Leviathan Metals provides update on its diamond drilling program at the Central Project, Kalahari Copper Belt, Botswana
Leviathan Metals provides update on its diamond drilling program at the
Central Project, Kalahari Copper Belt, Botswana
• Fourteen diamond drill holes completed at Central for approximately 3,600 metres of drilling, target KCB
stratigraphy present in all but two holes.
• Copper sulphides observed in eight holes. Core cutting, sampling and laboratory analysis are ongoing, assay
results pending.
• Domal structure confirmed, north-western limb demonstrates marked veining, brecciation and alteration and
is regarded as a key structural target for mineralization.
VANCOUVER, British Columbia, Aug. 12, 2026 -- , August 12, 2026 – Leviathan Metals Corp. (“ Leviathan ”, the “Company”)
(LVX – TSXV, LVXFF – OTC, 0GP – FSE) is pleased to provide an update on its diamond drilling program at the Company’s
100%-owned Central Project (“Central”, the “Project”), Kalahari Copper Belt (the “KCB”), Botswana.
Fourteen mostly widely-spaced diamond drill holes have been completed at Central for approximately 3,600 metres of drilling,
with the D’Kar-Ngwako Pan Formation (“DKF-NPF”) contact – i.e. target KCB stratigraphy - in evidence in all but two of the
holes drilled (Figure 1 and Table 1).
Drilling has also confirmed the presence of the domal structure at Central previously identified by Leviathan’s geological team
in ground magnetic and Airborne EM (“AEM”) datasets. This structure has a gently dipping south-eastern limb, a more steeply
dipping north-western limb, and structural “nose”. The steeper dip of the north-western limb, in combination with sedimentary
facies variations also recorded by Leviathan’s team, appear to be affected by a greater degree of structure, veining, brecciation
and alteration - and as such may host pathways and trap sites for potential mineralizing fluids. Notwithstanding its emergence
as a prospective target area, the north-western limb accounts for only 50% of drilling meterage to date.
Leviathan Chief Operations Officer, Jeremy Crozier, remarked: “ Based mostly on very broad drill hole spacing, our findings
provide an excellent basis for targeted follow-on work. Drilling at Central has readily confirmed target KCB stratigraphy in
practically every hole drilled, with copper sulphide minerals observed in the majority of cases. We’ve also confirmed the
presence of the Hyena Hills dome, with the deformed north-western limb showing as a particularly favourable target structure –
put more simply a zone with potential to have hosted more concentrated fluid flow and mineralization.
Leviathan Chief Executive Officer added “Right rocks, right place. We’ve hit the DKF–NPF contact in almost every hole, seen
visual copper sulphides in the majority of holes, and demonstrated the presence of a previously untested domal structure on
Central, all in the opening stages of our program. Sitting next to MMG’s Khoemacau Mine and hosting more than 20 kilometres
of contact in one of the world’s most prominent copper belts gives us real discovery and scale potential”.
Copper sulphide minerals - in the form of chalcopyrite, in some cases accompanied by bornite and/or chalcocite - have been
observed in eight holes where they occur in minor amounts, over intervals of up to 10 metres or more (Figure 2). Galena, a lead
sulphide mineral is also observed in the drill core: seen to form ‘haloes’ peripheral to copper mineralization elsewhere on the
KCB this may be a favourable proximity indicator. Visual observations are indicative in nature.
Following completion of the initial drill holes and receipt of sample analyses, step-out drilling will target zones of greatest
interest. In the meantime, further holes are planned and in progress on the “nose” area and on both of the limbs. All such
drilling works fall within the drilling program announced by Leviathan on June 2, 2026, which remains ongoing. All drillholes
encountered Kalahari overburden (mostly sand) from surface to a depth of approximately 70-80 metres.
Figure 1: Drill collar locations at Leviathan’s Central Project relative to AEM horizonal depth slice conductivity data, and the
DKF-NPF contact. “Hotter” colours map out more conductive rocks, interpreted to be the carbonaceous and pyritic black
shales of the mid D’Kar Formation, approximately 100-200 metres (stratigraphically) above the DKF-NPF contact.
Figure 2 : Examples of copper sulphide mineralization at Leviathan’s Central Project; (a) vein hosted chalcopyrite (b)
chalcopyrite on relict bedding surface, (c) chalcopyrite grains (arrowed in red) and galena (arrowed in yellow) in albitic vein
(white/pink patch), (d) vein hosted chalcopyrite.
