Corona Gold receives shares of Treasury Metals

    TORONTO, Aug. 27 /CNW/ - Corona Gold Corporation ("Corona" or the
"Company") (TSX:CRG) announces that it has received 2,678,871 common shares of
Treasury Metals Inc. ("Treasury Metals") (TSX:TML), representing 10% of the
number of shares outstanding of Treasury Metals. This issuance represents the
final installment of the purchase price payable by Treasury Metals to Corona
pursuant to the purchase agreement dated September 24, 2007 (the "Purchase
Agreement") among Corona, Teck Cominco Limited ("Teck Cominco"), Treasury
Metals and Laramide Resources Limited with respect to the purchase and sale of
the Thunder Lake properties previously held by Corona and Teck Cominco. Under
the terms of the Purchase Agreement, Corona will receive, for no additional
consideration, that number of common shares of Treasury Metals sufficient for
the Company to maintain its 10% ownership interest in Treasury Metals until
such time as Treasury Metals has received aggregate proceeds of $2,348,004
from the issuance of additional common shares.
    Corona intends to hold its common shares of Treasury Metals for
investment purposes. Corona may, subject to market conditions and its ongoing
evaluation of its investment in the common shares of Treasury Metals, make
additional investments in or dispositions of securities of Treasury Metals,
including additional purchases or sales of common shares. Corona will be
filing an early warning report as contemplated by National Instrument 62-103
of the Canadian Securities Administrators in connection with its acquisition
of common shares of Treasury Metals.
    The Company's sale of its interest in the Thunder Lake properties was
consistent with its stated objective of maximizing the value of its existing
properties and exploring new resource-based exploration and investment

    %SEDAR: 00012331E

For further information:

For further information: Murray John, President, Corona Gold
Corporation, Tel.: (416) 482-8606

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