Coro Mining Corp.
TSX : COP

Coro Mining Corp.

October 17, 2007 11:10 ET

Coro Mining Corp.: Cerro Colorado-Chacay Property Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2007) - Coro Mining Corp. ("Coro" or the "Company") (TSX:COP) is pleased to announce results of a re-assaying program of previous Reverse Circulation (RC) drill samples from its Cerro Colorado-Chacay Property in Chile.

In March 2005, Minera Cielo Azul Limitada (MCAL), then a subsidiary company of First Quantum Minerals Ltd. (FQM), drilled a total of 7 RC holes at its 100% owned Cerro Colorado-Chacay porphyry copper property. Three of these holes intersected porphyry copper style mineralization but were only assayed for total copper. The significant intersections were as follows:



---------------------------------------------------------
Hole From To Meters %CuT
---------------------------------------------------------
CHCRC02 14 42 28 0.51
---------------------------------------------------------
CHCRC05 190 198 end of hole 8 0.56
---------------------------------------------------------
CHCRC06 82 160 78 0.44
---------------------------------------------------------
- including 102 126 24 0.73
---------------------------------------------------------


Coro acquired MCAL in 2005, and has recently recovered and re-assayed 77 of the mineralized samples for acid soluble (CuSol) and cyanide soluble (CuCN) copper. This re-assaying indicates that the mineralization encountered in holes CHCRC05 and 06 is comprised of mixed copper oxide and chalcocite, exhibiting high total solubilities, rather than mixed oxides and primary sulphides as previously inferred. Mineralization in CHCRC02 was copper oxide. The high grade section in CHCRC06 was re-assayed in its entirety and found to average 24m @ 0.76%CuT, 0.34%CuSol, and 0.27%CuCN, for a total solubility of 79.5%.

Alan Stephens, President and CEO of Coro commented, "We are encouraged by the results obtained in this short re-assaying program, which demonstrates the potential for heap leachable copper mineralization in a partially oxidized chalcocite enrichment blanket at Cerro Colorado-Chacay. Coro will now schedule a drilling program to further test this target."

About the Cerro Colorado-Chacay Property:

The Cerro Colorado-Chacay Property is located 12km south east of Global Copper Corp.'s Relincho copper project, and 50km east of the city of Vallenar in the III Region of Chile.

The Property hosts a well defined porphyry copper prospect of probable Paleogene age that has previously been drill tested by several companies as shown on the following table.



--------------------------------------------------------------------
Cerro Colorado-Chacay Drilling History
--------------------------------------------------------------------
Company Year Holes Meters Results
--------------------------------------------------------------------

--------------------------------------------------------------------
Anglo American 1994 11 2,160 Unavailable
--------------------------------------------------------------------
BHP Billiton 1996 6 1,457 Unavailable
--------------------------------------------------------------------
Metallica Resources 2002 6 1,554 Unavailable
--------------------------------------------------------------------
First Quantum Minerals 2005 7 1,366 Available
--------------------------------------------------------------------

--------------------------------------------------------------------
Total 30 6,537
--------------------------------------------------------------------


The drillhole locations and summary geological information is available for some of the pre FQM drilling but it has not been possible to obtain the corresponding assay information.

The Prospect has been geologically mapped and rock chip sampled by MCAL and based on this work and interpretation of the available drilling information, the limits of the potential chalcocite enrichment blanket have been defined. A short drilling campaign is now being scheduled to twin some of the previous holes that were reported to have intersected mineralization. For further information and drill plan map please refer to the Company's website, www.coromining.com.

All FQM-MCAL RC holes were sampled on a 2 meter continuous basis, with samples riffle split on site and one quarter sent to the ALS Chemex laboratory in La Serena. Samples were transported to the laboratory by FQM-MCAL personnel. Samples were prepared using the following standard protocol: drying, crushing to better than 95% passing 2 millimeters, splitting and pulverizing a 200 gram subsample to 95% passing 0.106 millimeters. All samples were analyzed for CuT; some samples were also assayed for Au. The 2007 MCAL re-assaying program comprised the recovery of 77 selected FQM-MCAL RC samples stored on site and their shipment to Andes Analytical Assays, Santiago Chile for preparation and sequential assaying for CuT, CuSol and CuCN, as well as for Au and Mo. A correlation coefficient of 0.99 was obtained between the original FQM-MCAL and MCAL %CuT reassays.

Angelo Peri, VP Exploration, Coro Mining Corp, a geologist with more than 22 years was responsible for the design and conduct of the exploration, and Alan Stephens, FIMMM, President and CEO, of Coro Mining Corp, a geologist with more than 32 years of experience is the Qualified Person for the purposes of NI 43-101 has reviewed the technical information contained in this news release.

CORO MINING CORP.

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 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 and it has established an experienced development and exploration team to accomplish this. The Company has two main properties; Barreal Seco, in Chile and San Jorge, in Argentina, as well as other exploration properties located in Chile and Mexico.

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, Price Edward Island and Newfoundland and Labrador.

Contact Information