CORAZON MINING LIMITED — Capital/Financing Update 2006

Aug 31, 2006

Level 2, 22 Oxford Close WEST LEEDERVILLE WA 6872 F: +61 8 9384 1436 F: +61 8 9381 1068 PO 80x 1681 WEST PERTH WA 6872 www.graynicmetals.com.su

ASX Release

1 September 2006

Notice under Section 708A

Graynic Metals Limited (Company) issued 3,235,294 shares to various parties on 1 September 2006, being the Private Placement to Major Investors. The securities are part of a class of securities quoted on the Australian Stock Exchange Limited (ASX).

The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act.

The shares were issued without disclosure to various parties under Part 6D.2, in reliance on Section 708A(5) of the Corporations Act.

The Company, as at the date of this notice, has complied with:

• the provisions of Chapter 2M of the Corporations Act; and a)
• b) Section 674 of the Corporations Act.

There is no excluded information as at the date of this notice, for the purposes of Sections 708A(7) and (8) of the Corporations Act.

Yours faithfully

Kent Hunter