Coro Mining Corp.
TSX : COP

Coro Mining Corp.

July 16, 2015 13:57 ET

Coro Announces Election of Directors and Results from Annual General and Special Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 16, 2015) - Coro Mining Corp. (TSX:COP) ("Coro", the "Company") is pleased to report that all of the nominees listed in its information circular dated June 17, 2015 were elected as directors of Coro at the Company's annual general and special meeting of shareholders held in Vancouver, Thursday, July 16, 2015 (the "Meeting").

The detailed results of the votes received by proxy are listed below.

FOR WITHHELD
Robert A. Watts 60,214,744 147,967
Alan J. Stephens 60,198,941 163,770
Michael D. Philpot 59,976,209 386,502
Alvin W. Jackson 59,959,620 403,061
Roderick J. Webster 59,668,998 693,713
Gordon J. Fretwell 59,928,023 434,688

In addition, the Company announces that its shareholders approved the following other resolutions:

  • Approval of certain financing transactions with Greenstone Resources L.P. (the "Financing Transactions")
  • Approval of the alterations to the Company's Articles
  • Approval of the Company's 10% rolling Stock Option Plan

The approval of the Financing Transactions authorizes the issuance of common shares of the Company including the common shares to Greenstone Resources L.P. as part of the US$9.0 million combined convertible debt and equity placement that was announced on June 16, 2015. The Company anticipates closing the first tranche of the convertible debenture portion of the Financing Transactions shortly. The proceeds of this first tranche will be used to complete the acquisition of the Nora Plant.

CORO MINING CORP.

Alan Stephens, President and CEO

About Coro Mining Corp.:

Coro's strategy is to grow a mining business through the discovery, development and operation of "Coro type" deposits. These are defined as projects at whatever stage of development, that are well located with respect to infrastructure and water, which have low permitting risk, and which have the potential to achieve a short and cost effective timeline to production. Our preference is for open pit heap leach copper projects, where we will seek to minimise capital investment rather than maximise NPV, where we will prioritise profitability over production rate, and finally, where the likely capital cost is financeable relative to our market capitalization. Coro's principal properties are the Berta pre-production project, the Planta Prat copper development project and the Marimaca copper exploration prospect, all 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 completion of the Financing Transactions, 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 risk that all conditions precedent to completion of the Financing Transaction will not be satisfied, 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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