Corazon Mining Limited announced the final core assay results from its recently completed maiden reverse circulation (RC) and core drilling program at the Cobalt Ridge prospect, Mt Gilmore Cobalt-Copper-Gold Project ("Project") in north-eastern New South Wales. Cobalt Intercept calculation parameters: Greater than or equal to 0.3m down hole thickness, greater than or equal to 0.05% Co, greater than or equal to 0.05% Co cut-off and less than or equal to 3m internal dilution. Gold values at lower detection limit <0.01ppm are attributed a value of 0.005ppm for interval calculations. Copper equivalents: The composited value of the cobalt-copper-gold mineralisation is presented as percentage copper equivalents (CuEq%). These metals have been historically extracted from small scale mining at Mt Gilmore and it is the Company's belief that the cobalt, copper and gold is recoverable. Metallurgical test work currently underway is expected to underpin these assumptions. CuEq% = Cu%+(Co%*5.89)+(Au_ppm*0.679). Metal prices used are Cu USD 5,642/t, Co USD 33,249/t and Au USD 1,191.86/oz (reference infomine.com spot prices quoted on 12-01-2017). RC and core drilling assay results have validated the company's assessment of Cobalt Ridge as a unique, high-grade cobalt-dominant deposit with the potential to deliver valuable, discrete high-grade zones of cobalt, within broader moderate grade mineralisation. The main cobalt lode has been drilled over a strike of about 200 metres, to a depth of 140 metres below surface. The mineralisation is open to the west, where it is coincident with soil geochemical anomalism and small-scale historical workings targeting copper mineralisation. The main cobalt lode mineralisation is typically about 16 metres in down-hole width (8 metres true width), with intersections up to 37 metres down-hole. Average cobalt grades for these intervals within the drilling completed by Corazon are between 0.23% and 0.65% cobalt. Multiple higher-grade zones of up to 1.48% cobalt exist, at between one and seven metres down hole widths. Best individual one metre assay from this drilling is 2.79% cobalt. Corazon's maiden drill program at Mt Gilmore has been designed to confirm the continuity, position and extent of the cobalt-copper-gold mineralisation within the Cobalt Ridge prospect area, which has been identified by previous drilling. Corazon's drilling has validated historical mining and exploration results and has confirmed the presence of multiple zones of sulphide mineralisation over a strike length of at least 300 metres. The mineralisation remains open along strike and at depth. Between October and December 2016 Corazon completed 18 RC holes at Cobalt Ridge, three of these holes were extended with core tails. In total 2,070 metres of RC and 261.10 metres of core was completed. Geological interpretation of the drill core and RC assay results has resulted in a fuller understanding of the mineralisation at Cobalt Ridge. As evidenced in the diamond core, the mineralized system displays intense pervasive alteration and sulphide filled tourmaline brecciation indicative of a larger cobalt-copper-gold system. This alteration is observed on surface at Cobalt Ridge and other prospects within the greater Mt Gilmore region. Three priority target areas have been defined at Cobalt Ridge. None of these targets have been tested with modern exploration and it is proposed that surface geochemistry and geophysics will provide a good first-pass test. Cobalt Ridge West ­ The best result from drilling by Corazon at Cobalt Ridge is the western-most hole, MGRC002. This mineralisation plunges to the west-northwest, coincident with the intersection of structures and lithologies. Additional (undrilled) structures have been identified at surface, which have the potential to generate high-grade mineralisation. The target is supported by anomalous soil geochemistry and abundant sub-cropping quartz- tourmaline-limonite breccia (Cobalt Ridge host rock). Flintoff's ­ This target sits immediately to the north of Cobalt Ridge and is centred on late 1,800's copper workings. These workings exhibit the same trend and host material as at Cobalt Ridge, but are substantially larger. The edge of the Cobalt Ridge soil sampling survey just touches on this trend, returning strong anomalism. Cobalt Ridge East ­ The target is situated at the intersection of the Cobalt Ridge and Flintoff's trends, under the cover of thin sediments. The Mt Gilmore Project is located 35 kilometres from the major centre of Grafton in north-eastern New South Wales. Corazon owns a 51% interest in Mt Gilmore and has an exclusive right to earn up to an 80% interest in the Project. The Project is located in the New England Orogen, a significant mineral province in Eastern Australia with a gold endowment of more the 35M ounces and the potential to host large copper-gold systems. This region hosts deposits such as the Mount Morgan Cu-Au Mine (+50Mt @ 5.9 g/t Au and 0.7% Cu) and Mt Rawdon Gold Mine (50Mt @ 0.71 g/t Au).