SOURCE: Coronado Resources Ltd.

January 11, 2008 09:30 ET

First Gold Shipment From Madison Property Has Been Processed

VANCOUVER, BC--(Marketwire - January 11, 2008) - Coronado Resources Ltd. (TSX-V: CRD) is continuing work on the Madison Gold/Copper Property near Silver Star Montana. At the present time the decline is approaching the gold zone on the second level, with mining continuing on the first level. A shipment of 1148 dry tons has been hauled to and processed by the Golden Sunlight Mine. Coronado has not received a final accounting from Golden Sunlight as per grade, recovery and net revenue. This is expected shortly and will be reported when received. A second shipment of approximately 700 tons was made this month. Each shipment is treated separately as per assaying recovery test and payment.

A 198 ton shipment to test the copper was sent to Contact Mine processing plant in Phillipsburg, Montana. A 51% copper concentrate was produced. Metallurgical work continues for testing of methods for concentrating and improving recovery.

Coronado is in discussions with a broker exploring the possibility of shipping copper mineralization direct with only on site crushing required. This is considered the most attractive method by the company at this time.

Assay work was completed by Norris Labs, a local Montana lab using the dry assay method. Norris Labs is not registered by the International Standards Organization; they are used due to proximity and quick turn around results.

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

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

  • Contact:
    CORONADO RESOURCES LTD.
    # 507 - 595 Howe Street
    Vancouver, BC
    Canada V6C 2T5
    Tel: 604.683.6338