As Gold Soars, Mining Stocks Enter Breakout Watch Territory

Issued on behalf of Lake Victoria Gold Ltd.

VANCOUVER – Baystreet.ca News Commentary – With geopolitical tensions on the rise, gold’s safe-haven role is once again reemerging. Due to the conflict eruption in the Middle East, both gold and oil prices have soared. Analysts at VanEck argue that if gold miners can rein in costs and preserve margins, the current price environment could finally start working in their favor. As several gold mining stocks have recently tagged their 52-week highs, analysts are calling for a mining equities breakout, causing several gold stocks to attract more attention, including Lake Victoria Gold (TSXV:LVG.VN) (OTC-BB:LVGLF), Barrick Mining Corporation (NYSE:B) (TSX:ABX.TO), Laurion Mineral Exploration (TSXV:LME.VN) (OTCPK:LMEFF), Cassiar Gold Corp. (TSXV:GLDC.VN) (OTCQX:CGLCF), and GoldQuest Mining Corp. (TSXV:GQC.VN).

Lake Victoria Gold (TSXV:LVG.VN) (OTC-BB:LVGLF) s executing a staged growth plan across Tanzania’s Lake Victoria Goldfields, a region known for hosting some of East Africa’s highest-grade gold deposits. The company is advancing key milestones at both its flagship projects, with a planned 3,000-meter RC drill campaign at the Tembo Project and early development activities progressing at the fully permitted Imwelo gold mine.

In parallel to its core development work, Lake Victoria Gold maintains long-term upside exposure through an Asset Purchase Agreement (APA) signed in December 2021 with Bulyanhulu Gold Mine Limited (“Buly"), a joint venture between Barrick Mining Corporation (NYSE:GOLD) (TSX:ABX.TO) and the Government of Tanzania. Under the APA, Buly acquired six non-core prospecting licenses from LVG, committing up to US$9 million in exploration spending. So far, Buly has invested over US$5.56 million and drilled more than 33,200 meters across the package. Alongside the US$6 million upfront payment, LVG retains the potential to earn up to US$45 million in contingent payments tied to future gold discoveries on the project.

“While Buly’s exploration work provides valuable long-term upside, our immediate focus is on advancing Tembo and Imwelo toward production in 2025 & 2026 respectively,” said Marc Cernovitch, President and CEO of Lake Victoria Gold. “These are high-conviction assets under our direct control, and we’re committed to delivering near-term cash flow and operational milestones.”

In Q1 2025, exploration focused on targeted diamond drilling aimed at refining the geological model. Results confirmed the presence of high-potential shear-hosted and quartz–sulfide structures—features that closely resemble those found at the nearby Barrick Tier 1 Bulyanhulu Mine. Importantly, these mineralized trends also align with known corridors across Lake Victoria Gold’s flagship Tembo property.

“What excites us is the emerging alignment between Buly’s recent drill results and the structural framework we are seeing throughout our Tembo Project,” said David Scott, Pr. Sci. Nat., Director of Lake Victoria Gold. “These are the kinds of environments where significant gold systems are formed, and they remain largely untested across much of the property.”

Tembo remains the cornerstone of LVG’s 2025 exploration strategy. The current drill campaign at Ngula 1 is focused on near-surface gold zones that could offer toll milling potential through a nearby third-party plant. Historical intercepts at Ngula 1—such as 28.57 g/t gold over 3 meters from 54 meters and 17.23 g/t over 4 meters from 19 meters—provide a strong foundation for the ongoing 45-hole RC program. By prioritizing shallow targets, the company aims to unlock early development optionality while building a deeper structural model across this highly prospective district.

“At Tembo, we believe the project holds district-scale discovery potential—supported by its geological continuity with Bulyanhulu and over 50,000 metres of historical drilling,” said Cernovitch. “The Barrick APA adds further optionality, giving shareholders meaningful exposure to new discoveries without diverting capital or management attention.”

To advance its near-term development plan, Lake Victoria Gold has signed a non-binding LOI with Nyati Resources for potential toll milling at Nyati’s nearby 120-tonne-per-day processing plant. A larger 500-tpd facility is also expected to be commissioned in the coming months. To evaluate the current plant’s capabilities, third-party firm Nesch Mintech Tanzania has been engaged to assess performance, review technical readiness, and recommend any necessary upgrades to support future production.

“Tembo has always stood out as a project with the potential to deliver both near-term value and long-term discovery upside,” said Simon Benstead, Executive Director of Lake Victoria Gold. “Evaluating this small-scale development opportunity allows us to test the system, generate operational insights, and potentially self-fund ongoing exploration.”

