POLARX LIMITED — AGM Information 2016

Apr 14, 2016

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CARIBOU DOME COPPER PROJECT ANNUAL GENERAL MEETING 15 APRIL 2016

TABLE OF CONTENTS

Section			Page
1		Caribou Dome Project Summary	3
2		Corporate Structure	4
3		Project Location and Access	5
4		Project History	6
5		All Drilling	7‐8
6		18km of Exploration Potential	9
7		Extensive Copper In Soil Anomalism	10
8		Close Correlation Between IP Anomalies and Mineralisation	11
9		8,000m+ Drilling Program	12
10		Immediate “Untested” Drill Targets	13‐15
11		Immediate “Extensional” Drill Targets	16
12		Planned Further Regional Data Acquisition	17
13		Metallurgy	18
14		Forward Work Program	19
Appendix	1	Project Acquisition Terms	21
Appendix	2	Analogous Deposits	22
			Page 2

1. CARIBOU DOME PROJECT SUMMARY

• Very high-grade copper project in Alaska, USA

• Substantially underexplored – only 140 holes drilled to date (12,662m)

• Mineralisation intersected over the entire 700m of strike drilled to date, including:

• 51.1m* at 5.3% Cu from 4.4m

• 18.1m at 9.3% Cu from 22.7m

• 14.1m at 9.9% Cu from 134.6m

• 18.4m at 6.3% Cu from 31.4m

• 15.4m at 7.0% Cu from 145.2m (U/G hole)

• 10.4m at 7.9% Cu from 14.0m

• 12.8m at 5.8% Cu from 141.1m

• 10.1m at 7.1% Cu from 39.0m

• 9.1m at 7.0% Cu from 28.7m

• Mineralisation open in both directions along strike and at depth

• Exceptional exploration upside:

• >18km of the sedimentary host horizon within the Project area that remains virtually unexplored

• Extensive copper-in-soil anomalism over the entire 7km of strike sampled to date

• Only 1.5km of strike covered with IP, with known mineralisation giving rise to a very strong response and multiple undrilled IP anomalies immediately along strike from known mineralisation

• 8,000m+ drilling program planned to commence in May 2016

• 3 very-high priority undrilled IP targets immediately along strike from known mineralisation to be drilled first

• Additional IP and soil sampling data also to be acquired in Q2 2016

• Exceptional opportunity to continue to rapidly expand the high-grade resource base with further drilling

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2. CORPORATE STRUCTURE

Coventry Securities	Coventry Securities	Number
Shares on issue(ASX:CYY)		274.4M
Options(exercisable A$0.014 – C$0.05)		28.8M
6 month shareprice range		1.8 – 5.0c
Market capitalisation (at $0.03/share)		A$8.2M
Major Shareholders	%
Board andManagement	18.7%
Lowell ResourcesFund	7.1%
Top 20	57.3%

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CYY share price/volume history on the ASX for the past 12 months.

Board of Directors Mark Bojanjac Non-Exec. Chairman Mike Haynes Managing Director/CEO Ian Cunningham Director/CFO/Company Secretary Michael Fowler Non-Exec. Director Robert Boaz Non-Exec. Director

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3. PROJECT LOCATION AND ACCESS

ALASKA, USA

• 80% of GDP from oil/gas/mining

• “Number 6” in the 2015 Fraser Institute Investment Attractiveness Index

• Produced 40M+ oz gold to date

• Hosted one of the world’s richest-grade copper mines at Kennecott (13% Cu)

• 6 currently producing mines

CARIBOU DOME PROJECT

• 250km NE of Anchorage

• Excellent infrastructure:

• Road access the whole way to the Project:

• 20km of purpose built road from the Denali Highway

• Only ~100km east of the AnchorageFairbanks railway line and high-voltage power at Cantwell

• Coventry has doubled the Project area to ~21,280 acres (~86km[2] )

• Valdez Creek Gold Mine – Alaska’s largest alluvial goldfield, is ~10 miles away in the next valley north:

• 459,000 oz Au production 1984 - 1995

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• Cambior was producing at a rate of 75,000oz Au per annum in 1992

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4. PROJECT HISTORY

1963 – Mineralisation first discovered

1964 – First 7 diamond holes drilled

1969 – 425m exploration adit developed on 4,630ft rL 1970 – 520m exploration decline developed from 4,510ft rL 2008 – 225kg bulk sample acquired for metallurgical testwork

