Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER – USA News Group News Commentary – The gold and silver mining sector is experiencing a vibrant resurgence driven by new discoveries and strategic project expansions[1]. Companies across multiple jurisdictions are advancing exploration and development programs, with drilling campaigns systematically expanding resource footprints and extending mine lives. Positioned to capture this momentum are Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), Orvana Minerals Corp. (TSX: ORV) (OTCPK: ORVMF), Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF), Gold Royalty Corp. (NYSE-American: GROY), and Fortuna Mining Corp. (NYSE: FSM) (TSX: FVI).
Leading forecasters project gold reaching between $4,400 and $5,300 per ounce in 2026, with JPMorgan targeting $5,055 and Goldman Sachs forecasting $4,275 average annual pricing[2]. The sector’s largest undeveloped projects collectively hold hundreds of millions of ounces, creating substantial runway for companies executing disciplined resource expansion and development strategies in a favorable pricing environment[3].
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) has released the first analytical results from its ongoing 4,000-meter drill program at Area C, the highest-grade zone (averaging 3.7 g/t) and the Company’s initial planned production area at the fully permitted Imwelo Gold Project in northwestern Tanzania. Assays from the initial five holes prove down-dip extensions of the primary mineralized zone beneath the current open-pit design, with mineralization now pushing to more than 250 meters vertical depth, shattering the historical resource boundary of 200 meters. Additional lodes intersected in both the footwall and hanging wall expand the mineralization footprint and validate the geological model’s potential to support a larger open-pit shell and future underground optionality beyond the planned shallow open-pit operation.
Management sees the results as a critical validation of Imwelo’s development pathway, with LVG President and CEO Marc Cernovitch framing the data as a construction catalyst.
“These first results are exactly what we hoped to see as we advance Imwelo toward development,” said Cernovitch. “The drilling confirms that the mineralization continues beyond the limits of the current pit design, with additional lodes emerging in both the hanging wall and footwall. With assays now flowing, we expect steady news flow through year-end as we build the geologic and engineering foundation for construction.”
The program pairs reverse-circulation pre-collars with diamond-core tails, cutting cost and cycle time while delivering high-quality geological, geotechnical, and metallurgical data for final pit design and early mine planning. Five of the planned 24 drill holes have returned assays from the MSA Laboratory in Geita, demonstrating consistent grades and widths that mirror the modeled historical resource and confirm continuity of the main mineralized lodes. Lake Victoria Gold recently mobilized a second drill rig to accelerate the Area C campaign, positioning the company to release a steady stream of assays through year-end as construction decisions approach.
The results land as Lake Victoria Gold advances a dual-track strategy at both Imwelo and its Tembo Project, where Barrick Mining’s Bulyanhulu operation bankrolls exploration under an Asset Purchase Agreement that locks in LVG’s exposure to up to US$45 million in contingent milestone payments, a major asset tied to discoveries on the sold licenses. Recent financing totaling $8 million funds work programs designed to activate the pre-paid forward purchase facility with Monetary Metals, unlocking non-dilutive construction financing.
With gold above $4,100 per ounce and critical regulatory milestones locked in, including an agreement in principle with the Government of Tanzania on the statutory 16% free carried interest framework and environmental approval of its Updated Environmental and Social Management Plan, Lake Victoria Gold is driving Imwelo toward first production within 12 months of construction at Tanzania’s next emerging gold producer.
NOTE: For a Cautionary Note on Production Decision, please see the Disclaimer below.
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:
Orvana Minerals Corp. (TSX: ORV) (OTCPK: ORVMF) has commenced a geophysical survey at its Taguas Project in Argentina, repositioning the high-sulfidation epithermal gold-silver-copper property to evaluate its broader potential beyond the near-surface oxidized resource. Ridgeback Geofísica Argentina S.A., an affiliate of Southernrock Geophysics, is conducting Magnetotelluric and Induced Polarization surveys across 4 square kilometres to identify potential targets up to 1,500 metres depth.
“The 2025/26 campaign marks an important milestone in advancing our understanding of the Taguas mineral system,” said Juan Gavidia, CEO of Orvana Minerals Corp. “By combining the advanced geophysical survey now underway with insights from the recently completed review of historical exploration data, we will prioritize key targets for our initial deep drilling campaign, planned to start in January 2026, and establish a disciplined and strategic path toward unlocking the system’s broader potential.”
The geophysical survey is expected to finish by late December 2025, with results guiding an initial deep drilling campaign of approximately 4,500 metres planned to start in early 2026. Complementary geological work has identified vectors toward porphyry-style mineralization along a 2.5-kilometre north-south corridor extending from Cerro IV to Cerro Campamento.
Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) reported strong third quarter results with total revenue of $27.3 million from 7,988 ounces of gold and 1,475 ounces of silver, while post-quarter sales of an additional 7,966 ounces at $4,032 per ounce generated $32.1 million. For the nine months ended September 30, 2025, the Group reported revenue of $101.9 million from 38,590 ounces of gold and 23,700 ounces of silver, with Adjusted EBITDA of $51.8 million.
“The third quarter was a very strong operational period for us, and we are entering the fourth quarter with strong momentum,” said Bataa Tumur-Ochir, Chairman and CEO of Steppe Gold Ltd. “As we noted previously, we have been strategic in timing sales into a rising gold price environment, which significantly boosted our operational cash flow through October 2025. Our investment in a new mining fleet is already improving production efficiency, and we expect those gains to accelerate meaningfully through 2026. With encouraging exploration progress and Mongolia’s only large-scale processing facilities, Boroo is becoming a multi-asset hub, strategically positioned to process both our own ore and third-party material. The start of the fourth quarter has been very strong, and the continued cash generation from operations enables us to accelerate debt reduction on higher cost loans and better align our capital structure with our asset portfolio.”
