Levon Clarifies Technical Disclosure Related to Its Congress Property
May 05 2011 - 7:29PM
Marketwired
Levon Resources Ltd. ("Levon" or the "Company") (TSX VENTURE:
LVN)(BERLIN: LO9)(FRANKFURT: LO9) is issuing the following news
release to clarify its technical disclosure regarding the Congress
property as a result of a review by the British Columbia Securities
Commission.
Presently, the Company's only material property is the
Cordero-Sanson Property ("Cordero") 37 km northeast of the town of
Hidalgo Del Parral, in the state of Chihuahua in north central
Mexico. The Company acquired a 51% interest in Cordero pursuant to
an agreement it entered into with Valley High Ventures Ltd. ("VHV")
in February, 2009, and acquired the remaining 49% of Cordero which
it did not own through the acquisition of VHV in March, 2011.
Prior to the Company's acquisition of its interest in Cordero,
the Company's sole material property was the Congress property,
located near Carpenter Lake, British Columbia ("Congress").
Congress was the subject of a technical report prepared in November
2005, as filed on SEDAR (the "Congress Technical Report"), which
classified and restated historical resource estimates as current
resources estimates in a manner not in compliance with the
requirements of National Instrument 43-101.
This non-compliant disclosure regarding the Congress property
was subsequently replicated in certain of the Company's continuous
disclosure documents, including (a) the Company's annual
information form for the year ended March 31, 2010 (the "AIF"); (b)
certain news releases of the Company (including those dated
November 23, 2005 and October 10, 2006) and (c) in disclosure
contained on the Company's website (including investor materials
disclosing a current resource estimate of 194,000 ounces of
gold).
The currently available information on the Congress property is
inadequate to support the disclosure of mineral resources, and any
prior disclosure made by the Company indicating otherwise should be
disregarded and should not be relied upon.
The Company formally retracts all disclosure of any current
resource estimates on the Congress property, has removed all such
disclosure from its website, and will refile on SEDAR its annual
information form for the year ended March 31, 2010 to reflect the
retraction of such non-compliant disclosure.
The Company has no plans to carry out additional exploration
programs on the Congress property at this time.
Vic Chevillon, MA, CPG, Vice President of Exploration for Levon,
is a qualified person within the context of National Instrument
43-101 and has read and takes responsibility for this news
release.
About Levon Resources Ltd.:
Levon is a junior gold and precious metals exploration company
exploring the Cordero silver, gold, zinc and lead project near
Hidalgo Del Parral, Chihuahua, Mexico. The Company also holds
certain interests in three mineral properties located in British
Columbia, Canada, namely the Congress property, the Goldbridge
property (also known as the BRX claims) and the Wayside claims, and
three mineral properties located in Nevada, U.S., namely the Eagle
claims and the Norma Sass and Ruf claims.
LEVON RESOURCES LTD.
Ron Tremblay, President and CEO
This release contains statements that are forward-looking
statements and are subject to various risks and uncertainties
concerning the specific factors disclosed under the heading "Risk
Factors" and elsewhere in the Company's periodic filings with
Canadian securities regulators. Such information contained herein
represents management's best judgment as of the date hereof based
on information currently available. The Company does not assume the
obligation to update any forward-looking statement, except as
required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Levon Resources Ltd. Ron Tremblay President and CEO
(604) 682-3701 (604) 682-3600 (FAX) www.levon.com
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