Coro Announces Change of Name to Marimaca Copper Corp. & Share Consolidation

VANCOUVER, British Columbia, May 27, 2020 (GLOBE NEWSWIRE) -- Coro Mining Corp. (“Coro” or the “Company”) is pleased to announce it has changed its name to Marimaca Copper Corp. (“Marimaca Copper”) to align with its flagship development project in Chile. The Company has also undertaken a 25:1 share consolidation as part of a capital reorganisation.

The Company’s new website address is www.marimaca.com where its latest investor presentation can be found. An interview with the recently appointed Executive Chairman, Michael Haworth, can be found at https://www.b-tv.com/coro-mining-changes-name-to-marimaca-copper-corp- ....

The Company’s new ticker will be MARI and trading under the new name on the TSX will commence today, the 27^th of May 2020.

Michael Haworth, Executive Chairman commented:

“The Marimaca Copper Project is one of the most significant copper oxide discoveries in Chile in a decade, and today’s announcement symbolises the commencement of an exciting new chapter in the Company’s evolution.

We have a clear focus on developing Marimaca, which we believe has all of the hallmarks of a low capital cost, high margin, copper development project. A Preliminary Economic Assessment for the Project is underway, which we expect will show the project has robust and compelling economics across a broad range of copper prices.

In addition, we remain very excited about the ongoing exploration potential at Marimaca, especially in the near mine oxide potential and for extensions at depth in the sulphide zone. Any exploration success will only add to what is already a tremendous investment case.

We are making significant progress on the various technical de-risking workstreams and we look forward to releasing the results of these programs to the market when they are complete.”

Share Consolidation

Effective at the opening of markets on the 27^th of May 2020, the Company completed the consolidation of its common shares (the “Share” or “Shares”) on the basis of one (1) post-consolidated Share for every twenty-five (25) pre-consolidation Shares held (the “Consolidation”).

Prior to the Consolidation, the Company had 1,608,946,194 common shares issued and outstanding and 42,995,539 options issued and outstanding. Following the Consolidation, the Company has 64,357,847 common shares issued and outstanding and 1,719,821 options issued and outstanding.

On the 25^th of May 2020, a letter of transmittal with respect to the Consolidation was mailed to all shareholders of the Company. All shareholders who submit a duly completed letter of transmittal along with their respective share certificate(s) representing the pre-consolidated Shares to the Company’s transfer agent, Computershare, will receive a certificate representing the post-consolidated Shares.