Coro Mining Announces Postponement of Certain Filings & Reliance on CSA Instrument Governing Relief under COVID-19

VANCOUVER, British Columbia, May 14, 2020 (GLOBE NEWSWIRE) -- Coro Mining Corp. (“Coro” or the “Company”) (TSX: COP) announces that, due to the COVID‐19 pandemic, it intends to postpone certain of its continuous disclosure filings and the 2020 Annual Meeting of Shareholders.

In connection with the continuous disclosure filings, Coro intends to rely on the extensions granted pursuant BC Instrument 51-515 - Temporary Exemption from Certain Corporate Finance Requirements and BC Instrument 51-516 - Temporary Exemptions from Certain Requirements to File or Send Securityholder Materials (together, the “BC Instruments”).  In accordance with the terms of the BC Instruments, Coro intends to:

• postpone the filing of its first quarter consolidated interim financial statements and related management discussion and analysis (collectively, the “Q1 Statements”) which, under Section 4.4 of National Instrument 51‐102 ‐ Continuous Disclosure Obligations (“NI 51-102”), are required to be filed before May 15, 2020;
  
  
  
  
• postpone the delivery of the Q1 Statements to any shareholder who has requested them under Section 4.6(1) of NI 51-102 and which, under Section 4.6(3) of NI 51-102, are required to be delivered before May 25, 2020; and
  
  
  
  
• postpone the filing of its executive compensation disclosure, which under Section 9.3.1 (2.2) of NI 51-102, is required to be filed by May 19, 2020.

The Company intends to file the Q1 Statements on or before June 29, 2020. Until such time as the Q1 Statements are filed, Coro's management and other insiders of Coro are subject to a trading black-out that reflects the principles in section 9 of National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

Coro confirms there have been no undisclosed material business developments since March 30, 2020, the date of filing the Company’s Consolidated Financial Statements for the periods ending December 31, 2019 and 2018.

Coro has received an extension from the British Columbia Corporate Registrar to delay holding its 2020 Annual Meeting of Shareholders to December 31, 2020. Further details of the postponed 2020 Annual Meeting of Shareholders will be shared as soon as they are known, and the appropriate notice will be provided.

Contact Information

Tavistock

+44 (0)207 920 3150

Jos Simson/ Emily Moss

Forward Looking Statements

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation, including, without limitation: the anticipated timing of the filing of the Company’s Consolidated Interim Financial Statements for the three months ended March 31, 2020, the anticipated filing of the Company's Executive Compensation Disclosure, and other matters relating to the Company’s business plans.  These statements relate to future events or the Company’s future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements regarding the future development and exploration potential of the Marimaca Project. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Coro, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, the availability of and costs of financing needed in the future 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. Accordingly, readers should not place undue reliance on forward-looking statements. Coro undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.