Coronado Resources Ltd.
TSX VENTURE : CRD

Coronado Resources Ltd.

September 10, 2009 14:59 ET

Coronado Resources Ltd.: Copper and Gold Payments-Progress Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2009) - Coronado Resources Ltd. (TSX VENTURE:CRD) has received final assay results from the April/May shipments to China consisting of 914 dry metric tons grading 24.64% copper, from which the company received total proceeds of $366,974 US. A shipment containing 237 dry metric tons with an average grade of 31% copper was made in mid-August 2009 and a payment of $244,008 US was received at the end of August 2009 representing 90% of expected final proceeds. This has allowed the company to repay all outstanding debts, loans and presently stand with a clean balance sheet.

The company is presently awaiting payments for its gold shipment reported in the July 16th news release. The adjusted figures for this shipment are 1327 dry standard tons with an average grade of 0.41ozs of gold per ton. The recent rise in the price of gold bodes well for Coronado, as proceeds are calculated on the spot gold price on settlement, which is expected any day.

Management has decided to take a more aggressive approach in regards to researching and acquiring other projects. In order to fund this endeavor the company is planning a small private placement of up to 1,000,000 shares at $0.15 per share with a warrant exercisable at $0.18 per share for a period of one year.

Coronado Resources has received shareholder and TSX approval for amending the exercise price of existing company stock options to $0.15 per share. The company also granted 300,000 options at $0.15 per share exercisable for a period of two years to a new employee who was engaged to help with new business development and opportunities.

Assays reported above are processed in Norris Labs, a local Montana lab, using the dry assay method for gold and the wet iodide A1 precipitation method for copper. These are compared with the processors' independent labs before final settlement. Norris Labs is not registered by the International Standards Organization; it is used due to proximity and quick turn-around results. 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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