Greenstone Resources L.P. Acquires Common Shares of Coro Mining Corp.

GUERNSEY, CHANNEL ISLANDS--(Marketwired - Feb. 8, 2016) - Further to a subscription agreement signed on June 16, 2015 ("Subscription Agreement") with Coro Mining Corp. ("Coro" or the "Company"), Greenstone Resources L.P. ("Greenstone") is pleased to announce that it has acquired 79,800,000 common shares of Coro, representing 33% of the Company's issued share capital, for the USD equivalent of C$3,192,000 (C$0.04 per common share) (the "Equity Offering"). The Equity Offering forms part of a larger ~US$9.0 million financing made up of a convertible debenture in the aggregate principal amount of US$6.5 million (the "Convertible Debenture") and the Equity Offering (~US$2.5 million). Greenstone subscribed for the first tranche (US$5.1 million) ("first tranche") of the Convertible Debenture on 7 August 2015 and the second tranche (US$1.4 million) ("second tranche") of the Convertible Debenture on 27 November 2015.

The Company is required to repay under the Convertible Debenture:

• US$6.375 million in respect of the first tranche on July 22, 2016 (350 days from issuance).
• US$1.75 million in respect of the second tranche on November 11, 2016 (350 days from issuance).

In the event that any of the first and second tranche amounts are not repaid in full in cash on its respective maturity dates, any unpaid amount will be converted into common shares of Coro at a conversion price of C$0.04 per share. In addition, Greenstone may, in the circumstances set out in the Convertible Debenture, elect to convert any unpaid amounts into common shares of Coro.

Following the closing of the Equity Offering, in the event that both tranches of the Convertible Debenture convert, Greenstone would acquire ownership and control of an aggregate of up to 429,756,250 common shares (based on the exchange rate at the time of the issuance of the second tranche), representing approximately 72.9% of the issued and outstanding common shares of Coro. Under the terms of the Convertible Debenture, the actual exchange rate will be set on the business day prior to the date of a conversion notice. In connection with the Convertible Debenture and Equity Offering, Greenstone entered into an investor rights agreement with Coro, as described by Coro in its news release of June 16, 2015.

Greenstone has acquired the first and second tranche of the Convertible Debenture and the common shares under the Equity Offering for investment purposes. Depending on market conditions and other factors, Greenstone may from time to time acquire and/or dispose of securities of Coro or continue to hold its current position. A copy of the early warning report required to be filed with the applicable securities commission in connection with the transactions will be available on SEDAR at www.sedar.com and can be obtained by contacting Jo-Anna Duquemin Nicolle and Sadie Morrisson at +44 1481810100. Greenstone's address is set out below.