eResearch Corporation 78 Cameron Crescent, Suite 202 Toronto, Ontario M4G 2A3

www.eresearch.ca

Coronet Metals Inc.

eResearch Corporation and PINNACLEDIGEST have agreed to collaborate and populate each

other’s website with research reports and analyst articles.

eResearch and PINNACLEDIGEST share a common mission: to provide their Subscribers and the

investing public with quality investment research analysis, both written corporate research and

insightful analyst articles, by ensuring that the research is a credible resource that investors can

rely on.

eResearch was established in 2000 as Canada's first equity issuer-sponsored research

organization. We are a primary source for professional investment research, focused primarily on

small- and mid-cap companies. Our research and analysis is of institutional quality, and has the

potential to reach millions of global investors through our extensive electronic distribution

network.

PINNACLEDIGEST has fast become a leading investor portal for interesting and timely investment

information. Its website hosts a weekly column, “featured company” research commentary,

community blogs, the Managing Director’s personal blog, market analysis, a monthly stock

challenge, IPO listings, plus a host of other investor-oriented market information.

eResearch Corporation is pleased to provide a PINNACLEDIGEST report on its latest Featured

Company: Coronet Metals Inc.

Bob Weir, CFA

Director of Research

Note: All of the comments, views, opinions, suggestions, recommendations, etc., contained in the PINNACLEDIGEST articles,

reports, files, documents, essays, etc., and which are distributed by eResearch Corporation, are strictly those of

PINNACLEDIGEST and do not necessarily reflect those of eResearch Corporation.

Third Party Research: Pinnacle Digest April 27, 2014

eResearch Corporation ~ 2 ~ www.eresearch.ca

April 27, 2014

New Featured Company: Coronet Metals Inc.

Prospecting for land claims, acquiring an exploration project and then raising millions of dollars through equity, over many years, to drill an asset has been the primary model used in the junior mining/exploration industry for as long as we've been alive. Our client and Featured Company, Coronet Metals (CRF:TSXV) (CORMF:OTCQX), has a somewhat different model.

A Different Strategy

In 2011, near the beginning of what turned out to be one of the worst bear markets in junior mining history, Coronet raised approximately $10.8 million at $0.30 per unit through an equity financing. With a stout management team in place Coronet planned to go about developing a highly prospective gold exploration project in Peru, using the same model most junior miners have been following for decades. There's nothing wrong with that model, but after watching its treasury decline, and realizing that capital interest for exploration was drying up, Coronet's management team began looking for alternative models within the gold sector. As is the case in any crisis, innovation or an alternative business strategy often forms out of necessity. And after several months of research and tapping its rolodex of international gold mining contacts, Coronet's management discovered an opportunity that could differentiate the company from the majority of junior gold players on the TSX Venture Exchange.

Production-Focus First, Exploration Second

Coronet's well-rounded management and directors, which consists of a group with experience in exploration, mining production and investment banking, wanted to do things a bit differently. Their plan was to find a potential cash-flow producing asset - and with that vision they found a potential opportunity to process third party precious metal concentrates. High precious metals prices have given rise to the re-opening of historical and other past producing mines, but there is a shortage of processing capacity. This processing issue was even addressed in the US Senate (click here for report). Additionally, there is a plethora of exploration projects out there chasing the same financing buck to drill out projects. The mineral exploration industry is saturated, but there is demand for precious metal processing facilities. Coronet sought to differentiate itself by trying to fill some of that processing void; but, in order to service some of that market, it would need a permitted facility - a rarity for any junior to control in this day and age. Building a precious metal processing facility from scratch would be a cumbersome task financially and also daunting from a regulatory standpoint. Building such a facility could take years, and there would be no guarantees that it could be permitted.

eResearch Corporation ~ 3 ~ www.eresearch.ca

So how did Coronet navigate through this challenge? Given that Nevada is responsible for nearly 80% of US gold production every year, and it is routinely near the top of the list of the most mining friendly regions in the world, rated by the Fraser Institute, Coronet decided to make it its operational home base. If it wanted to become a precious metal concentrate processor for third parties, management figured there was no better place to do this than in Nevada. Through much negotiation, in February 2013 the company entered into a 4 year Lease Agreement with an Option to Purchase the fully permitted 50 tons per day Liberty Precious Metals Testing and Processing Facility (the "Liberty Facility") located in the Amargosa Valley, 2 hrs. North-West of Las Vegas, Nevada, on 40 acres of private land. Liberty has a State of Nevada, Division of Environmental Protection ("NDEP"), Permit Number NEV2010101 (the "Liberty Permit").

