Leviathan Metals updates diamond drill program at Central Project, 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 (GLOBE NEWSWIRE) -- , 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 property 1 , 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).

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 Ag 2 , 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: info@leviathanmetals.com

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.

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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

Globe Newswire

August 12, 2026 - 5:30 AM PDT

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