Coronation Minerals Inc.
TSX VENTURE : MSA

Northern Platinum Limited
TSX VENTURE : NTH

Northern Platinum Limited

July 28, 2005 09:00 ET

Coronation Minerals Inc./Northern Platinum Ltd.: News Release

TORONTO, ONTARIO--(CCNMatthews - July 28, 2005) - Coronation Minerals Inc. ("Coronation")(TSX VENTURE:MSA), Northern Platinum Ltd. ("Northern")(TSX VENTURE:NTH):

Clarification Of Historical Resource Estimate

Further to the Company's news release dated July 22, 2005 the Company provides the additional information about the historical resource estimate.

An historical resource study by Watts Griffis and McQuat Limited for Allnorth Resources dated 1989 shows a near surface "reserve category" of probable 46.7 million tons of 0.35% copper, 0.36% nickel, 0.015 ounces per ton platinum and 0.010 ounces per ton palladium with an additional "possible category" of 8.5 million tons of 0.36% copper, 0.35% nickel, 0.015 ounces per ton platinum and 0.009 ounces per ton palladium, with additional values of cobalt, gold and silver.

- This is an historical estimate.

- This is a near surface deposit.

- This estimate was complied by Watts, Griffis and McQuat Limited and is considered reliable.

- Since the Q.P. does not have any of the basic data (i.e. assay certificates) used in the study, he is unable to explain the differences between the historical data and the current NI 43-101 standards.

- No further work has been done on the Wellgreen deposit since the historical resource estimate was prepared.

- The Company has not done the work necessary to verify the classification of the resource and is not treating them as an NI 43-101 resource verified by a QP. This historical estimate should not be relied upon.

John McGoran is a Q.P. who has reviewed this news release.

Coronation's initial exploration focus will be on the "North Zone" where Cu-Ni-PGM massive sulphides have been encountered.

Coronation will also focus on bringing the historical Wellgreen deposit up to National Instrument 43-101 standards. A drill program will commence presently to bring the deposit up to the 43-101 standards.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Contact Information

  • Coronation Minerals Inc.
    Peter W. Holmes, M.SC.
    Chairman and C.E.O
    (416) 628-5936
    info@coronationminerals.com
    or
    Coronation Minerals Inc.
    347 Bay St. Suite 301
    Toronto, Ontario M5H 2R7
    or
    Northern Platinum Ltd.
    John McGoran, B.Sc.
    President
    (604) 669-2066
    or
    Northern Platinum Ltd.
    #206- 837 Hastings St.
    Vancouver, BC V6C 3N6