Leviathan Metals Intersects High-Grade Zinc, Lead and Silver mineralization in trenching at Foca, Bosnia and Herzegovina

On January 22, 2026, Leviathan Metals announced results from its mechanical trenching program at the Foca Project in Bosnia and Herzegovina. The company reported high-grade zinc, lead, and silver mineralization from the Vrela-Kremin trend. * Key Highlights: * Trench T25MAR04 returned 14 meters at 7.78% Zinc Equivalent (ZnEq) within a broader 27-meter interval grading 4.63% ZnEq. * Trench T25MAR11 returned 12 meters at 8.92% ZnEq within a broader 29-meter interval grading 4.67% ZnEq. * Sampling confirmed a mineralized structural corridor striking over 2.6 kilometers. * Management Commentary: CEO Luke Norman stated these results demonstrate high-grade, near-surface mineralization and set the stage for drilling in the 2026 exploration season.

While the grades reported are economically significant (ranging from 4% to nearly 9% ZnEq over respectible widths), this news is Routine - Positive rather than a Game Changer for the following reasons: 1. Surface vs. Depth: Trenching confirms surface mineralization but does not prove depth extension or continuity, which only diamond drilling can provide. 2. Valuation Context: The stock has appreciated approximately 1,400% over the last year (from $0.05 to $0.74). The market has likely already priced in significant exploration success following the strategic pivot to Bosnia and Botswana. Validation of surface grades helps support this valuation but does not justify a new leg up without drill confirmation. 3. Timeline: The release notes that this work "sets the stage for drilling." This implies a waiting period before the next major catalyst (drill assays), leaving the stock vulnerable to profit-taking in the interim.

Leviathan Metals Corp. (formerly Leviathan Gold) underwent a strategic pivot in 2025, moving away from Australian gold assets to focus on base metals in the Balkans and Africa. * Flagship 1: Foca Project (Bosnia & Herzegovina): A 100 sq km land package in the Republika Srpska. It targets Silver-Lead-Zinc mineralization similar to Adriatic Metals' Vares Project. The Vrela-Kremin trend is the priority target. * Flagship 2: Central Project (Botswana): Acquired via the Cura Exploration deal (Nov 2025). Located on the Kalahari Copper Belt, adjoining MMG’s Khoemacau copper deposits. This offers "Tier 1" copper discovery potential. * Legacy Assets: The company recently sold its Timor Gold Project (Australia) but retains upside via shares in Au Gold Corp and milestone payments.