Liberty Processing Facility, Las Vegas, NV

The Liberty Facility (Liberty) is permitted to process up to 50 tons per day of precious metals feed material from permitted Nevada and out-of-state facilities. Liberty is permitted to use chemical processes (including cyanide) for leaching material that is not recoverable through gravity or flotation. This lease with option agreement propelled Coronet into a unique position; it had entered into a particular segment of the gold industry with few competitors. It is important to note that Coronet aims to process precious metal concentrate, not head ore - we'll explain why. With the Liberty facility under lease, Coronet's plan is to service third party miners/mining companies who need further precious metal processing that cannot be accomplished with their particular circuit.

eResearch Corporation ~ 4 ~ www.eresearch.ca

The Company is processing third party concentrates that they either buy out-right or on a commission basis. Any potential cash flow generated at Liberty could later assist the company with development plans at its other Nevada project (more on this project shortly) and corporate overhead.

Leach circuit at Liberty

After locking in the lease and option agreement for the Liberty Facility, Coronet's work had only just begun. There were many twists and turns along the way before getting the facility up and running. It took several months to negotiate supply agreements with independent parties and roughly $2.5 million spent on upgrading the Liberty facility, infrastructure, and utilities in order for Coronet to custom process precious metal concentrate. Finally, on November 14, 2013, roughly nine months after the lease and option agreement was announced, Coronet had achieved its first gold pour at its Liberty Processing Facility in Nevada. Mr. Theo van der Linde, President and CFO of Coronet stated that day: "This first gold pour at Liberty is a major milestone on Coronet's path to becoming a profitable gold producer. Over the coming months, the operations team at Liberty will be ramping the facility up to full initial capacity while seeking to secure additional supply contracts to support expansion within the existing permits. As production rates increase, Coronet expects Liberty to produce strong cash flow that will support organic growth for the company." Full release here.

eResearch Corporation ~ 5 ~ www.eresearch.ca

Related news: Coronet Metals Inc. Completes Construction At Liberty, Commences Commissioning

Gold dore produced at Liberty

Gold-Focused

If you don't believe gold is likely to rebound in the near future then this investment opportunity may not be of interest. However, if you think gold will resume its bull run in the near future, read on. Coronet is a gold company with a unique business model, extensive business relations in Nevada and minimal competition in its particular segment of the precious metal industry.

Inside the Liberty Processing Facility

While maintaining its excellent relationships with Nevada regulators, Coronet's vision is to generate near-term cash flow, expand Liberty's processing capabilities, and eventually treat gold concentrates from small and medium mines in the United States, Mexico and South America.

eResearch Corporation ~ 6 ~ www.eresearch.ca

You see, many placer and hard rock mines that use a gravity circuit to treat their ore produce a gravity, second and/or float concentrate that needs further treatment; but some of these operators cannot accomplish the further treatment needed because they lack the necessary permits for chemical processing and refining. This is what Coronet is basing its business model on. The company has a fully permitted and fully completed custom refinery at Liberty that processes high grade concentrates into Dore.

Coronet's management is constantly seeking ways to improve efficiency and lower costs. The company is working on new mineral processing techniques with two companies that could be incorporated into the existing Liberty facility, potentially allowing for increased output to significantly reduce costs. Coronet's goal is to produce high grade concentrates at 50TPD (50 tonnes per day) output at Liberty; the Company projects EBITDA could reach $15M-$25M per year at 50TPD. (The range is dependent on average grade, recovery, and plant and material availability)

eResearch Corporation ~ 7 ~ www.eresearch.ca

Inside the Lab at Liberty

A hypothetical situation which highlights the difference between a gold concentrate processing facility and a hard rock mine with mill on site: 50 tons of gold concentrate per day at an average grade of 5 ounces per ton (156 grams per ton) will yield about 210-250 oz of gold per day depending on recovery. For a hard rock mine to produce the same amount of gold per day, it would have to mill 5,000 tons per day at an average grade of 0.05 ounces per ton (1.56 grams per ton).

