Mr. Theo van der Linde reports

CORONET ENTERS LETTER OF INTENT TO MOVE LIBERTY MILL FORWARD

Coronet Metals Inc. has entered into a letter of intent to sell a 50-per-cent operational interest in Coronet Metals U.S. Inc., which operates the Liberty precious-metal-processing facility, to First Liberty Power Corp. The Liberty mill is fully permitted to process up to 50 tons of feed material per day from Nevada, as well as out-of-state supply.

The LOI provides that the parties will enter into a definitive share purchase agreement on or before Oct. 6, 2014. In the event the definitive agreement is not entered into before such date, the LOI will terminate and be of no further force and effect.

Coronet president, Theo van der Linde, provided details of this development: "Over the last year, the FLPC management team has increased their mineral properties to more than 1,200 acres, including a gold mineral exploration operation on their Rose Creek properties with near-term expectations of gold production to improve the FLPC balance sheet. Joining forces with FLPC will not only ensure the Liberty mill gets back on line, but Coronet has now taken steps that immediately enhances the prospects of the company's refining business by providing a near-term solution to feed material constraints. Moreover, this partnership advances another Coronet objective of having access to feed material. With relatively straightforward enhancements, the Liberty mill will be able to host a dedicated operational line to produce high-grade stibnite (antimony) concentrate and gold dore sourced from FLPC's properties. Coronet is excited about partnering with FLPC and drawing upon their expertise and resources to allow the Liberty mill to finally recognize its full potential."

We seek Safe Harbor.