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Coro Announces Drilling Results for Celeste Property in Northern Chile VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Dec 6, 2007 -- Coro Mining Corp. ("Coro" or the "Company") (Toronto:COP.TO - News) is
pleased to announce Reverse Circulation (RC) drilling results
for the Celeste Property, part of the advanced stage Flores
Project (previously known as the Barreal Seco and Satellites
Project), located in northern Chile. The Flores Project
comprises the Barreal Seco, Salvadora, Flor de Lirio and
Celeste Properties. A drilling program comprising a total of 19 RC holes for 3,650 meters has recently been completed at the Celeste Property aimed at following up copper mineralization intersected in drilling by previous owners of the property; and in bulldozer trenching completed in 2006. The results are shown in the following table: -------------------------------------------------------------------------- Hole From To meters %CuT %CuSol OreType TD -------------------------------------------------------------------------- 34R01 6 56 50 0.56 0.21 Oxide 200 34R01 74 140 66 0.44 0.22 Oxide/Mixed -------------------------------------------------------------------------- 34R02 144 154 10 0.66 Primary 200 -------------------------------------------------------------------------- 34R03 No significant results 200 -------------------------------------------------------------------------- 34R04 28 42 14 0.31 0.20 Oxide 200 34R04 52 116 64 0.33 Primary -------------------------------------------------------------------------- 34R05 24 38 14 0.71 0.49 Oxide 200 34R05 142 180 38 0.56 Primary -------------------------------------------------------------------------- 34R06 24 32 8 0.99 0.70 Oxide 200 -------------------------------------------------------------------------- 34R07 106 116 10 0.31 Primary 200 34R07 150 160 10 0.70 Primary -------------------------------------------------------------------------- 34R08 58 78 20 0.38 Primary 200 -------------------------------------------------------------------------- 34R09 54 62 8 3.24 Primary 200 34R09 146 156 10 1.43 Primary -------------------------------------------------------------------------- 34R10 No significant results 200 -------------------------------------------------------------------------- 34R11 " 200 -------------------------------------------------------------------------- 34R12 " 200 -------------------------------------------------------------------------- 34R13 " 200 -------------------------------------------------------------------------- 34R14 24 38 14 1.28 0.76 Oxide 200 34R14 50 74 24 0.54 Primary -------------------------------------------------------------------------- 34R15 8 48 40 0.75 0.44 Oxide 200 34R15 130 142 12 0.45 0.27 Oxide -------------------------------------------------------------------------- 34R16 164 178 14 0.32 Primary 200 -------------------------------------------------------------------------- 34R17 118 144 26 0.80 0.46 Oxide 150 -------------------------------------------------------------------------- 34R18 10 26 16 0.65 0.33 Oxide 150 34R18 76 96 20 0.37 Primary 34R18 106 134 28 0.72 Primary -------------------------------------------------------------------------- 34R19 26 66 40 0.68 0.29 Oxide/Mixed 150 -------------------------------------------------------------------------- Alan Stephens, President and CEO, commented, "The results obtained from this drilling campaign indicate that the potential for a significant copper oxide resource at Celeste is constrained by the generally shallow depth of oxidation and modest soluble copper grades. Interpretation of these latest results together with results of prior drilling suggest that broad zones of structurally controlled primary copper sulphide mineralization are present that may be additive to the overall Flores Project resource base." About the Celeste Property: The Celeste Property is located 28 km to the southwest of the Barreal Seco Property and approximately 10 km south west of the Salvadora Property, and comprises a 2,876 hectare claim block, contiguous with and along strike to the northeast from, the ENAMI owned Cerro Negro IOCG deposit. Coro is evaluating Celeste as a potential source of additional copper resources that could be exploited in conjunction with any eventual operation that may be developed at the Flores Project. Small scale artisinal copper mining activity has been carried out in the Celeste area since the early 1900's. In the period 1994 to 2002, Cominco, (later Teck Cominco Limited), Phelps Dodge and Atna conducted exploration activities at the Celeste Property, including the drilling of 18 RC holes for 4,161 m and 16 DD holes for 4,639 m. No resource estimates were completed. Mineralization at Celeste is of IOCG type, and occurs predominantly within north-northeast oriented, east dipping, swarms of veins and veinlets, and as disseminations in favourable units, cross cutting Cretaceous age andesitic volcanic and intrusives. Drill hole information from previous activity has been utilised in MCAL's interpretations but no details of previous QA/QC or assay certificates are available, nor are drill core or RC chips preserved. Only CuT assays are available for the Cominco and Phelps Dodge holes, while CuT, CuSol and Au assays are available from the three Atna holes. For further information about the Flores Project and a drill plan map showing the recent drilling at Celeste, please refer to the Company's website www.coromining.com. All RC holes were sampled on a 2 m continuous basis, with samples riffle split on site and one quarter sent to the ALS Chemex laboratory in La Serena. A second quarter was stored at a MCAL facility for reference. Samples were regularly collected at Chanaral by a truck belonging to ALS Chemex and transported to the laboratory. Samples were prepared using the following standard protocol: drying, crushing to better than 70% passing -10#, splitting and pulverizing a 1,000 g subsample to 85% passing -200#. All samples were analyzed for CuT and CuSol; some samples were assayed for Au. A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results. Angelo Peri, VP Exploration, Coro Mining Corp., a geologist with more than 22 years was responsible for the design and conduct of the exploration, and Alan Stephens, FIMMM, President and CEO, of Coro Mining Corp., a geologist with more than 32 years of experience is the Qualified Person for the purposes of NI 43-101 and has reviewed the information in this news release. CORO MINING CORP. Alan Stephens, President and CEO About Coro Mining Corp.: The Company was founded with the goal of building a mining company focused on medium-sized base metals deposits in Latin America. The Company intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production and it has established an experienced development and exploration team to accomplish this. The Company has two main projects; Flores, in Chile and San Jorge, in Argentina, as well as other exploration properties located in Chile and Mexico. This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Price Edward Island and Newfoundland and Labrador. Contact: Contacts:
Coro Mining Corp.
Michael Philpot
Executive Vice-President
(604) 682-5546
Email: investor.info@coromining.com
Website: http://www.coromining.com
Source: Coro Mining Corp.
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