Liard Resources Ltd.

February 25, 2010 13:28 ET

Liard Resources Ltd.: Public Record Correction, Arrangement Update

CALGARY, ALBERTA--(Marketwire - Feb. 25, 2010) - Jan Alston, President of Liard Resources Ltd. (the "Company" or "Liard")) announces that the Company wishes to correct and update certain aspects of its public disclosure contained in its amended information circular ("Circular")and amended and restated technical report, ("Report") both filed on Sedar on April 17, 2009 in connection with the plan of arrangement ("Arrangement") approved by shareholders on April 23, 2009.

The following incorrect and therefore misleading statements about hole DDH-005B were contained in the Circular and the Report:

1. Hole DDH-005B had been successfully wedged off hole DDH-005A and was then, at the effective date of the Report, at a depth of 7,227 feet.

2. The total target depth of drill hole DDH-005B is 9,500 ft. with the purpose of investigating further the extent of the down dip mineralization in which hole DDH-005A was terminated at a target depth of 8,784 ft.

3. Disseminated and stockwork type mineralization has been encountered from 3,960 ft. to the current depth reported above.

4. Azteca Gold Corp. anticipates that DDH-005B will intersect similar mineralization to that encountered in DDH-005A but stresses that the same mineralization is not necessarily guaranteed.

The effective date of the Report was April 14, 2009, and on that date, according to core logs, the total depth of the hole was 8,744 feet. The Report was finalized on April 14, 2009 using information made available to the author earlier and she did not have access to the latest core logs. Information that no significant deposit of mineralization was encountered down to that depth was also not available to her at the date she finalized the Report. As of the date of the Circular and Report, Azteca had no geologic support for a structural or mineralogical tie between massive sulphide mineralization in DDH-005A and potential for sulphide mineralization in DDH 005B.

The statement contained in paragraph 3 above should have referred to such mineralization being identified visually. Subsequent assays results show that no significant anomalies of the target metals were encountered.

In some of the Company's public disclosure, references were made to press releases made by Azteca Gold Corp, the operator of the Two Mile Joint Venture. Subsequently, Azteca issued two press releases dated July 3, 2009 and September 14, 2009 clarifying some of their prior disclosure. Copies of those press releases are attached.

To view the July 3, 2009 press release, please visit the following link:

To view the September 14, 2009 press release, please visit the following link:

The Company also announced today that it is a party to a series of amendments to the Two Mile Joint Venture Agreement (the "JV Agreement"). Under the terms of the latest amendment, Silver Royal Apex Inc., whose interest in the JV Agreement Liard is acquiring pursuant to the Arrangement, has been granted an extension to March 31, 2010 to pay to Azteca Gold Corp. ("Azteca"), the operator of the JV Agreement, its 50% share of the outstanding drilling and exploration costs incurred on the Two Mile Joint Venture project, which the Company estimates will be $3,800,000. In return, Liard granted to Azteca the option until February 28, 2009 to convert all or part of its debt into Liard securities, at the price equal to the lesser of $0.25 and a 20% discount from the issue price of the equity placement to be closed by the Company prior to March 31, 2010. Liard also granted to Azteca the right to subscribe in any private placement undertaken by Liard over the next 12 months up to a maximum of 15% of the issued and outstanding shares of Liard on a fully diluted basis.

Exploration on the Two Mile project is continuing, with the current focus being on assaying and interpreting results from the recent drilling and geophysical programs.

Liard was an investment holding company with shareholdings in public junior oil and gas exploration and production companies. Substantially all of these investments were sold in 2006 and the net proceeds were distributed to the Company's shareholders as dividends. In 2007 and 2008 the Company was inactive. The successful completion of the restructuring process with Silver Royal Apex, Inc. will re-activate the Company as a junior mining exploration company. The name of the Company, pending the effective date of the Arrangement, will be changed to Royal Apex Ventures, Inc. The primary conditions to the Arrangement that remain to be met are receipt of conditional approval from the TSX Venture Exchange, and completion of an additional private placement.

The contents of this press release have been reviewed by Dick Nanna, the Qualified Person under NI 43-101 for Azteca Gold Corp., to ensure that the technical data contained herein is consistent with both the two press releases attached hereto dated July 3, 2009 and September 14, 2009 issued by Azteca, the contents of which were reviewed and approved by Mr. Nanna, and other technical information provided to Liard by Azteca.

WARNING: the Company relies upon litigation protection for "forward looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary material include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

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