CORAZON MINING LIMITED — Remuneration Information 2007

Jul 11, 2007

Suite 5 Level 1, 350 Hay Street, Subiaco WA 6008 ACN : 112 898 825 PO Box 1681 West Perth WA 6872

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P: (08) 6364 0518 F: (08) 6210 1876

12 July 2007

The Manager Company Announcement Office Australian Stock Exchange Limited

REMUNERATION OF MANAGING DIRECTOR

Further to the announcement on 10 July 2007, the Board today confirms the remuneration of Ms Bronwyn Barnes, Managing Director of Graynic Metals Limited (‘Graynic’ or ‘Company’).

In order to secure the services of Ms Barnes and to provide an incentive moving forwards, Ms Barnes will receive a salary of $180,000 plus superannuation. Ms Barnes will also be granted the following options subject to the necessary approvals:

• 2,000,000 options exercisable at $0.30, exercisable within twenty four (24) months of the issue date. Escrowed for twelve (12) months.

• 1,000,000 options exercisable at $0.45, exercisable after twelve (12) months from the issue date and before the expiry of thirty six (36) months from the issue date. Escrowed for twenty four (24) months.

• 1,000,000 options exercisable at $0.65, exercisable after twenty four (24) months of the issue date and within forty eight (48) months of the issue date. Escrowed for thirty six (36) months.

Enquiries: Mr Ivan Hoffman Non-Executive Chairman

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