CORAZON MINING LIMITED — Capital/Financing Update 2013

Feb 27, 2013

ASX ANNOUNCEMENT

28 February 2013

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The Manager - Company’s Announcements Australian Securities Exchange

CORAZON FULLY FUNDED FOR HIGH IMPACT EXPLORATION WITH OVER $3.5 MILLION

Corazon Mining Ltd ASX: CZN

IOCG Exploration to Commence in March, Drilling in April/May

Capital Structure

M.Cap @ 2.6cps $4.55 M Ordinary Shares 175 M Options 81.5 M

• Corazon completes $3M raise; including

• Placement for $1.5M

• Share Purchase Plan (SPP) for $600,000

• Placement of SPP shortfall for $900,000

Board of Directors

Clive Jones

Non-Executive Chairman

Brett Smith Managing Director

• Company fully funded to test large IOCG geophysical target at Top Up Rise (TUR) in Western Australia

• TUR work programs to commence in March via detailed ground geophysics

• Drilling planned for April/ May, 2013

Jonathan Downes Non-Executive Director

Adrian Byass Non-Executive Director

Rob Orr Company Secretary

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Corazon Mining Limited (ASX: CZN) (“Corazon” or “the Company”) is pleased to advise its Share Purchase Plan (“SPP”), which closed on Friday 22 February 2013, raised approximately $600,000 from existing shareholders. Due to very strong interest from a number of investors, Corazon has resolved to place the shortfall from the SPP of approximately $900,000 (“Shortfall Placement”).

The funds raised from the recent placement, the SPP and the Shortfall Placement ensure Corazon is fully funded for its upcoming high impact drilling program at the Top Up Rise Project (“TUR”) in Western Australia.

In relation to the success of the SPP and the Shortfall Placement, Corazon’s Managing Director, Mr Brett Smith, commented: “It was encouraging to receive such strong support from existing Corazon shareholders for the SPP, and such strong

Contact Us

Brett Smith Ph: +61 (8) 6142 6366

James Moses Media & Investor Relations Ph: +61 (0) 420 991 574

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

28 February 2013

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demand from a number of investors for the Shortfall Placement. It is an excellent validation of the potential of our projects.”

“We are now fully funded for the first phase of exploration at the TUR Project, where the targeted model is a large copper-gold deposit and we are keen to get on the ground and test this very significant anomaly. Ground exploration at the TUR Project will commence in March, with drill testing in April/ May 2013.”

With over $3.5 million in cash, investments and receivables available for exploration, Corazon has the capacity to also advance and add value to its Canadian projects. These projects include a prospective development opportunity at the Lynn Lake nickel-copper sulphide project; and exploration potential at the Beaucage Lake Gold Project, where high grade gold mineralisation has been identified in outcrop over 7 to 8 kilometres of strike.

The Shortfall Placement will be completed in a single tranche pursuant to shareholder approval that has been received, and is expected to settle on Friday 8 March.

Leading Australian financial services firm and Corazon’s corporate advisor, Hartleys Limited, is the Broker to the Offer.

Background

On 21 January, 2013, the Company announced its intent to raise up to approximately $3 million to fund the next phase of exploration at it projects in Australia and Canada. Funds to be raised included:

• A two tranche placement of up to approximately 68.2 million shares at an issue price of 2.2 cents per share to raise up to $1.5 million (“Placement”);

• A Share Purchase Plan for eligible shareholders at the same price as the Placement, capped at $1.5 million (“SPP”).

On 27 February, 2013, Corazon shareholders voted overwhelmingly in favour of issuing the second tranche of the Placement and for the Board to place any shortfall in the SPP to sophisticated investors (Shortfall Placement).

Following completion of the SPP and Shortfall Placement, the full $3 million will have been raised.

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

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