TAG Oil Ltd. (TAO.TO) and (TAOIF), reports that it has acquired 25,975,000 common shares in the capital of Coronado Resources Ltd. (CRD.V) pursuant to a private placement by Coronado, at a price of $0.12 per common share. The common shares acquired by TAG pursuant to the Private Placement represent approximately 40.2% of Coronado's issued and outstanding common shares.

TAG did not own any securities of Coronado prior to the Private Placement.

The common shares acquired by TAG pursuant to the Private Placement were acquired for investment purposes and TAG may, depending on market and other conditions, increase or decrease its beneficial ownership of common shares or other securities of Coronado whether in the open market, by privately negotiated agreement or otherwise.

No person is acting jointly or in concert with TAG in connection with the purchase of the common shares.