Figure 3: Core yard and geological team at Leviathan’s Central Project; Mitchell Drilling camp operations in background.
Drilling has been designed to target potential sediment-hosted copper mineralization of the style and magnitude observed at
MMG Limited’s adjoining Khoemacau property1, specifically at the DKF-NPF contact, in an area where this contact is folded
into a very clear and prominent large domal structure - the ‘Hyena Hills dome’ (Figure 1). Over 20 kilometers of this prospective
contact has been interpreted at Central from airborne electromagnetic survey data (News Release, April 23, 2026), as well as
from high resolution ground magnetic surveys completed at the property in 2023-2024. Initial drillholes were been positioned to
locate the DKF-NPF contact with precision. Drilling works are being performed by Mitchell Drilling International using a Sandvik
DE710 diamond rig. Mitchell draws on fifty-seven years of drilling experience globally and in Africa, including almost twenty
years of drilling under similar conditions within the KCB in Botswana. To date, no drill holes have been lost in the current
program
Visual observations are preliminary, and laboratory assays are required to determine copper grades and potential mineralized
interval widths. Core cutting, sampling and laboratory analysis are ongoing; core yard operations are shown in Figure 3. Assay
results are expected in due course and may assist targeting and guide subsequent step-out drilling across the most
prospective areas of the Central Dome. A portable XRF analyser is now in use and will support rapid multi-element
geochemical screening of drill core, assisting with lithological correlation, alteration mapping and drill targeting while laboratory
assays are pending.
Table 1. Collar positions of the holes drilled to date (given as WGS 84 UTM - zone 34S).
HoleID Hole
Length (m)
UTM
East
UTM
North
Elevation
(m) Azimuth Inclination
CEN_DD_001 100.0 755134 7703194 998 276 -60
CEN_DD_002 167.5 755474 7702993 999 300 -60
CEN_DD_003 251.5 754361 7704342 998 120 -60
CEN_DD_004 194.6 755300 7704482 996 120 -60
CEN_DD_005 383.6 756942 7704234 998 300 -60
CEN_DD_006 404.5 755897 7705533 998 120 -70
CEN_DD_007 200.7 752595 7703265 998 150 -60
CEN_DD_008 183.0 754397 7701193 998 300 -60
CEN_DD_009 275.6 751183 7702706 997 120 -55
CEN_DD_010 194.6 754127 7704126 998 120 -60
CEN_DD_011 317.8 757211 7705804 998 90 -65
CEN_DD_012 203.5 753275 7699064 1000 200 -60
CEN_DD_013 272.7 752865 7697572 998 300 -60
CEN_DD_014 509.6 754567 7704560 999 120 -60
About the Central Project
The Central Project, which directly adjoins MMG’s Khoemacau group of deposits and discoveries (combined Measured and
Indicated Mineral Resources of 94Mt @1.8% Cu and 22 g/t Ag and Inferred Mineral Resources of 188Mt @1.6% Cu and 20
g/t Ag2,3) on the KCB which, together with the nearby Banana Zone, Zone 6 and Ophion (combined Measured and Indicated
Mineral Resources of 33Mt @1.4% Cu and 21 g/t Ag and Inferred Mineral Resources of 141Mt @0.9% Cu and 10 g/t Ag )
were acquired by MMG Ltd in 2023 for US$1.9 billion. Leviathan and its qualified person have been unable to independently
verify the information in respect of MMG’s Khoemacau group of deposits and the mineralization hosted on the Khoemacau
deposits is not necessarily indicative of mineralization on Leviathan’s Project.
Central displays similar large-scale geological characteristics to those observed at Khoemacau, making the property
prospective for a Tier 1 copper discovery. Specifically, all known KCB copper deposits – including those of Khoemacau –
occur at or close to a well-understood stratigraphic contact (namely the interface between the D’Kar and Ngwako Pan
Formations) on the flanks or hinges of kilometer-scale antiforms or “domes”, typically within secondary folds, shears or other
structural trap-sites which focused the mineralizing fluids.
The Project boasts over 20 kilometers of this contact, mostly around the main domal structure referred to as the Hyena Hills
dome, as supported by recent airborne electromagnetic data, as well as high resolution ground magnetic data collected in
2023 and 2024. The Hyena Hills dome is the next dome south from those hosting the Khoemacau deposits and discoveries
(including Zone 5 and Zone 9); each of the other domes at Khoemacau hosts at least two copper deposits or discoveries. The
Project area is almost entirely ‘blanketed’ by a cover of poorly consolidated Kalahari sediments, exploration through this cover
relying on a combination of geophysical methods and drilling. AEM data are commonly used to map and model a conductive
marker unit, typically found approximately 100-200 meters above the DKF-NPF contact. Interpretations of this marker are used
to increase confidence in the location of the DKF-NPF contact and in the identification of structures affecting it, which are
considered important controls on mineralization.
