Coronation Minerals Inc.
TSX VENTURE : CMV

November 27, 2006 10:31 ET

Coronation Minerals Inc.: Drilling Results From Wellgreen Mine Property

TORONTO, ONTARIO--(CCNMatthews - Nov. 27, 2006) - Coronation Minerals Inc. (TSX VENTURE:CMV) (the "Company") is pleased to report additional drill results from diamond drill holes completed on its Yukon Territory, Wellgreen Mine Property.



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Hole # From To Length Cu ppm Ni ppm Pt ppm Pd ppm Au ppm Co ppm
(m) (m) (m) (%) (%) (%)
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WS-06-146 10.59 89.00 78.41 2629 1698 0.40 0.22 0.11 151
(0.26) (0.17) (0.02)
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Including 56.76 66.82 10.06 5269 2523 0.78 0.38 0.22 210
(0.53) (0.25) (0.02)
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WS-06-147 3.66 95.10 91.44 2273 1723 0.36 0.22 0.06 145
(0.23) (0.17) (0.02)
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WS-06-148 27.88 168.35 140.47 1533 2013 0.32 0.26 0.06 135
(0.15) (0.20) (0.02)
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WS-06-149 5.18 97.35 92.17 3827 2625 0.61 0.40 0.11 177
(0.38) (0.26) (0.02)
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Including 75.99 97.35 21.36 6185 2316 1.01 0.54 0.22 180
(0.62) (0.23) (0.02)
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WS-06-150 1.52 107.36 105.84 1745 2913 0.28 0.31 0.04 143
(0.17) (0.29) (0.02)
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Including 101.19 107.36 6.17 6131 3257 0.60 0.47 0.17 192
(0.61) (0.33) (0.02)
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The main focus of the 2006 drill program has been to bring the historical resource estimate to NI 43-101 standards. Watts, Griffis and McQuat Limited, (Preliminary Feasibility Study, April 21, 1989) has been retained for this purpose and has indicated which holes needed to be twinned. Ten of the eleven holes drilled this season have been to this end (WS-06-143 to WS-06-151 and WS-06-153).

Drill hole WS-06-153 in section 3600 East was drilled to twin an earlier hole that was originally drilled in 1988 and intersected 138.44 meters of mineralized ultramafics, 2.17 meters of quartzite and then ultramafic to the end of the hole at 156.06 meters. Only the first 138.34 meters was assayed and graded 0.67% Cu, 0.41% Ni, 0.038 oz Pt/ton, and 0.018 oz Pd/ton over 43.55 meters between the depth of 94.79 meters and 138.34 meters.

Drill hole WS-06-153 (planned depth of 156 meters) was extended to 480 meters to test the thickness of the ultramafic and was still in ultramafic rock when the drill program was shut down for the season because of inclement weather. Due to this larger than expected intersection of mineralization, the current model will be reevaluated, after assay results are received. These results are expected to significantly increase the size of the deposit. The Company's technical personnel are most encouraged with this development and will complete this hole early in the 2007 field season.

Drill hole WS-06-152 was drilled to test the thickness of the ultramafic zone in section 2300 East and is located approximately 90 meters south of WS-88-139 which graded 0.98% Cu, 0.51% Ni, 0.039 oz/ton Pt, 0.019 oz/ton Pd over 32.76 meters.

In addition to drill hole WS-06-153, assays are still pending from holes WS-06-151 and WS-06-152 which will also be included in the reevaluation of the current model.

The table below was previously reported in a press release dated October 18, 2006. Gold and cobalt assays have also been included.



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Hole # From To Length Cu ppm Ni ppm Pt ppm Pd ppm Au ppm Co ppm
(m) (m) (m) (%) (%) (%)
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WS-06-143 3.05 82.14 79.1 783 1836 0.19 0.15 0.03 121
(0.087) (0.184)
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WS-06-144 45.97 84.68 38.71 6354 2655 0.85 0.41 0.27 197
(0.64) (0.27)
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Including 60.96 76.2 15.24 9096 3564 1.28 0.65 0.39 256
(0.91) (0.36)
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WS-06-145 3.05 161.85 158.8 5429 2500 0.61 0.30 0.19 183
(0.54) (0.25)
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Including 78.74 89.76 11.02 9726 3658 0.88 0.62 0.42 263
(0.97) (0.37)
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89.76 92.96 3.2 3597 3102 6.57 2.46 0.71 1201
(3.60) (3.10)
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92.96 138.79 45.83 6815 2386 0.81 0.47 0.3 225
(0.68) (0.24)
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The Wellgreen Mine Property is located 317 kilometers north-west of Whitehorse, just 10 kilometers off the Alaska Highway. A great deal of surface and underground work has been carried out on the property between the initial discovery in 1952 and limited mining in 1972 and 1973 by Hudson Bay Mining Company Limited. Three zones of Copper-Nickel-Platinum-Palladium-Cobalt-Gold have been outlined on the property. Probable and possible resources (historical) are calculated to be 50.03 million tonnes grading 0.35% copper, 0.36% nickel, 0.54grams/tonne platinum and 0.34 grams/tonne palladium (Preliminary Feasibility Study, Watts, Griffis and McQuat Limited, April 21, 1989). Caution should be used when evaluating these resources as they were calculated prior to NI 43-101 existing and a qualified person has not done sufficient work to classify the historical estimate as a current mineral resource.

The Wellgreen exploration and drilling program is being carried out under the direction of Mr. Rory Calhoun, a qualified person within the meaning of National Instrument 43-101. Mr. Calhoun has reviewed the exploration results contained in this news release. Core is split, with half sent to ALS Chemex (Vancouver) for preparation and analysis using fire assay. The Company maintains an archive of half core samples and a photographic record of all drill core for future reference. Sample blanks, duplicates and recognized standards were inserted into the sample stream at regular intervals

Forward Looking Statement

The statements made in this News Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. Accordingly, readers should not place undue reliance on forward-looking statements.

Coronation Minerals Inc. is a Canadian based exploration and development company. The Company presently holds both the Wellgreen Mine Property, Yukon Territory and the Coppermine River Property, Nunavut Territory. Both of these projects are described as Copper-Nickel-Platinum-Palladium prospects.

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

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