CORAZON MINING LIMITED — Capital/Financing Update 2005

Sep 28, 2005

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

ASX RELEASE

29 September 2005

GRAYNIC COMMISSIONS AEROMAGNETIC SURVEY AT OUARTZ CIRCLE

Graynic has commissioned UTS Surveys to carry out a low level, high-definition aeromagnetic and radiometric survey over the Company's entire tenement package at its Quartz Circle Project near Nullagine in the East Pilbara, Western Australia. The survey, which is expected to be completed in mid November, will be flown at 50m line spacing with sensor height of 25m above terrain. The resulting high quality data is expected primarily to assist in target generation for continued base metal exploration, but will also be of valuable assistance in detailed geological mapping (including the identification of ultramafics which could contain nickel) and in the delineation of structures that might play a role in the economic concentration of gold.

Ron Thom Managing Director

DISCLAIMER

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves was compiled by R Thom, who is a Member of the AustMM. R Thom has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. R Thom, who is an employee of Graynic Metals, consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.