CORAZON MINING LIMITED — Capital/Financing Update 2013

May 26, 2013

ASX ANNOUNCEMENT

27 May 2013

==> picture [196 x 84] intentionally omitted <==

The Manager - Company’s Announcements

Australian Securities Exchange

DRILLING UNDERWAY AT TOP UP RISE PROJECT

Key points:

• Corazon has commenced drilling at its Top Up Rise Project in the Gibson Desert region of WA

• The first pass drilling programme is expected to be completed within 6 weeks

• Primary target is one of Australia’s largest untested residual gravity anomalies

• Multiple targets will be tested, including gravity anomalies, interpreted “altered” fault zones and radiometric anomalies

• Preliminary observations from the drilling will be provided to the market as the

programme progresses

• First assay results are currently expected in late June, 2013

• The Top Up Rise Project is prospective for Olympic Dam/ Prominent Hill style IOCG mineralisation

Corazon Mining Limited (ASX: CZN) (“Corazon” or “the Company”) is pleased to announce the commencement of its inaugural exploration drilling programme at the Top Up Rise Project (“TUR”) in Western Australia.

The first phase of drilling involves a low impact aircore drilling programme designed to test for basement, under what is believed to be shallow sand cover. The results of this drilling will determine the time-frame of the drilling programme and the priority ranking of targets for deeper reverse circulation and diamond core drilling.

Approximately six priority-one drill targets have been identified within the project area, along with five priority-two targets which are also of interest. Targets include a variety of geological and geophysical features such as gravity anomalies, interpreted “altered” fault zones and radiometric (uranium + potassium + thorium) anomalies.

Preliminary observations from the drilling will be released to the market as the programme progresses. First assays are currently expected to be reported in late June, 2013.

CAPITAL STRUCTURE		BOARD OF DIRECTORS	BOARD OF DIRECTORS		CONTACT US
Market cap. @ A$0.039	A$11.3M	Clive Jones	Non-executive Chairman		P: +61 (8) 6142 6366
Ordinary shares	290M	Brett Smith		Managing Director	M: PO Box 8187, Subiaco East WA 6008
Options	40.97M	Jonathan Downes		Director	E: info@corazon.com.au
ASX: CZN		Adrian Byass		Director	W: www.corazon.com.au

ASX ANNOUNCEMENT

27 May 2013

==> picture [196 x 84] intentionally omitted <==

Corazon is fully funded to conduct its planned exploration programmes at TUR and will receive a partial rebate on drilling costs as part of the Western Australian Government’s Environmental Incentive Scheme.

The Top Up Rise Project

The Top Up Rise Project is located in the Gibson Desert region of north-eastern Western Australia and is prospective for large iron-ore copper-gold (IOCG) intrusive related deposits, similar in style to Olympic Dam, Prominent Hill and Carapateena.

The primary target is an unexplored gravity anomaly, which represents one of the largest amplitude residual gravity anomalies in Australia. The core of the anomaly is 10 kilometres by 6 kilometres in area and has no coincident magnetic high, a common association with many IOCG deposits.

The closest outcrops (some 20 kilometres away) are anomalous in IOCG pathfinder minerals (including rare-earths, haematite, magnetite, copper, gold and uranium) and are adjacent to a large Proterozoic age intrusive alteration system with geochemical characteristics common to known world-class copper-gold deposits.

Ends.

For further information visit www.corazon.com.au or contact:

Brett Smith James Moses Managing Director Media and Investor Relations Corazon Mining Limited Mandate Corporate P: +61 (8) 6142 6366 M: +61 (0) 420 991 574 E: info@corazon.com.au E: james@mandatecorporate.com.au

Disclosure Statements and Important Information

Competent Persons Statement

The information in this report that relates to Exploration Results and Targets is based on information compiled by Mr Brett Smith, B.Sc Hons (Geol), Member AusIMM, Member AIG and an employee of Corazon Mining Limited. Mr Smith has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Smith consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

==> picture [199 x 8] intentionally omitted <==

==> picture [198 x 8] intentionally omitted <==

==> picture [198 x 8] intentionally omitted <==