo Can’s Geita Gold Project at World Class Geita Mining District, Tanzania

Geita, Tanzania – January 21, 2009 – Lake Victoria Mining Company (OTCBB: LVCA) is pleased to announce that it has signed a non-binding Letter of Intent (the “LOI”) with Geo Can Resources Company Limited ("Geo Can") to earn a 50% interest in Geo Can’s Geita Gold Project on Prospecting License Number PL2806 (the “Property”). The Property totals 43.77 sq km and shares an 11 kilometer northern boundary with AngloGold-Ashanti’s world class Geita Gold Mine. The “LOI” provides for the company (“LVCA”) to receive additional options to acquire up to a 75% interest in Geo Can’s Geita Gold Project.

Dr. Roger A. Newell, the Company’s president speaking directly from Geita stated: “We are anxious to move this LOI to a definitive agreement and we consider this opportunity to be a milestone in the Company’s development. The Geita mining district is well known for containing world-class gold deposits. Detailed ground magnetic and IP surveys conducted by Geo Can confirm major fault and shear zone structures extend into the property. This license not only has a “Park Avenue address”, but, is highly prospective for a large gold deposit and drilling is the next step forward.”

About the Company

Lake Victoria Mining Company, Inc. is working to create another gold mine in the world famous Lake Victoria Greenstone Belt, Tanzania, East Africa. Tanzania produced 1.75 million troy ounces of gold during 2007 and is the 3rd largest gold producer in Africa behind South Africa and Ghana. Lake Victoria Mining Company, Inc. currently holds an ownership and option interest in the Kalemela, Igusule and Bahi-Hombolo projects along with Geo Can Resources Company Limited (Tanzania) a subsidiary of Kilimanjaro Mining Company Inc., of Nevada. Kilimanjaro Mining Company’s website is www.kilimanjarominingcompany.com

Additional information regarding the Company is available on the corporate website at: www.lakevictoriaminingcompany.com or by contacting:

Lake Victoria Mining Company, Inc.

President - Roger A. Newell, Ph.D.

Phone: 303 -586-1390

Email: info@lvcamining.com

Disclaimer

This news release may contain forward looking statements, relating to the Company's operations or the environment in which it operates, which are based on Lake Victoria Mining Company, Inc.'s operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or beyond Lake Victoria Mining Company, Inc.'s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place undue reliance on such forward-looking statements. Lake Victoria Mining Company, Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.