Coronation Minerals Inc.

February 27, 2008 11:08 ET

Coronation Responds re Special Meeting Matters

TORONTO, ONTARIO--(Marketwire - Feb. 27, 2008) - Coronation Minerals Inc. (TSX VENTURE:CMV) ("Coronation") has reviewed the press release of February 26, 2008 issued by Guyana Goldfields Inc. ("Guyana") concerning matters relating to the Coronation special meeting to be held on March 3, 2008 (the "Meeting"). More specifically, Guyana has disclosed that it is voting against the resolutions for the private placement with Jinchaun Group Ltd., to be considered at the Meeting. The reasons given by Guyana for its decision to vote against the resolutions are the same ones given in a letter dated February 19, 2008 sent to Coronation, and also forwarded to the Ontario Securities Commission and the TSX Venture Exchange. Those issues have been addressed by Coronation with the Ontario Securities Commission to its satisfaction, and requested clarifying information was disclosed by Coronation in its press release of February 26, 2008.

Guyana had previously announced its intent to support the Jinchaun private placement, and has been soliciting proxies for a meeting scheduled for March 6, 2008 on that basis.

Coronation's management is concerned that Guyana's current change in its publicly announced intention to support the resolutions at the Meeting is based on the court proceedings to be heard on March 4, 2008 concerning Guyana's proposed special shareholders meeting to change the directors of Coronation.

Coronation Minerals Inc. is a Canadian based exploration and development company. The Company presently controls and holds both the Wellgreen Property, Yukon Territory and the Coppermine River Project, 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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