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Coventry Obtains Final Order for Plan of Arrangement

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/24/14 -- Coventry Resources Inc. (ASX: CYY)(TSX VENTURE: CYY) announces that the final order for the plan of arrangement under section 288 of the Business Corporations Act (British Columbia) between Coventry, Chalice Gold Mines Limited, Western Rift Pty Ltd. and the shareholders of Coventry was obtained from the Supreme Court of British Columbia on January 24, 2014. A timetable for completion of the transaction is included in Annexure A.

THE BOARD OF DIRECTORS OF COVENTRY RESOURCES INC.

STEVEN CHADWICK

President and Chief Executive Officer

Coventry Resources Inc.

Neither 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. This press release may contain forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Corporation's ongoing quarterly and annual reporting. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Annexure A - Timetable

---------------------------------------------------------------------------
Activity                                                               Date
---------------------------------------------------------------------------
Announcement of results of Coventry's shareholder
 meeting to approve the Arrangement.                        22 January 2014
---------------------------------------------------------------------------
Final court order obtained from the Supreme Court of
 British Columbia for approval of the Arrangement.          24 January 2014
---------------------------------------------------------------------------
TSX-V issues bulletin announcing the effective
 date/distribution record date and payment date.            29 January 2014
---------------------------------------------------------------------------
Coventry CDI's commence trading ex-distribution on ASX.     29 January 2014
---------------------------------------------------------------------------
Coventry shares commence trading ex-distribution on
 TSX-V.                                                     31 January 2014
---------------------------------------------------------------------------
Effective Date/Distribution Record Date                     4 February 2014
---------------------------------------------------------------------------
Payment Date of Chalice Shares to Coventry shareholders     7 February 2014
---------------------------------------------------------------------------

Contacts:
Coventry Resources Inc.
Steven Chadwick
President and CEO
+61 8 9324 1266

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