CORAZON MINING LIMITED — Capital/Financing Update 2009

May 14, 2009

ASX Release

15 May 2009

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Graynic Metals’ Cuba and Guatemala Nickel Joint Venture to Proceed

Final Joint Venture Agreement Negotiations Underway Exploration programs to commence in the near future

Australian exploration company Graynic Metals Limited (ASX: GYN) (Graynic) is pleased to provide the following update on the positive progress of its Farm‐In Agreement for nickel projects in Cuba and Guatemala with Canadian company Nichromet Extractions Inc (Nichromet).

Further to Graynic’s recent release to the market, on April 22, which advised that Nichromet was seeking to renegotiate the terms of the Farm‐in Agreement because it considered that certain Conditions Precedent of the Binding Term Sheet between the parties had not been met, Graynic can now advise that after discussions with Nichromet a successful resolution on the matter has been reached.

Discussions to conclude the joint venture agreement have recommenced and Graynic is confident that these negotiations can be finalised in the next few weeks, which will enable exploration programs at the projects to commence in the near future.

Graynic announced the Farm‐in agreement with Nichromet in March. The Farm‐in covers the Cajalbana Nickel Project in Cuba and the Sierra de Santa Cruz and Baja Verapaz Nickel Projects in Guatemala.

Graynic managing director Bronwyn Barnes said: “We are delighted to have achieved a positive outcome to discussions and negotiations with our partners, Nichromet, over the terms of the Farm‐in agreement and we now look forward to concluding the joint venture agreement documentation as quickly as possible. We are currently planning meetings with the relevant government officials in Cuba and Guatemala and look forward to commencing exploration programs at the Cuban and Guatemalan Nickel Projects.”

Graynic is of the view that the joint venture projects represent a major suite of potential nickel laterite development opportunities in two highly prospective nickel laterite country locations. The Farm‐in agreement is also in line with the Company’s strategic plan and project generation activities to target mid‐to‐advanced stage nickel laterite exploration projects in tier 1 regions.

ENDS

For further information please contact: Bronwyn Barnes James Moses Managing Director Media and Investor Relations Graynic Metals Mandate Corporate Ph: 08 6364 0518 M: 0420 991 574 E: bronwyn@graynicmetals.com.au E: James@mandatecorporate.com.au

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