• First results from shallow drilling consistent with the margins of a broader mineralizing system, provides robust targeting information.
• Clear relationship between copper mineralization and progressively increasing shearing, brecciation and faulting, as well as accompanying lead and zinc “halo” mineralization.

VANCOUVER, British Columbia, Nov. 10, 2026 (GLOBE NEWSWIRE) -- Leviathan Metals Corp. (“Leviathan”, the “Company”) (LVX – TSXV, LVXFF – OTC, 0GP – FSE) is pleased to report the receipt of initial assay results from its diamond drilling program at the Company’s 100%-owned Central Project (“Central”, the “Project”), Kalahari Copper Belt (the “KCB”), Botswana.

Results have been received for targeted horizons within 6 holes, and include 2.3m @ 0.15% Cu from 228m in hole CEN_DD_003¹, 1.0m @ 0.1% Cu and 5 g/t Ag from 162m in hole CEN_DD_009, 1.06m @ 0.2% Cu and 10.91 g/t Ag from 116.8m in hole CEN_DD_016, and 1.29m @ 0.47% Cu and 11.9 g/t Ag from 142.9m in hole CEN_DD_017.

These results, when taken in the context of their host lithology and structure, are considered to represent the margins of a broader mineralizing system within Central. At known deposits elsewhere on the KCB, “peak” intersections in excess of 0.1% Cu per drill hole each occur within the mineralized envelopes of their respective deposits². Lead and zinc are also known to associate with KCB-style mineralization in a proximal manner, and as such the anomalous manifestations of these two metals in the reported intervals are considered a favourable zoning indicator, see Table 1.

At Central, the reported results fall within a geological envelope measuring in excess of 4 kilometers in length (Figure 1). This envelope is concordant with interbedded siltstones and sandstones close to the so called D’Kar-Ngwako Pan Formation (“DKF-NPF”) contact – target KCB stratigraphy – in combination with folding, shearing, brecciation and faulting each of styles typical of other KCB deposits that together appear to serve to "concentrate” mineralizing fluids.

All but two drill holes from the Central program to date display visual copper sulphide mineralization, all yield pXRF copper readings, almost every hole has encountered the DKF-NPF contact, and the domal structure previously inferred to exist on the basis of geophysical data prior to drilling is robustly reflected in Leviathan’s drilling data.

Leviathan Chief Operations Officer, Jeremy Crozier, remarked: “Initial results from shallow drilling at Central appear consistent with the margins of a broader mineralizing system. Practically every hole displays evidence of mineralization, and our geological work shows a clear relationship between copper mineralization and progressively increasing shearing, brecciation and faulting (which serve to “prepare” the rocks for fluid passage), as well as lead and zinc “halo” mineralization, providing us with strong vectors for continuing drilling. More simply put, there are more indicators present than simply copper itself, and together these demonstrate the presence of a mineralizing system.

“Beyond these vectored targets, significant areas of Central remain very thinly tested”.

A number of so-called “vectors” – or directional targeting factors – are being developed from Leviathan’s drilling dataset and are being used to guide ongoing drilling and are shown in composite form in Figure 2. At the time of writing, slightly over 7,000 meters of drilling have been completed at Central across twenty-six holes (Table 2). Further results will be reported once in hand. Significant portions of the interpreted DKF-NPF contact at the Project have only been tested at a very broad drill pattern, and in places at a spacing of up to two kilometers.

Delays due to the analytical performance of certified reference materials inserted into the sample flow for QAQC purposes have slowed Leviathan’s ability to report results. The Company is actively addressing this matter and expects to report further results shortly.

Figure 1: Drill collar locations at Leviathan’s Central Project relative to AEM horizonal depth (850 masl) slice conductivity data, and the DKF-NPF contact. Highlighted holes reported in this News Release. “Hotter” colours map out more conductive rocks, interpreted to be the carbonaceous and pyritic black shales of the mid D’Kar Formation.

