Mr. Alan Stephens reports

CORO ANNOUNCES TERM SHEET FOR FINANCING THE BERTA PROJECT AND LETTER OF INTENT FOR PURCHASE OF THE NORA PLANT

Coro Mining Corp.'s subsidiary SCM Berta (SCMB) has signed a non-binding term sheet with Freepoint Commodities LLC for a senior secured term loan facility for up to $17.5-million (U.S.), plus a $2-million (U.S.) cost overrun facility, for the development and construction of the Berta project, including the acquisition and expansion of the Nora solvent extraction and electrowinning (SXEW) plant. This proposed financing replaces the Fundart financing proposal announced in the news release of Sept. 3, 2014.

In addition, SCMB has executed a new letter of intent with SCM Trinidad, the company in administration which owns the Nora plant, setting out the process by which SCMB may complete the acquisition of the plant. The new LOI was required after the company's due diligence revealed that the Nora operating permits were incomplete and required remediation work for their reinstatement. Trinidad has agreed that the cost of this work may be deducted from the final purchase price and that this will not be paid until the plant is fully permitted to operate.

Alan Stephens, president and chief executive officer of Coro, commented: "We are very pleased that SCMB has executed both the term sheet with Freepoint and the LOI with the owners of the Nora plant, and look forward to them completing the acquisition of the Nora plant and the construction of Berta during 2015. We also look forward to forging a long and mutually beneficial relationship with Freepoint as we grow our copper business in Chile."

Philip Bacon, global head of metals trading at Freepoint Commodities, commented: "We are delighted to be working with a management team of Coro's calibre. While the immediate focus is on the Berta project, Coro is well placed to pursue its broader portfolio of copper projects in Chile due to its strategic relationship with its local technical partner ProPipe."

Nora plant acquisition

The process to complete the acquisition of the Nora plant is as follows:

• SCMB and Trinidad have executed the LOI, which will be replaced by a binding promise to purchase/sell agreement (PPSA) within 90 days.
• Upon execution of the PPSA, SCMB will complete certain minor remediation works required by the Chilean authorities to reinstate operating permits for the plant.
• Upon satisfactory granting of all necessary operating permits and titles, and their transfer to SCMB, Trinidad and SCMB will execute a final purchase agreement (PA) for a total price of 2.5 billion Chilean pesos (approximately $4.1-million), less all costs related to the remediation work.

About Freepoint

Founded in 2011, Freepoint is based in Stamford, Conn., with more than 250 employees worldwide. Freepoint is a merchant of physical commodities, and a financer of upper and mid-stream commodity-producing assets. Freepoint also provides physical supply services and related structured solutions for counterparties. Private equity funds managed by Stone Point Capital, together with Freepoint management and senior employees, have provided Freepoint with committed equity capital.

About the Nora plant

The Nora plant was built in 2009, and comprises a 750-kilotonne-per-year crushing circuit and a three-kilotonne-per-year SXEW plant with associated heap-leach pads, spent ore stockpiles, piping, pregnant leach solution ponds and others, together with certain mining properties and surface rights. SCMB is acquiring all of these physical assets, which have been maintained in good condition since 2013 when the plant closed, free of debts, liabilities and liens. SCMB will enter into new water supply contracts with the previous suppliers to the plant. The spent ore stockpile from the previous period of operation contains potentially recoverable copper, and SCMB has also identified some dump material within trucking distance of the plant, both of which will be evaluated as potential feed for the plant in 2015 while Berta is being developed. The Nora plant is located in an emerging district of major iron-ore-copper-gold projects, approximately 11 kilometres from Capstone's Santo Domingo Cu-Fe-Au flotation project and 10 km from Copec's Diego de Almagro Cu-leach plus Cu-Au flotation project, both of which are in the permitting stage.

About Berta

Berta is a near-surface copper oxide deposit, with mineralization, as defined by drilling, mapping and geochemistry, occurring in three principal areas: Berta Sur, Berta Central and Berta Norte. It is associated with subvertical, elongate, porphyry intrusive bodies, and related hydrothermal and intrusive breccias, emplaced into a tonalite stock. Oxidation extends from surface to depths of 50 metres to 100 metres. Berta Sur comprises a single, coherent body of mineralization that has not been previously mined, while Berta Central comprises several smaller breccia bodies, located immediately north of Berta Sur, which were the focus for previous small-scale artisanal copper oxide production. A resource estimate has been completed for Berta Sur and Central. Berta Norte comprises several, discrete, northwest-oriented zones of mineralization, largely gravel covered; and potential for additional copper oxide resources is present elsewhere on the property and in the surrounding district.

Coro announced an initial resource estimate for Berta Sur, in its news release dated Dec. 6, 2012, and the results of preliminary metallurgical testwork in its news release dated Nov. 5, 2012. On May 8, 2013, the company announced that it had signed a letter of intent with ProPipe, an engineering firm based in Santiago, Chile, giving ProPipe the right to earn up to a 50-per-cent interest in the Berta property by financing the further development of the project. On Aug. 7, 2013, Coro announced an increased resource estimate for Berta, together with the results of additional metallurgical testwork. The shareholders' agreement for SCM Berta, owned by subsidiaries of Coro and ProPipe, has been signed. On Sept. 15, 2014, Coro announced the conclusions of a preliminary economic assessment for Berta, and on Oct. 23, 2014, announced that Berta had received approval for its environmental impact declaration.

About ProPipe

ProPipe is a Chilean supplier of consultancy, engineering and project management services to its customers in the mining process, infrastructure and environment markets. ProPipe has relevant experience in conceptual and basic design, preliminary feasibility and feasibilities studies, and detailed engineering for mining companies in Chile. Some of its principal clients are BHP Billiton (Minera Escondida), Antofagasta Minerals (Minera Los Pelambres, Minera El Tesoro and Minera Esperanza), Minera Las Cenizas, and Algorta Norte. ProPipe's recent projects include the Camarones seven-kilotonne-per-year copper cathode plant, the Algorta Norte 78 km sea water pipeline and Minera Escondida's Coloso filter plant expansion project.

We seek Safe Harbor.