Coronado Resources Ltd.

Coronado Resources Ltd.

October 28, 2009 12:23 ET

Coronado Resources Ltd.: Exploration Drill Results Return Gold Intercept of 17.5 Feet .607 Oz/Ton/Au

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 28, 2009) - Coronado Resources Ltd (TSX VENTURE:CRD) has gold assay results from the first two diamond drill holes designed to test the extent of the known gold zones and attempt to locate more high-grade copper zones. The first hole (U1) was drilled below the lowest working level of 500 feet and intercepted 30 feet averaging .313 oz/ton/au (11.81 gm/mt au), included in that intercept was 15 foot section containing .528 oz/ton/au (19.93 gm/mt au). The second hole (U2) was drilled to the north of hole U1 and intercepted 36 feet averaging .390 oz/ton/au (14.72 gm/mt au) and included in that was a section of 17.5 feet of .607 oz/ton/au (22.92 gm/mt au). Both holes indicated silver averaging 1.50 oz/ton/ag (56.63 gm/mt ag) with copper in the 2% range.

The company is currently mining the crosscuts in the first level (200 ft level) where the gold oxides were previously mined and sent for processing at Barrick's Golden Sunlight mill. The gold oxides are mainly from the crosscuts support pillars and are estimated to be around 800 tons in the order of .400 oz/ton/au (15.10 gm/mt au). A sample has been sent to Kinross to test the compatibility of our gold oxide for processing at their facility.

Underground diamond drilling continues and results will be published as soon as they are made available.

About Coronado Resources
Coronado Resources Ltd. is a Canadian based exploration and development mining company that is focused on its 100% owned Madison Gold/Copper property in Montana, USA. Madison is a former producer that is now producing cash flow from high grade shipments which commenced in 2008 with recent grades averaging 35% cu and .47 oz/ton/au (17.74 gm/mt au). The Madison region hosts well establish processing and mining infrastructure. The company remains focused on expanding the Madison project with continued exploration and development drilling from the cash flow from sales. Our proven management team is actively pursuing new mining opportunities for its shareholders.

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 and are used due to proximity and quick turnaround results. Eugene Larabie, P. Eng. is the "qualified person" overseeing the project.

On Behalf of the Board

Eugene Larabie, P. Eng., President

Coronado Resources Ltd.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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