Coro Completes Infill Drilling at Berta and Initiates Drilling at El Inca

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 22, 2012) - Coro Mining Corp. ("Coro" or the "Company") (TSX:COP) is pleased to announce that it has completed a 36 hole 4,030m reverse circulation ("RC") infill drilling program at its Berta oxide copper project located approximately 20km west of the village of Inca de Oro, in the III Region of Chile. Assay results will be announced in due course.

Coro also has initiated an estimated 10 hole, 3,500m, wide spaced, RC drill program to test its recently acquired El Inca project. As described in the Company's news release dated August 14^th 2012, the El Inca property includes a 2km x 2km, gravel covered area which may host a major porphyry copper-gold deposit similar to the PanAust/Codelco Inca de Oro project, located approximately 2km to the southwest. The location of Berta and El Inca is shown on Figure 1.

Alan Stephens, President and CEO of Coro commented, "Once the results of the Berta drill program are to hand, we will complete a resource estimate, which together with the results from the initial metallurgical testwork that is in progress, will enable us to produce a Preliminary Economic Assessment for the project. We are excited to be drilling El Inca so quickly after acquiring it, and look forward to receiving assay results from this scouting program."

Sergio Rivera, Vice President of Exploration, Coro Mining Corp, a geologist with more than 30 years of experience and a member of the Colegio de Geologos de Chile and of the Instituto de Ingenieros de Minas de Chile, is responsible for the design and execution of the Berta and El Inca exploration programs and is the Qualified Person for the purposes of NI 43-101. Alan Stephens, FIMMM, President and CEO, of Coro Mining Corp, a geologist with more than 36 years of experience, and a Qualified Person for the purposes of NI 43-101, is responsible for the contents of this news release.

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 Berta, Chacay, El Desesperado, El Inca, Llancahue, and Celeste copper exploration properties located in Chile.

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 resource estimation, metallurgical testwork, preliminary economic assessments and drilling programs 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.

To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/COP0822.pdf