Corazon Mining Limited provided an update of its activities at the Cobalt Ridge prospect, located within the Company's Mt Gilmore Project (Project), New South Wales. Corazon has now received assay results from the final two holes of its recently completed 18 hole - 3,189m drilling program (2,426m of RC and 763m of core) at Cobalt Ridge. Drill hole MGRCD036, which tested the Main Cobalt Lode, returned significant results of 5m @ 0.53 % Co, 0.16 % Cu, 0.08 g/t Au from 224 m, within a broader zone of 42m @ 0.11% Co. Drilling has highlighted multiple cobalt, copper and gold mineralised trends in what is interpreted by the Company as a long-lived, multiphase alteration and mineralising event. The Main Cobalt Lode has been the primary target of the Company's current drilling. This lode is up to 25 metres in true width and contains multiple narrow zones of higher-grade mineralisation. Drill hole MGRC037 tested a structurally complex area proximal to the main lode and did not return significant results. Drilling has identified the Main Cobalt Lode mineralisation to be open in all directions, and there is considerable scope to define extensions to this feature as well as define additional parallel lodes. The results of Corazon's drilling programs to date have continued to validate and strengthen the Company's exploration model for the Project as a potentially significant Cobalt-Copper-Gold development asset. Based on the results achieved to date, Corazon will continue to rapidly advance the Project. The next phase of work will include geophysical and geochemical surveys to test for potential extensions to the Project area, as well as the continuation of Corazon's highly successful metallurgical testwork programs. Testing Extensions To Mineralisation: To date a small area of outcrop that defines Cobalt Ridge has been the focus for drilling. The Company believes there is good potential for the mineralisation to extend under thin cover to the east. In addition, recent prospecting to the south has identified multiple untested lodes very similar in character to the Cobalt Ridge mineralisation. Geophysics is expected to be useful in tracing the Cobalt Ridge mineralisation under cover to the east. Geophysical consultants have been engaged and the Company is expecting to complete both aerial and ground geophysical surveys in the near term, with the intention of defining drill targets for the second quarter of 2018. Work is underway to test prospective outcropping areas to the south of Cobalt Ridge with soil sampling (geochemical survey). Soil sampling has been very effective in identifying mineralised trends at Cobalt Ridge. The results of this work are expected in March 2018. Metallurgical Testwork: Metallurgical testwork on the Cobalt Ridge mineralisation is continuing, and results of down-stream processing studies are expected to be completed in the coming weeks. The results of metallurgical work to date have been exceptional. The sulphide mineralisation at Cobalt Ridge can be easily and quickly separated from the bulk of the feed, such that more than 90% of the targeted metals are concentrated in about 10% of the total mass. This ensures that the size, complexity and costs for the down-stream processing options are greatly reduced. This work will be used to scope options for the possible development of Cobalt Ridge. Mt Gilmore Project Overview: The Mt Gilmore Project is located 35 kilometres from the major mining centre of Grafton in northeastern New South Wales. Corazon owns a 51% interest in the Project, and the exclusive right to earn up to an 80% interest in the Project. The prospective 18km Mt Gilmore trend has been identified within the Project area; it includes: Over 25 historic copper, gold, cobalt and iron workings, including significant shafts, adits and drives with high-grade copper and gold mineralisation (rock chips up to grades of 26.8% Cu and 9.2 g/t Au); and Five large scale Cu-Au targets that have been defined to date.