Acquisition Criteria

To maximize Lake Victoria Mining Company’s success in identifying licenses that have a high potential of ending up with a economical “proven deposit” we proceed according to the following criteria.  These criteria are our guidelines in qualifying a property for acquisition:

Lake Victoria Greenstone Belt

The license must be within Lake Victoria Greenstone Belt. The Greenstone Belt is famous in Tanzania and all over the world for its gold exploration and production. Currently there is over 50 million ounces of proven deposits and six (6) producing gold Mines within the Greenstone Belt. All these proven deposits or operating gold Mines are within a 200 km radius of Mwanza in Tanzania.

The license must have the potential to prove up 2 million plus ounces or must be within a reasonable and economic distance with other optioned licenses to allow a combining of more than one license to form a total cluster deposit that is 2 million plus ounces.

Mineralization Corridor

The license must exist within a significant mineralization corridor with a significant current or historical record of gold production. The corridor must have several gold occurrences in the same trend and similar mineralization style must occur within the license. An example of a mineralization corridor is Mrangi-Kiabakari-Nyasirori. All of these are old mines with a significant history of production.  For example: Kiabakari before closing in 1966 had already produced over 8,810 kg’s of gold. The Kiabakari is now owned by RandGold Resources (NASDAQ: GOLD) and has an estimated 900,000 ounces. Another example of a mineralization corridor is BUHEMBA-MAJI-MOTO-NORTH MARA owned by Barrick Gold Corp. (NYSE. ABX) with a proven 4 million ounce deposit.

Mines or Proven Deposits

The license must be adjacent to a known operating or abandoned mine or adjacent to an advanced project with other factors like structures and style of mineralization that should be present which can be interpreted from geophysics. Examples are the Geita gold mine, Buhemba and the Kilimafedha mining district.

Existing Artisanal Small Scale Mining Operations

Artisanal small scale workings are a very important starting point. Around the world almost all current large scale gold mines began by locating the artisan workings and then expanding exploration from them as a center. Examples within Tanzania are Bulyanhulu, Geita, North Mara, Golden Ridge, Buckreef, Golden Pride, Buzwagi and Nyakafuru gold mines. Licenses that have artisan workings will be given first priority for acquisition.