Coronado Resources Ltd.
TSX VENTURE : CRD

Coronado Resources Ltd.

October 22, 2009 14:10 ET

Coronado Resources Ltd.: 2009 Diamond Drill Program Begins on High-Grade Madison Gold Copper Property in Montana, USA

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2009) - Coronado Resources Ltd. (TSX VENTURE:CRD) has signed a diamond drill contract to reactivate exploration on its wholly owned Madison Gold & Copper Property in Montana, USA. Initial drilling is designed to expand the known mineralization of high grade gold and copper intercepts immediately below and on strike with the workings in the 500 foot level underground. This level developed exposed ore over 100 feet long and up to 20 feet wide which was followed upward 30 feet. The stope yielded over 2,300 tons of .57 oz/ton gold. Drilling will also test the extension of the bonanza grade chalcocite, which averaged 35% copper on the last shipment.

The purpose will be to prove the downward extent of the known gold zone as well attempt to locate more high-grade copper zones. Several areas below the 500 ft level with previous gold intercepts, Hole 86-6: 24 ft of .941 oz/ton Au, Hole 06-08: 17.7 ft of .682 oz/ton Au (or 9 ft of 1.218 oz/ton Au), and Hole 05-06: 54 ft of .322 oz/ton Au. We will also target the area beyond the high-grade copper zone as it has yet to be explored.

Coronado Resources Ltd. is a Canadian based exploration and development mining company that is focused on its 100% owned Madison Gold/Copper property in Montana, USA. Madison is a former producer that is now producing cash flow from high grade shipments which commenced in 2008 with recent grades averaging 35% cu/ton and .47 au/oz/ton. The Madison region hosts well establish processing and mining infrastructure. The company remains focused on expanding the Madison project with continued exploration and development drilling from the cash flow from sales. Our proven management team is actively pursuing new mining opportunities for its shareholders.

Assay results noted above have been previously reported.

Eugene Larabie, P. Eng. Is the "qualified person" overseeing the project. For more information, please visit the company's website at www.coronadoresourcesltd.com.

On Behalf of the Board

Eugene Larabie, President

The foregoing information may contain forward-looking statements relating to the future performance of Coronado Resources Ltd. Forward-looking statements, specifically those concerned with future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in filings with the appropriate securities commission.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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