Coro Announces Updated Resource Estimate for Its Barreal Seco Deposit, Chile

VANCOUVER, BRITISH COLUMBIA, Jul 31 (MARKET WIRE) --
Coro Mining Corp. ("Coro" or the "Company") (TSX: COP) is pleased to
announce the results of a new resource estimate for the Barreal Seco
copper deposit, which is part of its Flores Project, located on the
border of Regions II & III in Chile. This estimate incorporates the
results of the 2007 drilling program which comprised a total of 43
reverse circulation drill holes for 8,510 meters, aimed at expanding and
further defining the in pit resource base. The resource estimate has been
completed by NCL Ingenieria y Construccion S.A., Santiago, Chile. Details
of the updated resource estimate are presented in Table 1. The Company
also reports the results of a column test work program on Barreal Seco
oxide and mixed mineralization, conducted at SGS Mineral Services,
Santiago, Chile ("SGS").

Alan Stephens, President and CEO of Coro commented, "We are pleased that
the drilling we completed in late 2007 has resulted in a substantial
increase in the sulphide resources at Barreal Seco. Metallurgical test
work on the oxides has confirmed that recoveries in excess of 70% are
achievable albeit at relatively high sulfuric acid consumptions. We will
now proceed to evaluate various alternatives for the development of a
heap leach operation at Barreal Seco followed potentially by a flotation
operation, based on this expanded resource."

Updated Resource Estimate

An updated mineral resources block model was produced for the Barreal
Seco deposit, using information from Coro's 2006 and 2007 drilling
campaigns and from earlier Rio Tinto and Atna Resources drilling.

Table 1: Mineral Resources Estimate at a cutoff of 0.3% Cu T (total copper)

---------------------------------------------------------------------------
Tonnes Cu T Cu T Metal Cu Sol. Cu Sol Metal
Oxides x 1000 % lb x 1000 % lb x 1000
---------------------------------------------------------------------------
Measured 7,397 0.60 97,789 0.38 61,896
Indicated 21,031 0.53 247,698 0.33 150,860
Mea+Ind 28,428 0.55 345,487 0.34 212,757
Inferred 2,564 0.44 25,029 0.28 15,993
---------------------------------------------------------------------------
Mixed - -
Indicated 4,361 0.54 51,967 0.20 19,701
Inferred 450 0.42 4,123 0.18 1,804
---------------------------------------------------------------------------
Sulphide - -
Indicated 59,434 0.53 689,578 -
Inferred 15,046 0.41 136,634 -
---------------------------------------------------------------------------
Total - -
Measured 7,397 0.60 97,789 0.38 61,896
Indicated 84,825 0.53 989,243
Mea+Ind 92,222 0.53 1,087,032
Inferred 18,060 0.42 165,785
---------------------------------------------------------------------------

The key parameters used for this resource estimate were:

- Coro geologists prepared a geological interpretation, which defined
High Grade and Low Grade mineralized zones. These were then divided into
oxide, mixed and sulphide categories. Statistical and contact analysis
showed good distinction between the High Grade and Low Grade zones, and
so these two populations were separated for geostatistical purposes.
Mixed and oxide categories showed similar characteristics, which allowed
for their grouping. The sulphide zone was estimated separately.

- Samples representative of the mineralized zones were selected using the
geology solids, complemented with manual selection.

- Correlograms were made for each population, and ordinary kriging of the
Cu T (total copper) was performed, after capping of the highest 1% of the
population.

- Solubility ratios were calculated using the inverse distance squared
method, which then allowed for the estimation of Cu Sol (Soluble copper)
by applying this ratio to the kriged value of CuT.

- The rock density was kriged using values assigned to each sample,
according to the lithology logged. The averages per lithological type
were defined using the results of the 57 available specific gravity
measurements.

- Indicated resources were defined for those blocks estimated with at
least two drillholes within the range corresponding to 80% of the
variance. Measured resources were defined only for oxide resources, using
kriging variance lower than 0.13, which was a threshold defined after
visual inspection of the relationship between the blocks and the
drillholes.

