CORAZON MINING LIMITED — Capital/Financing Update 2016

Jun 19, 2016

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20 June 2016

Sebastian Bednarczyk Australian Securities Exchange Limited Level 40, Central Park, 152-158 St Georges Terrace PERTH WA 6000

Dear Sebastian

CORAZON MINING LIMITED -INFORMATION DISCLOSED UNDER ASX LR 3.10.5A AND 7.1A.4(B)

Further to the ASX announcement lodged by Corazon Mining Limited (“Corazon”) on 16 June 2016 regarding a placement.

Corazon provides the following information under ASX Listing Rule 3.10.5A:

• (a) Details of the dilution to the existing holders of ordinary securities caused by the issue is as follows:

A total of 85,409,040 were issued under the placement. A total of 41,245,421 shares are issued pursuant to Listing Rule 7.1 (representing 7.83% of the post-placement capital) and 44,163,619 shares were issued under the Placement pursuant to Listing Rule 7.1A (representing 8.38% of the post-placement capital).

The percentage of the post-placement capital held (in aggregate) is as follows:

• pre-placement security holders who did not participate in the placement – 83.8%

• pre-placement security holders who did participate in the placement – 6.82%

• participants in the placement who were not previously security holders – 9.38%

(b) Corazon considered the placement to sophisticated investors was in this instance the most efficient and expedient method for raising the funds required given the funding certainty. The Company considered that the required time frame to make either a pro rata or other type of offer to existing shareholders was not aligned to the Company’s funding requirements.

Level 1 PO Box 8187 329 Hay Street Subiaco East WA Subiaco 6008 6008 Western Australia T: +61 8 6142 6366 F: +61 8 6210 1872 admin@corazon.com.au

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(c) The placement was not underwritten.

• (d) A 6% commission was incurred by Corazon in connection with the placement.

Yours sincerely

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ROB ORR COMPANY SECRETARY

Level 1 329 Hay Street Subiaco 6008 Western Australia

PO Box 8187 Subiaco East WA 6008 T: +61 8 6142 6366 F: +61 8 6210 1872 admin@corazon.com.au