Corporate Update  

Vancouver, Alberta CANADA, January 08, 2009 /FSC/ - Covenant Resources Ltd.  (CVA - CNQ),

On behalf of the Board of Directors, we are pleased to announce that the company continues to move forward with our Piebiter Gold property.  Covenant Resources Ltd. is an early-stage natural resource company engaged primarily in the acquisition, exploration and, if warranted, development of mineral properties.  We are currently completing a compilation of field data on the Piebiter Property; this will assist in the development plans for a potential 2009 drilling program.

The Board of Directors would also like to announce that effective Dec 31, 2008; Mr. Doug Walker resigned as C.E.O. while continuing to act as an independent board member and Chairman of the Board. Covenant Resources has appointed Frank Port as C.E.O. and President to lead the company in advancing the exploration program at Bralorne British Columbia also known as the Piebiter Property.

The changing landscape is indeed challenging but also provides many opportunities. The company will be aggressively pursuing such opportunities, especially from a domestic rather than a foreign perspective. However, because of  the environment in Canada in "natural resources", Covenant with its relatively strong balance sheet and no debt may wish to pursue opportunities in oil and gas production or any opportunities that may fall under "natural resources" sector. The opportunities here may once again be more economic. If oil and natural gas prices remain depressed, there may be numerous opportunities to acquire high-quality producing and non-producing properties.

On behalf of the Board of Directors,

Frank Port, FCAM
President & CEO,
Covenant Resources Ltd.


Source: Covenant Resources Ltd. (CVA - CNQ)
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