Leviathan Metals Enters into Purchase Agreement to Acquire Key Strategic Kalahari Copper Belt Landholding, Botswana

The most recent news (March 19, 2026) announces the acquisition of a 270 sq km Prospecting License in the Kalahari Copper Belt (KCB), Botswana. This expands the "Central Project" to 590 sq km. The license adds 10km of the D'Kar-Ngwako Pan Formation contact, which is the primary geological target for copper mineralization in the region. Terms include US$500,000 in cash (staged) and 991,666 shares, plus a 1% NSR. This follows the March 12, 2026, announcement of the sale of the Timor Gold Project in Australia to Au Gold Corp for $75,000 cash and 5 million shares, effectively exiting non-core gold assets to focus on the KCB and the Foca silver-zinc project in Bosnia.

• Strategic Alignment: The news is a logical continuation of the company’s pivot (signaled by the November 2025 name change from Leviathan Gold to Leviathan Metals). It consolidates their position in Botswana near MMG’s Khoemacau mine.
• Asset Quality: Adding 10km of a proven mineralized contact is positive but remains early-stage exploration. The "Central Project" now has significant scale.
• Financial Impact: The acquisition requires US$500,000 in cash. While the company had ~$2.96M CAD in Dec 2025, the ongoing burn rate and acquisition costs will necessitate a capital raise soon.
• Portfolio Cleanup: Selling the Timor project removes the AUD$1/oz royalty obligation to Mercator and provides liquid equity in Au Gold Corp, though the cash received ($75k) is nominal.

Leviathan Metals is a Canadian explorer focused on "Tier 1" jurisdictions. - Flagship Project (Copper): The Central Project in Botswana (KCB), located adjacent to the US$1.9B Khoemacau mine. It targets sediment-hosted copper-silver mineralization. - Secondary Flagship (Silver/Zinc): The Foca Project in Bosnia and Herzegovina, covering 150 sq km. It shows high-grade polymetallic potential (Vrela-Kremin trend) similar to Adriatic Metals' Vares project.