Coro Mining Corp : Coro Provides Update On Projects

	January 12, 2012 Coro Provides Update On Projects
	January 12, 2012, Coro Mining Corp. ("Coro" or the "Company") (TSX Symbol: COP) is pleased to provide an update on its projects in Chile and Argentina, and progress on the identification and acquisition of new opportunities. San Jorge Project As stated in our news release of August 27th, 2011, Coro has been reviewing its alternatives for seeking legal redress and compensation from the Mendoza government resulting from the unlawful denial of the ratification of the Company's valid and approved Environmental Impact Declaration. This legal review has now been completed and Coro will make a decision whether to file suit against the Mendoza government and certain individuals, shortly. The Company is also finalizing an engineering study which defines an alternative development strategy for San Jorge, and which we intend to present to the Argentinean authorities in the next few weeks. Results of this study, and the outcome of these discussions, will be released in Q1 12. Berta Project Located approximately 20km west of the village of Inca de Oro in the III Region of Chile, Coro announced the terms for the 100% acquisition of Berta in its news release of June 13th 2011 and released encouraging assay results from a 24 hole RC drilling program completed at the Berta Sur section of the property, on September 27th, 2011. The Company has now completed a grid geochemistry sampling program, an IP survey, initial reconnaissance mapping, and has expanded the property position by staking. In addition to the mineralization drilled at Berta Sur, this work has resulted in the identification of several strongly feldspar altered porphyritic intrusives containing disseminated, oxidized chalcopyrite with coincident strong copper geochemistry, exposed intermittently over a strike length of 2,000m, and open to the south, adjacent to a major NNE oriented strand of the Chivato fault, (See Figure 1). The northernmost 700m of this mineralized trend has a coincident strong IP chargeability anomaly, open to the NNE. This newly identified mineralization has essentially not been drill tested previously. Additional geochemical and geophysical anomalies and associated mineralization requiring follow up, have also been identified both on the optioned property and on the newly staked ground. Detailed mapping is in progress prior to the initiation of a second round of drilling later in Q1. Chacay Project Located 12km southeast of Teck Resources Relincho copper project, and 50km east of the city of Vallenar in the III Region of Chile, Coro announced continuing encouraging diamond drill results in its news release of October 12th, 2011. The Company has now completed an extensive petrographic review of drill samples and will be completing detailed surface mapping aimed at providing a better understanding of the project's geology, particularly the interrelationships of the various mineralized porphyry types that have been identified to date. The review of drill samples and surface outcrops confirms that the enrichment blanket is related to the development of extensive phyllic alteration which affects a granodiorite host rock and various types of porphyries that intrude it. The mapping will be succeeded by a drill program to define a resource for the enrichment blanket and potentially, to further explore the underlying primary copper-gold-molybdenum mineralization, where the presence of bornite has now been confirmed. New Projects Coro has identified three new porphyry copper prospects in northern Chile, which have potential to host significant mineralization; terms have been agreed with owners of one of these properties and discussions are advanced on a second. Further details will be announced once the relevant contracts have been executed. A generative exploration program for both porphyry copper and gold deposits is under way. Alan Stephens, President and CEO of Coro commented, "We anticipate that 2012 will be an exciting year for Coro as we add to our portfolio of significant porphyry copper projects in Chile, and systematically drill them. We also anticipate that the future of San Jorge will become much clearer over the coming months." 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" 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, Llancahue, and Celeste copper exploration properties located in Chile. For further information please visit the Company's website at or contact Michael Philpot, Executive Vice-President at [phone] or [e-mail] 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. Figure1. Berta Copper Geochemistry