Dallas, United States, August 31st, 2026, FinanceWire

Disseminated on behalf of Lake Victoria Gold

As gold prices held near record levels through the first half of 2026, investor attention has increasingly turned to a key question in the mining sector: which developers are closest to transitioning from permitted deposits to producing mines. Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) has cleared a sequence of milestones on its Imwelo project in Tanzania that position the company at that threshold. 

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The Imwelo project holds Mining Licence ML 538/2015 and is fully permitted. A 23-hole, 1,136-metre sterilization drilling program completed in June confirmed that the plant and accommodation footprints are clear of mineralization. On June 29, 2026, the Tanzania Mining Commission approved a Tanzanian-led EPCM (Engineering, Procurement, and Construction Management) structure for the project, with City Engineering Company Ltd. serving as primary contractor and Sutton Consulting International providing international technical support; Senior Project Manager Charl Coetzee mobilized to site on July 8, 2026. On the financing side, the company entered into a binding term sheet on April 1, 2026 for a gold loan of up to 6,000 ounces, approximately US$25 million from Monetary Metals, to be repaid in gold ounces rather than cash, and closed the final tranche of a convertible debenture financing on July 2, 2026, bringing that raise to $4,165,200. Construction start is targeted for the current quarter.

Markets have historically applied deep discounts to development-stage mining companies to reflect the execution risks associated with permitting, financing, construction, and commissioning. As those risks are retired, companies have often seen valuations shift from a developer’s discount toward a producer’s multiple. G Mining Ventures (TSX: GMIN) (OTCQX: GMINF) offers a recent example, having built the Tocantinzinho mine in Brazil on time and on budget, poured first gold in 2024, and produced 171,871 ounces generating approximately $580 million in revenue in its first full year of commercial production in 2025. Lundin Gold (TSX: LUG) (OTCQX: LUGDF) acquired the Fruta del Norte deposit in Ecuador for $240 million in 2014, reached commercial production in 2020, produced 498,315 ounces in 2025, and now carries a market value in the C$20 billion range. Montage Gold (TSX: MAU) (OTCQX: MAUTF) is undergoing the same transition, with its fully funded, $825 million Koné project in Côte d’Ivoire advancing ahead of schedule and first gold now targeted for the fourth quarter of 2026. TRX Gold (NYSE American: TRX) (TSX: TRX) is demonstrating the same trajectory within Tanzania itself: its Buckreef mine, located in the same Geita greenstone belt as Imwelo, produced 7,426 ounces last quarter at a record average realized price of $4,703 per ounce. Barrick holds an equity position in Lake Victoria Gold, Tanzania’s Taifa Group is contracted for civil works and contract mining, and management, directors, and strategic partners collectively hold more than 60% of shares outstanding.

Imwelo has been the subject of JORC-code Preliminary Economic Assessment and pre-feasibility work; however, these studies are not current under NI 43-101, and the company has not completed a feasibility study establishing mineral reserves under CIM Definition Standards. Any decision to commence production is not based on a feasibility study of mineral reserves and carries an increased risk of economic or technical failure.

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About Lake Victoria Gold

Lake Victoria Gold is a rapidly growing gold exploration and development company listed on the TSX Venture Exchange under the symbol LVG. Leveraging our unique position and experience, the Company is principally focused on growth and consolidation in the highly prolific and prospective Lake Victoria Goldfield in Tanzania. The Company has a 100% interest in the Tembo project which has over fifty thousand meters of drilling and is located adjacent to Barrick’s Bulyanhulu Mine. The Company also holds a 100% interest in the Imwelo Project which is a fully permitted gold project west of AngloGold Ashanti’s Geita Gold Mine. With historical resource estimates and a JORC Compliant 2021 pre-feasibility study, the project is fully permitted for mine construction and production, positioning it as a near-term development opportunity. LVG has assembled a highly experienced team with a track record of developing, financing, and operating mining projects in Africa with management, directors and partners owning more than 60% of the shares. Notably, the Company is grateful for the validation that comes with the support and equity investment from Barrick and strategic partnership with Taifa Group. Taifa Group (a diverse group of companies with interests in amongst others, Mining, Telecoms, Oil & Gas, Agri Business, Pharmaceuticals and Leather) has entered into an agreement with the Company to obtain an equity stake in the Company and through its wholly owned subsidiary Taifa Mining (a wholly Tanzanian owned company), or other nominees. Taifa Mining will also conduct all the contract mining and civil works for the Imwelo project. Taifa Mining is Tanzania’s largest mining contractor with over 30 years mining related experience. Taifa have been the contractor of choice to most mines in Tanzania and have maintained long and successful relationships with companies such as Petra, De Beers, Barrick, and AngloGold Ashanti. In addition, Taifa also owns the largest fleet of mining equipment in Tanzania. As a company, Taifa is committed to adopting and adhering to the latest internationally recognized standards throughout all aspects of its business.

Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws, including statements regarding the timing of construction, financing, and project development. Such statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Readers are cautioned not to place undue reliance on forward-looking statements.

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Sources: https://www.newsfilecorp.com/release/303579/Lake-Victoria-Gold-Formalizes-TanzanianLed-EPCM-Team-Advancing-the-Fully-Permitted-Imwelo-Gold-Project-Toward-Construction 

https://www.newsfilecorp.com/release/304339/Lake-Victoria-Gold-Mobilizes-Senior-Project-Manager-to-Imwelo-as-Construction-Readiness-Advances 

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New York, United States, August 31st, 2026, FinanceWire

EdWealth (edwealth.ai) today announced the publication of MoneyBench, a benchmark developed by the company to evaluate how AI systems answer personal finance questions. The benchmark compares Ed, EdWealth’s AI personal finance coach, with ChatGPT and Gemini on usefulness and factual accuracy.

Ask an AI about money and a confident, plausible answer arrives instantly. Whether the numbers are right is invisible as you read. In an Intuit Credit Karma survey, 52% of adults who acted on AI financial advice reported a poor decision [1].

According to EdWealth’s MoneyBench results for July, Ed ranked first, winning 62.3% of questions, compared with 20.8% for Gemini and 17.0% for ChatGPT [2].

What made the difference

Writing quality did not separate the three, and accuracy scores often matched. Usefulness did: Ed averaged 4.24 on a five-point scale to ChatGPT’s 3.62 and Gemini’s 3.47, higher on roughly seven of ten questions against each.

Five things set Ed apart:

• Live numbers. Ed’s 120-plus financial data-and-analysis tools query the current filing, live price, holdings table, not last quarter’s memory.
• Decision-first answers. Conclusion first, then reasoning, then options.
• Fact and interpretation, separated. Limits and deadlines are stated as rules, context and trade-offs as interpretation. Most AI blurs the two.
• A coach that stays. From what a user shares, Ed learns their numbers, goals and habits; every answer builds on the last, across cash flow, taxes, stock compensation, funds, insurance. Account connections are read-only.
• Statute, not guesswork. Phase-outs, benefit formulas and multi-year tax rules come from a base of 11,566 parameters, sourced to the IRS, SSA, CMS and state authorities, across 51 US jurisdictions.

Confidence is not correctness

“Wealthy families always had a money person to call. Everyone else got search results, then a confident chatbot,” said Allen Ng, founder of EdWealth. “Ed closes that gap: live numbers, the reasoning shown, the decision still yours.”

The answers were scored by Claude, an AI from Anthropic, which builds none of the three. It checked each answer’s key figures against live sources, and an answer containing a fact proven false could not win. That check cost Ed: its score fell 5.3 points, both competitors rose, and Ed still finished first. Its 40 losses appear in the paper beside the wins. Where Ed’s facts were wrong, its usefulness fell with them: useful answers are built on correct ones.

In May’s first round Ed placed third of three, held back by weak data retrieval. EdWealth rebuilt it, and Ed has led every round since.

The part no benchmark can measure

The same question has a different right answer for each person: holdings, taxes, goals. A general assistant answers for everyone; Ed answers for one person, and keeps learning them. The test could not see that: standalone questions, nothing known about the asker. A benchmark measures the answer; a money person of your own knows the question behind it.

The full paper, with complete results, method and limitations: edwealth.ai/moneybench.

“We put our product on trial in public,” said Ng. “Financial AI should be judged on one question: does it help a person make a better money decision. Useful, and right. Only then does the rest follow. Money at peace, wealth in motion.”

About EdWealth

EdWealth builds agentic AI products for personal financial clarity and Financial Fitness. Its debut product, Ed, is a personal finance coach for modern households; user data is never for sale. Ed is available at edwealth.ai, on the App Store, and on Google Play.

Disclaimer: Ed provides financial information and education only — not investment, tax, or legal advice, and not a recommendation to buy or sell anything. Ed does not provide personalised investment recommendations. Ed is not a licensed financial adviser; its AI-generated outputs may be wrong, and all decisions are your own. Consult a licensed professional before acting. Availability, features, and pricing may vary by jurisdiction; Ed is offered only where permitted by applicable law.

Website: https://www.edwealth.ai/

Instagram: https://www.instagram.com/edwealth.ai/

Media contact: info@edwealth.ai

Sources: [1] Intuit Credit Karma, survey of 1,019 US adults, fielded August 7-14, 2025. [2] Systems as tested, July 2026: Ed in production configuration; ChatGPT (GPT-5.6 Sol) at Pro effort; Gemini (3.6 Flash) at default configuration.

Contact

Communications Lead
Phoebe Woo
EdWealth
info@edwealth.ai