Mr. Murray John reports

CORONA ACQUIRES INTEREST IN KILO GOLDMINES LTD.

Corona Gold Corp. purchased 11.2 million equity units of Kilo Goldmines Ltd. as part of a previously announced private placement that closed today. The price of each unit was 25 cents, and each unit consists of one postconsolidated Kilo common share and one Kilo common share purchase warrant. Each warrant entitles the company to acquire one additional common share for five years at a price of 35 cents during the first two years and 50 cents for the next three years.

Prior to the private placement, Corona directly owned 1.5 million common shares and no other securities of the company. Following the offering, Corona now owns 12.7 million common shares, representing approximately 22.4 per cent of the number of common shares issued and outstanding, as well as warrants to acquire up to a further 11.2 million common shares. Assuming the exercise of all warrants by Corona only and no other exercises, Corona would own up to approximately 35.2 per cent of the number of common shares on a partially diluted basis.

Kilo's principal asset is the Adumbi gold prospect in the Democratic Republic of the Congo.

Corona's participation in the placement was for investment purposes and may be increased or decreased in the future as considered appropriate in light of investment criteria, market conditions and other factors, and in accordance with the provisions of applicable securities legislation.