Corazon Mining's capital raising proposal for Mt Gilmore exploration

Corazon Mining Limited (ASX: $CZN) has received firm commitments totaling up to approximately A$340,000 through a placement to sophisticated and professional investors. The company is also proposing to raise up to A$1,000,000 via a Share Purchase Plan (SPP) by providing existing shareholders with an opportunity to subscribe for shares in Corazon on the same terms as the Placement. The funds raised will enable Corazon to accelerate its exploration of the Mt Gilmore Project in NSW, commencing with the inaugural drilling of a high priority target for a large porphyry copper-gold deposit. Exploration permits for Mt Gilmore have been received from the NSW Government, and Corazon will now complete site access and preparation for drilling planned for July.

Chairman's perspective on the capital raising and exploration plans

I would like to thank new and existing shareholders for their interest in investing in the exploration of the Company's projects. This funding allows us to accelerate our plans to undertake a maiden drilling program at the exciting May Queen porphyry copper-gold target at the Mt Gilmore Project.

Summary of Corazon Mining's announcement and outlook

Corazon Mining (ASX: $CZN) has successfully secured firm commitments for a placement and proposed a Share Purchase Plan to raise funds for accelerating exploration activities at the Mt Gilmore Project in NSW. The company aims to commence drilling at the May Queen porphyry copper-gold target and has received exploration permits from the NSW Government. Additionally, ongoing mining and metallurgical testwork programs are progressing at the Lynn Lake Mining Centre in Manitoba, Canada, with the goal of defining the value of a nickel-copper-cobalt mining opportunity. Furthermore, the divestment of an 85% interest in the lithium and industrial minerals rights for the Miriam Project in Western Australia has provided initial cash and future participation rights for Corazon. The company's outlook includes the completion of drilling approvals at Miriam and the continuation of exploration activities at Lynn Lake. Corazon's strategic focus on accelerating exploration and development activities demonstrates its commitment to advancing its projects and creating value for its shareholders.