LAKE VICTORIA MINING COMPANY BEGINS DRILLING AT GEITA GOLD PROJECT, TANZANIA

Geita, Tanzania February 5, 2009—Lake Victoria Mining Company (OTCBB:LVCA) has commenced the initial drill program on its 43 square kilometer Geita gold property in northern Tanzania and the first assay results will come out in the next 3 weeks.

Stanley Mining Service (T) Ltd has been contracted to drill approximately 6000 meters of Reverse Circulation (RC) drill holes. The program is scheduled to last for two months and consists of 35 or more drill holes reaching an average depth of 150 meters. The drill hole locations have been plotted to test for gold in key geologic and geophysical target areas and designed to encompass the three-kilometer by one-kilometer anomaly that has been identified through interpreted geophysical work. Pending assay results selected drill holes may be deepened.

The Geita area is one of the oldest and most productive gold mining areas in Tanzania and East Africa. During the last two years geologic mapping and detailed geophysical surveys have identified important and large geologic features, lying hidden below shallow surface soils that could host significant gold deposits. Large northeast and northwest trending fault-shear zones intersect and trend across our Geita property, and these structures are associated with Precambrian granitoid and microdiorite intrusives, felsic tuffs and banded iron formations that collectively form a classic geologic setting for major gold deposits in Africa, Canada, South America and Australia. Due to recent exploration success and favorable mine development regulations, Tanzania currently ranks as the third largest gold producing country in Africa, behind South Africa and Ghana.

Dr. Roger Newell, President of Lake Victoria, reporting from Geita, Tanzania, stated: “This is a very exciting time for the company; using state of the art technology to identify previously unrecognized targets in a major gold district is alone an important accomplishment, but then to follow up with an aggressive drill program to test those targets is what makes gold exploration one the most rewarding aspects of our business. To maximize our chances for success, we strive to be in the right place at the right time, and doing the right things; our Geita property fulfills all the criteria.”

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.