CORAZON MINING LIMITED — Regulatory Filings 2007

Feb 19, 2007

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

ASX ANNOUNCEMENT

THICK GOLD INTERSECTIONS BELOW IGLOO PROSPECT, QUARTZ CIRCLE

Highlights

• Thick gold intersections below copper deposit at Igloo including
• 16m @ 2.87 alt Au $\circ$
• 12m @ 13.1 g/t Au $\circ$
• More zinc hits at Emperor point to continuity of mineralisation
• Ground gravity survey about to commence over project area

IGLOO PROSPECT

Six RC drill holes have just been completed at this prospect for a total of 750m. Strong gold mineralization was encountered in several drill holes at depth below the known copper mineralization, and the best results are tabulated below.

Hole ID	Easting	Northing	Azim	Dip of	Depth	Width	Au	Ag
				hole		downhole	g/t	g/t
IG 20	208957	7601426	240	70	116-132m	16m	2.87	19
IG 21	208954	7601425	240	60	68-80m	12m	13.1
				(incl	72-76m	4m	29.9
IG 23	208930	7601451	240	60	$24 - 28m$	4m	6.1

The assayed samples are 4m composite samples and the mineralized intervals will be reassayed using 1m splits.

Exploration to date indicates that the Igloo Prospect consists of a near-surface chalcocite-native copper-malachite cap overlying a rich primary sulphide (chalcopyrite $+$ Au $+$ Ag) lens beneath which may be a significant gold-bearing structure.

Gold has been intersected at depth in previous holes in this vicinity and these earlier results are being reviewed. The Igloo mineralized system is being modeled using Vulcan software prior to commencing another drilling program to try to further extend the gold and copper mineralisation.

EMPEROR LEAD-ZINC PROSPECT

Six RC holes were drilled at Emperor to try to extend the known mineralization. Four of these holes intersected zinc mineralization at various depths from 68m to 250m as shown in the table below. The assayed samples are 4m composites and the mineralized intervals will be reassayed using 1m splits.

Hole ID	Easting	Northing	Azim	Dip.	Depth	Width downhole	Zn %
GM 42	209542	7601113	120	60	228-232m	4m	1.53
GM44	209672	7600936	015	60	68-72m	4m	1.4
GM 45	209732	7600932	015	60	156-164m	8m	1.16
GM 48	209254	7600025	015	70.	248-250m*	2m	1.75

*mineralization at end of hole

These results and 3D Vulcan modeling of the total drillhole data point to a continuity of zinc mineralization that has eluded previous explorers. Continued drilling is required to locate thicker and richer parts of the mineralized horizon now identified in this vicinity.

GROUND-BASED GRAVITY SURVEY

A gravity survey has been commissioned to seek the densest (thickest) part of the large mineralising system now becoming evident at Quartz Circle. The survey will commence on Wednesday and is expected to be completed within two weeks.

CORPORATE

Graynic has now received 2 million shares in Wolf Minerals Limited (WLF) as payment for the tin and tungsten rights within Exploration Licence 6424 'Yanco Glen' in NSW. Wolf listed on the ASX on 15 February 2007 at a significant premium and the WLF shares represent a substantial investment for Graynic.

Ron Thom Managing Director 20 February 2007

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 Ltd, consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.