CORAZON MINING LIMITED — Capital/Financing Update 2013

Mar 20, 2013

ASX ANNOUNCEMENT 21 March 2013

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The Manager - Company’s Announcements Australian Securities Exchange

EXPLORATION COMMENCES AT TOP UP RISE IOCG PROJECT

Corazon Mining Ltd ASX: CZN

Key Points

• Corazon has commenced exploration at the Top Up Rise IOCG Project in the Gibson Desert region of WA.

Capital Structure

M.Cap @ 2.7cps $7.84 M Ordinary Shares 290 M Options 81.5 M

• Ground gravity survey has commenced at the project and is expected to be completed in around 3 weeks.

Board of Directors

• Results from the survey are expected within a month and will assist in more detailed drill targeting.

• Drilling at the TUR Project is on schedule for April/May 2013.

Clive Jones

Non-Executive Chairman

Brett Smith Managing Director

Jonathan Downes Non-Executive Director

• The TUR Project is prospective for Olympic Dam/Prominent Hill style IOCG mineralisation

Adrian Byass Non-Executive Director

Rob Orr Company Secretary

• Primary target is one of the largest untested residual gravity anomalies in Australia, similar in size to the Olympic Dam geophysical anomaly

Contact Us

Corazon Mining Limited (ASX: CZN) (“Corazon” or “the Company”) is pleased to advise that exploration has commenced at its Top Up Rise Project (“TUR”) in Western Australia.

Geophysical contractors Atlas Geophysics have been engaged to conduct a highresolution ground gravity survey over the TUR gravity anomaly. The gravity survey is expected to be completed in approximately three weeks, and the final results expected within a month.

Email: info@corazon.com.au

Brett Smith Managing Director Ph: +61 (8) 6142 6366

James Moses Media & Investor Relations Ph: +61 420 991 574

The detailed results will be used to assist in better defining drill targets. Corazon remains on schedule to commence drilling at the TUR Project in April-May 2013.

In total 1,850 gravity stations are proposed in the gravity survey, with station spacing on a 400 by 100 metre and 800 by 200 metre pattern. The area covered by the survey is approximately 20 kilometres by 8 kilometres.

The gravity anomaly at the TUR Project was originally defined by a regional geophysics program conducted by the Geological Survey of Western Australia in 2006.

Corazon is fully funded to conduct its planned exploration programs at TUR.

Level 1, 350 Hay Street, Subiaco, WA 6008 | PO BOX 8187, Subiaco East, WA 6008 | info@corazon.com.au | www.corazon.com.au

ASX ANNOUNCEMENT

21 March 2013

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The Top Up Rise Project

The TUR Project is located in the Gibson Desert region of north-eastern Western Australia and is prospective for large gold-copper 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 8 kilometres by 4 kilometres in area, similar in size to the Olympic Dam geophysical anomaly.

The TUR gravity anomaly 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.

Corazon has the right to earn up to 75% equity interest in Border Exploration Pty Ltd, owners of 100% equity in the TUR Project.

Ends

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

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Photo:- Taking gravity reading at Top Up Rise Project

Level 1, 350 Hay Street, Subiaco, WA 6008 | PO BOX 8187, Subiaco East, WA 6008 | info@corazon.com.au | www.corazon.com.au