CORAZON MINING LIMITED — Capital/Financing Update 2018

Jan 30, 2018

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ASX ANNOUNCEMENT 31 January 2018
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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 24 January 2018 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 226,000,000 securities were issued under the placement. A total of 122,071,667 shares are issued pursuant to Listing Rule 7.1 (representing 9.65% of the post-placement capital) and 103,928,333 shares were issued under the placement pursuant to Listing Rule 7.1A (representing 8.21% of the postplacement 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 – 82.14%

• pre-placement security holders who did participate in the placement – 9.14%

• participants in the placement who were not previously security holders – 8.72%

(b) Corazon considered the placement to institutional and 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.

(c) The placement was not underwritten.

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

Yours sincerely

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ROB ORR COMPANY SECRETARY

Level 1, 329 Hay St, Subiaco, W.A. 6008 | PO Box 8187, Subiaco East, W.A. 6008 | +61 (8) 6142 6366 | info@corazon,com.au | www.corazon.com.au | ASX: CZN

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