Every Project Comes With Its Challenges

On April 9th, 2014, Coronet provided an update on operations at the Liberty Processing Facility. The company explained some of the milestones it had reached, some of the challenges it has faced and what shareholders might expect from operations at Liberty in the near future. Excerpts below: "...since commencement of commissioning of the plant and the first gold pour at its Liberty gold processing facility in Nevada ("Liberty") it [Coronet] has toll-processed approximately 60 tons of concentrate from its third-party supplier in Colorado ("Colorado Feed Material"). Developing an understanding of the metallurgical issues while commissioning the plant has been challenging. Commissioning required methodically addressing grind of the feed material, water quality, agitation of material, leach time and the reliability of an older AA assay unit, among other issues. Mechanical problems with the circuit were successfully addressed and the plant is now mechanically complete and operational. However, the Colorado Feed Material has proved to be metallurgically more complex than anticipated and Liberty has not yet achieved

eResearch Corporation ~ 8 ~ www.eresearch.ca

commercially sustainable operations. Management has now determined that this particular material cannot be economically recovered within the current circuit. Coronet has reviewed alternative processes to extract gold from the Colorado Feed Material and other complex feed material available to it. The Company is currently evaluating the commercial applicability of a proprietary process that has been very successful at the pilot plant level. The owners of the process are funding and have commenced fabrication of a 25tpd concentrating and reactor circuit. The concentrating circuit unit will be installed within the next two weeks at Liberty. Coronet plans to use the unit to re-concentrate and re-process all of the Colorado Feed Material and do a large scale test on the viability of additional material from Nevada. Coronet has successfully tested the Colorado Feed Material and the additional potential feed from the Nevada source with this alternative process on a smaller scale. Discussions with potential suppliers of material continue to support Coronet's belief that there is demand for a gold concentrate toll processing facility that can handle complex feed material. The Company recognizes that it underestimated the commissioning challenges at Liberty but believes that the fundamental business model is sound and that the challenges with the initial circuit created an opportunity whereby Liberty is now able to offer additional low-cost treatment options for a variety of precious metals concentrates. The Company is optimistic that the current commercial-scale test work using the alternative gold extraction processes will be successful and will enable it to build out its business model..." Link to full press release.

CLICK HERE FOR ACCESS TO LIBERTY PROCESSING FACILITY IMAGE GALLERY

eResearch Corporation ~ 9 ~ www.eresearch.ca

Click here to learn about the material accepted at the Liberty Processing Facility Click here to learn more about Coronet's Operating Philosophy Click here to learn more about the Property and Circuit Click here for Liberty Receiving Requirements and Procedures Click here for FAQ's About the Liberty Processing Facility

Coronet's White Caps Project in Nevada: Second Piece of the Puzzle

The White Caps Gold Project is Coronet's second Nevada project and the key exploration element to the company's business model. Any potential cash flow generated at Liberty could assist the company with development plans at its White Caps Project.

The White Caps Gold Project

On October 31, 2012 Coronet announced, "...the closing of the acquisition of 100% of the outstanding shares of White Caps Gold Mining Company, Inc. ("WCGM"). Coronet now controls the White Caps Gold Project located in the historic Manhattan mining district of south-central Nevada. WCGM owns the Manhattan Mill, 2800 acres of patented and unpatented mining and millsite claims. There are historical references indicating up to 250,000 tonnes of gold-bearing tailings and dumps which Coronet believes might be economically re-processed. (These references are not NI 43-101 compliant and should not be relied on). In addition, Coronet acquired other rights, titles and interests in the Manhattan Mining District from a WCGM shareholder. This acquisition is in line with Coronet's strategy of acquiring precious metals mining projects which have the potential for both near-term cash flow and have significant exploration upside potential. Coronet believes that the Manhattan mill can be used to process additional gold materials from mining operations in the surrounding area. Coronet is evaluating other Manhattan area acquisitions which have the potential for near term cash flow and/or exploration upside potential." Read full press release here.

eResearch Corporation ~ 10 ~ www.eresearch.ca

* The Company advises that the tonnage and grades listed above are historical in nature and have not been verified. The historical references are not supported by a technical report. A qualified person has not done sufficient work necessary to classify the historical references as a current mineral resource or mineral reserves. The Company is not treating the historical references as current mineral resources and the historical reference should not be relied upon.

