Ann: Quarterly Activities Report , page-8

Full release at link.

http://www.marketwatch.com/story/coventry-resources-reports-winter-drill-results-from-pele-mountains-ardeen-gold-project-2010-05-03?reflink=MW_news_stmp

press release
May 3, 2010, 11:09 a.m. EDT Recommend Post:

Coventry Resources Reports Winter Drill Results From Pele Mountain's Ardeen Gold Project
TORONTO, ONTARIO, May 03, 2010 (MARKETWIRE via COMTEX) -- Pele Mountain Resources Inc. /quotes/comstock/11v!e:gem (CA:GEM 0.13, -0.02, -10.71%) ("Pele" or the "Company") today announced that Coventry Resources Ltd. ("Coventry") has reported winter drill results and updated exploration progress at Pele's Ardeen Gold Project in Northern Ontario. Coventry is earning-in to the project pursuant to its option agreement with Pele and is the project operator during the option period. Ardeen is 100-percent owned by Pele Gold Corporation, a wholly-owned subsidiary of the Company.

Coventry's drilling at Ardeen has targeted along strike and down-plunge extensions of known high-grade gold mineralization. As reported in Pele's press release dated Dec. 3, 2009, Coventry's fall drilling at the Fisher zone has given high-grade gold intercepts of up to 11.6 metres of 27 g/t and 9.1 metres of 8.5 g/t. The 17-hole, 1,383-metre winter drill program at Ardeen focused on the McKellar prospect, where access was difficult last fall due to wet swampy conditions. Highlights include near-surface gold intercepts of: 0.7 metres of 11.0 grams per tonne (g/t) gold, 3.5 metres of 2.65 g/t gold, and 2.7 metres of 4.01 g/t gold. Drilling at McKellar has intersected mineralization over a strike of more than 350 metres.

Ardeen Drill Results

Results from significant drill intercepts for the latest Coventry drilling, using a cut-off of 0.5 g/t Au and internal dilution of one metre, are in the table below. Results include the last three previously unreported holes from fall drilling at the Fisher Zone, as well as one hole from the Matt Berry prospect.