Lake Victoria Accepts $1,594,600 In Private Placements

Golden, Colorado, April 12, 2010 (OTCBB:LVCA) – Lake Victoria Mining Company accepted and completed private placements totaling $1,594,600 as of April 12, 2010. The funds will be used to advance the company’s gold projects in Tanzania, East Africa and for corporate expenses.

About the Company

Lake Victoria Mining Company, Inc. along with its wholly owned subsidiary, Kilimanjaro Mining Company Inc. ( www.kilimanjarominingcompany.com ) 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 holds eleven prospective gold projects and five uranium projects within its Tanzania property portfolio.

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

Lake Victoria Mining Company, Inc.

Dr. Roger A. Newell

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.