- Results were validated using drift analysis and comparison with Nearest
Neighbour estimates. Good agreement between sample composites, kriged and
Nearest Neighbour estimates was observed, validating the results.

- Whittle optimization, using a copper price of US$2.50/lb Cu was
performed, to determine material which could have reasonable prospects of
economic extraction

Compared to the previous mineral resource estimate for Barreal Seco,
completed in February 2007, which was done at a copper price of
US$1.35/lb Cu, the total copper contained in the indicated resource
category has increased from 22 million lbs to 690 million lbs for
sulphide and from 17 million lbs to 52 million lbs for mixed. The total
copper contained in the measured and indicated oxide resource categories
increased marginally from 325 million lbs to 345 million lbs.

Metallurgical Testwork Results

The Company has completed a program of metallurgical test work on the
oxide and mixed material using drill core from the Barreal Seco deposit
at SGS. A total of 5 composites derived from 641 individual drill core
samples representative of three metallurgical zones of oxide and mixed
mineralization present at the property were produced, and mineralogical
analysis, crushability tests (low energy impact test) and bottle roll
tests were completed for each composite. The results of this initial test
work were then used to construct a total of 10 columns, aimed at
assessing copper recoveries and acid consumptions at differing crush
sizes, acid curing conditions in agglomeration, and column heights.

Mineralogical analysis showed that the principal oxide mineral present is
atacamite, with subordinate chrysocolla, while the principal sulphide
minerals are chalcopyrite, chalcocite and covellite. The mineralization
was shown to have a low crushing work index. A summary of the
mineralogical analysis and crush test is shown in Table 2, and the head
assay results in Table 3.

Table 2: Mineralogical Analysis and Crushing Work Index

-----------------------------------------------------------------------
Mineralogical Analysis Work Index
-----------------------------------------------------------------------
Composite oxide primary mixed leached kWh/t
-----------------------------------------------------------------------
Zone 1 95.0% 0.9% 4.1% 0.0% 6.1%
Zone 2 67.0% 0.0% 32.0% 0.9% 6.6%
Zone 3 87.0% 0.0% 13.0% 0.0% 8.0%
Zone 1 / 2 50% Zone 1 / 50% Zone 2
Zone 1 / 2 / 3 20% Zone 1 / 40% Zone 2 / 40% Zone 3
-----------------------------------------------------------------------

Table 3: Head Assays

-------------------------------------------------------------------------
Head Assays Solubility
-------------------------------------------------------------------------
%CuSol %
Composite %Cu T %Cu Sol %Cu CN %Cu Res %Fe T +CN Soluble
-------------------------------------------------------------------------
Zone 1 0.78 0.58 0.07 0.12 25.7 0.65 83.3%
Zone 2 0.68 0.36 0.19 0.12 21.5 0.55 80.9%
Zone 3 0.79 0.47 0.18 0.l3 16.6 0.65 82.3%
Zone 1 / 2 0.71 0.43 0.13 0.14 21.8 0.56 78.9%
Zone 1 / 2 / 3 0.71 0.41 0.14 0.16 22.9 0.55 77.5%
-------------------------------------------------------------------------

All columns were run for a period of 147 days at an irrigation rate of
10 L/h/m2, with the results shown in Table 4 below

Table 4: Column Testwork Results

-------------------------------------------------------------------------
Column Testwork results
-------------------------------------------------------------------------
Curing Net Acid
Column Composite Col Height P80 acid % Recovery Cons
# m minus Kg/t (0f Cu T) Kg/t
-------------------------------------------------------------------------
1 Zone 1 6 1/2" 10 77.6% 63.4
2 Zone 1 6 1/2" 20 74.0% 73.7
3 Zone 1 6 3/4" 20 77.6% 73.3
4 Zone 2 6 1/2" 20 59.7% 76.4
5 Zone 2 6 3/4" 20 61.8% 76.6
6 Zone 3 4 3/4" 20 71.2% 107.5
7 Zone 1 / 2 6 1/2" 20 72.1% 74.6
8 Zone 1 / 2 6 3/4" 20 71.9% 74.89
Zone 1 / 2 / 3 6 1/2" 20 69.0% 75.7
10 Zone 1 / 2 / 3 6 3/4" 20 65.4% 75.5
-------------------------------------------------------------------------

