Exploration Agreement With Barrick On Norma Sass Property

VANCOUVER, BC - Levon Resources Ltd. and Coral Gold Resources Ltd.'s wholly-owned U.S. subsidiary, Coral Resources, Inc. (CRI) have entered into an exploration, development and mine operating agreement with Barrick Gold Exploration Inc., wherein Barrick is granted the option to acquire up to a 75% interest in CRI's and Levon's interests in the Norma Sass Property, Nevada, consisting of 36 unpatented mining claims.
Barrick may earn a 60% interest by incurring total exploration expenditures of at least US $3 million in annual installments by December 31, 2014. Barrick may earn an additional 10% (for an aggregate interest of 70%) by incurring an additional US $1.5 million by December 31, 2015. Barrick may earn an additional 5% (for an aggregate interest of 75%) by carrying CRI and Levon through to commercial production.
Alternatively, at the time of earning either its 60% or 70% interest, Barrick may be given the option to buy-out CRI's and Levon's joint interest by paying US $6 million and granting them a 2% net smelter returns royalty.
The company's address is Suite 400, 455 Granville Street, Vancouver, BC V6C 1T1, 604.682.3701, fax: 604.682.3600.