Coventry Resources Completes Purchase of the West Cedartree Gol

 
FSC / Press Release 
Coventry Resources Completes Purchase of the West Cedartree Gold Project 
Vancouver, British Columbia CANADA, January 15, 2013 /FSC/ - Coventry Resources
Inc. (TSX-V:CYY, ASX:CYY)is pleased to report it has completed the acquisition
of 100% of the West Cedartree Gold Project ("Project"), located 10km from the
Company's Cameron Gold Deposit, from Houston Lake Mining Inc. ("Houston Lake"). 
Commenting on the acquisition, Michael Naylor, President and CEO stated, "The
acquisition of the West Cedartree Gold Project further consolidates the
Company's interest in the mineral resources surrounding the Cameron Gold
Deposit, thereby concentrating ownership into a regional gold camp.  We are
confident that this acquisition will have a positive impact on the economics of
developing a mining operation at the Cameron Gold Camp Project. There is
considerable potential to delineate additional high grade resources with further
exploration at the Project where historical high grade intercepts have been
recorded at numerous prospects where compliant resources are yet to be
determined. We intend implementing an aggressive exploration program at the
highest priority prospects in the near term." 
WEST CEDARTREE GOLD PROJECT 
The West Cedartree Gold Project incorporates 16.5km2 of mineral rights that can
be easily accessed via the all-weather road that was constructed to access the
Company's Cameron Gold Deposit. 
Figure 1 - Location of the West Cedartree Gold Project in relation to the
Cameron Gold Deposit 
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Dubenski Gold Deposit 
The Dubenski Gold Deposit is the most advanced of the prospects within the West
Cedartree Project. Mineralisation at Dubenski is hosted by a sub-vertical shear
zone over a strike length of 400m that is up to 20m wide and has been delineated
to a vertical depth of more than 150m. The mineralisation consists of
fine-grained pyrite and free gold associated with carbonate, sericite, silica,
and local fuchsite alteration within strongly-deformed mafic volcanic rocks. The
mineralisation is open in all directions.  Table 1 summarises the current
mineral resource estimate. 
Table 1 - NI 43-101 and JORC-Code Compliant Mineral Resource, Dubenski Gold
Deposit* 
-****-
--------------------------------------------------------
Cut-off   Resource               Tonnes    Gold     Gold 
Classification                    g/t      Oz
--------------------------------------------------------
1.0 g/t  Indicated               806,000   2.28   59,000 
Inferred                392,000   1.44   18,200
-------------------------------------------------------- 
-****- 
*Mineral resources are not mineral reserves and do not have demonstrated
economic viability. All figures are rounded to reflect the relative accuracy of
the estimate. 
Figure 2 - Dubenski Gold Deposit Cross Section 
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On the basis of current information it is considered likely that an open pit
mine can be developed at Dubenski.  As such these resources have been
incorporated into the Preliminary Economic Assessment of the development of the
Cameron Gold Camp Project that was announced on January 14 2013. 
Dogpaw Gold Prospect 
The Dogpaw Prospect comprises a mineralised zone that extends over a strike
length of 310m and to a vertical depth of 210m. The Dogpaw Prospect is one of
six vein sets that have been identified within the West Cedartree Gold Project
by previous explorers. Gold mineralisation occurs mainly in gabbro at the
contact with mafic volcanic rocks, where porphyry intrusions are apparently
localised by a series of northwest-trending faults. 
In 1995, a 500 ton bulk sample was extracted from the Dogpaw Prospect and
processed at a third party smelter. The average grade of this sample was 6.53
g/t gold. 
Houston Lake completed a 17 hole (2,561m) drilling program in 2007. Intercepts
included: 
* 6.0m @ 47.97 g/t gold from 48.2m
* 2.6m @ 46.54 g/t gold from 51.7m
* 4.6m @ 10.51 g/t gold from 49.9m 
No further work has been undertaken subsequently. 