The Group maintains strong working capital of $124.5 million as of September 30, 2025, including bond investments of $102.1 million that mature on December 31, 2025, with repayment proceeds of approximately $104 million to be applied to debt reduction. The company has repaid $7 million to its revolving credit facility since the third quarter and expects fourth quarter production of approximately 15,000 ounces, with continuing strong operational performance driven by the Boroo Gold mine.
Gold Royalty Corp. (NYSE-American: GROY) achieved record revenue of $4.1 million and Total Revenue, Land Agreement Proceeds and Interest of $4.6 million from 1,323 gold equivalent ounces in the third quarter of 2025. The company reported record Adjusted EBITDA of $2.5 million and record positive cash flow from operations of $2.4 million, while repaying $2.0 million to its revolving credit facility during the quarter and an additional $5 million subsequent to quarter end.
“The continued ramp-up of our portfolio, with new mines entering production, has delivered another quarter of record revenue and record Total Revenue, Land Agreement Proceeds and Interest,” said David Garofalo, Chairman and CEO of Gold Royalty Corp. “With positive cash flow and additional proceeds from warrant exercises, we have further reduced debt, lowered interest costs, and strengthened our balance sheet. Our disciplined approach keeps us on track to continue using cash generated from operations to delever throughout 2026.”
For the nine months ended September 30, 2025, Gold Royalty reported revenue of $11.1 million from 3,918 gold equivalent ounces and Adjusted EBITDA of $6.6 million. The company’s portfolio continues to benefit from significant milestones including Aura Minerals achieving commercial production at Borborema in the third quarter, Agnico Eagle’s Canadian Malartic/Odyssey underground development proceeding ahead of schedule with initial production expected in the second half of 2026, and IAMGOLD’s Côté Gold mine producing 106,000 ounces in the third quarter on a 100% basis.
Fortuna Mining Corp. (NYSE: FSM) (TSX: FVI) expanded Mineral Reserves and Resources at its Séguéla Mine in Côte d’Ivoire, reporting 1.2 million ounces of gold in Mineral Reserves representing an 11% increase compared to December 31, 2024. Measured and Indicated Mineral Resources, exclusive of Mineral Reserves, doubled to 794,000 ounces of gold, while Inferred Mineral Resources increased 15% to 712,000 ounces, with Kingfisher and Sunbird hosting the largest reserves and resources where mineralization remains open at both deposits.
“Continued exploration success over the last two years has created a clear pathway to not only extend the life of mine at Séguéla, but also to evaluate a further plant expansion and a potential increase in annual gold production,” said Jorge A. Ganoza, President and CEO of Fortuna Mining Corp. “Séguéla now boasts a 7.5-year life of mine and its largest Mineral Resource inventory on record. In response, we have launched aggressive infill drilling programs, advanced underground mining studies, and initiated plant expansion evaluations to fully capture the opportunities created by our exploration success.”
The company expects completion of the underground mining study in December 2025, supporting the potential conversion of up to 502,000 gold ounces of Sunbird Indicated Resources into Mineral Reserves. Fortuna has initiated technical studies to evaluate a plant expansion of approximately 25% capacity to between 2.0 and 2.5 million tonnes per year, with studies expected to be completed in the second quarter of 2026.
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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DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). This article is being distributed for Baystreet.ca media Corp, who has been paid a fee for an advertising from a shareholder of the Company (333,333 unrestricted shares). Neither BAY nor MIQ has been paid for the mention of West Red Lake Gold Mines Ltd. nor do we own any shares of West Red Lake Gold Mines Ltd. Neither BAY nor MIQ has been paid for the mention of Orezone Gold Corporation nor do we own any shares of Orezone Gold Corporation. Neither BAY nor MIQ has been paid for the mention of New Gound Gold Corp. nor do we own any shares of New Gound Gold Corp. Neither BAY nor MIQ has been paid for the mention of Liberty Gold Corp. nor do we own any shares of Liberty Gold Corp. MIQ has not been paid a fee for Lake Victoria Gold Ltd. advertising or digital media, but the owner/operators of MIQ also co-owns Baystreet.ca Media Corp. (“BAY”) There may also be 3rd parties who may have shares of Lake Victoria Gold Ltd. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ/BAY own shares of Lake Victoria Gold Ltd and reserve the right to buy and sell, and will buy and sell shares of Lake Victoria Gold Ltd. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by Lake Victoria Gold Ltd. Technical information relating to Lake Victoria Gold Ltd. has been reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person as defined by National Instrument 43-101. Mr. Scott is a registered member of the South African Council for Natural Scientific Professions (SACNASP) and is a Director of Lake Victoria Gold Ltd., and therefore is not independent of the Company. Cautionary Note on Production Decision: The Company cautions that it has not completed a feasibility study on the Imwelo Project that establishes mineral reserves demonstrating economic and technical viability. As a result, there is increased uncertainty and a higher risk of economic and technical failure associated with the Company’s production decision. In particular, there is no certainty that the planned low-capex open-pit operation will be economically viable or that planned production will occur as anticipated. Risks include, but are not limited to, variations in grade and recovery, unexpected geotechnical or metallurgical challenges, cost overruns, funding availability, and operational or permitting risks.; this is a paid advertisement, we currently own shares of Lake Victoria Gold Ltd. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
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SOURCES CITED:
- https://markets.financialcontent.com/wral/article/marketminute-2025-11-6-gold-and-silver-mining-sector-shines-bright-with-new-discoveries-and-strategic-expansions
- https://www.mining.com/why-analysts-see-5000-gold-price/
- https://www.mining.com/featured-article/ranked-worlds-20-biggest-gold-projects/
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