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M&A / Property Routine +

Leviathan Metals Announces Sale of Timor Gold Project

By The Northwire Desk — AI Analysis Mar 12, 2026 · 08:30 LVX · 0.66 Leviathan Metals Corp.
LVX · Price

Executive Summary

  • Leviathan Metals Corp. sold its 100% interest in the 11,663‑hectare Timor Gold Project to Au Gold Corp. (AUGC).
  • Consideration consists of $75,000 cash plus 5,000,000 AUGC common shares, with additional contingent cash payments of $3.00 per ounce of JORC/NI 43‑101 resources disclosed in a future technical report.
  • The transaction is expected to provide immediate liquidity and potential upside from the resource‑based earn‑out component.

Key Details

  • Asset Sold: 100% interest in Timor Gold Project (11,663 ha) held by Leviathan Gold Australia (LVX AUS).
  • Buyer: Au Gold Corp. (TSX: AUGC).
  • Agreement Date: January 12 2026.
  • Cash Consideration: $75,000 paid at closing.
  • Equity Consideration: 5,000,000 common shares of AUGC issued to LVX AUS.
  • Contingent Consideration: $3.00 per ounce of JORC or NI 43‑101 compliant resources disclosed in a technical report; payable in cash within 90 days after public disclosure of the report.
  • Closing Conditions: Subject to receipt of all required approvals and satisfaction of customary closing conditions.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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