CORAZON MINING LIMITED — Regulatory Filings 2005

Nov 8, 2005

Level 3, 22 Oxford Close WEST LEEDERVILLS WA 6872 T: +61 8 9381 1436 F: +61 8 9381 1068 PO Bos 1681 WEST PERTH WA 6872 www.graysicmerais.com.au

ASX release 9 November 2005

JUTSON ROCKS PROJECT EXPANDED

• Additional 10km of greenstone belt applied for $\bullet$
• Large Platinum Group Elements (PGE) anomalies now fully controlled

The Company has applied for exploration licence E38/1840 'Mt Cornell' immediately to the north of the Company's two existing granted exploration licences E38/1540 and E38/1541. This new application, when granted, will give the Company an additional 10km strike length of the highly-prospective and under-explored belt Jutson Rocks greenstone belt.

Importantly, two extensive Cu and Platinum Group Element (PGE) geochemical anomalies which only partly occur within E38/1540 at its northern edge, are now completely within the Company's project area.

The Mt Cornell PGE anomaly was defined by previous explorers by soil sampling and vacuum drilling. The anomaly, which occurs within the gabbroic portion of the ultramafic Mt Cornell Sill, lies entirely within E 38/1540 and E38/1840 and is now controlled by the Company

The new tenement also adds another 400m of the Mt Warren PGE anomaly to the 1500m already held. This PGE anomaly, also discovered by previous explorers through soil sampling and vacuum drilling and is hosted within a 25m wide stratigraphic horizon within the gabbroic portion of the Mt Warren ultramafic sill. Follow-up rock chip channel sampling by previous explorers returned anomalous assays over a strike of more than 2km along the eastern flank of the Mt Warren sill. This zone lies entirely within the new exploration licence. The best channel sample result within this zone was 226ppb Pt+Pd over a 1m interval. An anomalous (ie 2-3 times background) copper horizon occurs approximately 50m stratigraphically above the PGE horizon at the contact between the magnetic gabbro and the non-magnetic gabbro.

In light of the exciting Cu-Ni-PGE results announced by the BHPB-Falcon Minerals joint venture at Collurabbie, the Company regards this new tenement application as an important addition to its Jutson Rocks project.

The Company has commenced negotiations for access to Jutson Rocks through the Traditional Owners so that exploration can commence early in 2006.

The results of an aeromagnetic survey at the Quartz Circle base metals project are expected in early December whilst a due diligence review of an additional Australian project is currently being undertaken.

Yours faithfully

Ron Tom Managing Director

DISCLAIMER

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves was compiled by R Thom, who is a Member of the AusIMM. R Thom has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. R Thom, who is an employee of Graynic Metals, consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.