Leviathan Gold Acquires Mineral-rich Land in Bosnia

Deal News | Feb 10, 2025 | Globenewswire

Leviathan Gold Ltd., a Vancouver-based mining company, has completed the acquisition of Foca Metals Corp., now a wholly owned subsidiary, through a share exchange agreement. This acquisition grants Leviathan Gold a 100% indirect interest in the Foa Project, a promising mineral exploration land package in Republika Srpska, Bosnia and Herzegovina. The Foa Project spans 100.7 square kilometers and includes multiple potential silver and base metal targets. It is situated in the Central Dinaride metallogenic zone, known for its rich mineral deposits comparable to those in the Vares Project of Adriatic Metals and the Trepa Mines in Kosovo. The acquisition required the issuance of 9,000,000 common shares of Leviathan Gold to former Foca Metals shareholders. Leviathan plans to conduct detailed geological exploration in the area, leveraging new industry favorable legislation in Republika Srpska that enhances land availability and operational ease. This strategic move aims to uncover new mineral resources in a relatively unexplored region, capitalizing on the company's expertise in Balkan mineral exploration.

Sectors

Mining & Metals

Geography

Bosnia and Herzegovina – The acquisition and associated mineral exploration activities are taking place in Republika Srpska, a region in Bosnia and Herzegovina.
Canada – The acquiring company, Leviathan Gold Ltd., is based in Vancouver, British Columbia.

Industry

Mining & Metals – The acquisition involves mineral exploration and potential mining activities related to silver and base metals in Bosnia, highlighting the Mining & Metals sector.

Financials

9,000,000 common shares – Issued by Leviathan Gold to acquire all the shares of Foca Metals Corp.
CAD 200,000 – Cash payment required to exercise the option with OC44 Shareholders.
CAD 350,000 – Future cash payment required within 12 months post-acquisition to maintain ownership of OC44 Shares.

Participants

Name	Role	Type	Description
Leviathan Gold Ltd.	Acquirer	Company	A mining company based in Vancouver, British Columbia, focused on the acquisition and exploration of mineral properties.
Foca Metals Corp.	Target	Company	Previously known as LS Lithium Corp., it is now a subsidiary of Leviathan Gold, holding interests in mineral exploration projects in Bosnia and Herzegovina.
Adriatic Metals plc	Comparison Company	Company	A company with significant mineral resources in the vicinity of the Foa Project, providing context for the mineral potential in the region.
Drustvo sa ogranicenom odgovornoscu Outcrop 44 (OC44)	Mineral Tenement Holder	Company	A company holding mineral tenements in Republika Srpska, with whom FMC has an option agreement for shares acquisition.