POLARX LIMITED — Capital/Financing Update 2012

Dec 19, 2012

1490 – 1075 West Georgia Street Vancouver, BC V6E 3C9 Canada

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Tel: 604 688 9478 Fax: 604 688 9458

20 December 2012 ASX Limited Level 8 2 The Esplanade PERTH WA 6000

**PROPOSED

USE OF FUNDS**

Funds held by Crescent Resources Corp ( Company ), to be renamed Coventry Resources Corp, are intended to be used as follows as at the date of this announcement. As with all proposed budgets, the allocation of funds is subject to change based on continued exploration results and development of the Company’s Canadian assets:

Funds available	2013	2014
Extension drilling	$600,000	Nil
Mineral Definition	$189,996	$189,996
Exploration Drilling	Nil	$850,000
Assays	$50,000	$350,000
Environmental costs	Nil	$150,000
General Administration	$229,500	$223,500
Total	$1,069,496	$1,763,496