Company News:

The Dear Leviathan Shareholders and Friends of the Company

May 4, 2012: Update letter for shareholders. We at Leviathan have been progressing with the business plan and have have completed drilling on schedule and budget for the San Juan project in Sinaloa Mexico.

First off the surprising news from our drilling of twin holes and the follow up on what we understood were the drill results from US Gold. Starting from the beginning, we had a press release from US Gold, we found the drill sites, we re-drilled 2 key holes that in the news release from US Gold we understood had gold. In our drilling we found some gold we did not nearly reach the same values in our drilling that US Gold had found. Speaking frankly, this was disappointing for the team. We are very lucky not to have spent too much money and to have started with an inexpensive property option. So far we have not paid out many shares nor much cash to the property vender. For now, we feel he drill results are not the quality of asset we at Leviathan are looking for and thus we will move to a better project. Mean while have we have some drilling revenue to keep going forward and minimize dilution.

San Juan Drill Results:

At San Juan as planned Leviathan drilled a total of 5 HQ core holes. Two of these holes twinned what we believed were US Gold holes 11 and 19. The location of these holes was based on GPS comparison with old mapping and in both cases the physical holes were discovered at-site.

- Leviathan drill hole 61, which twinned US Gold drill hole 19, included a 2.245m intercept of .52 g/t Au at 39.8m depth.
- Leviathan drill hole 63, which twinned US Gold drill hole 11, did not show significant mineralization.
- Leviathan drill hole 70, included a 1.2m intercept of .2 g/t Au at 7.6m depth.
- Leviathan drill hole 71, located near hole US Gold Hole 36, did not show significant mineralization.
- Leviathan drill hole 74, located 4m from the 229 area mineralization, did not show significant mineralization.
- The 229 Area 14m trenching program, included a 2.2m intercept of 9.6 g/t Au, at a depth of 2m.
- Chip sampling from the hole 30 area, included 2 samples with 25.3 g/t Au and 15.0 g/t Au (including 66.4 g/t Au).

The team is currently assessing possible interpretations of the drill results:

- US Gold Historic data on holes 11 and 19 appears to have been subject to some form of sampling corruption, other US Gold data may be accurate.
- The 229 area appears to be a limited area high-grade section with 2m of width and an unknown length and depth.
- The hole 30 area was not drilled due to steep terrain and remains a key target area. The site contains a number of other target areas.