A Gold Mine Financed in Gold: Lake Victoria Advances One of Tanzania's First Gold-Denominated Project Loans

Issued on behalf of Lake Victoria Gold Ltd.

Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) is advancing the Tanzanian regulatory process — including Bank of Tanzania registration — for its previously announced gold loan facility of up to 6,000 ounces (~US$25 million) with Monetary Metals, a non-dilutive financing for its fully permitted Imwelo Gold Project.

Key Takeaways

• Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is advancing Bank of Tanzania registration and related regulatory workstreams required to implement its previously announced gold loan facility with Monetary Metals — an important step toward closing and funding.
• The facility provides for up to 6,000 ounces of gold (~US$25 million) of non-dilutive, project-level financing for the fully permitted Imwelo Gold Project, held through LVG's Tanzanian subsidiary Tembo Gold (T) Limited under Mining Licence ML 538/2015.
• Uniquely, the facility is structured and repaid in gold ounces, matching the financing to Imwelo's future production — what the Company calls one of the first structured gold-denominated project financings of its kind in Tanzania.
• LVG is advancing the financing alongside peers riding the same African-gold and gold-linked-capital wave, including Orezone Gold (TSX: ORE), Robex Resources (TSXV: RBX), Royal Gold (NASDAQ: RGLD), and Perseus Mining (ASX: PRU) (TSX: PRU).

Matching the Money to the Metal

VANCOUVER, BC, June 25, 2026 /PRNewswire/ -- USA News Group News Commentary — For a junior gold developer, how you finance a mine can matter as much as the ore in the ground. Raise too much equity at the wrong price and you dilute your shareholders into irrelevance before the first gold pour. On June 25, 2026, Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) provided an update on a financing designed to sidestep exactly that trap: it is advancing the Tanzanian regulatory process for a gold loan facility with Monetary Metals & Co. of up to 6,000 ounces of gold — roughly US$25 million — to help fund its fully permitted Imwelo Gold Project.

The update is procedural, but in development-stage mining, procedure is the path. The Company said it is progressing the Bank of Tanzania registration and related regulatory, registration and notification workstreams required to implement the facility — the unglamorous administrative machinery that turns a signed term sheet into funded capital. Originally announced on April 1, 2026, the facility is intended to provide non-dilutive, project-level funding without a large equity raise at the project level.

Why "Gold-Denominated" Is the Whole Point

The defining feature of the facility is that it is structured in gold ounces, with repayment in gold ounces. Rather than borrowing dollars to be repaid in dollars regardless of what gold does, LVG would draw and repay in the very commodity Imwelo is being built to produce. That alignment matters: it matches the financing obligation to the project's future output, so the loan and the mine move together rather than at cross purposes. Monetary Metals specializes in exactly this — gold-denominated financing that pays a yield on gold, in gold, through its Gold Yield Marketplace platform.

Marc Cernovitch, President, CEO & Director of Lake Victoria Gold, framed the regulatory progress as both company-specific and nationally significant: "Advancing the Tanzanian regulatory process for the Monetary Metals facility is an important and positive step for Lake Victoria Gold. This facility remains a central component of our non-dilutive funding strategy for Imwelo and reflects the type of disciplined, project-level capital structure we believe is appropriate for a near-term gold development project. We also believe this facility has broader significance for Tanzania, as it would represent one of the first structured gold-denominated project financing facilities of its kind in the country, demonstrating how gold-linked capital can support responsible mine development while preserving shareholder value."

Cernovitch emphasized sequencing: "We are taking the right steps in the right order: working through the Bank of Tanzania process, engaging with the relevant Tanzanian authorities and ensuring the facility is implemented in a manner that is consistent with Tanzanian law, our development plan and our obligations as a public company. Imwelo is fully permitted, our in-country team is being strengthened, and our focus remains on execution." Keith Weiner, Founder and CEO of Monetary Metals, added that as one of the first gold-denominated project financings of its kind in the country, "it is important that the foundational steps are completed properly and in full coordination with the relevant authorities."

The Regulatory Workstreams in Motion

A cross-border, gold-denominated facility of this nature requires coordination across several established Tanzanian regulatory and administrative workstreams, which the Company says it is progressing in the ordinary course. The principal steps include Bank of Tanzania registration of the external facility (including obtaining a Debt Registration Number); Mining Commission engagement in respect of Mining Licence ML 538/2015 and the gold-delivery mechanics of the facility; mineral marketing, royalty and export-clearance alignment for future gold sales, delivery, royalty payments and export procedures; and definitive documentation and implementation planning with Monetary Metals and relevant Tanzanian and international advisers.

Completion of the facility remains subject to the satisfaction of applicable regulatory approvals, registrations and notifications, completion of definitive documentation, finalization of implementation mechanics, and other customary closing conditions. In other words, this is a milestone on the path, not the close itself — and the Company has said it expects to provide further updates as the workstreams advance.

The Asset Behind the Financing

Imwelo is a fully permitted gold project in Tanzania's prolific Lake Victoria Goldfield, located west of AngloGold Ashanti's Geita Gold Mine and held through LVG's wholly owned Tanzanian subsidiary, Tembo Gold (T) Limited, under Mining Licence ML 538/2015. The Company describes it as a near-term development opportunity, fully permitted for mine construction and production, and is advancing engineering, procurement planning and financing initiatives in parallel as it works toward construction readiness.

