CORAZON MINING LIMITED — Capital/Financing Update 2017

Feb 26, 2017

Announcement

27 February 2017

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CZN closes Share Purchase Plan Drilling set to continue at the Lynn Lake Project

• SPP successfully completed to raise approximately $3 million

• SPP closed early due to strong shareholder take up

• Funding to provide capacity to continue to drill the Company’s large and compelling nickel-copper-cobalt targets at the Lynn Lake Project in Canada

• Exploration effort also to continue at the Mt Gilmore – Cobalt Ridge prospect in New South Wales

Corazon Mining Limited (ASX: CZN) (“Corazon” or “the Company”), is pleased to announce it has closed the Share Purchase Plan (SPP) to raise approximately $3 million at an issue price of $0.035 per share. The SPP has been over-subscribed and as advised the Company reserved the right to close the offer early and scale back applications to the required total of approximately $3 million.

The strong demand for the SPP, which allowed the offer to be closed early, reflects the significant market interest in the Company’s drill program at the Fraser Lake Complex, within the Lynn Lake Nickel-Copper-Cobalt Project in Canada.

The proceeds of the SPP will be used primarily for exploration activities at Corazon’s Lynn Lake Project in Canada and the Mt Gilmore Cobalt-Copper-Gold Project in New South Wales, as well as for general working capital purposes.

Phase 1 Drill Programme Complete

Corazon has completed its Phase 1 Drilling programme at Lynn Lake Nickel-Copper-Cobalt Project in Canada. This programme comprised five (5) holes for approximately 1,600 metres of core drilling, testing high priority geophysical anomalies within the Fraser Lake intrusive Complex. An update on the status of the drilling programme has been provided in the Company’s ASX releases dated 6th and 13th of February 2017. Initial assay results from the drilling are expected shortly.

Phase 2 Drill Programme

With the completion of the SPP, the Company is now undertaking preparation of Phase 2 drilling.

END .

For further information visit www.corazon.com.au or contact:

Brett Smith	James Moses
Managing Director	Media and Investor Relations
Corazon Mining Limited	Mandate Corporate
P: +61 (8) 6142 6366	M: +61 (0) 420 991 574
E:info@corazon.com.au	E: james@mandatecorporate.com.au

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Important Information

Competent Persons Statement :

The information in this report that relates to Exploration Results and Targets is based on information compiled by Mr Brett Smith, B.Sc Hons (Geol), Member AusIMM, Member AIG and an employee of Corazon Mining Limited. Mr Smith has sufficient experience that 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 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Smith consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

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