Figure 2: Initial assay results, vectoring, and pXRF Cu and Pb+Zn data shown in oblique projection over the Hyena Hills Dome as modelled by drilling (metallic grey), looking southeast. Drill holes for which laboratory assays have been received are marked by a white background to their marker. MMG’s Khoemacau group of deposits and discoveries falls immediately to the north of the field of view. In each of the above four renderings, the magenta lollipop collar markers represent “basket” prospectivity – or “vectors” derived from an array of observed structural, lithological and mineralogical characteristics observed from a mineral systems standpoint. The diameter of said markers varies in accordance with prospectivity strength.

Table 1: Collar positions of the holes drilled to date (given as WGS 84 UTM - zone 34S).

Table 2: Central Project Drill Intercepts at a 0.1% and 0.05% Cu cut-off grades.

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 Ag³,⁴) 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.

Copper sulphide minerals – in the form of chalcopyrite, in some cases accompanied by bornite and/or chalcocite – have been observed in almost all holes, over intervals of up to 10 metres or more. 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.

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

Graham Norton (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. Norton 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.

Drilling was carried out by independent contractor, Mitchell Drilling International (“Mitchell”) using a Sandvik DE710 diamond rig. Drill holes were collared using PCD then PQ drilling methods into fresh rock, then completed using HQ size tooling. Average core recovery for the program to date is 99%. Drill core was cut in half by the site team using a rock saw with one half of the core then taken as a sample for analysis. Sample intervals were generally between 30 to 150 cm (average of 93 cm) producing samples of between 1 to 5 kg. Samples were delivered to the independent SGS geochemistry laboratory facilities in Randfontein, South Africa. The samples were dried, crushed and pulverized using method codes DRY105, CRU75 and PUL85_CR respectively, then underwent multielement determination by four acid digest with ICP OES finish (method code ICP40Q12). Copper over-limits were analysed using an appropriate method. Leviathan routinely inserted multi-element geochemical standards, blanks, field and laboratory duplicates samples into the drill core sample stream as part of a documented Quality Assurance/Quality Control (QAQC) process to monitor laboratory performance. Leviathan inserted QAQC material at a rate of 4 certified standards, 4 quartz blanks and 4 field or laboratory duplicates per every 100 samples; averaging 12% of the sample stream. QAQC sample results, in copper mineralisation, which did not pass Leviathans QAQC controls were re-assayed at an interval of 10 samples before and after the failed QAQC sample, until the results passed Leviathan’s QAQC controls.

AboutLeviathanMetals 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-LookingStatements

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 Ag below detection limit in hole CEN_DD_003.
² Catterall, David (2026) KCB Vectors, Targeting and Effective Ranking (unpublished).
³ 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
⁴ 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/23fb0207-cc14-4c6e-b3b8-f3cf31ad7cf0

 https://www.globenewswire.com/NewsRoom/AttachmentNg/58d4b84b-ff9a-4cf7-90c2-47089505cc10

Figure 1:

Drill collar locations at Leviathan’s Central Project relative to AEM horizonal depth (850 masl) slice conductivity data, and the DKF-NPF contact. Highlighted holes reported in this News Release. “Hotter” colours map out more conductive rocks, interpreted to be the carbonaceous and pyritic black shales of the mid D’Kar Formation.

Figure 2:

Initial assay results, vectoring, and pXRF Cu and Pb+Zn data shown in oblique projection over the Hyena Hills Dome as modelled by drilling (metallic grey), looking southeast. Drill holes for which laboratory assays have been received are marked by a white background to their marker. MMG’s Khoemacau group of deposits and discoveries falls immediately to the north of the field of view. In each of the above four renderings, the magenta lollipop collar markers represent “basket” prospectivity – or “vectors” derived from an array of observed structural, lithological and mineralogical characteristics observed from a mineral systems standpoint. The diameter of said markers varies in accordance with prospectivity strength.

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