95 of 112 historic diamond holes drilled 1964 – 1970		Diamond Drilling	Diamond Drilling	Diamond Drilling	Diamond Drilling
		Surface		Underground
	Date	No. Holes	Metres	No. Holes	Metres
	1964	7	465
	1965	14	857
	1966	17	877
	1967	6	367
	1969	2	196	7	947
	1970			42	2,374
Summary of previous drilling completed at the Caribou Dome Copper Project 1977 3 120 1999 3 744 2009 2 621 2011 9 794 2015 28 4,300 Totals 91 9,340 49 3,321 34% of total diamond drilling completed by Coventry in 2015 Negligible work 1970 – 2014	1977	3	120
	1999	3	744
	2009	2	621
	2011	9	794
	2015	28	4,300
	Totals	91	9,340	49	3,321

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Looking NE from outcropping mineralisation at Lense 6 (foreground) to trenching at Lenses 3, 7, 8 and 9 (background)

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Road access and portals to the historic adit and decline

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5. ALL DRILLING

• 9 lenses of sediment-hosted copper mineralisation outlined in previous surface mapping

• Economic grades and thicknesses of mineralisation have been intersected over the entire 700m of strike drill-tested to date

Results include:

• 51.1m* at 5.3% Cu from 4.4m

• 18.1m at 9.3% Cu from 22.7m

• 14.1m at 9.9% Cu from 134.6m

• 18.4m at 6.3% Cu from 31.4m

• 15.4m at 7.0% Cu (U/G drill hole)

• 10.4m at 7.9% Cu from 14.0m

• 12.8m at 5.8% Cu (U/G drill hole)

• 13.0m at 4.9% Cu (U/G drill hole)

• 10.1m at 7.1% Cu from 39.0m

• 9.1m at 7.0% Cu from 28.7m

• 10.2m at 6.2% Cu from 46.6m

• 12.2m at 5.0% Cu from 27.1m

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Location of the mapped lenses of mineralisation at the Caribou Dome Copper Project, together with surface traces of all diamond drill holes and select analytical results

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5. ALL DRILLING

• Only 140 holes totalling 12,662m drilled to date

• Only 700m of >18km of strike drill-tested to date

• Mineralisation open:

• in both directions along strike; and

• • at depth

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• Majority of previous drilling focused on Lenses 5 and 6

• Grade of mineralisation appears to be increasing to the northeast View from above of 3-dimensional model of mineralised lenses Page 8

6. 18KM OF EXPLORATION POTENTIAL

• >18km of the prospective sedimentary sequence lies within the Project area

• Multiple copper occurrences along this corridor

• Soil sampling now covers 7km of strike

• IP surveying now covers 1.5km of strike

• Sediment-hosted copper deposits can be very large, for example:

• Mt Isa Copper Deposit – 255Mt @ 3.3%Cu

• Potential to discover additional mineralisation over the entire >18km sediment-volcanic contact

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Regional geology of the Caribou Dome Copper Project

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7. EXTENSIVE COPPER-IN-SOIL ANOMALISM

• >600 new soil samples collected in 2015 over 7,000m of strike

• Has revealed that the Caribou Dome Deposit may be part of a much larger system:

• Only 700m of a strong, contiguous 2,000m-long soil anomaly drill-tested to date

• Multiple other soil targets:

• Rock chips up to 16.5% Cu returned from follow-up at the Guardian Target, that also coincides with a strong IP anomaly

• Rock chips up to 9.1% in float samples over the Menel Target, that also coincides with a strong IP anomaly

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• Intend undertaking further IP surveying over recently identified soil anomalies during Q2 2016 in advance of drilling soil anomalies

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8. CLOSE CORRELATION BETWEEN IP ANOMALIES AND MINERALISATION

• Mineralisation at Lenses 1, 2, 4, 5, 6 and the new discovery at Lense 7/8 (14.1m @ 9.9% Cu) all coincides with strong IP anomalies

• Multiple other similar undrilled IP anomalies are evident

• Grade of the mineralisation in drilling increasing to the northeast

• Strong soil anomaly also extends >1,300m northeast of the drilled zone

• 3 very-high priority IP targets immediately NE of current drilling scheduled to be drilled for the first time in Q2 2016:

• Menel Target

• Guardian Target

• Lense 9 Target

• Only 1.5km of the 18km of prospective strike has been surveyed with IP

• Additional IP data scheduled to be acquired in Q2 2016 – including immediately along strike to the NE

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Depth Inverted 2015 IP Chargeability Data Page 11

