Coronet Metals Inc. Announces Board and Management Changes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2012) - Coronet Metals Inc. (TSX VENTURE:CRF)(OTCQX:CORMF)(FRANKFURT:2CM) (the "Company") is pleased to announce that at the Annual General Meeting ("AGM") of the shareholders held on Thursday, September 27, 2012, Theo van der Linde was elected to the Company's Board of Directors ("BOD"). At the BOD meeting following the AGM, Mr. van der Linde was appointed President, in addition to his position as Chief Financial Officer; Joel Dumaresq was appointed Chairman; Stephen Stine was appointed CEO and COO, and June Hamilton was appointed Corporate Secretary.

Mr. van der Linde, 38, a Chartered Accountant with 16 years' experience in finance, administration, public accounting and mining, has focused on junior exploration and producing mining companies for the past eight years. He has worked in South Africa, the United Kingdom, Canada, West Africa, Peru and the United States. Mr. van der Linde is President of Executive Management Solutions Ltd. in Halifax, Nova Scotia.

"We are delighted to have Theo as a Director of the Company and to assume the additional role of President," stated Stephen Stine, CEO and COO of the Company. "Working with Theo over the past three years has allowed me the opportunity to get to know him very well and I know that he will move the Company forward to the benefit of all shareholders."

Mr. Stine continued: "The Board and I would like to thank Miguel Aramburu, who is stepping down as a Director of the Company, for his significant contributions towards gaining social license at our Yanamina Gold Project in Peru. Miguel has agreed to continue to assist us in these efforts and we look forward to working with him in the future."

About Coronet Metals Inc.

Coronet Metals Inc. is well-funded and positioned to build a substantial junior gold mining company by acquiring advanced, near production assets in the Americas. The proven management team has extensive experience in all aspects of the development and financing of mining projects in Latin and North America.

This news release contains certain forward-looking statements, and such statements involve risks and uncertainties. The results or events predicted may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results, or any other occurrence.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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