Lake Victoria Gold also holds a 100% interest in the Tembo project, which sits adjacent to Barrick's Bulyanhulu Mine and has seen more than fifty thousand metres of drilling. The Company points to validation from equity investment by Barrick and a strategic partnership with the Taifa Group — Tanzania's largest mining contractor, which is slated to conduct contract mining and civil works at Imwelo. Management, directors and partners own more than 60% of the shares, an alignment of interests that development-stage investors often look for.

An important caveat applies: although Imwelo has been the subject of JORC-compliant PEA, PFS and updated PFS work, those foreign-code studies are not current under Canada's NI 43-101, and the Company has not completed a feasibility study establishing mineral reserves. Any decision to commence production would therefore not be based on a feasibility study of mineral reserves, which involves increased uncertainty and a higher risk of economic or technical failure. There is no certainty the planned low-capex open-pit operation will be economically viable or that production will occur as anticipated.

The Broader Trade: African Gold and Gold-Linked Capital

LVG sits at the intersection of two themes drawing investor capital: near-term African gold development and innovative, gold-linked financing. Four names help frame that landscape — though each carries its own risk profile and none is a proxy for LVG. Orezone Gold (TSX: ORE) (OTCQX: ORZCF) is a useful financing-structure comparison: the West African producer recently brought a hard-rock expansion at its Bomboré mine in Burkina Faso into commercial production, reported record first-quarter 2026 earnings, and notably funded growth in part through a US$100 million gold stream — the same family of gold-linked, non-dilutive capital LVG is pursuing.

Robex Resources (TSXV: RBX) is a fellow near-term builder turned producer: it achieved commercial production at its Kiniero Gold Mine in Guinea in early 2026, financed in part through a senior secured facility, illustrating the path from construction financing to cash flow that LVG is targeting at Imwelo. Royal Gold (NASDAQ: RGLD) represents the financing side of the equation at scale: as one of the world's largest gold-focused royalty and streaming companies — recently enlarged by its acquisition of Sandstorm Gold Royalties — it embodies the institutional model of providing gold-linked, non-dilutive capital to miners in exchange for future metal, the broad category LVG's Monetary Metals facility belongs to.

Perseus Mining (ASX: PRU) (TSX: PRU) anchors the Tanzania angle: the African-focused producer is developing its 80%-owned Nyanzaga project in the same Lake Victoria Goldfield as Imwelo — the first major new gold mine development in Tanzania in nearly two decades, with first gold targeted for early 2027. Perseus illustrates both the renewed institutional appetite for Tanzanian gold and the scale of capital flowing into the belt LVG operates in. Together these names map a sector where capital is rewarding funded, near-term developers — the lane Lake Victoria Gold is working to occupy.

The Bottom Line

Advancing a regulatory process is not the same as closing a financing, and Lake Victoria Gold remains a development-stage company that is not yet in production. But the structure here is the story: a gold project, in a major African gold jurisdiction, financed in gold itself, in a way designed to preserve shareholder value rather than erode it. If LVG completes the Bank of Tanzania workstreams and closes the Monetary Metals facility, it would not only fund Imwelo's march toward construction — it could help establish a financing template for an entire country's gold sector. The markers to watch now are completion of the regulatory steps, definitive documentation, and the move from approval toward funded capital.

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CONTACT
USA News Group
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SOURCES

• Lake Victoria Gold Ltd., "Lake Victoria Gold Advances Tanzanian Regulatory Process for Monetary Metals Gold Loan Facility," June 25, 2026; and prior release dated April 1, 2026.
• Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF), Q1 2026 results (US$100M gold stream financing) and Bomboré hard-rock expansion disclosures, 2026.
• Robex Resources Inc. (TSXV: RBX), Kiniero Gold Mine commercial production announcement, February 12, 2026.
• Royal Gold, Inc. (NASDAQ: RGLD), completion of acquisition of Sandstorm Gold Royalties, October 20, 2025.
• Perseus Mining Limited (ASX: PRU) (TSX: PRU), Nyanzaga Gold Project reserve update and development disclosures, February–April 2026.
• Monetary Metals & Co., Gold Yield Marketplace™ platform materials.

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CAUTIONARY NOTE & FORWARD-LOOKING STATEMENTS: This publication contains forward-looking information subject to risks and uncertainties, including statements regarding the completion, timing, terms and funding of the Monetary Metals gold loan facility; the satisfaction of Bank of Tanzania and other regulatory approvals, registrations and notifications; the advancement, construction, development and potential production of the Imwelo Gold Project; the non-dilutive nature and benefits of the facility; and the Company's development plans and capital strategy. Although Imwelo has been the subject of JORC-compliant PEA, PFS and updated PFS work, these foreign-code studies are not current under NI 43-101, and the Company has not completed a feasibility study establishing mineral reserves demonstrating economic and technical viability. Any decision to commence production is not based on a feasibility study of mineral reserves and therefore involves increased uncertainty and a higher risk of economic and technical failure; there is no certainty that the planned low-capex open-pit operation will be economically viable or that production will occur as anticipated. Risks include, without limitation, the facility not closing on the terms described or at all; failure to obtain required regulatory approvals; the availability of financing; metal-price and share-price volatility; variations in grade and recovery; geotechnical, metallurgical, cost, permitting, regulatory and operational risks; and other risks disclosed in the Company's public filings available on SEDAR+ (www.sedarplus.ca). Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of the underlying release. Readers are cautioned not to place undue reliance on forward-looking statements, and the publisher undertakes no obligation to update or revise them except as required by applicable law.