Fosterville South Receives Final Approval of the Court for Spinout of Leviathan Gold Ltd. Shares to Fosterville South Shareholders - Seite 2

If: (i) the Escrow Release Conditions are not satisfied on or before the date that is 3 months from the closing date of the Offering (the “Escrow Release Deadline”); or (ii) prior to the Escrow Release Deadline Leviathan Finance advises Clarus or announces to the public that it does not intend to satisfy the Escrow Release Conditions, the Escrowed Funds (plus accrued interest earned thereon) shall be returned to the holders of the Subscription Receipts on a pro rata basis and the Subscription Receipts will be cancelled without any further action on the part of the holders. To the extent that the Escrowed Funds (plus accrued interest) are not sufficient to refund the aggregate subscription price paid by the holders of the Subscription Receipts, Leviathan Finance shall be responsible and liable to contribute such amounts as are necessary to satisfy any shortfall.

The net proceeds of the Offering will be used by Leviathan to fund the purchase price for the Avoca and Timor projects and for general working capital.

Fosterville South Chief Executive Officer, Bryan Slusarchuk, states, “Unsolicited expressions of interest for this Leviathan Gold financing have greatly exceeded expectations and we are pleased to see the institutional demand for the financing so strong. Obviously, there will be many cutbacks prior to closing given the very strong demand and we appreciate the understanding of investors that did not receive full allocations. Leviathan Gold will emerge as a public company with a very strong treasury, excellent gold projects and a management team with a track record of creating shareholder value. We look forward to seeing the company execute on the ground, for the benefit of all stakeholders.”

Leviathan Finance also intends to undertake a non-brokered financing of up to $250,000 on the same terms as the Offering.

About Fosterville South Exploration Ltd.

Fosterville South has two large, 100% owned, high-grade epizonal gold projects called the Lauriston and Golden Mountain Projects, a large group of tenement applications called the Providence Project and a large group of recently consolidated tenement applications called the Walhalla Belt Project, all in the state of Victoria, Australia. The Fosterville South land packaged, assembled over a multi-year period, notably includes a 600 sq. km property immediately to the south of and within the same geological framework that hosts Kirkland Lake Gold's Fosterville tenements. Additionally, Fosterville South has gold-focused projects called the Moormbool, Timor and Avoca Projects, which are also located in the state of Victoria, Australia.