Coronation Minerals announces the expiration of the Wellgreen Project Option

    TORONTO, Oct. 31 /CNW/ - Coronation Minerals Inc. (TSX.V:CMV) (the
"Company") announces that due to current market conditions the Company is not
proceeding with the acquisition of the Wellgreen Project from Northern
    The Company is maintaining the 100% owned Rory Claim consisting of 265
staked claims located contiguous and south of the Wellgreen leased ground.
This group encompassed an airborne magnetic survey and discovered an
electromagnetic anomaly measuring approximately 3.5 km x 2.5 km zone. Ground
truth geological investigation showed the zone is mineralized with initial
prospecting samples running as high as 3.96% Cu and elevated Ni values ranging
from 65 - 193 ppm. Gossan/Skarn, and floats of massive sulfides were reported
by the Company's geological team.

    About Coronation Minerals Inc.

    Coronation Minerals Inc. is a Canadian based resource company whose focus
is to explore for and develop mineral deposits throughout the Coronation Gulf
Region, Nunavut Territory, and Yukon Territory, Canada.

    Additional Information

    Information is available on Coronation's website at and on, and through Coronation's
offices by contacting:

    John Patrick Sheridan, President
    141 Adelaide Street West, Suite 1205
    Toronto, ON M5H 3L5
    Tel: (416) 628-5936
    Fax: (416) 628-5935

    %SEDAR: 00008455E

For further information:

For further information: John Patrick Sheridan, President, 141 Adelaide
Street West, Suite 1205, Toronto, ON, M5H 3L5, Tel: (416) 628-5936, Fax: (416)
628-5935, E-mail:

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