CORAZON MINING LIMITED — Capital/Financing Update 2007

Sep 19, 2007

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20 September 2007

The Manager Company Announcement Office Australian Stock Exchange Limited

Appointment of Option Underwriter and Placement

Graynic Metals Limited (“Graynic” ASX: GYN) is pleased to announce that it has appointed Indian Ocean Capital Pty Ltd to underwrite Graynic’s $0.20 (20 cent) options that expire on 31 October 2007. Graynic has 12,219,643 options on issue, which will deliver approximately $2.4 million in working capital to Graynic.

In addition, Graynic has reached agreement with Indian Ocean Capital Pty Ltd and other sophisticated investors for the placement of an additional three million (3 million) shares at $0.20 (20 cents) to Indian Ocean Capital Pty Ltd for a total sum of $600,000.

Graynic welcomes the support of Indian Ocean Capital as it looks to secure sufficient capital to progress Graynic’s current exploration and drilling programmes in WA and NSW. In particular, Graynic is currently focusing on soil sampling programmes at Copper Ridge, NSW and drilling programmes for its projects at Quartz Circle, WA and Gulf Creek, NSW. Results from these programmes will be announced in late 2007 and early 2008.

Enquiries: Bronwyn Barnes Managing Director 08 6364 0518 0417 093 256

About Graynic Metals Limited

Graynic Metals Ltd is committed to increasing shareholder wealth through the acquisition, exploration and development of base metal mineral resources throughout Australia. The Company has key project areas in Western Australia and New South Wales within mineral provinces that have demonstrated copper, lead, zinc, nickel and gold mineralisation.

Current exploration targets include locating additional high grade resources adjacent to existing resources, testing of historic workings, drill testing of significant surface geochemical anomalies and the drilling of obvious strike and depth extensions of existing anomalous drilling intersections. Each project area has a significant land position which allows for further growth opportunities should exploration be successful.

Graynic Metals Limited ACN : 112 898 825

Suite 5, Level 1, 350 Hay St, Subiaco, Western Australia, 6008. PO Box 935, West Perth, WA, 6872 Phone: 08 6364 0518 Fax: 08 6210 1872