Liard Resources Ltd.

June 26, 2009 16:05 ET

Liard Resources Ltd.: Cease Trade Orders Revoked, Arrangement Update

CALGARY, ALBERTA--(Marketwire - June 26, 2009) - Jan Alston, President of Liard Resources Ltd. (the "Company") announces that the Company has been successful in its applications to the Alberta, Ontario and British Columbia Securities Commissions (collectively, the "Commissions") for revocation orders in respect of cease trade orders issued on June 2, 3, and 10, 2004, respectively, by the Commissions. The revocation of the cease trade orders is part of the Corporation's restructuring of its corporate and financial affairs.

In connection with the Arrangement, as defined below, the Corporation has closed the first step in its restructuring. The $250,000 private placement to fund transaction costs and pay a finder's fee in respect to the Silver Royal Apex plan of arrangement (the "Arrangement") has been completed. The Corporation issued 5,000,000 units at $0.05 per unit. Each unit consists of one share and one warrant entitling the shareholder to purchase one common share for $0.25 for a period of 2 years from closing. The terms of this private placement were negotiated at arm's length prior to any drilling results on the Two Mile project and in conjunction with the acquisition agreement with Silver Royal Apex Inc. ("Silver Royal") announced on December 5, 2008. Insiders of the Company and Silver Royal participated in respect of the majority of this placement. Shares issued pursuant to this placement are subject to trading restrictions until September 29, 2009.

Liard also announced today that it is a party to an amendment effective May 19, 2009 to the Two Mile Joint Venture Agreement (the "JV Agreement"). Under the terms of the amendment, Silver Royal Apex Inc., whose interest in the JV Agreement Liard is acquiring pursuant to the Arrangement has been granted an extension to September 19, 2009 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 $2,700,000. In return, Liard granted to Azteca the option until September 1, 2009 to convert its debt into Liard securities, at the rate of $0.60 per unit, with each unit consisting of one common share and one half of a warrant, with each whole warrant entitling the holder to purchase an additional common share for $1.00 for a period of 2 years from closing. Liard also granted to Azteca the right to subscribe in any private placement undertaken by Liard over the next 18 months up to a maximum of 10% of the issued and outstanding shares of Liard.

Exploration on the Two Mile project is continuing. The operator, Azteca Gold Corp., recently announced encouraging results in press releases dated May 12, 2009, May 14, 2009, May 27, 2009, June 10, 2009 and June 18, 2009, which can be found on or the Azteca website at

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, approved by shareholders on April 23, 2009, will be changed to Royal Apex Ventures, Inc. At the same meeting a new board of directors was elected consisting of Jan Alston, Bruce Murray, Justin Rice, Gary Rice, Mark Russell and Brandon Rice. 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.

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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