Coronet Metals Inc. Completes Construction at Liberty, Commences Commissioning

Vancouver, British Columbia--(Newsfile Corp. - October 3, 2013) - Coronet Metals Inc. (TSXV: CRF) (OTCQX: CORMF) (FWB: 2CM) ("Coronet") is pleased to announce that it completed construction at its Liberty Gold Processing Facility ("Liberty" or "Liberty Facility") in Amargosa Valley, Nevada. The custom circuit to process gold concentrates is now being commissioned with commercial production expected before the end of October.

The gravity, magnetic separation and grinding circuits have been commissioned and are working well. The agitated leach, filtration and Merrill-Crowe circuits are complete and have been water tested. Liberty is installing a larger, fully completed, skid mounted Merrill-Crowe unit this week. Leaching will commence next week. Liberty has a fully equipped on-site laboratory with a Perkin Elmer Atomic Absorption ("AA") unit, bottle roll, fire assay and smelting capabilities, which is set-up and operational.

A pre-production inspection of the Liberty Facility was conducted by the Nevada Department of Environmental Protection ("NDEP") and it was given the green light to commence production at any time.

Mr. Theo van der Linde, President and CFO of Coronet states, "Completion of the construction of the Liberty Facility is an important milestone for Coronet. We are now poised to commence production and start generating cash flow so that we can grow this segment of our business."

About Coronet Metals Inc.

Coronet Metals Inc. objective is to become a gold development and production company. The management team has experience in all aspects of the development and financing of resource projects in North and South America. Coronet owns the Yanamina Gold Project in Peru, the White Caps Gold Mining, Company Inc. Gold Project in Nevada and the Liberty Precious Metals Testing and Processing Facility in Nevada.

This news release contains certain forward - looking statements about operations and finance, 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.

FOR FURTHER INFORMATION AND ENQUIRIES:
Theo van der Linde
President and CFO
Tel: +1 902 403 7258
Email: tvanderlinde@coronetmetals.com
Web: www.coronetmetals.com

FOR PROCESSING PROPOSALS AND INFORMATION:
Stephen Stine, CEO and COO
+1 303 905 1770.
Email: sstine@coronetmetals.com
Web: www.coronetmetals.com