Coro Mining Corp.

Coro Mining Corp.

July 09, 2009 14:00 ET

Coro Recovers 100% Ownership of Llancahue Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 9, 2009) - Coro Mining Corp. ("Coro" or the "Company") (TSX:COP) announces that Freeport-McMoRan Exploration Corp ("Freeport") has elected not to continue with its exploration of Coro's Llancahue prospect, located 38km south west of the city of Talca in central Chile. Freeport recently completed a 7 hole reverse circulation drilling program at Llancahue and one of these holes, LLA-07, intersected 100m at 1.375% CuT + 0.015% Mo+ 3.8g/t Ag from 10m to 110m. The hole was drilled at an inclination of -65 degrees, terminated at a depth of 220m and intersected thin zones of oxide and mixed oxide/chalcocite mineralization before entering primary mineralization at 24m depth. Full details of Freeport's drilling are contained in the Company's press release dated May 28th 2009. Freeport has also withdrawn from Coro's other exploration concessions in the Talca Belt.

Alan Stephens, President and CEO commented, "We thank Freeport for the work they carried out on our Talca Belt properties. Notwithstanding Freeport's withdrawal, Coro firmly believes that additional drilling at Llancahue is justified to determine the ultimate potential of the property. To that end, the Company will complete additional surface exploration, including extending the existing soil and ground magnetic anomalies, and potentially completing an IP survey, to further define drill targets, prior to initiating a follow up drill program, commencing in early October 2009. The existing surface rights access agreement negotiated by Freeport prohibits drilling during the winter season."


Alan Stephens, President and CEO

About Coro Mining Corp.:

The Company was founded with the goal of building a mining company focused on medium-sized base and precious metals deposits in Latin America. The Company intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production and it has established an experienced development and exploration team to accomplish this. Coro's core property is the advanced San Jorge copper-gold project, in Argentina, and the Company holds other earlier stage exploration properties located in Chile.

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.

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