Levon Clarifies Technical Disclosure Related to Its Congress Property
Published : May 05, 2011
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Keywords :   Canada | G Mexico | Gold | Lead | Market | Mexico | Precious Metals | Silver | Zinc |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 5, 2011) - Levon Resources Ltd. ("Levon" or the "Company") (News - Market indicators)(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.

Levon Resources Ltd.
Ron Tremblay
President and CEO
(604) 682-3701
(604) 682-3600 (FAX)
www.levon.com
Data and Statistics for these countries : Canada | Mexico | All
Gold and Silver Prices for these countries : Canada | Mexico | All

Levon Resources

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CODE : LVN.V
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Levon is a silver and zinc development stage company based in Canada.

Levon holds various exploration projects in Canada.

Its main exploration properties are CONGRESS PROPERTY, EAGLE CLAIMS (CORRALL CANYON), NORMA SASS CLAIMS, RUF, BRX (GOLD BRIDGE AREA) and MT. POLLEY in Canada and CORDERO-SANSON in Mexico.

Levon is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 186.9 millions as of today (US$ 187.0 millions, € 141.7 millions).

Its stock quote reached its lowest recent point on January 23, 2009 at CA$ 0.05, and its highest recent level on April 21, 2011 at CA$ 2.38.

Levon has 198 821 000 shares outstanding.

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Annual reports of Levon Resources
2008 Annual report
Annual Reprot 2007
Financings of Levon Resources
7/31/2009Closes $800,000 Non Brokered Private Placement
6/22/2009Non-brokered private placement to advance Cordero project an...
Nominations of Levon Resources
3/29/2011WELCOMES TWO NEW BOARD MEMBERS
2/24/2009APPOINTMENT OF VICE PRESIDENT - EXPLORATION
9/10/2007NEW APPOINTMENT TO THE BOARD OF DIRECTORS
Project news of Levon Resources
4/5/2017to Complete Resource Infill Drilling to Test a Starter Pit S...
5/5/2011(Congress Property)Clarifies Technical Disclosure Related to Its Congress Prope...
3/17/2011(Cordero-sanson)Discovers High Grade Contact Replacement Style Mineralizatio...
4/7/2010(Cordero-sanson)Phase 2 Drilling at Cordero Project
9/2/2009(Cordero-sanson)Trenching expands targets at Cordero Project, Mexico
6/10/2009(Cordero-sanson)Exploration at Cordero Discovers New Zone and Expands the Di...
3/2/2009(Cordero-sanson) & Valley High Begin Work at the Cordero Silver, Gold, Lead,...
Corporate news of Levon Resources
6/27/2011LEVON'S WARRANTS EXERCISED IN FULL
6/21/2011Reports First Bulk Tonnage NI 43-101 Compliant Resource at I...
5/19/2011ANNOUNCES CLOSING OF $40,170,000 OFFERING
4/30/2011Accelerates the Expiry of Former Valley High Warrants
4/28/2011ACCELERATES EXPIRY OF WARRANTS
4/13/2011We Will Be Moving Thursday April 14th
4/11/2011RESOURCED LTD. INCREASES SIZE OF BOUGHT DEAL FINANCING TO $4...
3/26/2011COMPLETES ACQUISITION OF VALLEY HIGH VENTURES
3/22/2011ANNOUNCES THAT VALLEY HIGH SHAREHOLDERS AND OPTION HOLDERS A...
2/12/2009JOINT VENTURE WITH VALLEY HIGH VENTURES AT THE CORDERO PROPE...
1/23/2009EARLY WARNING REPORT
11/5/2008Letter to the Shareholders
9/24/2008CONGRESS PROPERTY, BC DRILLING SUMMARY REPORT RELEASED
8/28/2007Announces Investor Relations Agreement
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