ONE OF THE WORLD’S LARGEST SILVER RESOURCES
CORDERO PROJECT, MEXICO
July 2013
SAFE HARBOUR DISCLAIMER
Certain statements contained herein regarding the Company and its operations constitute
“forward-looking statements” within the meaning of the United States Private Securities
Litigation Reform Act of 1995. All statements that are not historical facts, including without
limitation statements regarding future estimates, plans, objectives, assumptions or expectations
for future performance, are “forward-looking statements.” We caution you that such “forward
looking statements” involve known and unknown risks and uncertainties that could cause actual
results and future events to differ materially from those anticipated in such statements. Such
risks and uncertainties include fluctuations in precious metal prices, unpredictable results of
exploration activities, uncertainties inherent in the estimation of mineral reserves and resources,
fluctuations in the costs of goods and services, problems associated with exploration and mining
operations, changes in legal, social or political conditions in the jurisdictions where the Company
operates, lack of appropriate funding and other risk factors, as discussed in the Company’s filings
with Canadian and American Securities regulatory agencies. Resource and production goals and
forecasts may be based on data insufficient to support them. Mr. Vic Chevillon, MSc, CPG, is the
Qualified Person for the Company as required by NI 43-101. The Company expressly disclaims any
obligation to update any forward-looking statements.
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IN THIS PRESENTATION
WHO WE ARE
OUR VISION
SILVER: VITAL FOR INDUSTRY & TECHNOLOGY
KEY ASSET: CORDERO Ag/Au/Zn/Pb PROJECT
MEXICO: NO BETTER PLACE FOR MINING
OUR TEAM
SHARE DATA
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WHO WE ARE
Discovered and then expanded
the Cordero Ag, Au, Zn, Pb
porphyry deposit into one of the
world’s largest silver resources—
37 months from grassroots to
major resource
Silver & Gold focused with
Cordero project as key asset
Focused, aggressive exploration
for additional world class
discoveries
Part of Mexico’s economic revival
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Canadian company trading on
the TSX, symbol LVN
Debt-free & well funded for
planned exploration.
OUR VISION
Building the premier mid-tier silver and gold
exploration company in the world by advancing
a portfolio of world class, quality discoveries
toward production
Explore in the best global jurisdictions with safe
title, excellent infrastructure and strong mining
cultures for maximum stakeholder benefit and
long term success
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SILVER
One of the world’s most vital metals for industry and technology
Shrinking above-ground supplies
Increasing demand in both the industrial and investment sectors
High gold/silver ratio—currently above 50:1
Growing stream of new uses for silver—particularly in technology
WE BELIEVE SILVER IS IN THE EARLY STAGES OF A LONG-TERM,
UNPRECEDENTED BULL MARKET
VITAL FOR INDUSTRY & TECHNOLOGY
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KEY ASSET: CORDERO POLYMETALLIC PROJECT
ONE OF MEXICO’S PREMIER PORPHYRY TARGETS
HOST ROCKS, GEOLOGY, METAL
ASSEMBLAGE AND SIZE ANALOGOUS
WITH NEW WORLD-CLASS, BULK
TONNAGE SILVER DEPOSITS IN MEXICO
Penasquito Mine,
Goldcorp
Camino Rojo,
Goldcorp
Pitarilla (no gold),
Silver Standard
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DEVELOPING A NEW PORPHYRY DISTRICT
DISTRICT-SCALE DISCOVERIES ON 20,000 HECTARES
Two porphyry belts and a third
mineralized volcanic centre to
the south
Central discovery:
‒ Outcropping open pit
resource
‒ Excellent conventional
metallurgy
Outlying, drilled
mineralization for future
follow up and upside
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CORDERO’S NI 43-101 RESOURCE
Ag: 364M oz indicated, 91.2M oz inferred*
Au: 945,000 oz indicated, 152,000 oz inferred*
In less than four years, Levon recognized an Ag, Au, Zn, Pb porphyry
system, drilled the discovery holes and defined the large resource:*
NSR
Cutoff $/t
Resource
Class
Million
Tonnes
Ag
g/t
Au
g/t
Pb
%
Zn
%
6.00
Indicated 547.70 20.67 0.054 0.27 0.51
Inferred 134.33 21.12 0.035 0.23 0.41
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* Please see resource-related disclosure on the following slide.
Resource is not drilled off and is open for expansion on strike and at depth
RESOURCE-RELATED DISCLOSURE
CORDERO INDICATED & INFERRED RESOURCE
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Resources are reported from the updated resource report: Cordero Project, June 2012 Mineral
Resource Update, completed by Independent Mining Consultants (IMC) in collaboration with M3
Engineering and Technology (M3) of Tucson, AZ. The report was filed on August 02, 2012 and is
available for viewing at www.sedar.com or at http://www.levon.com
The resource is within an open pit geometry generated by a floating cone algorithm using metal
prices and recoveries of: Lead, $1.00/lb and 70% recovery; Zinc, $1.00/lb and 70% recovery; Silver,
$25.00/oz with 60% recovery to a lead concentrate and 15% recovery to a zinc concentrate.
The Technical Report: Cordero Project, June 2012 Mineral Resource Update was authored and
approved by Herbert E. Welhener, MMSA-QPM, SME Registered Member #3434330RM who is the
Qualified Person for purposes of this Technical Report and the associated updated resource
calculation.
