Leviathan Metals expands Botswana copper footprint with new licence acquisition

Leviathan Metals has signed a purchase agreement with an undisclosed vendor to acquire a prospecting licence near its wholly owned Central Project in Botswana’s Kalahari Copper Belt.

The acquisition expands the company’s Central Project by 270 km², increasing its total footprint to 590 km² and significantly strengthening its exploration potential in one of the world’s most prospective copper regions.

The newly acquired licence includes more than 10 km of interpreted D’Kar Ngwako Pan Formation contact, adding highly prospective copper target structures and favourable stratigraphy to Leviathan’s growing portfolio.

Under the agreement, Leviathan will secure a 100% interest in the licence through a combination of cash, shares and a royalty arrangement. The company will pay $200,000 (C$274,374) in cash once the licence is renewed and the transfer of ownership to its wholly owned subsidiary, Innovation Surveyors, is initiated.

Upon meeting closing conditions including approval from Botswana authorities and the TSX Venture Exchange, Leviathan will pay an additional $300,000 in cash and issue 991,666 common shares to the vendor.

The agreement also includes a 1% net smelter royalty payable to the vendor, which Leviathan has the option to repurchase and cancel for $1.5 million.

The Central Project is strategically located adjacent to MMG’s Khoemacau deposits and discoveries, which are among the most significant in the region. These deposits host combined measured and indicated mineral resources of 94 million tonnes at 1.8% copper and 22 grams per tonne silver, alongside inferred resources of 188 million tonnes at 1.6% copper and 20 g/t silver.

With the addition of the new licence, the Central Project now boasts more than 30 km of key stratigraphic contact around the Hyena Hills dome structure, further enhancing its exploration upside.

The Kalahari Copper Belt has been identified by the US Geological Survey as a prime region for sediment hosted copper deposits, attracting increasing global exploration interest.

This latest move builds on Leviathan’s broader expansion strategy in Botswana. In September 2025, the company announced an amalgamation agreement with Cura Botswana and its subsidiary, 1555801 B.C., to acquire a 100% interest in a portfolio of copper and uranium exploration assets in the country.

The acquisition reinforces Leviathan Metals’ commitment to unlocking value in the Kalahari Copper Belt, positioning the company to capitalise on rising global demand for copper driven by electrification and energy transition trends.