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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	CVX

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Corvette Resources

Corvette Resources (ASX:CVX) is the 100% owner of the very exciting and large Plumridge Gold Project located in a new gold province comprising 12 granted exploration licences. The Plumridge Gold Project covers over 2,300km2 and can be found 260km to the northeast of Kalgoorlie.

CVX is entering a substantial phase of Company development with the commencement of a $5 million major drilling campaign at the Plumridge Gold Project in June 2010 and the continuing review of additional projects that can add significant value to the Company.

Corvette Resources drilling intercepts high grade gold at Plumridge Project, WA

Thursday, March 18, 2010

Corvette Resources (ASX: CVX) has received the majority of the assay results for the diamond drilling programme completed in the December quarter 2009 at the Plumridge Project in Western Australia.

The objective of this programme was to determine the location and structural controls on the gold mineralisation, and to obtain lithostratigraphic and structural information across the two main mineralized trends at Corvette.

The Company’s 100% owned Plumridge Project comprises a land holding of 12 granted exploration licences covering 2,302 km2 located 260 km northeast of Kalgoorlie, which covers more than 90 km of strike in the Albany Fraser Foreland Belt.

The Company has defined several large areas of near-surface gold anomalism at Corvette and Viper in the north of the land holding, and to the south at Sprinter, Barracuda, Charger and Roadrunner (the Southern Anomalies), and at some other as yet un-named anomalies.

A total of five pre-collared diamond drill holes were completed for a total of 1,201 m. Three of the holes were targeted on high grade intersections received from earlier RC drilling at the Camaro, Cobra and Stingray prospects; a further 2 lithostratigraphic holes were drilled on the central cross section at Camaro.

High grade results were received from 2 of the diamond drill holes at Camaro as follows: CVDD001: 1.1 m at 11.7 g/t gold from 153.9 m, including 0.25m at 49.7 g/t gold, and CVDD003: 2 m at 21.4 g/t gold from 69m, including 0.5m at 76.5 g/t gold.

Managing Director, Jason Bontempo, said “we are particularly interested in understanding the controls on gold mineralization and locating it within specific structural and alteration settings so we can better target our drilling programmes."

"These diamond drill results, although further studies are still in progress, add weight to the occurrence of high grade gold in structurally controlled lodes at Corvette, and we will continue our search to delineate high grade gold shoots at Corvette and the other advanced prospects and anomalies within our prospective Plumridge Project."

The Corvette area is located 60 km south of the recently discovered 5Moz Tropicana-Havana deposit.

The recent announcement by the AngloGold Ashanti Australia/Independence Group JV of a possible
planned production start in 2013 at Tropicana-Havana is a positive endorsement of the prospectivity of this region.

All drill core was orientated and structurally logged prior to sampling. All results have been received except for the last 115.85 m of hole CVDD004 drilled at Cobra.

Work is underway to process and interpret the considerable amount of exploration information collected at Plumridge in the last 6 - 12 months. The aim is to integrate the datasets, update the exploration model and define targets for the next phases of drilling. This work will be completed in the June quarter 2010.

Bernard Aylward has been appointed Chief Operating Officer of Corvette Resources effective from 12 April 2010.

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