Exploration Upside Potential at White Caps Gold Project

The White Caps Gold Project is located in the Manhattan Mining District, one of just the few under-developed, under explored, historic gold districts remaining in Nevada. And the project is located along the same geological trend as the multi-million ounce Round Mountain mine, a joint venture between Kinross Gold and Barrick Gold, located roughly 13 miles to the north. In 2011 alone, the Round Mountain mine produced over 350,000 ounces of gold and contained proven and probable mineral reserves of 2.8 million ounces of gold. Click here for Kinross' summary of the Round Mountain operation. Click here for Barrick's summary of the Round Mountain operation. * It is important to remember, Coronet has not yet completed a NI 43-101 compliant report on the White Caps Project, and the approximate 250,000 tonnes of gold-bearing tailings is not compliant, nor can it be relied upon. Additionally, the cost to process the tailings is unknown.

eResearch Corporation ~ 11 ~ www.eresearch.ca

So cumulatively, what we see in Coronet Metals (CRF:TSXV) (CORMF:OTCQX) is a uniquely modeled junior gold stock trading at its 52 week low (closed at CDN$0.05 on Friday); the Liberty Processing Facility provides the potential for near-term cash flow for Coronet; and the White Caps Gold Project is the longer-term development asset with exploration upside potential. Coronet has roughly 118 million shares outstanding (non fully diluted). However, with the Liberty Processing Facility, Coronet has an asset under lease (with an option to purchase) that most juniors do not. There is a significant potential market for processing precious metal concentrates, so it is vital that Coronet can get the Liberty Processing Facility operating at a sustainable level. There are inherent and residual risks when it comes to Coronet Metals, and like many juniors, further dilution is probable. If cash flow at Liberty is not obtained by Coronet in the near-term, taking on debt or raising capital via equity seems a likely possibility for the company. We are biased towards Coronet Metals because it is a client of ours and we own shares in the company. We may also increase our share position in the company following the release of this report. At the end of the day, this is a nickel stock with a market cap hovering around CDN$6 million. It's a gamble.

CRF:TSXV One Year Stock Chart

Please take responsibility for practicing your own thorough and independent due diligence. Remember, past performance is not indicative of future performance. Just because some of Pinnacle Digest's Featured Companies have performed well, doesn't mean they all will. This marks the initiation of our coverage on Coronet Metals (CRF:TSXV) (CORMF:OTCQX). Its shares last traded at its 52 week low of CDN$0.05. The company's 52 week high is CDN$0.10. We will have further updates in regards to the Coronet story over the coming weeks. All the best with your investments, PINNACLEDIGEST.COM

eResearch Corporation ~ 12 ~ www.eresearch.ca

Disclaimer, Disclosure of Compensation, Risks Involved, Stock Ownership and

Information on Forward Looking Statements:

Please read carefully before proceeding.

All statements in this report, other than statements of historical fact should be considered forward-looking

statements. These statements relate to future events or future performance. This report contains certain

forward-looking statements about operations, future plans and expansion of operations and revenue, and such

statements involve risks and uncertainties. The results or events predicted may differ materially from actual

results or events.

Forward-looking statements are often, but not always identified by the use of words such as "seek",

"anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential",

"targeting", "intend", "could", "might", "should", "believe", "budget", "scheduled", and similar expressions.

Much of this report is comprised of statements of projection. These statements involve known and unknown

risks, uncertainties and other factors that may cause actual results or events to differ materially from those

anticipated in such forward-looking statements.

