CORAZON MINING LIMITED — Capital/Financing Update 2011

Feb 21, 2011

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22 February 2011

The Manager Company Announcements Office ASX Limited

CORAZON MINING LIMITED

Shareholder Share Purchase Plan

On 25 January 2011, Corazon Mining Limited ( Corazon or Company ) announced to eligible shareholders the opportunity to participate in a Shareholder Share Purchase Plan ( Plan ) to acquire additional Shares at 10 cents per Share.

The Plan closed with acceptances totaling $734,000.

The Plan shortfall is fully underwritten by Barclay Wells Limited and will raise, subject to shareholder approval, in total $2.3M for the exploration of the Lynn Lake Nickel Sulphide Project in Canada. Exploration programs including drilling and geophysics are currently underway.

Yours faithfully

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ROB ORR

COMPANY SECRETARY

Corazon Mining 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