SOURCE: Coronado Resources Ltd.

June 13, 2007 12:50 ET

Coronado Nearing Hi-Grade Gold Zone Gold Ore Stockpiled

VANCOUVER, BC--(Marketwire - June 13, 2007) - Coronado Resources Ltd. (TSX-V: CRD)

The decline at the Madison property in Montana, U.S.A., has reached a linear depth of 630 feet. A crosscut driven at right angle is nearing the hi-grade oxidized zone, assay results from the development work has allowed that 210 tons grading 0.32 ozs of gold be stockpiled. An early estimate from Western Geoscience Inc. of Nevada, the consultant who supervised all surface drilling, suggested the zone presently being developed is 100' x 120'x18' totaling 18,000 tons at 0.650 ozs gold per ton contains 11,700 ozs of gold, which at $640.00 per oz has gross value of over seven million dollars. The foregoing should be considered in-house estimate, this is only one of several zones to be developed. A further 240 tons averaging 7.75% copper has been added to the stockpile now estimated to contain 800 tons averaging 9.75% copper. It should be noted the gold encountered in the development x-cut was completely unexpected, the significance of which will be determined after further mapping and sampling. Using 80% recovering cut off grade for development ore is approximately 0.15 ozs gold per ton.

Assay work was completed by Norris Labs, a local Montana lab using the dry assay method. Norris Labs is not registered by the international standards organization, they are used due to proximity and quick turnaround results. Eugene Larabie, P. Eng., is the "qualified person" overseeing the project. For more information and photos, please visit the company's website at www.coronadoresourcesltd.com.

On Behalf of the Board

"Eugene Larabie"
Eugene Larabie, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. The foregoing information may contain forward-looking statements relating to the future performance of Coronado Resources Ltd. Forward-looking statements, specifically those concerned with future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in filings with the appropriate securities commission.

Contact Information

  • CORONADO RESOURCES LTD.
    #507, 595 - Howe Street
    Vancouver, BC
    V6C 2T5
    Tel: 604.683.6338