MARI Marimaca Copper Corp

Coro Mining Corp. ("Coro" or the "Company") (TSX:COP) is pleased to announce
that it has entered into an option agreement to acquire the El Desesperado
Property from a local Chilean company. The 698 hectare property hosts porphyry
copper style mineralization and is located approximately 7km northwest of the
city of Calama, and 16km southwest of the world famous Chuquicamata copper mine,
in the II Region of Chile, at an elevation of 2,500m (Figure 1:
http://file.marketwire.com/release/COPFig1.pdf). The Toki Cluster porphyry
copper deposits currently being evaluated by Codelco, are located immediately to
the east of the property. They comprise the major Toki, Quetena, Genoveva and
Opache centers of porphyry copper mineralization, each containing several
hundred million tonnes of copper oxide resources, grading 0.4-0.5%Cu, and
entirely covered by gravels.


In December 2011, Codelco initiated the permitting process for production of
cathode copper from the combined Quetena and Genoveva deposits. According to the
publicly available Environmental Impact Study, this will involve an open pit at
each of the deposits, the trucking of 30,000tpd of higher grade ore to the
existing SXEW facilities at Chuquicamata, and 60,000tpd of Run of Mine dump
leaching at the project site, followed by pumping of solution to Chuquicamata.
Planned production is 528,000 tonnes of cathode copper over the 10 year life of
the project, with an average production of 62,000 tpy Cu in the first five
years. Capital investment is estimated to be US$244,000,000.


The Genoveva planned open pit rim is located approximately 1km to the east of
the El Desesperado property, while the Opache deposit is located approximately
2km to the east-southeast (Figure 2:
http://media3.marketwire.com/docs/COPFig2.pdf).


Alan Stephens, President and CEO of Coro, commented, "We are very pleased to
have acquired the El Desesperado property. We believe that it has significant
potential for the discovery of a new member of the Toki Cluster deposits, and we
intend to complete surface exploration and a drilling program to confirm this.
El Desesperado is the latest project in our Chilean porphyry copper exploration
portfolio, which consists of the Berta project, where we expect to initiate a
second drilling campaign shortly; the Chacay project, where we have a identified
a significant chalcocite enrichment blanket; and Llancahue, where we plan
additional drilling later this year. Together with San Jorge in Argentina, Coro
is now evaluating five porphyry copper deposits, and we expect to add to this
total in 2012."


El Desesperado Option Terms

Coro may acquire 100% of the El Desesperado property for a total of
US$13,000,000 by making the following staged option payments; 




On signing: US$200,000 (paid)
12 months from signing: US$500,000
24 months from signing: US$1,300,000
36 months from signing: US$3,000,000
48 months from signing: US$8,000,000



In addition, a 1.9% sales royalty is payable on any production from the
property, over which Coro has a first right of refusal.


About El Desesperado

Based on outcropping alteration, lithologies and copper oxides, Coro believes
there is good potential in the untested northern part of the El Desesperado
property to host significant mineralization of similar style to the adjacent
Genoveva and Quetena deposits. These are associated with swarms of NNE oriented
Eocene porphyry dykes and stocks, intruded into both Paleozoic volcanics and
precursor Tertiary plutons. Zones of low grade copper mineralization associated
with potassic alteration are related to the porphyries and higher copper grades
occur where this has been overprinted by sericite alteration, or where later
veining is present. The Toki Cluster deposits have been oxidized to depths in
excess of 100m beneath the gravel cover and host major copper oxide resources,
as well as significant underlying primary sulphide mineralization.

Small scale open pit mining and vat leaching of copper oxide bearing breccias,
took place at the Quetena Mine on the property during the 1960-70's, and it was
subsequently explored by two major mining companies, firstly in 1997-98 prior to
the discovery of the Toki Cluster; and secondly in 2004. The first company
completed wide spaced reverse circulation and diamond drilling (11 holes,
2,582m), mostly aimed at testing geophysical targets, while the second company
completed vertical reverse circulation drilling (2 holes, 700m) which tested two
conceptual targets. In neither case, was significant mineralization intersected;
however, none of the previous drilling was completed in the highly prospective
northern part of the property.


As of December 31, 2011 the Company had approximately CA$12 million in cash, and
is well funded to advance its projects.


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 porphyry
copper properties include the Berta, Chacay, Llancahue, and Celeste exploration
projects located in Chile and the advanced San Jorge porphyry copper-gold
project, in Argentina.


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.

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