#Tanzania #Lake Victoria Gold #Imwelo Gold #Chato District

Lake Victoria Gold Progresses Imwelo Phase 3 Land Program

Lake Victoria Gold Limited (LVG), a prominent gold exploration and development firm, has made significant strides in its Phase 3 land valuation and compensation program regarding the Imwelo Gold Project located in the Chato District, Tanzania. Recently, the company completed a critical stage of statutory disclosures, paving the way for compensation for those affected by the project. This advancement not only highlights the company's commitment to a structured and transparent process but also speaks volumes about its engagement with local communities and authorities.

Key Developments

On September 7 and 8, 2026, LVG held disclosure meetings with Project Affected Persons (PAPs) alongside local authorities and community leaders. These meetings served as a platform for landholders to review and confirm the appraisal of their properties, thereby completing mandatory valuation documentation required for compensation. As of now, a significant majority of PAPs have signed the necessary forms, positioning them for payment once the final valuation report is approved.

The swift progress from the initiation of the program to this disclosure phase took approximately five weeks, reflecting effective collaboration between government bodies, community leaders, and landholders. Notably, the program's scope was expanded at the request of certain landholders, allowing for additional acquisitions that will serve future project developments.

The Disclosure Stage

Initially, the Phase 3 program was announced on July 31, 2026, with its commencement on August 1, 2026. During the disclosure meetings, property records were presented to participating landholders, allowing them to confirm the accuracy of assessments related to their land. This provided a transparent and accountable valuation process, aligning with regulatory standards set forth by Tanzanian laws governing land use and compensation in mining ventures.

To ensure a comprehensive evaluation, the field valuation and property measurements were followed by revisit requests from some PAPs to verify additional land acres underway. Each participant concluded the disclosure process by signing essential documentation, ensuring legal readiness for future compensation.

Expanding the Program

During the outreach for Phase 3, several landholders expressed the need for LVG to acquire entire parcels, not just portions within the original program boundaries. By agreeing to these requests, LVG not only aids the immediate concerns of landholders but also preemptively secures additional land essential for the project's long-term logistics and operational needs, thereby reducing future land acquisition requirements.

Moving Forward

Land valuation is meticulously conducted in Tanganyika according to a structured statutory process involving engagements with local government and certified valuers. The resultant valuation report is presently under preparation by the government valuation team and will undergo a rigorous endorsement process before compensation can be disbursed.

With the disclosure stage complete, LVG is focused on advancing necessary infrastructure and development activities essential for the Imwelo project as it heads toward construction. This includes plans for accommodations, workshops, and other site necessities that will facilitate progression in the mining operations.

Acknowledgements and Conclusion

The company expresses gratitude towards the Tanzanian authorities and local communities, acknowledging their vital role in facilitating this phase of the program efficiently. Marc Cernovitch, President and CEO of Lake Victoria Gold, emphasized the significance of their ongoing partnerships and said, "The Phase 3 program's rapid transition reflects the effective partnership with community leaders and local offers, which is crucial for mining projects like Imwelo to thrive."

As Lake Victoria Gold prepares the Imwelo project for future operational phases, its commitment to community engagement and adherence to regulatory standards stands as a testament to its ethics in mining practices. Stakeholders will continue to be updated as the program progresses, marking this as a pivotal moment for the Imwelo Gold Project, laying groundwork for sustainable development in the region.