Coronation Minerals Inc.
TSX VENTURE : CMV

May 12, 2008 15:02 ET

Coronation Increases Size of Private Placement Financing to up to $4,761,000

TORONTO, ONTARIO--(Marketwire - May 12, 2008) -

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Coronation Minerals Inc. (TSX VENTURE:CMV) ("Coronation") announces today that it has increased the size of its previously announced offering, as disclosed in a press release dated May 6, 2008, to provide for gross proceeds of up to $4,761,000. All other terms of the financing remain unchanged from the description of the financing confirmed in the Corporation's press release dated May 6, 2008. Completion of the financing remains subject to the approval of the TSX Venture Exchange.

Coronation wishes to confirm that the private placement financing by Jinchuan Group Ltd., previously announced on October 20, 2007, will not proceed.

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

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