9. 8,000M+ DRILLING PROGRAM

• 8,000m+ drilling program scheduled to commence in May 2016

• Primarily to commence evaluation of, for the first time, new “untested” targets immediately along strike from previous drilling

• Will also include some “extensional” drilling adjacent to previous drilling, where success would have a very positive impact on project economics

• Will utilise 2-3 diamond core drill rigs

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Diamond core drilling at the Lense 7/8 Target during 2015

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10. IMMEDIATE “UNTESTED” DRILL TARGETS

• 3 very-high priority undrilled IP targets immediately along strike to the northeast of the high-grade mineralisation intersected in drilling at Lense 7/8

• Coincident strong IP and copper-in-soil anomalies:

• Menel Target

• Guardian Target

• Lense 9 Target

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Depth Inverted 2015 IP Chargeability Data Copper in soil anomalism over the same area as the depth inverted 2015 IP
chargeability data Page 13
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10. IMMEDIATE “UNTESTED” DRILL TARGETS

• Considerable similarities between the Lense 7/8 IP anomaly and the as yet undrilled Menel, Guardian and Lense 9 IP Targets:

Lense 7/8 IP Target

• First hole ever drilled to test this target, in 2015, intersected 14.1m @ 9.9% Cu

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Menel IP Target

• Very strong anomaly over 125m of strike

• Yet to be drilled

• Up to 9.1% Cu in float samples

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Guardian IP Target

• Very strong anomaly over 250m of strike

• Yet to be drilled

• Up to 16.5% Cu in rock chips

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Lense 9 IP Target

• Strong anomaly over 200m of strike

• Yet to be drilled - Mineralisation outcrops over 100m

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10. IMMEDIATE “UNTESTED” DRILL TARGETS

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11. IMMEDIATE “EXTENSIONAL” DRILL TARGETS

• Preliminary open pit modelling indicates considerable thick, high-grade mineralisation could be recovered from two adjacent pits

• Pit designs constrained because of:

• Lack of drilling between the two pits

• Absence of drilling along strike to the NE

• “Infill” drilling will be targeted between the two pits and immediately along strike to the NE of the high-grade mineralisation at Lense 7/8, where strong soil anomalism extends and where 100m of a MALM anomaly remains to be drill tested

• Strong soil anomaly immediately SW of Lense 2 to be explored further

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Side-on view of 3-dimensional model of mineralised lenses

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Immediate drill target Guardian Menel
SW of Lense 2 Target Target
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Copper in soil anomalism draped on topography. Also highlighted are all previous drill hole collars and possible starter open pits.

Preliminary results from initial open pit studies (yellow = all drill hole traces; red = existing underground development) Page 16

12. PLANNED FURTHER REGIONAL DATA ACQUISITION

• Additional IP and soil sampling data will be acquired during 2016 along strike from current coverage

• Additional drill targets expected to be delineated

• Intend commencing ground geophysics (IP and trial EM) in May 2016

• Will extend coverage both immediately NE and SW of 2015 survey

• Will also resurvey central area with different parameters to resolve deeper drill targets

• Soil sampling to be progressively undertaken throughout the 2016 field season as on-site personnel have availability COPPER-IN-SOILS DATA ALL IP DATA

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- -
Draped on topography Draped on topography
- All drill hole collars shown - All drill hole collars shown
High-priority Caribou Dome High-priority High-priority area Caribou Dome High-priority
area for Copper Deposit area for for further IP Copper Deposit area for further
further soil further soil surveying IP surveying
sampling sampling
Ground
Soil sampling
not warranted geophysics a
valuable tool
because of
in areas with
shallow cover
shallow cover
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13. METALLURGY

• An independent flotation specialist has been undertaking further metallurgical testwork since Dec 2015

• Concentrating on conventional flotation

• Two phases of testwork completed on a composite sample from the Lense 4, 5 and 6 area that graded 5.03% Cu:

• Recoveries >95% Cu have been achieved during rougher flotation tests

• Concentrates grading up to 24.5% Cu have been produced

• Third phase of testwork to be undertaken on samples from the Lense 7/8 area to determine whether the metallurgical properties here are similar

• Results indicating that conventional flotation may be a viable low-CAPEX development alternative

• Additional samples will be acquired during 2016 to continue to optimise recoveries and concentrate grades

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Drill core from CD15-14 (Lense 7/8 Target) – containing >16% Cu

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Flotation testwork on samples from Lenses 4, 5 and 6

