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Michele Ashby Joins Lake Victoria Mining Company’s Board

November 5, 2008

Lake Victoria Mining Company (OTCBB: LVCA) is pleased to announce that Michele Ashby is joining the Company’s Board of Directors.

Ms. Ashby is the founder, owner and Chief Executive Officer of MINE, LLC, a Colorado company organized to promote selected natural resource companies to the investment community through private conferences. She has occupied that position since July 2005. In 1988 she founded the Denver Gold Group Inc., and until 2005, she was the Chief Executive Officer of that organization, which is dedicated and operated as a trade association for the mining industry. In that capacity, she developed and marketed annual conferences that attracted global participants in the gold industry and the investment community. Since 2005, she has served as a Board Member for U.S. Gold Corporation, and she is the Chair of that company’s Compensation Committee and a member of both the Nominating and the Governance Committees. In 1998 she founded, and is the President of Dani’s Foundation, a non-profit organization dedicated to finding a cure for Ewing’s Sarcoma, a cancer which strikes young adults. Michele holds a B.Sc. in finance and between 1987 and 1995, she was a stockbroker and mining analyst with a regional firm located in Denver, Colorado.

Roger Newell, Lake Victoria’s CEO and President says, “I have known and admired Michele’s accomplishments for fifteen years, and I am delighted that she is joining our Board. She not only brings a global connection to gold investors and investment opportunities, but she also provides a strong sense of corporate governance. I believe her successful experience at building organizations represents a valuable addition to Lake Victoria.”

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 eighty percent ownership interest in the Kalemela Gold Project along with Geo Can Resources Company Limited (Tanzania) a subsidiary of Kilimanjaro Mining Company, Inc. of Nevada. www.kilimanjarominingcompany.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.

 Contacts: Lake Victoria Mining Company, Inc. Dr. Roger A. Newell (303) 586-1390 Email: info@lvcamining.com Website: www.lakevictoriaminingcompany.com

SOURCE: Lake Victoria Mining Company, Inc.




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