Forward-looking information and statements in this report includes statements regarding Coronet's cash

generating potential with respect to the Liberty Property and the estimation of production, and the Company's

exploration plans with respect to the White Caps and Peruvian Properties and the estimation of mineral

resources which are subject to such forward-looking risks, uncertainties and other factors which may cause

the Company's actual results, performance or achievements, or industry results, to be materially different

from any future results, performance or achievements expressed or implied by such forward-looking

information. Such risks include gold price volatility, change in equity markets, the uncertainties involved in

interpreting geological data, increase in costs and exchange rate fluctuations and other risks involved in the

gold exploration and development industry. There can be no assurance that a forward- looking statement

herein will prove to be accurate, as actual results and future events could differ materially from those

anticipated in such statements or information. Also, many of the factors are beyond the control of Coronet

Metals Inc. Accordingly, readers should not place undue reliance on forward-looking information.

*Cautionary Note Concerning Historical References Regarding Tailings and Dumps:

This report contains information regarding historical references indicating up to 250,000 tonnes of gold-

bearing tailings and dumps at the White Caps Gold Project. These references are historic in nature and have

not been verified by Coronet Metals or its consultants and are not compliant with current NI 43-101

standards. They should not be relied upon. Coronet Metals has not done sufficient work to classify the

historical references as current mineral resources and therefore these figures should not be treated as current

resources.

Statements regarding mineral exploration operations and objectives are subject to risk, including, but are not

limited to, the availability of financing; fluctuations in commodity prices; changes to and compliance with

applicable laws and regulations, including environmental laws and obtaining requisite permits; political,

economic and geologic risk, inflation and costs of goods and services, property title issues and regulatory

approvals, volatility in stock price, the risks associated with uninsurable risks arising during the course of

exploration, development and production.

Risks and uncertainties respecting mineral exploration/development companies are generally disclosed in the

annual financial or other filing documents of those and similar companies as filed with the relevant securities

commissions, and should be reviewed by any reader of this report. In addition, with respect to any particular

company, a number of risks relate to any statement of projection or forward statement.

eResearch Corporation ~ 13 ~ www.eresearch.ca

PinnacleDigest.com is an online financial newsletter owned by Maximus Strategic Consulting Inc. We are

focused on researching and marketing for resource and technology public companies. Nothing in this report

should be construed as a solicitation to buy or sell any securities mentioned anywhere in this report

(specifically in regard to Coronet Metals Inc.). This report is intended for informational and entertainment

purposes only! The author of this report, and its publishers, bear no liability for losses and/or damages arising

from the use of this report.

Be advised, Maximus Strategic Consulting Inc., PinnacleDigest.com and its employees/consultants are

not a registered broker-dealer or financial advisors. Before investing in any securities, you should

consult with your financial advisor and a registered broker-dealer.

Never, ever, make an investment based solely on what you read in an online newsletter, including Pinnacle

Digest's online newsletter, or internet bulletin board, especially if the investment involves a small, thinly-

traded company that isn't well known.

Most companies featured in the Pinnacle Digest newsletter, and on our website, are paying clients of ours

(including Coronet Metals Inc. - details in this disclaimer). In many cases, we own shares in the companies

we feature. For those reasons, please be aware that we are extremely biased in regards to the companies we

write about and feature in our newsletter and on our website.

Because Coronet Metals Inc. has paid us CDN$50,000 plus applicable taxes to provide our online

advertising and marketing services, and we (Maximus Strategic Consulting Inc. and Aaron Hoddinott)

own shares in the company, you must recognize the inherent conflict of interest involved that may

influence our perspective on Coronet Metals Inc.; this is why we stress that you conduct extensive due

diligence as well as seek the advice of your financial advisor and a registered broker-dealer before investing

in any securities mentioned in our reports.

Maximus Strategic Consulting Inc, owner of PinnacleDigest.com, its officers, directors, employees, and

consultants shall not be liable for any damages, losses, or costs of any kind or type arising out of or in any

way connected with the use of its products or services, including this report.

Maximus Strategic Consulting Inc, owner of PinnacleDigest.com, its employees, consultants and affiliates are

not responsible for any claims made by any of the mentioned companies or third party writers in this report.

You should independently investigate and fully understand all risks before investing. We want to remind you

again that PinnacleDigest.com is often paid editorial fees for its writing and the dissemination of material.

