Coro Announces Sale of Valley High Shares and Provides Funding Update
Monday, November 22, 2021 2:01 PM

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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/22/10 -- Coro Mining Corp. ("Coro" or the "Company") (TSX: COP) announces that it has disposed of 5,850,000 shares in Valley High Ventures Ltd ("Valley High") for gross proceeds of $6.4 million on the Pure Trading marketplace operated by CNSX Markets Inc. Subsequent to the disposition, Coro holds 3,290,353 shares (approximately 5.4% of the issued and outstanding shares of Valley High) and 1,525,000 warrants. Prior to the disposition, Coro held 9,140,353 shares and 1,525,000 warrants in Valley High which as of November 19, 2021 represented approximately 15.0% of the issued and outstanding shares of Valley High.

Alan Stephens, President and CEO of Coro commented, "This disposition is by no means a reflection on the potential we see in Valley High, which over the last twelve months has augmented its management team and continues to advance and enhance its exploration portfolio. As a shareholder, we will continue to follow its progress with interest. By selling part of our shareholding in Valley High, we have ensured that Coro's exploration and development projects are fully funded in the near term on a non-dilutive basis to our shareholders. We also plan to significantly increase our exploration efforts in Chile, focusing on the search for high quality copper and gold prospects."

The sale of the Valley High shares, combined with the potential proceeds (approx. $5.6m) from the outstanding in-the-money $0.20 warrants in Coro, which expire in January & February 2011, would provide a total of $12.0 million in financing for Coro. This will ensure that the Company is adequately funded to complete a pre-feasibility study and conduct additional drilling at its advanced San Jorge copper and gold project, located in the province of Mendoza, Argentina. It also gives Coro sufficient funds to continue to advance its exploration portfolio in Chile starting with the recently announced drill campaign at the Chacay copper porphyry project.

This news release is being issued pursuant to Part 3 of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the report filed by Coro in connection with the disposition of the common shares is available on Valley High's SEDAR profile, and it can also be obtained directly from Coro by contacting Michael Philpot, Executive Vice-President, at 604-682-5546.

CORO MINING CORP.

Alan Stephens, President and CEO

About Coro Mining Corp.:

The Company was founded with the goal of building a mining company focused on medium-sized base and precious metals deposits in Latin America. The Company intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production. Coro's properties include the advanced San Jorge copper-gold project, in Argentina, and the Chacay, Llancahue and Celeste copper exploration properties located in Chile. The Company also holds 3,290,353 shares (a 5.4% interest) in Valley High (www.valleyhighventures.com).

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.

Contacts:
Coro Mining Corp.
Michael Philpot
Executive Vice-President
(604) 682 5546
investor.info@coromining.com
www.coromining.com

(Source: Market Wire )
(Source: Quotemedia)
 

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