Coventry Resources Limited (ASX:CVY) Report Further Positive Results From Drilling Immediately Along Strike From the +1moz Cameron Gold Deposit

Perth, Sep 30, 2011 AEST (ABN Newswire) - Coventry Resources Limited (ASX:CVY) is pleased to advise that it has received analytical results for a further 25 diamond core holes (4,338 metres) drilled recently to evaluate the Northern and Northwestern extensions of the +1Moz Cameron Gold Deposit in Ontario, Canada.

Very encouraging results continue to be returned from these areas, with significant mineralisation intersected in 20 of the 25 drill holes. Recent results include:

- 6.2 metres at 5.42 g/t gold from 240.9 metres
- 3.4 metres at 5.03 g/t gold from 117.0 metres
- 6.0 metres at 2.57 g/t gold from 104.0 metres
- 6.8 metres at 2.06 g/t gold from 28.0 metres
- 4.6 metres at 2.83 g/t gold from 199.5 metres
- 2.8 metres at 4.13 g/t gold from 75.3 metres

These results provide further confirmation that several parallel, plunging, higher grade "shoots" of mineralisation are present immediately north of the main high grade mineralised zone at the Cameron Gold Deposit.

Recent drilling has generally only targeted the shallow portions of these additional "shoots" - at depths where mineralisation is anticipated to be amenable to open pit mining. Mineralisation remains open at depth and as such considerable potential remains to delineate extensions of these shoots with further drilling.

The Company is very encouraged by the results received in hole CCD-11-171 (6.2 metres and 5.42 g/t gold from 240.9 metres) where mineralisation has been intersected down plunge from the main Cameron zone in an area untested by previous drilling. The mineralisation here remains open along strike to the northwest and at depth and will be a priority target for further exploration in the near term.

Resource Upgrade and Pre-Feasibility Study

The Company recently completed a 299 hole, diamond core drilling program for 44,135 metres at the Cameron Gold Project.

Results are pending for 35 drill holes (6,049 metres). On receipt of these results the Company will integrate all of the new drilling data with the historic 84,541 metres of drilling data (from a further 757 drill holes) to upgrade the JORC Code compliant resource estimate for the Project. Utilising a 1.5 g/t lower cut-off grade this indicated and inferred resource currently comprises:

- 11.3Mt at 2.77 g/t gold for 1.0 Moz of gold.

It is anticipated that the resource estimate recalculation will be completed during the fourth quarter of 2011. A follow up drilling program will then be implemented.

The upgraded resource will be utilised to develop a new mine design as part of a pre-feasibility study into the development of an initial open pit mining operation at the Cameron Gold Project. The Company anticipates completing this study during the second quarter of 2012 and that this will lead immediately to the commissioning of a definitive feasibility study to take the Project to production. Throughout this process mine permitting activities will continue.

For the complete Coventry Resources Limited announcement including figures and tables, please view the following link:
http://media.abnnewswire.net/media/en/docs/ASX-CVY-559328.pdf

Contact

Mike Haynes Executive Chairman E-mail: info@coventryres.com Tel: +61-8-9324-1266 http://www.coventryres.com