CORAZON MINING LIMITED — Director's Dealing 2006

Jul 23, 2006

Level 2, 22 Oxford Close WEST LEEDERVILLE WA 6872 T: +61 8 9381 1436 F: +61 8 9381 1068 PO Bos 1681 WEST PERTIL WA 6872 www.graysicmerals.com.au

ASX RELEASE

24 July 2006

ISSUE OF DIRECTORS OPTIONS

The Directors of Graynic Metals Limited are pleased to announce that they have resolved to issue Mr Ron Thom 1,000,000 options exercisable at \$0.30 on or before 31 July 2009 subject to approval by members at the Annual General Meeting.

Mr Thom's continued hard work and dedication to the Company has paved the way for an exciting future. Accordingly the Company would like to offer the options as an incentive for Mr Thom to continue with the Company in the future.

Nathan McMahon Non-Executive Director