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Ardeen Gold Project – Summary

The Ardeen Gold Project has very good potential for the delineation of shallow, very-high grade gold resources from a number of known prospects. Excellent potential exists to expand the prospect pipeline in order to defined further mineralisation. Such shallow, high-grade gold resources which would complement any further development at the low-grade Moss Lake Gold Deposit (56.1Mt at 0.92 g/t gold for 1.5 Moz of gold), which is located only 4.5 km to the east of the project.

The Ardeen Gold Deposit comprises the following summary points:

Located about 110 kilometres west of the city of Thunder Bay, situated on the western edge of Lake Superior in northwestern Ontario, Canada.
Comprises 153 unpatented mining claims and four patented mining claims for a total area of almost 5,000 hectares (50 km²).
Situated about 15 kilometres south of Highway 11 which forms part of the Trans-Canada Highway system (with high-voltage power), with gravel all-season logging road access to the project.
Coventry has the right to earn a 100% interest in the Ardeen Gold project from Pele Gold Corporation. The Company has recently achieved 51% ownership by spending more than CAD$1.5 million and can earn 75% by the additional expenditure of CAD$1.5 million prior to December 2013. Pele has the right to contribute to further expenditure on a pro-rata basis, or Coventry completes a bankable feasibility study to earn 100%, with Pele reverting to a 2% NSR royalty.
Gold was first discovered at the Ardeen Gold Project in 1870, and became northern Ontario’s first gold mine in 1872.
Commercial scale production during the period 1932-1936, when 29,629 ounces of gold and 170,463 ounces of silver were recovered from 143,724 tonnes of ore.
Contains several known prospects (including the Fisher and McKellar Prospects) that have shallow, high-grade gold mineralisation outlined by exploration by previous explorers and Coventry.
Very large gold-in-till anomalies delineated over a strike of more than 1,300 metres and up to 682 ppb gold associated with the large-scale Boundary Fault Zone, and over a strike of more than 1,200 metres in the vicinity of the historic Ardeen Mine, recording a peak assay of 515 ppb Au.