USA News Group News Commentary Issued on behalf of Lake Victoria Gold Ltd.
VANCOUVER, BC, Oct. 27, 2025 /PRNewswire/ -- USA News GroupNews Commentary – Gold prices held above $4,100 per ounce through late October 2025, extending a year that has delivered over 25% gains since January and positioned the precious metal for its strongest annual performance since 1979[1]. This sustained rally at elevated levels drove mining profit margins to unprecedented territory[2], with producers seeing margins effectively double as operational costs remain relatively stable while gold continues to commands prices above $4,000 per ounce. Against this backdrop of record bullion values and enhanced economics, exploration and development companies across multiple jurisdictions are accelerating programs, among them Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF), Andean Precious Metals Corp. (TSX: APM) (OTCQX: ANPMF), U.S. GoldMining Inc. (NASDAQ: USGO), and Nova Minerals Limited (NASDAQ: NVA).
Bank of America raised its 2026 gold forecast to $5,000 per ounce, citing unorthodox fiscal policies and rising debt levels as persistent tailwinds for the metal[3]. Meanwhile, JPMorgan projects prices averaging $3,675 per ounce by Q4 2025 before climbing toward $4,000 by mid-2026[4], with sustained central bank purchasing and investor demand averaging 710 tonnes quarterly underpinning the forecast, creating compelling timing advantages for companies advancing high-grade projects toward production.
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) has reported continued exploration success at its Tembo-area licences, where Barrick Gold's Bulyanhulu joint venture completed 12 reverse-circulation holes totaling 1,380 metres during Q2 2025. The results confirm the geological continuity between Barrick's flagship Tanzanian mine and LVG's 100%-owned adjacent ground.
"Barrick's methodical exploration is confirming the geological architecture we've interpreted on our licence area," said Marc Cernovitch, President and CEO of LVG. "As they advance, LVG benefits from both the direct geological insights and the potential for substantial contingent payments—creating a rare opportunity of value addition through a combination of near-term potential production development at Imwelo and the Tembo project, and discovery leverage through the Buly exploration."
The Q2 drilling confirmed favorable geology, intersecting mafic metavolcanics (greenstone) and quartz porphyry dykes, which display weak to moderate deformation and have associated silica-sericite alteration, and localized disseminated pyrite and quartz veining—promising indicators for gold mineralization in this highly productive district. Rock-chip samples from artisanal workings near zones of strong chlorite-sericite alteration, indicate the presence of potentially mineralized structures.
Under the Asset Purchase Agreement executed in 2022, LVG may receive up to US $45 million in contingent payments from Barrick, subject to future discoveries or defined resource thresholds on these licences.
The results reinforce the geological continuity between the Bulyanhulu Mine and the Tembo Project area, validating LVG's long-standing interpretation of the belt's broader potential.
"We are encouraged to see Barrick's sustained exploration momentum and technical validation across the Tembo-area licences," said Simon Benstead, Executive Chairman and CFO of Lake Victoria Gold. "Their work continues to confirm the fertility of this part of the Lake Victoria Goldfields, where LVG remains a significant stakeholder through both our adjacent 100%-owned Tembo Project and the contingent upside tied to future discoveries."
This strategic exposure comes as LVG accelerates its fully permitted Imwelo Gold Project toward construction. The company recently commenced drilling at Area C, the highest-grade zone within the project located just 12 kilometers from AngloGold Ashanti's flagship Geita mine.