Coro Mining Corp.

Coro Mining Corp.

July 10, 2007 09:31 ET

Coro Mining Corp. Closes Its C$13.5 Million Initial Public Offering. Shares to Start Trading on the Toronto Stock Exchange

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 10, 2007) -


Coro Mining Corp. (TSX:COP) ("Coro" or the "Company") has closed its initial public offering ("IPO") of 6 million common shares, at an offering price of C$2.25 per share, for total proceeds of C$13.5 million. Haywood Securities Inc., RBC Capital Markets and Dundee Securities Corporation (collectively the "Agents") acted as agents for the IPO. The Company has granted the Agents an over-allotment option for an additional 900,000 shares on the same terms and conditions for a period of thirty days following closing.

The Agents received a cash commission in the amount of 7% of the gross proceeds of the IPO, and were issued an aggregate of 420,000 compensation warrants, each entitling the holder to acquire one common share of Coro at a price of $2.25 until July 10, 2008.

The common shares of the Company will commence trading on the Toronto Stock Exchange at the open of the market on July 10, 2007 under the symbol "COP".

The Company intends to use the net proceeds of the Offering to complete an exploration program, a scoping study and a pre-feasibility study on its Barreal Seco copper property, in Chile, and to complete a pre-feasibility study on its San Jorge copper property, in Argentina, and to fund the remaining property option payments due in 2007. The remaining proceeds will be used for general corporate purposes.


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.

For further information please refer to the Company's final prospectus filed on

This news release is not intended for and should not be disseminated to or read by any resident of the United States or any U.S. person. The offered securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to or for the account or benefit of U.S. persons, except in certain transactions exempt from the registration requirements of the U.S. Securities Act and all applicable state securities laws.

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.

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