When the amended PEA is filed, it will be accompanied by certificates of qualified persons (as such term is defined in NI 43-101) which reference all sections of the report. Currently, the certificate filed by one of the PEA authors did not reference certain sections of the report, which consequently were not covered by any qualified person's certificate. The new consents will also be revised to identify the news release that is supported by the PEA, and to confirm that the qualified person has read that document and that it fairly and accurately represents the information in the PEA or portion thereof for which the qualified person is responsible. Additional information will be added to Conrad Huss' certificate to demonstrate the relevant experience that qualifies him to act as a qualified person in respect of the PEA.
Additional Technical Disclosure Issues
The Company has removed a comparative chart from its investor relations materials which compared the resources of several companies, as the chart included inferred resources for all of the companies compared, which is not permitted under NI 43-101.
Section 3.4 of NI 43-101 includes the requirement that where written disclosure of mineral resources is made respecting a property material to an issuer, the following information must be provided: the effective date of each estimate of mineral resources and mineral reserves; the key assumptions, parameters, and methods used to estimate the mineral resources and mineral reserves; (d) the identification of any known legal, political, environmental, or other risks that could materially affect the potential development of the mineral resources or mineral reserves; and (if the disclosure includes the results of an economic analysis of mineral resources, an equally prominent statement that mineral resources that are not mineral reserves do not have demonstrated economic viability. This information was missing from the Company's fact sheet and corporate presentation, which have been amended to include references to the July Report, where this information is provided. The July Report does not include the statement required by Section 3.4 (e), which will be added when the amended July Report is filed, as discussed above.
Where the Company refers in its investor materials to the results of an economic evaluation including an NPV based in part on inferred resources, it has added a cautionary statement which is required by NI 43-101. Information in the Company's fact sheet which provided a favourable case from the PEA but did not balance this disclosure with the base case and an unfavorable case has been removed from the fact sheet, and readers have been referred to the disclosure in the PEA.
The Company has also removed the term "mine scale targets" from its web page, as this could imply that a mine will be constructed on what are merely exploration targets. The Company has also added information on the identity and relationship to the Company of the qualified person who prepared or supervised the preparation of technical information disclosed in the materials on its web page.
About Levon Resources Ltd.
Levon is a gold and precious metals exploration company, exploring the Cordero bulk tonnage silver, gold, zinc and lead project, near Hidalgo Del Parral, Chihuahua, Mexico. The Company also holds interests in three mineral properties located in British Columbia, Canada, also three mineral properties located in Nevada, USA.
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