SGS concluded that:

- the dominantly oxide Zones 1 and 3 composites had broadly similar
recoveries

- the lower recoveries in the Zone 2 and Zone 1/2/3 composites reflect
their higher sulphide content

- there is no clear impact on recoveries of differing granulometry

- reducing the curing acid from 20 to 10kg/t (column 1), reduced acid
consumption from 73.7 to 63.4 kg/t, while maintaining copper recovery

- the high acid consumption in column 6 is partly a function of
erroneously using the same irrigation rate for a 4m column as for the
other 6m columns. The Zone 3 composite also has a higher calcite and
gypsum content

In general, SGS anticipate that recoveries could be increased with
greater than 147 days of leach time and that acid consumptions could
potentially be reduced by agglomerating with less acid.

Future Work Program

The oxide column test work has confirmed that recoveries in excess of 70%
are achievable at Barreal Seco and there is potential to reduce acid
consumptions to the 60-65kg/t range. Further work will focus on assessing
the impact of current high sulphuric acid prices and regional power costs
on the economics of the oxide resource, including the potential for a
smaller scale heap leach operation based on a higher grade core to the
deposit. The Company will also assess the potential for a low capital
cost SX only operation producing copper sulphate, as an alternative to
producing copper cathode via SXEW.

With the definition of a larger sulphide resource at Barreal Seco, the
Company intends to conduct flotation test work which given the
specularite content of the mineralization, will include test work on
recovering iron. Internal evaluations by the Company have demonstrated
that sea water is the most likely water source for an operation at
Barreal Seco, which is located some 70km from the coast.

Qualified Person Notes

The mineral resource estimates contained in this news release have been
prepared in accordance with National Instrument 43-101 Standards of
Disclosure for Mineral Projects ("NI 43-101"). The technical information
in this news release, including the information that relates to geology,
mineralization, drilling, and mineral resource estimates on the Barreal
Seco deposit, is based on information prepared under the supervision of,
or has been reviewed by Alan Stephens, FIMMM, President and CEO, a
geologist with more than 32 years of experience employed by Coro Mining.
The foregoing person is a "qualified person" for the purposes of NI
43-101 with respect to the geology, mineralization and drilling being
reported on.

The "qualified person" responsible for the independent resource estimate
for resources at Barreal Seco was Rodrigo Mello a geologist with more
than 22 years of experience of NCL Ingenieria y Construccion S.A. The
"qualified person" responsible for supervising the metallurgical testwork
and reporting was Heriban Soto, MSc, PhD, and Technical Manager from SGS.

The technical information has been included herein with the consent and
prior review of the above noted qualified persons. The qualified persons
have verified the data disclosed, including sampling, analytical and test
data underlying the information or opinions contained herein.

All mineral resources have been estimated in accordance with the
definition standards on mineral resources and mineral reserves of the
Canadian Institute of Mining, Metallurgy and Petroleum referred to in
National Instrument 43-101, commonly referred to as NI 43-101. U.S.
reporting requirements for disclosure of mineral properties are governed
by the United States Securities and Exchange Commission (SEC) Industry
Guide 7. Canadian and Guide 7 standards are substantially different. This
News Release uses the terms "measured," "indicated" and "inferred"
resources. Mineral resources which are not mineral reserves do not have
demonstrated economic viability. We advise investors that while those
terms are recognized and required by Canadian regulations, the SEC does
not recognize them. Inferred mineral resources are considered too
speculative geologically to have economic considerations applied to them
that enable them to be categorized as mineral reserves.

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. Coro has two main properties; Flores, in Chile and San
Jorge, in Argentina, an option to acquire the Cerro Negro copper mine in
Chile, as well as other exploration properties located in Chile.

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, Prince Edward Island and Newfoundland and
Labrador.

Contacts:
Coro Mining Corp.
Michael Philpot
Executive Vice-President
(604) 682-5546
Email: investor.info@coromining.com
Website: www.coromining.com

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