The clients (including Coronet Metals Inc.) represented by PinnacleDigest.com are typically exploration-

stage companies that pose a much higher risk to investors. When investing in speculative stocks such as

Coronet Metals, it is possible to lose your entire investment over time. Set forth below is our disclosure of

compensation received from Coronet Metals Inc. and an explanation of our stock ownership in the company:

Maximus Strategic Consulting Inc., owner of PinnacleDigest.com, has been paid CDN$50,000 plus

applicable taxes to provide online marketing services for Coronet Metals Inc. for a pre-paid six month

online marketing agreement. The company (Coronet Metals Inc.) has paid for this service. The service

includes, but is not limited to, the creation and distribution of reports authored by PinnacleDigest.com

about Coronet Metals Inc. (reports such as this one), as well as display advertisements and news

distribution about the company on our website and in our newsletter. This is our first report on

Coronet Metals Inc.. We (Maximus Strategic Consulting Inc.) own 85,000 shares of Coronet Metals

Inc. which we purchased at $0.30 per share. We (Maximus Strategic Consulting Inc.) may buy more

shares of Coronet Metals Inc. following the release of this report. We (Maximus Strategic Consulting

Inc.) intend to sell every share we own, as well as any shares we may purchase in the future, of Coronet

Metals Inc. for our own profit.

eResearch Corporation ~ 14 ~ www.eresearch.ca

Aaron Hoddinott, President of Maximus Strategic Consulting Inc., owns 20,000 shares of Coronet

Metals Inc. which were purchased at $0.055 per share. Aaron Hoddinott may purchase more shares of

Coronet Metals Inc. following the release of this report. Aaron Hoddinott intends to sell every share he

owns, as well as any shares he may purchase in the future, of Coronet Metals Inc. for his own profit.

All shares we (Maximus Strategic Consulting Inc. and Aaron Hoddinott) currently own or purchase in

the future of Coronet Metals Inc. will be sold without notice to our subscribers. Please recognize that

we are extremely biased when it comes to Coronet Metals Inc.

PinnacleDigest.com's past performance is not indicative of future results and should not be used as a reason to

purchase any security mentioned in this report or on our website.

All information regarding Coronet Metals' stock price, shares outstanding, 52 week high, 52 week low and

market cap was sourced from Bloomberg.

Maximus Strategic Consulting Inc. and PinnacleDigest.com (including its employees and consultants) are not

chartered business valuators; the methods used by business valuators often cannot justify any trading price for

most junior stock exchange listed companies. Coronet Metals Inc. is considered to be a junior stock exchange

listed company.

Any decision to purchase or sell as a result of the opinions expressed in this report OR ON

PinnacleDigest.com will be the full responsibility of the person authorizing such transaction, and should only

be made after such person has consulted a registered financial advisor and conducted thorough due diligence.

Information in this report has been obtained from sources considered to be reliable, but we do not guarantee

that it is accurate or complete. Our views and opinions regarding the companies we feature on

PinnacleDigest.com and in this report are our own views and are based on information that we have received,

which we assumed to be reliable. We do not guarantee that any of the companies mentioned in this report

(specifically Coronet Metals Inc.) or on PinnacleDigest.com will perform as we expect, and any comparisons

we have made to other companies may not be valid or come into effect.

To get an up to date account on any changes to our privacy policy and disclaimer view our full disclosure at

the url listed here: http://www.pinnacledigest.com/privacy-policy-terms-use-our-disclosure

Maximus Strategic Consulting Inc. is a distributor (and not a publisher) of content supplied by third parties

and subscribers. Accordingly, Maximus Strategic Consulting Inc. has no more editorial control over such

content than does a public library, bookstore, or newsstand. Any opinions, advice, statements, services,

offers, or other information or content expressed or made available by third parties, including information

providers, Subscribers or any other user of The Maximus Strategic Consulting Inc. Network of Sites, are

those of the respective author(s) or distributor(s) and not of Maximus Strategic Consulting Inc. Neither

Maximus Strategic Consulting Inc. nor any third-party provider of information guarantees the accuracy,

completeness, or usefulness of any content, nor its fitness for any particular purpose.

Maximus Strategic Consulting Inc, owner of PinnacleDigest.com, does not undertake any obligation to

publicly update or revise any statements made in this report.

Learn how to protect yourself and become a more informed investor at www.investright.org

Your Investment Growth Resource | PinnacleDigest.com | Thank You for Reading | Canada