Coro Mining Corp.

Coro Mining Corp.

March 24, 2010 14:00 ET

Coro Intercepts 122 Metres of 0.77% Copper From Drilling Program at Chacay Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 24, 2010) - Coro Mining Corp. ("Coro" or the "Company") (TSX:COP) is pleased to announce that its Chilean subsidiary, Minera Cielo Azul Ltda ("MCAL") has completed a 5 hole 1,004m reverse circulation drilling program at its 100% owned Cerro Chacay ("Chacay") porphyry copper property, located 12km southeast of Teck Resources Relincho copper project, and 50km east of the city of Vallenar in the III Region of Chile.

The Chacay property hosts a porphyry copper prospect of probable Paleogene age that has previously been drill tested by several companies. The drill hole locations and summary geological information are available for some of the previous drilling but it has not been possible to obtain the corresponding assay information. A zoned porphyry alteration suite of external propylitic alteration surrounding a phyllically altered core is developed over a distance of 3,500m, oriented west northwest. The most intense alteration occupies an area of 1,000 x 1,000m centered on Chacay. This hill has an elevation difference of 300m over the surrounding valleys and hosts a leached cap, which drilling has shown to vary from 50 to 200m in thickness. Underlying the leached cap, a partially oxidized, flat lying, chalcocite enrichment blanket has been intersected in drilling, that is currently interpreted to be between 20 and greater than 100m thick. Results from the previous round of drilling at Chacay were released in the Company's news release NR 10-01 dated January 5th 2010.

Assay results have now been received for all of holes CHCRC12 and 13 and partial results for holes CHCRC14 and 15, as shown below;

Hole TD m From To m %CuT %CuSol %CuCN Solubility g/t Au
CHCRC13 234 112 234 122 0.77 0.14 0.56 91% 0.05
including   114 172 58 0.99 0.17 0.77 95% 0.05
CHCRC14 174 68 82 14 0.53 0.19 0.28 88% 0.05
    82 174 Results awaited
CHCRC15 204 120 160 40 0.65 0.18 0.44 94% 0.03
    160 204 Results awaited
CHCRC16 186     Results awaited
CHCRC12 206     No significant results

MCAL recently completed reconnaissance mapping at Chacay aimed at further understanding the lithologies and alteration present. This, combined with ongoing re-logging of previous RC drill chips has indicated the presence of two porphyritic rock types; a recessive, early (?) dioritic feldspar porphyry intrusive, exhibiting potassic alteration; and a more prominently exposed, later (?), quartz feldspar porphyry, with moderate to strong quartz-sericite-pyrite alteration. As currently understood, the chalcocite blanket is best developed as enrichment of original primary copper sulphides when hosted by the feldspar porphyry, whereas chalcocite occurs as coatings on pyrite when hosted by the quartz feldspar porphyry.

All holes were vertical except for CHCRC15 which was drilled at -70 degrees. Assays for the bottoms of holes CHCRC14 and 15, together with CHCRC16 are anticipated to be received within 2-4 weeks. A drill hole location map will accompany the news release for the final drill results.

Alan Stephens, President and CEO of Coro, commented, "We are very pleased with the results of this latest round of drilling at Chacay. The upper 58m of CHCRC13 averages almost 1%CuT, the enrichment blanket is at least 122m thick, and we would anticipate that primary mineralization occurs beneath this. We now intend to undertake a diamond drilling program aimed at better defining the chalcocite blanket, providing better understanding of the geology and alteration, and testing the deeper portions of the deposit."

All RC holes were sampled on a 2 m continuous basis, with samples riffle split on site and one quarter sent to the Andes Analytical Assaying laboratory in Santiago. A second quarter was stored at a MCAL facility for reference. Samples were transported to the laboratory by Andes Analytical Assaying under the supervision of MCAL. Samples were prepared using the following standard protocol: drying, crushing to better than 80% passing -10#, homogenizing, splitting and pulverizing a 400 g subsample to 95% passing -150#. All samples were analyzed by sequential assaying for CuT, CuSol and CuCN and for Au, Ag and Mo. A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results.

Angelo Peri, VP Exploration, Coro Mining Corp., a geologist with more than 24 years was responsible for the design and conduct of the exploration, and Alan Stephens, FIMMM, President and CEO, of Coro, a geologist with more than 34 years of experience is the Qualified Person for the purposes of NI 43-101.


Alan Stephens, President and CEO

About Coro Mining Corp.:
The Company was founded with the goal of building a mining company focused on medium-sized base and precious metals deposits in Latin America. The Company intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production. Coro's core property is the advanced San Jorge copper-gold project, in Argentina, and the Company holds other earlier stage exploration properties 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 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 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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