CORAZON MINING LIMITED — Capital/Financing Update 2020

Jul 9, 2020

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10 July 2020

The Manager Company Announcements Office Australian Securities Exchange Limited

CORAZON MINING LIMITED

Placement of Shares and Notice under Section 708A(5)(e)

Corazon Mining Limited (ACN 112 898 825) ( Company ) is pleased to announce the issue of 356,984,000 fully paid ordinary shares in the Company ( Shares ) at an issue price of $0.002 per Share to sophisticated and professional investors who participated in the placement announced by the Company on 1 July 2020 ( Placement ). The Shares were issued pursuant to the Company’s placement capacity under ASX Listing Rule 7.1.

Participants in the Placement will also be issued one (1) free attaching option for every Share subscribed for and issued under the Placement, exercisable at $0.0035 each and will have an expiry date of 30 June 2021, subject to shareholder approval.

In addition, the Company has issued 4,500,000 Shares to the vendors of the Dunlop project area upon exercise of the Company's option to acquire a 100% interest in the project and the transfer of tenements. These Shares were also issued pursuant to the Company’s placement capacity under ASX Listing Rule 7.1.

Corazon gives notice pursuant to section 708A(5)(e) of the Corporations Act 2001 ( the Act ) that:

• a) the Company issued 361,484,000 Shares;

• b) the Shares were issued without disclosure to investors under Part 6D.2 of the Act;

• c) as at the date of this notice, the Company has complied with:

  • i) the provisions of Chapter 2M of the Act as they apply to the Company; and

  • ii) section 674 of the Act; and

• d) as at the date of this notice, there is no information to be disclosed which is excluded information (as defined in section 708A(7) of the Act) that is reasonable for investors and their professional advisers to expect to find in a disclosure document.

This announcement has been authorised for release by the Board of Corazon Mining Limited.

Yours faithfully

Robert Orr Company Secretary Corazon Mining Limited

Level 3, 33 Ord St, West Perth, W.A. 6005 | PO Box 8187, Subiaco East, W.A. 6008 Ph: +61 (8) 6142 6366 | info@corazon.com.au | www.corazon.com.au | ASX: CZN

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