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    Winnipeg, Manitoba
    R3Y 1Y1

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Cameron Lake Claims

Coventry Resources Inc. (TSX.V: CYY and ASX: CYY) is providing updates from time-to-time on the progress being made at their Cameron Lake Project that includes the Meston and Sullivan prospects. News releases and project updates can be found on their website at www.coventryres.com

 

HIGHLIGHTS

• Ownership 20% King’s Bay Gold Corporation (TSX.V:KBG) and 80% Coventry Resources Inc. (TSX.V: CYY)
• Positive initial drilling results from 2011 at both the Meston Prospect (35 diamond core drill holes for 3,935 metres) & Sullivan Prospect (21 diamond core drill holes for 2,626 meters)
• Numerous untested structures within a favorable hinge type geological setting
• Road accessible and close to current power infrastructure,
• Potential for both prospects to become economic satellite deposit to supplement Coventry Resources Inc.’s nearby 1.4 million Au ounce Cameron Lake Deposit (Positive PEA in January 2013)

 

Information

King's Bay Gold Property Location

Location

The Cameron Lake Property is located in the Rowan Lake Area of the Kenora Mining Division of north-western Ontario. It is adjacent to the former Nuinsco Cameron Lake deposit now optioned and operated by a subsidiary of Coventry Resources Limited, an Australian company (ASX: CVY). The property is located approximately 29 kilometres east off of Highway 71 that runs between Kenora and Nestor Falls, Ontario along the Cameron Lake access road (roughly 40 kilometres north of Nestor Falls, ON).
King's Bay Gold Number of Claims

Number of Claims & Acres / Hectares

20 leased claim units for approximately 324 hectares. The property has been leased from the Ontario Ministry of Northern Development & Mines and is identified as #104050-CLM289. It requires an annual Lease payment of approximately $951 to the Ontario MND&M and a surface Tax payment of approximately $550 to the Ontario Ministry of Revenue in Thunder Bay, ON to keep the property in good standing.
King's Bay Gold Exploration Targets

Exploration Target

Gold
King's Bay Gold Date of Acquisition

Date of Acquisition via Option Agreement and / or Staking

The original Option Agreement was signed with Lasir Gold Inc. on March 3rd, 2010 (see the news release of that date as filed on www.sedar.com ) and was subsequently sub-optioned to Cameron Lake JEX Corporation, a subsidiary of Coventry Resources Limited (ASX: CVY), on September 13th, 2010 (see the news release of September 8th, 2010 as filed on www.sedar.com ) whereby Coventry has taken over the property payments, work commitments and has indicated they would be spending in excess of $350,000 per year on exploration on the property utilizing I.P. geophysics and diamond drilling.
King's Bay Gold Ownership Interests

Ownership Interests

20% carried interest in the property to King’s Bay Gold Corporation if the option is taken through to the 5 year option with Cameron Lake JEX Corporation, a subsidiary of Coventry Resources Limited. Otherwise, the deal reverts back to the original option agreement between Lasir Gold Inc. and King’s Bay Gold with King’s Bay Gold earning a 100% interest in the property, subject to a 2% Net Smelter Royalty (NSR) to the original vendors. This can be purchased back at $1,000,000 per 1% of Royalty. Coventry Resources Limited are now the operators for the exploration and development of this leased ground up until a production decision is made on any resources found on the property at which point they may elect to participate in a joint-venture at their respective 80 / 20 ownership rate or negotiate a buyout for King’s Bay Gold Corporation’s 20 % carried interest.

King's Bay Gold Operator

Operator

Coventry Resources Limited
King's Bay Gold Qualified Person

Qualified Person as per National Instrument 43-101 as at June 12th, 2012 (subject to change)

Anthony Brendon Goddard is identified as the Competent Person for the Competent Person’s Statements as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” and as the Qualified Person as defined by Canadian National Instrument 43-101 (Standards for Disclosure for Mineral Projects). Mr. Goddard is Technical Director of Coventry Resources Limited (ASX: CVY) and a Member of the Australian Institute of Geoscientists.
King's Bay Gold Information

Information

Regional geology for the Cameron Lake Property is characterized by typical Archean Greenstone volcanics inter-layered with intrusive gabbros at the confluence of the Cameron Lake and Pipestone Lake Faults. A number of historic occurrences such as the Sullivan and Meston gold occurrences are found within the property boundary which is adjacent to the original Cameron Lake Deposit of Nuinsco’s on the north side of Cameron Lake (it has been stated that there is over 2.567,000 tons grading 5.42 g/t in gold in all categories-indicated, possible and proven reserves as a non-compliant National Instrument 43-101 resource). Several other known gold zones exist north-eastward up Sullivan Bay on Rowan Lake – the best known of these is the Monte Cristo Occurrence on the south shore of Sullivan Bay which was being explored and drilled from the ice during the winter of 2010.

