POLARX LIMITED — Capital/Financing Update 2014

Feb 10, 2014

Suite 504 – 602 West Hastings Street Vancouver, BC V6B 1P2

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Tel: 604-632-9915 Fax: 604-632-9925

For Immediate Release February 11, 2014 Vancouver, British Columbia TSX Venture Exchange: CYY Australian Securities Exchange: CYY

DISTRIBUTION RATIO FOR CHALICE SHARES

Coventry Resources Inc. (ASX: CYY; TSXV: CYY; “Coventry”) advises that the 46 million Chalice Shares distributed on the 7[th] of February 2014 to Coventry shareholders were distributed on a pro rata basis using a ratio of 0.5054346 Chalice Shares for every single Coventry share held. In accordance with the Plan of Arrangement the number of Shares to be received by each Coventry shareholder was rounded down to the nearest integer.

For further information about Coventry Resources Inc., please contact:

Steven Chadwick President and CEO +61 8 9324 1266 schadwick@coventryres.com

Neither the 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.

Forward Looking Statements

This news release may contain "forward-looking statements" and/or "forward-looking information" within the meaning of applicable securities regulations in Canada and the United States (collectively, forwardlooking information"). Any forward-looking information contained in this news release is made as of the date of this news release. Except as required under applicable securities legislation, Coventry Resources Inc. (“Coventry”) does not intend, and does not assume any obligation, to update this forward-looking information. Forward-looking information includes, but is not limited to, statements with respect to completion of a Feasibility Study, completion of new resource estimates, construction or operation of a mine, mineral resource estimates, drill plans, planned work programs, future upgrading of mineral resources and expected outcomes. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects, "is expected", "budget", "scheduled", "estimates", “forecasts", "intends", "anticipates", or "believes", or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved.

Suite 504 – 602 West Hastings Street Vancouver, BC V6B 1P2

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Tel: 604-632-9915 Fax: 604-632-9925

Any forward-looking information contained in this news release is based on certain assumptions that Coventry believes are reasonable, including, with respect to any mineral resource estimates, the key assumptions and parameters on which such estimates are based, that the current price of and demand for gold will be sustained or will improve, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed on reasonable terms, that supplies, equipment, personnel, permits and local community approval required to conduct Coventry’s planned exploration and development activities will be available on reasonable terms and that Coventry will not experience any material accident, labour dispute, or failure of equipment.

However, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Coventry to be materially different from any future results, performance or achievements expressed or implied by the forwardlooking information. Such factors include, among others, risks and uncertainties relating to the actual results of exploration activities being different than anticipated, cost of labour increasing more than expected, cost of equipment or materials increasing more than expected, fluctuations in the price of gold and other commodities, currency fluctuations, mineral resources not being as estimated, unexpected variations in mineral resources, grade or recovery rates, risk of accidents, labour disputes and other risks generally associated with mineral exploration and unanticipated delays in obtaining or failing to obtain governmental or community approvals or financing. Although Coventry has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to not be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forwardlooking information due to the inherent uncertainty thereof.