The following risk issues have been identified for the Cordero project:
Cordero as currently understood is a low grade, bulk tonnage deposit which will need favorable
metal recoveries, metal prices and low operating costs to be developed.
PRELIMINARY ECONOMIC ASSESSMENT*
Preliminary Economic Assessment (PEA) base case projects a
14.80% Internal Rate of Return (IRR) based on a silver price of
US$25.15 (IRR of 23.4% based on $US30.18 silver)*
15-year mine life to complete the first four stages of a planned
eight-stage open pit*
40,000 tpd mill*
Payback in 5.1 years (3.8 years using US$30.18 silver)*
BASED ON ONLY 30% OF THE OPEN PIT RESOURCE
PEA SHOWS A 3.8-YEAR PAYBACK @ $30.18 SILVER
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* See PEA-related disclosure on following slide. For scenarios based on other silver prices, please see Sensitivity Analysis on Slide #13.
PRELIMINARY ECONOMIC ASSESSMENT
RELATED DISCLOSURE
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A Preliminary Economic Assessment should not be considered to be a prefeasibility or
feasibility study, as the economics and technical viability of the Project have not been
demonstrated at this time. The preliminary economic assessment is preliminary in
nature and includes inferred mineral resources that are considered too speculative
geologically to have the economic considerations applied to them that would enable
them to be categorized as mineral reserves. Furthermore, there is no certainty that
the preliminary economic assessment will be realized. Mineral resources that are not
mineral reserves do not have demonstrated economic viability.
The Technical Report: Cordero Project, Preliminary Economic Assessment was authored
and approved by Herbert E. Welhener, MMSA-QPM, SME Registered Member #3434330RM
who is the Qualified Person for purposes of this Preliminary Economic Assessment and
the associated updated resource calculation.
INITIAL AFTER-TAX PEA SENSITIVITY
ANALYSIS
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PHASE 1 DISCOVERY HOLE C09-5
Analogous with Penasquito
diatreme mineralization
now being mined by
Goldcorp
152M INTERSECTION GRADING:
80.6 g/T Silver
0.61 g/T Gold
1.41% Zinc
2.27% Lead
TYPE 1 - POZO DE PLATA DIATREME DISCOVERY
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TYPE 2 – POZO DE PLATA DIATREME BRECCIA REPLACEMENT MINERALIZATION
26M INTERSECTION GRADING:
410.1 g/t Ag
1.057 g/t Au
2.92% Zn
7.06% Pb
Analogous with high grade
underground ore at Penasquito
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PORPHYRY STYLE MINERALIZATION
Mineralized Pervasive potassic alteration
cut by incomplete pervasive phyllic
alteration
Disseminated galena, sphalerite and pyrite
Below stockwork vein sphalerite, galena
veins and crackle breccia
Analogous with porphyry
feeder of Penasquito
diatremes being mined
TYPE 3 – CORDERO PORPHYRY ZONE
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SCALE OF STAGE 8 MODELED OPEN PIT
FIELD VIEW OF STAGE 8 MODELED OPEN PIT LOOKING NE
2.3 km wide (this NE view) x 3 km long (NE)
Resource blocks crop out = low waste-to-ore strip ratio of 1.7/1
Open to the south, north, northeast and at depth
Undrilled areas in 8 Stage open pit are modeled as unmineralized waste
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WHAT’S NEXT AT CORDERO?
PHASE 4 TARGETING PROJECT ECONOMICS
FURTHER IMPROVE THE PROJECT’S ECONOMICS
Under the direction of M3 Engineering and Independent
Mining Consultants
Expand mill design – targeting 80,000 tpd
Further engineering and metallurgy studies
Complete second round of metallurgical testing for
stage 4 open pit of PEA
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MEXICO: NO BETTER PLACE FOR MINING
MANY COMPETITIVE ADVANTAGES
WHY WE’RE MEXICO-FOCUSED
Political and financial stability
Safe title
100% foreign ownership of assets
allowed
Easy and economical access from
anywhere in North America
Modern and growing infrastructure for
communications and transportation
An emerging economic powerhouse
Educated and skilled labor force
Strong historical and current mining
culture
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IN THE COMMUNITY
Levon relies on local ranchers, suppliers, contractors and service
providers in nearby Hildalgo Del Parral
Parral is a rich source of skilled and dedicated labor
Good neighbor in the community
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OUR TEAM
Ron Tremblay, President/CEO and Director
Ron Barbaro, Chairman and Director
Vic Chevillon, M.Sc., C.P.G., V.P. Exploration and Director
Carlos H. Fernandez Mazzi, Director/Head of Project Development Committee
Annie Chan, CFO
Gary Robertson, Director
Rob Roberts, Director
Dorothy Chin, Corporate Secretary
Francisco Valencia, Senior Accountant
Ron Tremblay and Vic Chevillon at Cordero
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SHARE INFO
AND SHARE PRICES
Shares Outstanding 199,854,423
Options Outstanding 15,090,000 Average Weighted Price C$0.84
Fully Diluted 214,944,423
Recent Price C$0.32
52-Week Range C$0.72 – 0.28
Insiders own approximately 15% of fully diluted shares
Key Shareholders
Newmont Mining
23 Institutional Shareholders
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900 – 570 Granville St
Vancouver, BC V6C 3P1
604.682.3701
IR contact: 604.682.2991
LEVON.COM
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