CORAZON MINING LIMITED — Capital/Financing Update 2009

Oct 1, 2009

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2 October 2009

The Manager Company Announcement Office Australian Securities Exchange

KOONENBERRY COPPER PROJECT: EXPLORATION FARM‐IN

Graynic Metals Limited (Graynic) is pleased to announce that it has entered into an agreement with Great Western Minerals Limited (GWM) over Graynic’s Koonenberry Exploration Licence 6424 in New South Wales.

The project covers historic copper, lead and tin mines. Located in western New South Wales, the Koonenberry Shear Zone hosts copper mineralization to the eastern part of the project area and there is potential for further lead, zinc, silver and potentially copper mineralization in the central portions concealed under alluvial cover (Figure 1). The potential to host further mineralization within the Nutherungie lead‐silver field, a site of historic mining, has not been properly explored with modern techniques.

Graynic believes GWM is well positioned and experienced in this region, and feels that the exploration work by GWM will add value to shareholders of both companies. The key terms of the Heads of Agreement are;

• (a) The agreement provides that GWM has the right to earn a 51% interest in the tenement by an expenditure of $500,000 on it over a two year period.

• (b) Thereafter GWM may elect to increase its interest therein to75% by further expenditure of $500,000 over a further two year period.

• (c) GWM will be the tenement manager for the first two years and thereafter an operating committee with voting rights based on the then proportionate interests in the tenement will be formed.

• (d) The agreement also contains the usual provisions regarding failure to meet obligations and the usual warranties regarding the tenement, keeping it in good standing and dilution of Graynic to a net smelter royalty after GWM has earned a 90% interest.

For further information, contact; Adrian Byass Managing Director, Graynic Metals Limited T + 61 (8) 6364 0518 E abyass@graynicmetals.com.au W www.graynicmetals.com.au

Level 1 PO Box 935 350 Hay Street West Perth WA 6872 Subiaco 6008 T: +61 8 6364 0518 Perth, Western Australia F: + 61 8 6210 1872 admin@graynicmetals.com.au www.graynicmetals.com.au

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Figure 1: Prospects within Exploration License 6424 shown over TMI magnetics.