VANCOUVER, Aug. 29, 2013 /PRNewswire/ – Coronado Resources Ltd. (TSX-V: CRD) and (OTCQX: CRDAF) (“Coronado”) is pleased to announce that, at the annual general and
special meeting of Coronado’s shareholders held earlier today (the
“Meeting”), Coronado’s proposed change of business acquisition
previously announced on May 14, 2013 (the “Acquisition”), was approved
by the disinterested shareholders of Coronado. If the Acquisition is
completed, Coronado will acquire of all of the outstanding common
shares of Opunake Hydro Limited (“OHL”) from TAG Oil Ltd. and Opunake
Hydro Holdings Limited in exchange for 14,461,567 common shares of
Coronado.

The completion of the Acquisition remains subject to the satisfaction of
a number of conditions, including final approval from the TSX Venture
Exchange, and the requisite regulatory approvals in New Zealand. Coronado expects the Acquisition will be completed during the third
calendar quarter of 2013.

At the Meeting, the shareholders of Coronado also elected the board of
directors, re-appointed its auditors, re-approved Coronado’s stock
option plan, and approved an advance notice policy.

Further information regarding the Meeting and the proposed Acquisition
is contained in Coronado’s information circular dated July 29, 2013
that has been filed on Coronado’s SEDAR profile and can be obtained at www.sedar.com.

Completion of the Acquisition remains subject to a number of conditions,
including TSX Venture Exchange acceptance and New Zealand regulatory
approval. There can be no assurance that the Acquisition will be
completed as proposed or at all.

The TSX Venture Exchange has in no way passed upon the merits of the
proposed Acquisition and has neither approved nor disapproved the
contents of this press release.

Neither 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.

Cautionary Note Regarding Forward-Looking Statements:

Statements contained in this news release that are not historical facts
are forward-looking statements that involve various risks and
uncertainty affecting the business of Coronado and the Acquisition.
Such statements can generally, but not always, be identified by words
such as “expects”, “plans”, “anticipates”, “intends”, “estimates”,
“forecasts”, “schedules”, “prepares”, “potential” and similar
expressions, or that events or conditions “will”, “would”, “may”,
“could” or “should” occur.

Forward-looking statements and information concerning anticipated
financial performance are based on management’s assumptions using
information currently available. Forward-looking statements in this
news release include Coronado’s expectations regarding the ability to
complete, and the anticipated timing of, the Acquisition.

In making the forward-looking statements in this news release, Coronado
has applied certain factors and assumptions that are based on
information currently available to Coronado as well as Coronado’s
current beliefs and assumptions made by Coronado, including that
Coronado will be able to complete the Acquisition and that all
requisite approvals will be obtained. Although Coronado considers
these beliefs and assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect, and the
forward-looking statements in this release are subject to numerous
risks, uncertainties and other factors that may cause future results to
differ materially from those expressed or implied in such
forward-looking statements. Such risk factors include, among others,
that regulators do not approve the Acquisition or that OHL’s operations
do not continue at their current levels. Although Coronado has
attempted to identify important factors that could cause actual results
to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking information. Coronado does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.

SOURCE CORONADO RESOURCES LTD.