Results Of Diamond Drilling At Excelsior Prospect

VANCOUVER - Leviathan Gold Ltd. reported that results have been received for a further two holes of the program at the Avoca project in the Victorian goldfields, Australia. The best interval from these holes is 5.40 g/t Au over 11.02 meters from 84.37 meters, including 17.72 g/t over 2.19 meters returned from hole EH005, drilled at the Excelsior Reef. EH005 was collared approximately 30 meters east of holes EH002 and EH003 and was drilled at the same inclination and a similar azimuth as the latter. This interval is thought to represent both the strike extension of mineralization observed in holes EH002 and EH003, as well as the down-dip continuation of mineralization observed in historic mine workings. As with hole EH003, hole EH005 is characterized by quartz veining and enveloping sericitic alteration and base metal sulphides.

Chief Executive Officer, Luke Norman, said, "We are very pleased that drilling at the Excelsior Reef continues to confirm not only the presence of high-grade gold mineralization across multiple sample intervals, but also the initial stages continuity of this mineralization between drill hole. These results are consistent with structural observations gathered by our geological team prior to the receipt of assays - thereby validating our approach of applying modern drilling and exploration techniques in and around areas of historic mine workings. The results of a further eight drill holes from this program remain outstanding, and the prioritization of further targets is ongoing"

The Excelsior prospect is interpreted to host structurally controlled gold mineralization developed within quartz veins. Historic production records from Excelsior indicate the mining of 13,200 tons for 9,260 ounces of gold down an ore shoot to a depth of 100 meters at an average recovered grade of 22 g/t Au between 1909 and 19151, with said mineralization open to depth and along strike. Recent exploration work completed on Excelsior included surface sampling and mapping. Two soil sampling traverses were conducted at the western part of the prospect, one pf which crossed considerable quartz vein float. The outcrop of the reef is presently covered by mine tailings. The initial phase of drilling work by Leviathan, which is expected to comprise at least 5,000 meters of diamond drilling, has been designed to target near-surface strike and depth projections of mineralization around and beneath the Excelsior Reef.