SOURCE: Coronado Resources Ltd.

October 11, 2007 12:48 ET

Coronado to Begin Gold Production

VANCOUVER, BC--(Marketwire - October 11, 2007) - Coronado Resources Ltd. (TSX-V: CRD) reports that it has received confirmation from Barrick Gold Corporation's (TSX: ABX) Golden Sunlight Mine that it will accept Coronado's gold ore for processing.

Golden Sunlight Mine is located 26 miles from Coronado's Madison property and expects to commence shipping on or about October 17, 2007. Golden Sunlight Mine took a representative sample from 50 tons of crushed ore and produced a higher than expected grade of .477ozs per ton of gold with a 70% recovery rate.

Mining of the gold ore is underway on level 1 and the initial mining will extract ore from areas where chips samples from the walls of underground development produced assays of .657ozs of gold per ton over 30 feet in length, .554ozs of gold per ton over 25 feet, .661ozs of gold per ton over 10 feet and 1.008ozs of gold per ton over 10 feet.

The present production and processing will allow cash flow to Coronado Resources Ltd. as early as December 2007 and continue to increase in the early months of 2008.

NetTV.TV of London, England (www.nettv.tv) will be on site at the Madison Property on October 18, 2007 to film a 30-minute documentary on Coronado's early stage production and its ongoing progress. Upon completion of the documentary Coronado will post a link on its website for public and shareholder viewing.

Assay work was completed by Norris Labs, a local Montana lab, using the dry assay method.

Norris Labs is not registered by the international standard organization; they are used due to proximity and quick turnaround. Eugene Larabie, P. Eng., is the "qualified person" overseeing the development program. For more information, please visit the company's website at www.coronadoresourcesltd.com.

On Behalf of the Board

"Eugene Larabie"

President

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

Contact Information

  • CORONADO RESOURCES LTD.
    #507-595 Howe Street
    Vancouver, BC
    V6C 2T5
    Tel: (604) 683-6338