SOURCE: Coronado Resources Ltd.

September 06, 2007 13:00 ET

Coronado Resources Ltd. -- Madison Property Update

VANCOUVER, BC--(Marketwire - September 6, 2007) - Progress both underground and surface at Coronado Resources Ltd. (TSX-V: CRD) Madison copper/gold property is continuing. The main decline has advanced to a lineal footage of 736 feet and 276 feet of crosscutting and development for a lineal total of 1012 feet completed. Gold ore stockpiled on the surface remains at 670 tons averaging .38 ozs of gold per ton and 1450 tons of copper ore averaging 9.50% copper is also stored on surface. The crushing plant is operational and an automatic sampler has been installed. A 50 ton test run of gold ore was successful and allowed Golden Sunlight personnel to collect a sample for mill testing. An Ore Purchase Agreement prepared by Golden Sunlight has been signed by the company and returned. It is expected to take approximately 3 weeks to obtain results from the sample. Shipping should commence shortly after test results are obtained. The dewatering well is fully functional and working. Coronado Resources and the company's consulting processing engineer are in conversation with several companies regarding purchase of the copper concentrates.

An exploration sampling drill is presently moving underground and should be working shortly. This drill will produce a fine dry sample for mine planning. For the present time underground work will be concentrated on advancing the decline.

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 turn around. 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

  • Contact:
    CORONADO RESOURCES LTD.
    #507 - 595 Howe Street
    Vancouver, BC
    V6C 2T5
    Tel: (604) 683-6338