Mr. Alan Stephens reports

CORO ANNOUNCES RESULTS FROM MARIMACA PROJECT DUE DILIGENCE

Coro Mining Corp. has completed due diligence on the Marimaca project, located 56 kilometres north of the city of Antofagasta and approximately 22 km from the coast at Mejillones, in the II region of northern Chile. Based on the results of this work, Coro has elected to proceed to option the project from SCM Compania Minera Constanza, on the terms described in the company's news release of Aug. 13, 2014, and is drafting the definitive agreement to do so.

Alan Stephens, president and chief executive officer of Coro, commented: "Our due diligence at Marimaca has confirmed the potential we identified initially. Surface sampling and geological mapping indicates that oxide copper mineralization occurs within an eastward-dipping shear structure, some 250 m in estimated true thickness and exposed over at least 600 m. It is currently being exploited in a series of small open pits over a vertical elevation difference of 100 to 150 m by mechanized artisanal miners. The weighted average of 365 m of chip channel samples taken at various places along the exposed strike length is 0.49 per cent total copper (CuT)/0.36 per cent copper monosulphide (CuS), including an internal waste section, and we are increasingly confident that a significant leachable copper oxide resource may be rapidly defined at Marimaca."

Due diligence sampling and mapping results

Marimaca is an early-stage copper oxide prospect hosted by Jurassic intrusive rocks, with mineralization controlled by a north-northeast-oriented major shear structure, dipping approximately 50 degrees to the east. Coro took a total of 73 samples from six separate continuous chip channels with the results shown in the associated table.

                        MARIMACA CHIP CHANNEL SAMPLES

Length (m)         CuT (%)   CuS (%)  %CuS/CuT                   Description

150                   0.36      0.24       67%     one end in mineralization
incl. 85              0.48      0.32       68%
30                    0.53      0.43       80%   both ends in mineralization
65                    0.62      0.49       79%
50                    0.10      0.03       31%          internal waste block
45                    0.93      0.71       76%   both ends in mineralization
25                    0.79      0.67       85%
Weighted average      0.49      0.36       74%    365 m incl. internal waste
                      0.55      0.41       75%    315 m excl. internal waste

The mineralization, occurring as malachite and chrysocolla, appears to be present within the shear as several higher-grade, elongated, lenticular zones parallel to strike possibly located in zones of dilation, surrounded by lower-grade halos, and separated by internal waste blocks. A series of north-south-oriented, mineralized, subvertical structures transect the shear zone. The sampling program was designed to be as representative as possible of the entire shear zone, avoiding focusing on obviously high-grade mineralization in existing workings that could have otherwise skewed the overall results. An image on the company's website shows the location of the chip channel samples and the shear zone, while another image is an annotated photograph showing the dip of the mineralized zone.

Metallurgical column testwork carried out in 2007 on four samples ranging from 0.66 to 3.05 per cent CuT and 0.51 to 2.99 per cent CuS collected by a third party, indicated that recoveries of 74 to 89 per cent of total copper were achievable in 48 days with net acid consumption ranging from 25 to 43 kilograms per tonne. Coro believes that this testwork was carried out in a professional manner but has not validated the location or representativity of the samples used nor verified the testwork results obtained. They are provided for information purposes only and should not be relied upon.

Option terms

The agreed purchase terms for Coro to own a 75-per-cent interest, are as follows:

• $10,000 payment on signature of LOI (paid);
• $40,000 payment due on Feb. 6, 2015;
• $125,000 payment due on formation of a Newco (51 per cent Coro/49 per cent Constanza) on completion of a National Instrument 43-101-compliant resource estimate and engineering study that demonstrates the technical and economic feasibility of producing a minimum of 1,500 tonnes per year Cu as cathode by Aug. 6, 2018, at Coro's sole cost;
• Additional 24-per-cent interest in Newco earned by Coro upon obtaining financing for the project construction;
• The owner's interest to comprise a 15-per-cent interest free carried to commencement of commercial production and a 10-per-cent participating interest subject to dilution; owners at their election may request Coro to loan them the equity portion corresponding to their 10-per-cent interest, if any; loan plus applicable interest to be recoverable by Coro from 100 per cent of the project's free cash flow after debt repayments;
• Coro to have first right of refusal over Constanza's interest.

Sample and assay protocol

The samples were taken as five m continuous chip channel samples in surface outcrops, road cuts and existing open pits by Coro personnel. The samples were transported to the Andes Analytical Assays (AAA) laboratory in Antofagasta by Coro personnel. Samples were prepared using the following standard protocol: drying, crushing to better than 80 per cent passing minus 10, homogenizing, splitting and pulverizing a 400-gram subsample to 95 per cent passing minus 150. All samples were assayed for CuT and CuS by AAS. No standards, blanks or duplicates were employed.

Sergio Rivera, vice-president of exploration, Coro Mining, a geologist with more than 35 years of experience and a member of the Colegio de Geologos de Chile and of the Instituto de Ingenieros de Minas de Chile, was responsible for the design and execution of the exploration program and is the qualified person for the purposes of NI 43-101. Alan Stephens, FIMMM, president and chief executive officer, of Coro Mining, a geologist with more than 39 years of experience, and a qualified person for the purposes of NI 43-101, is responsible for the contents of this news release.

We seek Safe Harbor.