DGAP-News

Coronet Appoints VP Operations, Provides Further Updates to Restore Production at White Caps Gold Property in Nevada

DGAP-News: Coronet Metals Inc. / Key word(s): Miscellaneous
Coronet Appoints VP Operations, Provides Further Updates to Restore
Production at White Caps Gold Property in Nevada

05.07.2016 / 14:24
The issuer is solely responsible for the content of this announcement.

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Vancouver, British Columbia--(Newsfile Corp. - July 5, 2016) - Coronet
Metals Inc. (TSXV: CRF) (FSE: 2CM) (OTC Pink: CORMF) ('Coronet' or 'the
Company') provides further update on its fieldwork and re-development plans
at its wholly-owned White Caps Gold Mining Project ('White Caps' or 'The
Project') in the Manhattan Mining District of Nevada.

Coronet presently has samples of the gold bearing Pink and Brown tailings
and mining dumps ('Tailings samples') from the Historical White Caps Mine
at two different labs where they are being tested to confirm prior assay
results (see June 23, 2016 press release). The goal is to determine whether
an innovative, environmentally-progressive technology can be applied to
further improve recoveries from the Tailings samples at White Caps. The
process claims to successfully recover refractory gold from different types
of gold ore. The White Caps Mine is an historical producing gold mine,
which produced significant gold from high grade disseminated replacement
deposits, mostly from the underground mining. Upon receipt of the results
of the testing, Coronet plans to complete previously started work on an NI
43-101 report to further delineate the tailings resource. The Company is
currently obtaining quotes for a drilling program on the tailings and
mining dumps to properly assess quantities of the estimated 250,000 tonnes
of gold bearing tailings and mining dumps at White Caps*.

Coronet has also received strong support for this plan from the United
States Department of the Interior, Bureau of Land Management ('BLM') in
Nevada who see this as an opportunity to move the White Caps tails into
proper containment meeting current guidelines.

Coronet envisions the re-processing of the tails as a potential,
non-dilutive source of capital to enable the Company to proceed with the
re-development of the historical White Caps under-ground Mine which last
produced in 1964.

To assist the Company in pursuing the full potential of the White Caps
property, Coronet has retained Mr. Jeffery Hermann as 'Vice President,
Operations'. Mr. Hermann began his career in 1975 at McCarthy Construction,
where he completed construction projects on Las Vegas' McCarran Airport and