The Company has commenced a Mineral Resource Estimate for the Dogpaw Prospect,
which is due for completion by the end of the first quarter of 2013.  It is
anticipated that diamond drilling to assess potential extensions of the
mineralisation will also commence in the March quarter of 2013. 
McLennan Gold Prospect 
Located at the sheared contact between mafic volcanic rocks and gabbro, the
mineralised zone at the McLennan Prospect has been traced over a strike length
of more than 450m. A recent drill program of 15 holes (3,000m) by Houston Lake
in 2011 returned significant intercepts including: 
* 5.8m @ 5.80 g/t gold from 24.0m 
* 9.0m @ 4.04 g/t gold from 26.0m 
* 16.5m @ 1.67 g/t gold from 44.0m 
The mineralisation remains open in all directions and a diamond drilling program
is expected to commence in the March quarter of 2013 to further evaluate this
prospect. 
Figure 3 - Plan of Historical Trenching and Drill Results from the McLennan Gold
Prospect 
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http://www.usetdas.com/pr/coventryfig3jan152013.jpg 
Robertson Gold Prospect 
The Robertson Prospect comprises a northeast-southwest trending mineralised
shear zone that has been delineated over a strike length of 200m and to a
vertical depth of 120m. 
Drilling in 2010 and 2011 by Houston Lake recorded best intercepts of: 
* 16.7m @ 2.00 g/t gold from 19.8m 
* 20.5m @ 2.17 g/t from 62.0m 
* 9.0m @ 4.04 g/t gold from 26.0m 
* 16.5m @ 1.67 g/t gold from 44.0m 
The mineralisation remains open along strike to the north-west and at depth.
Importantly, the highest grades returned from previous work have been from the
deepest drillholes completed at the Robertson Prospect. A follow-up diamond
drilling program, aiming to extend the known mineralisation, is expected to
commence in the March quarter of 2013. 
Figure 4 - Surface plan of the Robertson Prospect showing significant drilling
intercepts. 
To view this image as a webpage please click on the following link:
http://www.usetdas.com/pr/coventryfig4jan152013.jpg 
Angel Hill Gold Prospect 
The Angel Hill Prospect is located 2.8km to the west of the Dubenski Gold
Deposit (Figure 1). The mineralisation at Angel Hill is contained within a shear
zone at the contact of differential units within a gabbro sill. It comprises
silica, carbonate and sericite alteration that ranges from 1-11m wide over a
strike of 130m and to a vertical depth of 75m. Visible gold is common in
discontinuous quartz veins. The mineralisation is also associated with pyrite,
chalcopyrite, galena and molybdenite. Mineralisation remains open along strike
to the south and at depth. 
Table 2 summarises the current mineral resource estimate. 
Table 2 - NI 43-101 and JORC-Code Compliant Mineral Resource, Angel Hill Gold
Deposit* 
-***-
-------------------------------------------------------------------------
Cut-off Grade    Resource         Tonnes    Gold Grade      Gold
  (g/t Au)       Classification             (g/t Au)       Ounces
------------------------------------------------------------------------- 
1.00      Inferred           164,000     1.62           8,500
------------------------------------------------------------------------- 
Total Inferred      64,000     1.62           8,500
------------------------------------------------------------------------ 
-****- 
*Mineral resources are not mineral reserves and do not have demonstrated
economic viability. All figures are rounded to reflect the relative accuracy of
the estimate. 
In May 2006, Houston Lake extracted a 1,041 tonne bulk sample that yielded a
total of 190 ounces of gold at an average grade of 5.67 g/t gold following
processing at a third party mill. 
CONSIDERATION 
The Company paid Houston Lake $100,000 on the execution of a binding Letter of
Intent in June 2012. It recently completed the acquisition by paying Houston
Lake a further $400,000 and issuing it 1.935 million common shares in the
Company. 
The Company believes there is considerable potential to delineate additional
high grade resources with further exploration at the West Cedartree Gold
Project. Additional resources could have a significant impact on the economics
of developing a mining operation at the Cameron Gold Camp Project. Plans are in
place to implement an aggressive exploration program at the highest priority
prospects within the Project in the near term. 
