Coronet Metals Terminates the Sale of 50% Operational Interest in Coronet Metals US Inc.

Vancouver, British Columbia--(Newsfile Corp. - January 14, 2015) - Coronet Metals Inc. (TSXV: CRF) (FWB: 2CM) (OTCQX: CORMF) ("Coronet" or the "Company") announces that further to news release dated October 24, 2014 the Company has terminated the share purchase agreement to sell a 50% interest in Coronet Metals US Inc. to First Liberty Power Corp. due to failure of the buyers to meet purchase price payment obligations by the due dates as required by the share purchase agreement.

The Company is reviewing the sustainability of the First Liberty mill facility in light of this development.

ON BEHALF OF THE BOARD OF DIRECTORS

Theo van der Linde
President & CFO

FOR FURTHER INFORMATION AND ENQUIRIES CONTACT:
Coronet Metals Inc.
2630 - 1075 West Georgia Street
Vancouver, BC
V6E 3C9
Tel: + 1 604 336-3193
Website: www.coronetmetals.com

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 news release.

We seek safe harbour.