Botswana is a politically stable pro-mining investment jurisdiction – ranked #2 in Africa by the Fraser Institute (2024), enjoying
investor-friendly legislation, a highly proficient and well-educated workforce, and first world infrastructure – set up to support
mining, which is a pivotal and widely-accepted national economic driver. The KCB is regarded by the USGS as one of the
world’s most prospective areas for sediment-hosted copper deposits.
Qualified Person and Data Verification
Andrew Pedley (Pr. Sci. Nat.), a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral
Projects, has approved the scientific and technical information contained in this news release relating to the Central Project.
Mr. Pedley is a consultant for Leviathan and has observed the drill core and drilling information gathered to date.
Neither the Qualified Person nor Leviathan has verified the scientific, technical or other information disclosed in respect of the
Adjacent Properties.
About Leviathan Metals Corp.
Leviathan Metals Corp., previously known as Leviathan Gold Ltd., is a Canadian-based mineral exploration company listed on
the TSXV (LVX) and Germany (0GP).
On behalf of the Company
Luke Norman, Chief Executive Officer and Director
For further information, please visit the Company website www.leviathanmetals.com, the Company’s profile on SEDAR+ at
www.sedarplus.com, or contact:
Luke Norman,
Direct: (778) 238-2333
Toll Free: 1(833) 923-3334
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has
either approval or disapproved of the contents of this press release.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of
this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are
not guarantees of future performance. Leviathan cautions that all forward looking statements are inherently uncertain and that
actual performance may be affected by many material factors, many of which are beyond Leviathan’s control. Such factors
include, among other things: risks and uncertainties relating to whether exploration activities on the Company’s properties will
result in commercially viable quantities of mineralized materials; the possibility of changes to project parameters as plans
continue to be refined; the ability to execute planned exploration and future drilling programs; the ability to obtain qualified
workers, financing, permits, approvals, and equipment in a timely manner or at all and on reasonable terms; changes in
commodity and securities markets; non-performance by contractual counterparties; and general business, geopolitical and
economic conditions. Accordingly, actual and future events, conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the forward-looking information. Although Leviathan has attempted
to identify important risks and factors that could cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be
as anticipated, estimated or intended. Consequently, undue reliance should not be placed on such forward-looking
statements. In addition, all forward-looking statements in this press release are given as of the date hereof. Leviathan
disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be required by applicable securities laws. The forward-looking
statements contained herein are expressly qualified by this disclaimer.
______________________________
1 Mineralization hosted on the Khoemacau property is not necessarily indicative of mineralization on Leviathan’s Project
2 Mineral Resources and Reserve Statement as at 30 June 2024 prepared by MMG and are reported in accordance with the
guidelines in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves (2012 JORC Code) and Chapter 18 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong
Kong Limited. See: https://www.mmg.com/wp-content/uploads/2024/12/June_2024_MROR_Executive_Summary.pdf
3 Readers are cautioned that information in respect of Khoemacau and the Banana Zone (the “Adjacent Properties”) is not
indicative of the mineralization that may or may not be found on the Properties and readers should not rely on such information
with respect to the Adjacent Properties when assessing the Properties. There is no assurance that the Properties will yield
scientific, technical or other information or results similar to that of the Adjacent Properties. The QP has not verified these
estimates or the data that supports them and that the information is not necessarily indicative of the mineralization that may or
may not be present on the Properties. The estimates were prepared under an acceptable Foreign Code (the Australasian
JORC Code, 2012 edition) and are not reported under the CIM Definitions. Under this Code, Measured, Indicated and Inferred
Mineral Resource categories are the equivalents of the same categories as defined by the CIM definitions; it is not expected
that the same mineral resources if reported under CIM would be materially different.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/aaaa2d5a-6081-43f1-8a2d-fe9d33da29ee
https://www.globenewswire.com/NewsRoom/AttachmentNg/67aa33ca-78cc-414c-8548-c257e2f6c5d5
https://www.globenewswire.com/NewsRoom/AttachmentNg/6975db20-e8ae-4c3a-a664-378d520c79a5