Work Update for 2010
Coventry Resources Limited carried out cutting of grid lines at 100 m. centres across the whole Property then followed up with an I.P. Survey over the same grid. In late October 2010, diamond drilling was started, one to cross-cut the Meston Occurrence area and the other further east to intersect the Sullivan Occurrence extension; their intention was to carry the drilling eastward out over Sullivan Bay on Rowan Lake once the ice was set in during the winter of 2010.

Work for 2011

The Meston Prospect is located approximately five kilometres east of the Cameron Gold Deposit and comprises a zone of gold mineralisation and alteration mapped discontinuously over a strike length of 350 metres. Results returned from first-pass drilling (35 diamond core drill holes for 3,935 metres) at the Meston Prospect, located immediately along strike from the Sullivan Prospect, as announced in a Coventry news release of July 6th, 2011, include:

 

True widths are not known.

 

10.0 metres at 1.13 g/t gold from 9.0 metres                 (9.0 to 19.0 metres)

8.7 metres at 2.19 g/t gold from 5.3 metres                    (5.3 to 14.0 metres)

8.0 metres at 1.02 g/t gold from 16.0 metres                 (16.0 to 24.0 metres)

4.0 metres at 5.16 g/t gold from 5.0 metres                    (5.0 to 9.0 metres)

2.0 metres at 4.67 g/t gold from 3.0 metres                    (3.0 to 5.0 metres)

2.0 metres at 3.05 g/t gold from 5.0 metres                    (5.0 to 7.0 metres)

 

The Sullivan Prospect is located approximately five kilometres east of the Cameron Gold Deposit and 1,000 metres along strike from the Meston Prospect. It comprises a series of historic workings (two shafts and an adit) in a geologically-complex area. Discontinuous outcrops of mineralisation and alteration have been mapped over a strike of 80 metres within glacial till cover. Results returned from first-pass drilling (21 diamond core drill holes for 2,626 meters) at the Sullivan Prospect as announced in a Coventry news release of July 6th, 2011, include:

 

True widths are not known.

 

5.0 metres at 1.44 g/t gold from 73.0 metres          (73.0 to 78.0 metres)

3.0 metres at 4.32 g/t gold from 19.0 metres          (19.0 to 22.0 metres)

2.0 metres at 5.25 g/t gold from 62.0 metres          (62.0 to 64.0 metres)

 

These results confirm the potential to develop satellite deposits at both the Sullivan and Meston Prospects in order to provide additional feed to a planned centralised processing facility at Coventry’s nearby 1.4 M oz Cameron Gold Deposit. The results also confirm the high prospectivity of the “Greater Meston Area”, with numerous other prospects in close proximity to the Meston and Sullivan Prospects that have yet to be drilled.

Work Contemplated in 2012

At the present time, Coventry is focusing its drilling efforts to the north and northwest of their 1.4 M oz Cameron Gold Deposit. This drilling activity is an area that does not include the Meston and Sullivan Prospects, which are both located to the southeast of the main Cameron Gold Deposit. Coventry’s most recent Quarterly Activities Report for the period ending December 31st, 2011 and dated January 31st, 2012 highlighted the following points, which are encouraging for the overall project, but that may or may not be applicable to or include the Meston and Sullivan Prospects:

- “With a sizeable, robust, shallow resource delineated, at a grade that is readily amenable to open pit mining, the Company has considerable confidence that an economically viable open pit mining operation can be developed at the Cameron Gold Deposit.”

- “As such it has commenced a pre-feasibility study into the development of the Deposit. The Company anticipates completing this study during the second quarter of 2012.”

- “In addition there are more than 20 other known, underexplored gold occurrences and prospects within the 12,800 hectare Cameron Gold Project area. Many of these are high-priority targets for further exploration that provide considerable potential for expanding the Project’s resource base.”

Documents

Location Map


View Cameron Lake in a larger map

Photo Gallery

© 2011 King's Bay Gold