ASX ANNOUNCEMENT                                                                                                

25 June 2009

High Grade Gold RC Intersection at Corvette

Initial Composite Assays from June 2009 RC Programme

Corvette Resources Ltd (ASX: COV) (The Company) is pleased to announce further high grade gold intersections from Reverse Circulation (?RC?) holes drilled at the Stingray Zone of the Company?s flagship Corvette Prospect (Figures 1 & 2),

The initial assays are part of a 6,000 metre drilling RC program being undertaken by Corvette and followed previously identified high grade intersections at Stingray, including a one-metre intersection of 15.2 g/t Au in the last metre of hole CVRC 48 (as announced to the ASX in March 2009).

Corvette Managing Director, Patrick McManus said these results confirm the potential of the Corvette Prospect to host significant gold deposits, with several other targets ready for drilling.

The latest round of assays comprise four metre composite samples from the first four complete holes, and part of a fifth hole. Results include:

?            CVRC 58 - 16 metres at 5.6 g/t Au from 116 metres (including 8 metres at 9.8 g/t Au from 120 metres).

?            CVRC 56 - 16 metres at 1.2 g/t Au from 104 metres (including 8 metres at 1.7 g/t Au from 108 metres and 4 metres at 1.5 g/t Au from 128 metres).

Hole CVRC 56 was sited 4 metres south of CVRC 48, and drilled 55 metres deeper to a total depth of 180 metres. Hole CVRC 58 was drilled as a scissor hole designed to test the potential 10 metres vertically below the CVRC 48 end-of-hole intersection, and drilled to a total depth of 148 metres (Figures 3 and 4).

Assay results above 0.1 g/t Au and the repeat assays are tabulated in Table 1, and hole locations in Table 2.  Assays are awaited for the remaining 5 holes drilled at the Stingray zone.

Check assays by the screen fire assay method on one-metre samples are in progress.  This assay technique was used to determine the earlier 15.2 g/t Au results in hole CVRC 48, where petrological work has indicated free gold.

Chief Geologist, Mark Teakle said ?We believe these initial results are similar to the some of the higher grade intersections reported from Tropicana-Havana and strongly support our exploration model. We are excited about the potential of the rest of the 12 kilometre long anomalous Corvette prospect. We have a funded programme in place with a further 3 target zones currently being tested by RC drilling. Follow-up drilling at Stingray will be planned when all assays are received.?

Corvette is within the company?s 100% owned Plumridge Project, 250km north east of Kalgoorlie, where it holds more than 2,220km² of granted exploration licences (Figure 1).  Plumridge is situated on the margin of the Albany Fraser Province and within the interpreted reworked transitional margin of the Yilgarn Block, which hosts the five million ounce Tropicana/Havana gold deposit, discovered by the Anglogold Ashanti/Independence JV partners.

Ongoing Work

Three further targets are being tested in the current 6,000 metre RC drilling phase. Follow-up RC and diamond drilling is planned at the Stingray Prospect in due course.

Additional exploration work is also in progress through Corvette?s partnership with CSIRO, announced last month.  A programme of hyper spectral logging, and portable XRF analyses of RC and aircore samples from the Corvette Prospect is also in progress at the CSIRO as part of the The Minerals Down Under research program within CSIRO and the C3DMM (WA 3D Mineral Mapping Centre of excellence).  Analysis will be augmented by mineralogical analysis using Scanning Electron Microscope and Microprobe studies.  This information will be used, with CSIROs 3D mapping software, to build a 3D model of the Corvette mineralization.

Yours Faithfully:

Patrick McManus

Managing Director

25 June 2009

The information in this report that relates to Exploration Results is based on information compiled by Mr Mark Teakle, who is a Member of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Teakle is an employee of Corvette Resources Ltd and has sufficient relevant experience to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral resources and Ore Reserves. Mr Teakle consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

For Further information please contact:

Corvette Resources Limited

Level 4, 14-16 Victoria Avenue

Perth WA 6000

Telephone:      +61 8 9421 1912

Fax:                 +61 8 9221 7866

Email:  pmcmanus@corvetteresources.com.au

Web site: www.corvetteresources.com.au

Investor Relations:

Warrick Hazeldine/Ryan McKinlay

Purple Communications

Tel: +61 8 6314 6300

Please follow the links below to view images:

Figure 1:  Location plan of Corvette Prospect

http://www..purplecom.com.au/_content/documents/1236.JPG

Figure 2:  Stingray Zone within Corvette

http://www..purplecom.com.au/_content/documents/1237.JPG

Figure 3:  Stingray RC Drillhole Location Plan and Significant Au Intersections

http://www..purplecom.com.au/_content/documents/1238.JPG

Figure 4:  Stingray Zone RC Cross-section

http://www..purplecom.com.au/_content/documents/1239.JPG

Table 1: Four-metre composite sample results and laboratory repeats, samples >0.01 g/t Au

Note 1: Sample composites assayed by aqua regia digestion, graphite furnace atomic absorption spectrometry.

Note 2: Sample composites assayed by aqua regia digestion, solvent extraction and graphite furnace atomic absorption spectrometry.

Table 2 RC Drill-hole Location Details- 22 June 2009

Note: Projection GDA94

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