While momentum continues to build at Tembo, Lake Victoria Gold’s most advanced asset remains Imwelo—a fully permitted gold project located near AngloGold Ashanti’s Geita Mine, the region’s top producer.

Supported by a 2021 Pre-Feasibility Study and active mining licenses, Imwelo is moving toward phased development. A strategic partnership with Taifa Mining, Tanzania’s largest mining contractor, has further de-risked the project. Taifa will oversee mining and civil works, while its parent company, Taifa Group, has committed C$3.52 million through an equity investment to help fund the next stage.

Both Imwelo and Tembo are being advanced under a financial strategy designed to minimize equity dilution. A gold prepay term sheet with Monetary Metals, tied to up to 7,000 ounces of future production, provides non-dilutive capital. Alongside the multi-stage Taifa investment, these agreements give Lake Victoria Gold the financial flexibility to execute its modular buildout strategy with discipline and reduced funding risk.

With drill rigs turning shortly at Tembo, processing assessments underway, and exploration spending ramping up, Lake Victoria Gold is evolving from an explorer into a near-term producer. The company’s model combines low-capex gold production with district-scale discovery potential—offering investors a dual pathway to value in one of Africa’s most prolific gold belts.

CONTINUED… Read this and more news for Lake Victoria Gold at: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/

In other industry developments and happenings in the market include:

Barrick Mining Corporation (NYSE:B) (TSX:ABX.TO) has removed its Loulo-Gounkoto complex in Mali from its 2025 output forecast, according to Reuters, amid an escalating dispute with the country’s military-led government. Operations have been suspended since January following blocked exports, staff detentions, and the seizure of gold stock, as Mali pushes to renegotiate mining terms and asserts control through local courts.

Despite initiating international arbitration, Barrick now faces the risk of losing temporary operational control of an asset that contributed nearly 14% of its global output. The standoff has amplified concerns among Western investors about growing resource nationalism in West Africa — a stark contrast to more stable jurisdictions like Tanzania.

Laurion Mineral Exploration (TSXV:LME.VN) (OTCPK:LMEFF) has launched its 2025 drill campaign at the Ishkoday Project in northwestern Ontario, with a 7,000-meter program targeting high-grade gold veins and deeper mineralized systems at both Brenbar and the historic Sturgeon River Mine. Backed by new deep geophysics and historical intercepts, the program is designed to refine drill targeting and advance toward a future mineral resource.

“The integration of deep geophysics, structural data, and historic drilling allows us to advance Ishkõday as a true district-scale gold-polymetallic system,” said Cynthia Le Sueur-Aquin, President and CEO of Laurion. “This program reflects our long-term confidence in the project’s scale and value creation potential.”

The company also reaffirmed its strategic relationships with US Capital Global and Oak Hill Financial, as it continues exploring potential M&A and financing pathways.

Cassiar Gold Corp. (TSXV:GLDC.VN) (OTCQX:CGLCF) has announced a major mineral resource update at its Taurus Deposit in northern British Columbia, increasing the inferred gold resource to 1.93 million ounces at 0.95 g/t and adding an indicated resource of 410,000 ounces at 1.43 g/t.

"By establishing a new geological model with high-quality structural and lithological data, we've enhanced confidence in the resource and laid a foundation for more efficient, value driven drilling to advance this deposit and adjacent targets." said Jill Maxwell, VP Exploration for Cassiar Gold. "Several of the adjacent targets share key geological and geophysical characteristics with Taurus and highlight the significant potential of the Cassiar Property."

Nearly half of the resource lies within 50 metres of surface, supporting future low-strip, open-pit development scenarios. With 107 new holes and a fully updated geological model, the company sees strong potential for additional growth across the broader Cassiar Property.

GoldQuest Mining Corp. (TSXV:GQC.VN) has received the official Terms of Reference (ToR) for its Romero Project in the Dominican Republic, marking the start of the final Environmental Impact Assessment phase.

"Receiving the Terms of Reference is a pivotal step in the responsible development of our Romero Project,” said Luis Santana, CEO of GoldQuest. “Its issuance is a clear recognition of the project's quality and the Dominican government's commitment to advancing Romero."

The Romero Project is a proposed underground mine targeting gold, copper, and silver, with plans for advanced infrastructure and best-in-class environmental practices. Global consulting firm AECOM will lead the environmental review alongside Dominican specialists, reinforcing GoldQuest’s intent to align with international standards.

Article Source: https://usanewsgroup.com/2025/04/02/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/

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