CORAZON MINING LIMITED — Board/Management Information 2005

Oct 27, 2005

Level 3, 22 Oxford Close WEST LEEDERVILLS WA 6872 T: +61 8 9381 1436 F: +61 8 9381 1068 PO Bos 1681 WEST PERTH WA 6872 www.graynicmerals.com.au

28 October 2005

ASX Announcement

APPOINTMENT OF NON EXECUTIVE CHAIRMAN

We are pleased to announce that Mr Ivan Hoffman has accepted the position, effective immediately, of Non Executive Chairman with Graynic Metals Limited.

Mr Ivan Hoffman is a Certified Practicing Accountant and a Fellow of the Institute of Corporate Managers, Secretaries and Administrators. For about 18 years, Mr Hoffman was a corporate advisory consultant specialising in mergers and acquisitions and company reconstructions, during which period he served on the boards of several public listed companies, including mineral exploration and mining companies. Before that, Mr Hoffman worked several years with local and international financial institutions, including four years in investment management and project financing with Lloyds Bank International. Mr Hoffman is currently chairman of the Fortron group of companies and a non-executive director of Saracen Mineral Holdings Limited.

Yours faithfully

Ron Tom Managing Director