Leviathan Metals Announces Agreement to Sell Timor Gold Project License to Au Gold Corp.

VANCOUVER, British Columbia, Jan. 15, 2026 (GLOBE NEWSWIRE) -- Leviathan Metals Corp. (“Leviathan” or the “Company”) (LVX – TSXV, LVXFF – OTC, 0GP – FSE) is pleased to announce its wholly-owned subsidiary, Leviathan Gold (Australia) Pty Ltd. (“LVX AUS”) entered into a mineral property sale agreement (“MPSA”) with Au Gold Corp. (AUGC, TSXV) pursuant to which it will sell EL006278 in the Victorian Goldfields, Australia, which license covers the Timor Gold Project (“Timor”) in exchange for a cash payment of $10,000 on signing of the MPSA, $65,000 on closing of the purchase and sale and the issuance to LVX AUS of 5,000,000 common shares of Au Gold Corp. (“AUGC”) which will result in LVX AUS owning 11.16% of the issued and outstanding shares of AUGC (based on the issued and outstanding shares of AUGC as of the date of this press release). LVX AUS does not presently hold any securities of AUGC.

Timor covers 116.45 square kilometers in the Central Maryborough district of Central Victoria, encompassing over 25 kilometers of high-grade historic mine workings that include the historic Leviathan Mine. These workings fall on a so-called “reefline” – a linear structural trend hosting quartz veins and stockworks within a broad north-south trending fault system prospective for high-grade gold mineralization. By 1862 approximately 90 such reefs were reportedly known in the area of Leviathan Mine, with production records suggesting that such occurrences produced “more than an ounce of gold per tonne”¹.

Limited diamond drilling by the Company at the Leviathan Mine returned 11.46 meters at 5.27 g/t Au from 232.05 in hole 21LEV002 (press release of March 9, 2022). Documented historic production for the Leviathan Mine is 181,000 tonnes for 67,511 ounces of gold at a grade of 11.4 g/t Au².

LVX AUS will hold the Au Gold Corp. shares for ownership and investment purposes only. Following the closing of the purchase and sale, LVX AUS intends to review, on a continuous basis, various factors related to its holdings in AUGC, including (but not limited to) the price and availability of the securities of AUGC, subsequent developments affecting AUGC or its business, and the general market and economic conditions. Based upon these and other factors, LVX AUS may decide to purchase or sell securities of AUGC.