Coro Reports Remaining Results From Second Phase Drilling Program at Berta Copper Project and Announces Initiation of Resource Drilling and Metallurgical Sampling

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 31, 2012) - Coro Mining Corp. ("Coro" or the "Company") (TSX:COP) is pleased to announce the remaining results from the recently completed Phase II, 32 hole (10,520m) reverse circulation drilling program at its Berta property, located approximately 20km west of the PanAust/Codelco owned Inca de Oro feasibility stage project and 30km southeast of Anglo American's Manto Verde copper heap leach mine, in the III Region of Chile. Initial assay results from 20 of these holes were released on June 13^th 2012. The latest results are shown on Table 1 below, including additional results from hole BR-41, which was extended after bottoming in mineralization. Coro announced the terms for the 100% acquisition of Berta in its news release of June 13th 2011, and results from its Phase I drilling in its news release of September 27^th 2011.

Alan Stephens, President and CEO of Coro commented, "Our objective at Berta is to define a relatively modest sized oxide deposit that can be placed into production quickly and cheaply, and thus generate cash flow for our Chilean exploration program. The reported results are mainly from the lower grade, southwest extension of the Berta Sur area. An infill grid drilling reverse circulation drilling program on 50m centers is in progress, in order to produce an NI43-101 compliant resource estimate for the higher grade oxide material at Berta Sur and Berta Central. Sampling of diamond drill core and surface trenches is underway to provide material for a preliminary metallurgical column test work program."

Table 1: Significant intersections
Hole	from	to	m	%CuT	%Mo	%CuEq		Type	Area
BR-41	0	40	40	0.35	0.003	0.36		Oxide	Norte
and	228	314	86	0.40	0.032	0.52		Sulphide	Norte
BR-46	0	48	48	0.28	0.002	0.29		Oxide	Sur
and	68	92	24	0.20	0.007	0.22		Mixed	Sur
BR-47	14	36	22	0.20	0.001	0.20		Oxide	Sur
BR-48	32	102	70	0.27	0.005	0.29		Oxide	Sur
and	118	148	30	0.20	0.005	0.21		Oxide
BR-50	20	66	46	0.21	0.003	0.22		Oxide	Sur
BR-54	8	18	10	0.23	0.006	0.26		Oxide	Sur
and	30	40	10	0.32	0.010	0.36		Oxide	Sur
and	50	62	12	0.24	0.003	0.25		Mixed	Sur
BR-56	36	46	10	0.38	0.003	0.39		Oxide	Sur

No significant intersections were received from holes BR-40, BR-49, BR-51 to BR-53 and BR-55. All drill hole locations are shown on the attached map and table. Copper equivalents were calculated at $3.00/lb Cu and $12/lb Mo, with no adjustment for metallurgical recoveries. In particular, no molybdenum would be recovered from the envisaged oxide operation.

About Berta

Mineralization, as defined by drilling, mapping and grid geochemistry, occurs in three principal areas; Berta Sur, Central and Norte, and is associated with sub-vertical, elongate potassically altered porphyry intrusive bodies and related hydrothermal and intrusive breccias, emplaced into a tonalite stock. At Berta Sur, this mineralization is present within an area of approximately 500m by 300m, oriented ENE, with oxidation extending from surface to depths of 50m in the east to greater than 150m in the west. Berta Central comprises a smaller body, sub-parallel to and located immediately north of, Berta Sur and was the focus for previous artisanal mining. Berta Norte comprises several, discreet, NW oriented zones of mineralization, individually 25-85m in width and 100-250m in strike length, partially gravel covered, and mostly intersected at depth as sulphides in this phase of drilling. Copper and molybdenum mineralization broadly occur together at Berta although copper can occur without molybdenum and vice versa.

Berta has previously been explored by two major mining companies in the 1990's who completed wide spaced shallow percussion drilling (48 holes, 1,090m), reverse circulation ("RC") drilling (49 holes, 6,033m), and bulldozer trenching. More recently, Grandcru Resources Corp, completed diamond drilling (9 holes, 3,311.4m) in 2006-2007. All of the previous holes were assayed for total copper (%CuT), and the oxide sections of 42 of the RC holes were assayed for acid soluble copper. With the exception of 42 of these RC holes, all holes were assayed for molybdenum. Coro completed a 24 hole, 4360m RC program in 2011.

All Coro 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 Copiapo for preparation and then to their assay laboratory in Santiago. A second quarter was stored on site for reference. Samples were transported to the laboratory by Andes Analytical Assaying under the supervision of Minera Coro Chile Ltda's contractor, Geominco, who also logged the drill cuttings. 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 holes were assayed for CuT and Mo, with intersections containing greater than 0.1% CuT also assayed for CuS and Au. A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results.

Sergio Rivera, Vice President of Exploration, Coro Mining Corp., a geologist with more than 30 years of experience and a member of the Colegio de Geologos de Chile and of the Instituto de Ingenieros de Minas de Chile, was responsible for the design and execution of the drilling program and is the Qualified Person for the purposes of NI 43-101.

To view Figure 1, click on the following link: http://media3.marketwire.com/docs/c730m1.pdf

Table 2: UTM Collar coordinates for Coro Phase II RC holes.
Hole	East	North	Elevation	Azimuth	Dip	TD
BR-25	394931	7044481	1725	160	-60	400
BR-26	394902	7045679	1677	230	-60	400
BR-27	394722	7045538	1688	230	-60	300
BR-28	394800	7045344	1660	230	-60	300
BR-29	394973	7045481	1667	230	-60	250
BR-30	395129	7045604	1659	230	-60	400
BR-31	394863	7045199	1687	230	-60	290
BR-32	395126	7045347	1682	230	-60	400
BR-33	395254	7045478	1678	230	-60	400
BR-34	395366	7045281	1707	230	-60	374
BR-35	394961	7044991	1696	230	-60	368
BR-36	394974	7045030	1695	50	-60	400
BR-37	395160	7044915	1728	50	-60	400
BR-38	395260	7045200	1704	230	-60	400
BR-39	394658	7044913	1711	160	-60	288
BR-40	394734	7044666	1706	160	-60	336
BR-41	395181	7044816	1716	160	-60	400
BR-42	395041	7044336	1741	160	-60	400
BR-43	395067	7044265	1755	160	-60	300
BR-44	394896	7044430	1733	160	-60	300
BR-45	394965	7044243	1755	160	-60	300
BR-46	394965	7044243	1755	340	-60	200
BR-47	394884	7044164	1757	160	-60	300
BR-48	394819	7044214	1751	160	-60	300
BR-49	394864	7044230	1753	160	-60	300
BR-50	394745	7044128	1756	160	-60	250
BR-51	394650	7044090	1745	160	-60	250
BR-52	394600	7044500	1737	270	-60	400
BR-53	394420	7044020	1714	160	-60	216
BR-54	395098	7044324	1744	160	-60	300
BR-55	394688	7043998	1747	160	-60	300
BR-56	394780	7044032	1755	160	-60	298

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 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 properties include the advanced San Jorge copper-gold project, in Argentina, and the Berta, El Desesperado, Chacay, Llancahue, and Celeste copper 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 and molybdenum, metallurgical results and resources, 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.