Greenstone Resources L.P. Subscribes for US$5.1 Million First Tranche of Convertible Debenture of Coro

ST. PETER PORT, GUERNSEY--(Marketwired - Aug. 10, 2015) - Further to a subscription agreement signed on June 16, 2015 ("Subscription Agreement") with Coro Mining Corp. ("Coro"), Greenstone Resources L.P. ("Greenstone") is pleased to announce that it has subscribed for the first tranche (US$5.1 million) of a convertible debenture which forms part of a larger ~US$9.0 million combined convertible debenture (aggregate US$6.5 million) and equity financing (~US$2.5 million). The Subscription Agreement contemplates Greenstone subscribing for a second tranche of the convertible debenture, having a principal amount of US$1.4 million ("second tranche" and, together with the first tranche, the "Convertible Debenture"), and 79,800,000 common shares of Coro ("Equity Offering"), subject to satisfaction of certain conditions precedent.

Coro is required to repay US$6.375 million in respect of the first tranche on July 22, 2016 (350 days from issuance). In the event that this amount is not repaid in full in cash on its maturity date, 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.

In the event that all of the first tranche converted into common shares, Greenstone would acquire ownership and control of up to 208,781,250 common shares of Coro (based on an exchange rate of C$1.31:US$1.00, as of August 7, 2015), representing approximately 56.7% of the issued and outstanding common shares of Coro. Should the proposed Equity Offering and the second tranche complete, and both tranches of the Convertible Debenture convert, Greenstone would acquire ownership and control of an aggregate of up to 345,893,750 common shares, representing approximately 68.5% of the issued and outstanding common shares of Coro. 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 is acquiring the first tranche of the Convertible Debenture (and expects to acquire the second tranche and common shares of Coro) 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.