For further information about Coventry Resources Inc., please contact: 
Michael Naylor
President and CEO 1 (416) 364 3700
mnaylor@coventryres.com 
Don Halliday Vice President, Investor Relations 1 (604) 899-1505
dhalliday@coventryres.com 
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. 
Qualified Persons 
Tony Goddard, MAIG, VP Exploration for Coventry Resources Inc. is the Qualified
Person as defined by National Instrument 43-101 and supervised the preparation
of the technical information in this release. 
The information in this announcement that relates to Exploration Results and
Mineral Resources is based on information compiled by or under the supervision
of Anthony Brendon Goddard. Mr Goddard is Technical Director of Coventry
Resources Limited and a Member of the Australian Institute of Geoscientists. Mr
Goddard has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and the activity he is
undertaking to qualify as a Competent Person as defined in the 2004 Edition of
the "Australasian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves". Mr Goddard consents to the inclusion in the announcement of
the matters based on his information in the form and context in which it
appears. 
The information in this announcement that relates to Mineral Resources or Ore
Reserves is based on information compiled by Mr Peter Ball who is a Chartered
Professional and Member of the Australasian Institute of Mining and Metallurgy.
Mr Ball is the Director of DataGeo Geological Consultants. Mr Ball has
sufficient experience which is relevant to the style of mineralisation and type
of deposit under consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined in the 2004 Edition of the
'Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves. Mr Ball consents to the inclusion in the announcement of the
matters based on his information in the form and context in which it appears. 
Forward-Looking Statements 
This news release may contain "forward-looking statements" and/or
"forward-looking information" within the meaning of applicable securities
regulations in Canada and the United States (collectively, forward-looking
information"). Any forward-looking information contained in this news release is
made as of the date of this news release. Except as required under applicable
securities legislation, Coventry Resources Inc. ("Coventry") does not intend,
and does not assume any obligation, to update this forward-looking information.
Forward-looking information includes, but is not limited to, statements with
respect to mineral resource estimates, drill plans, planned work programs,
future upgrading of mineral resources and expected outcomes. Often, but not
always, forward-looking information can be identified by the use of words such
as "plans", "expects, "is expected", "budget", "scheduled", "estimates",
forecasts", "intends", "anticipates", or "believes", or the negatives thereof or
variations of such words and phrases or statements that certain actions, events
or results "may", "could", "would", "might", or "will" be taken, occur or be
achieved. 
Any forward-looking information contained in this news release is based on
certain assumptions that Coventry believes are reasonable, including, with
respect to any mineral resource estimates, the key assumptions and parameters on
which such estimates are based, that the current price of and demand for gold
will be sustained or will improve, that general business and economic conditions
will not change in a material adverse manner, that financing will be available
if and when needed on reasonable terms, that supplies, equipment, personnel,
permits and local community approval required to conduct Coventry's planned
exploration and development activities will be available on reasonable terms and
that Coventry will not experience any material accident, labour dispute, or
failure of equipment. 
However, forward-looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results, performance
or achievements of Coventry to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
information. Such factors include, among others, risks and uncertainties
relating to the actual results of exploration activities being different than
anticipated, cost of labour increasing more than expected, cost of equipment or
materials increasing more than expected, fluctuations in the price of gold and
other commodities, currency fluctuations, mineral resources not being as
estimated, unexpected variations in mineral resources, grade or recovery rates,
risk of accidents, labour disputes and other risks generally associated with
mineral exploration and unanticipated delays in obtaining or failing to obtain
governmental or community approvals or financing. Although Coventry has
attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking
information, there may be other factors that cause actions, events or results to
not be as anticipated, estimated or intended. There can be no assurance that
forward-looking information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Readers are cautioned not to place undue reliance on forward-looking information
due to the inherent uncertainty thereof. 
To view this press release as a webpage please click on the following link:
http://www.usetdas.com/pr/conventryjan152013.htm 
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