Coronation Minerals Incorporated

Coronation Minerals Incorporated

August 17, 2005 14:23 ET

Coronation Minerals Inc.: Press Release

TORONTO, ONTARIO--(CCNMatthews - Aug. 17, 2005) - Coronation Minerals Inc. ("Company") (TSX VENTURE:MSA) announces that it has agreed to the terms of two non-brokered private placements. The first placement ("Unit Placement") of up to 4,000,000 units ("Units") at $0.25 a Unit for gross proceeds, if fully subscribed, of $1,000,000 to the Company. Each Unit will be comprised of one common share and one share purchase warrant, each whole warrant being exercisable for a period of two (2) years at an exercise price of $0.35. The second placement ("Flow-Through Placement") is of up to 3,333,333 flow-through common shares ("Flow-Through Shares") of the Company at $0.30 per Flow-Through Share. If fully subscribed for, the Flow-Through Placement will provide gross proceeds of $1,000,000 to be expended on the Company's Wellgreen, Yukon and Coppermine, Nunavut properties.

In addition, the Company has provided investors with an over-allotment option ("Over-Allotment") for the issuance of up to a further 4,000,000 Units for a further $1,000,000 to satisfy market demand. The Over-Allotment must be exercised no less than 48-hours before closing of the Unit Placement.

The securities issued under the Flow-Through Placement and the Unit Placement (including the Over-Allotment) are all subject to a four-month resale restriction and the entire offering is subject to TSX Venture Exchange approval.

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

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