LAKE VICTORIA MINING COMPANY, INC. – KALEMELA EMERGING GOLD PROJECT UPDATE, TANZANIA

February 12, 2009 – Dar es Salaam, Tanzania. Lake Victoria Mining Company, Inc. (OTCBB:LVCA) is pleased to provide an update of exploration activities at its Kalemela Gold Project in northern Tanzania. This emerging gold exploration project lies northeast of the Company’s Geita Gold Project and 140 kilometers northeast of the town of Mwanza. The Kalemela Gold Project is assumed to be the western extension of the Kilimafedha Gold Mines, colonial mining district.

At the Kalemela Gold Project, Lake Victoria Mining Company controls 262 square kilometers held within three exploration licenses; a detailed 2,226 line kilometer ground magnetic survey was recently completed within this property. The survey was contracted to Geo Can Resources and conducted with a continuous reading, GPS controlled GEM System magnetometer model number GSM-19W. Preliminary data processing indicates at least five new structural intersections are present below shallow clay and soil cover. These previously unknown intersections consist of prominent northwest trending structures that are crosscut by smaller northeast trending fault and fracture zones. These features lie within Precambrian greenstone rocks and are the primary focus of our exploration.

To further define these new targets identified by the magnetic survey, soil geochemical samples are being collected on 200 meter spaced north-south lines; individual targeted areas are spaced at 50 meters. A total of 1069 samples have been sent into the lab and assay results are pending. To date, anomalous gold results have identified a two by two kilometer structurally complex area in the eastern part of the project; samples are still being collected in the western locations over the recently identified structural intersections. Once the soil sample results are evaluated, shallow trenches may be excavated and an electrical induced polarization (I.P.) planned with the objective to define possible drill targets.

Dr Roger Newell President of Lake Victoria Mining Company is currently in Tanzania overseeing the field exploration and data processing to define drill targets at the Kalemela gold project. This is happening concurrent with an aggressive 6000 meter Reverse Circulation (RC) drilling program on its Geita property, about 80 kilometers west of Mwanza. Lake Victoria’s Geita Gold Project is bordered by AngloGold Ashanti’s Geita gold mine which has ore reserves reckoned at 8.5Moz and mineral resources at 14.7Moz. The Geita mining district is one of the oldest and most productive in East Africa, and the Company is actively drilling strategically defined targets within the northeast quarter of its 43.77 square kilometer property. The results will be provided as they become available.

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 Geita, 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.