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13. FORWARD WORK PROGRAM

		April 2016	May 2016	June 2016	July 2016	August 2016	Sept. 2016	Oct. 2016	Nov. 2016	Dec. 2016
	Metallurgical Testwork
	Additional Ground Geophysics
	Exploration and Infill Drilling (8,000m+)
	Pre‐Feasibility Studies

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DISCLAIMER

This presentation is not a prospectus nor an offer for securities in any jurisdiction nor a securities recommendation. The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions in connection with any acquisition of securities, investor should rely on their own analysis of the Company and consult their own legal and/or financial advisers. The information contained in this presentation has been prepared in good faith by the Company, however no representation or warranty expressed or implied is made as to the accuracy, correctness, completeness or adequacy of any statements, estimates, opinions or other information contained in this presentation. To the maximum extent permitted by law, the Company, its directors, officers, employees and agents disclaim liability for any loss or damage which may be suffered by any person through the use or reliance on anything contained in or omitted from this presentation.

This presentation contains forward looking statements which involve a number of risks and uncertainties. These forward looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. The forward looking statements are made as at the date of this announcement and the Company disclaims any intent or obligation to update publicly such forward looking statements, whether as the result of new information, future events or results or otherwise.

Qualified and Competent Person

The information in this announcement that relates to exploration results for the Project has been approved by Mr Ben Vallerine, who is a consultant to the Company and holds an indirect shareholding in the Company. Mr Vallerine has reviewed the exploration results disclosed in this release, but has not verified the information due to the programs having been undertaken by the previous owners of the Project.

Mr Vallerine is a Member of the Australian Institute of Geoscientists. Mr Vallerine 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 2012 Edition of the Australasian Code for Reporting of Exploration Results (JORC Code). Mr Vallerine is also a Qualified Person as defined by Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr Vallerine consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

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APPENDIX 1 – PROJECT ACQUISITION TERMS

• C-D Development Corp. is the underlying tenement owner:

• Receives 50% of annual cash payments (per table below); and

• Retains a 5% royalty, with Coventry having the right to purchase each 1% for US$1,000,000

• Unlisted US companies SV Metals LP and Hatcher Resources Inc. both retain 10% interests in the Project

• SV Metals receives 50% of annual cash payments (per table below)

• In 2015 Coventry entered into a 9-year option to acquire an 80% interest in the Project

• Coventry’s ongoing obligations comprise:

June	Annual Cash Payments to SV Metals & C-D Development Corp (US$)	Annual Expenditure Obligation (US$)	Minimum Expenditure per 3-year period (US$)
2015	$20k PAID	$100k SATISFIED	$2.0m ~$1.7m SPENT TO DATE
2016	$30k	$100k SATISFIED
2017	$50k	$100k
2018	$100k	nil
			$2.0m
2019	$100k	nil
2020	$100k	nil
2021	$100k	nil	$2.0m
2022	$100k	nil
2023	$1.36m	nil
Total	$1.96m		$9.0m or Complete Feasibility Study1

1 If the Feasibility Study is delivered before expending US$9million, the earn-in condition will be satisfied

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APPENDIX 2 – ANALOGOUS DEPOSITS

Kennecott Copper Deposit, Alaska

• 1911-1938: ~4.63Mt ore mined at 13% copper

• Identical age of mineralisation

• Hosted by same sequence of rocks as those hosting Caribou Dome

• One of the worlds highest grade historic mines and located only ~180 miles from Caribou Dome

White Pine Mine, Michigan

• 198Mt ore mined at 1.14% copper

Mt Isa Copper Deposit, Australia

• Total resources approx. 255Mt @ 3.3% Cu

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Surface infrastructure at the Kennecott Copper Deposit, Alaska

Other sediment-hosted copper deposits

• Deposits of the Zambian Copper Belt in Africa

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MARK BOJANJAC

COVENTRY RESOURCES INC. CHAIRMAN

COVENTRY RESOURCES INC.

SUITE 9, 5 CENTRO AVENUE SUBIACO, WA 6008 PO BOX 457, WEST PERTH WA 6872

T: +61 8 9226 1356

E: MARK@MORELLA.NET.AU W: WWW.COVENTRYRES.COM

MIKE HAYNES COVENTRY RESOURCES INC. MANAGING DIRECTOR & CEO

COVENTRY RESOURCES INC. SUITE 9, 5 CENTRO AVENUE T: +61 8 9226 1356 SUBIACO, WA 6008 E: MHAYNES@COVENTRYRES.COM PO BOX 457, WEST PERTH W: WWW.COVENTRYRES.COM WA 6872

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