CORAZON MINING LIMITED — Capital/Financing Update 2016

Jun 20, 2016

Announcement 21 June 2016

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Corazon reports High Grade Copper at Mt Gilmore Project

• High grade copper mineralisation returned from rock chip sampling at the Mt Gilmore Cobalt-Copper-Gold Project in New South Wales.

• Mineralisation indicated over a 12km strike within the Project, including best results of:

• 16.30% Cu from Gordonbrook Hill,

• 13.55% Cu from Pulganbar, and

• 5.04% Cu from Iron Mountain.

• Significantly a +2km high grade copper trend identified at Pulganbar includes the Cobalt Ridge Prospect.

• Cobalt Ridge Prospect is an advanced high-grade cobalt deposit boasting:

• Multiple drill results of +1% Co with Cu and Au credits

• Maximum individual 1m drill results of 3.38% Co, 3.18% Cu and 4.92 g/t Au

• Minimal drilling required to define resource

• Mineralisation remains open in all directions:

  • 300m strike drilled, width 50m to 120m

  • Multiple zones

• Numerous undrilled geochemical anomalies

• Corazon has the exclusive right to earn up to 80% of the Mt Gilmore Project.

Australian mineral exploration company, Corazon Mining Limited (ASX:CZN) (“Corazon” or “the Company”), is pleased to announce high grade copper mineralisation from a recently completed surface rock-chip sampling program at the Mount Gilmore Cobalt-Copper-Gold Project (“Project”) in New South Wales Australia (Figure 1).

Corazon has secured the right to earn up to 80% of the Mt Gilmore Cobalt-Copper-Gold Project from private company Providence Gold and Minerals Pty Ltd (“Providence”) (ASX announcement 16 June, 2016) and is currently completing due diligence. The surface rock-chip sampling being reported was undertaken by Providence; these results have been received by Corazon and as such additional disclosure is required by the Company.

Rock-Chip Sampling Program

A total of 76 rock-chip samples were taken within the Project and submitted for analysis in May 2016. This sampling tested five areas identified as significant copper-gold targets. Sampled areas include the May Queen, Iron Mountain, Gordonbrook Hill, Hassans and Puganbar targets (Figure 2).

Results are consistent with historical production and surface sampling, supporting the high-grade tenor of copper mineralisation in the Mt Gilmore area.

CAPITAL STRUCTURE		BOARD OF DIRECTORS	BOARD OF DIRECTORS		CONTACT US
Market cap. @ A$0.009	A$4.7M	Clive Jones	Non-executive Chairman		P: +61 (8) 6142 6366
Ordinary shares	527M	Brett Smith		Managing Director	M: PO Box 8187, Subiaco East WA 6008
Options	7.5M	Jonathan Downes		Director	E: info@corazon.com.au
ASX: CZN		Adrian Byass		Director	W: www.corazon.com.au

Announcement

21 June 2016

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Figure 1 – Project Location

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Figure 2: The Mt Gilmore Trend and Prospect Location over Regional Geological Interpretation

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Announcement

21 June 2016

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Mount Gilmore Copper-Gold

The Project is located in the New England Orogen, a significant mineral province in Eastern Australia with a gold endowment of more the 35M ounces and the potential to host large copper-gold systems. This region hosts deposits such as the Mount Morgan Cu-Au Mine (+50Mt @ 5.9 g/t Au and 0.7% Cu) and Mt Rawdon Gold Mine (50Mt @ 0.71 g/t Au).

A prospective 18km trend (the Mt Gilmore Trend – Figure 2) has been identified within the Project. This region includes:

• More than 25 historic copper, gold, cobalt and iron workings, including significant shafts, adits and drives with high-grade copper and gold mineralisation.

• The definition of five large-scale Cu-Au targets (Figure 2).

Although mapping has identified extensive hydrothermal alteration and copper-gold mineralisation at surface, very little modern exploration has been undertaken at the Project. Aside from small-scale historic copper-gold and iron mines, previous exploration has predominantly been restricted to general prospecting/ mapping, rock-chip/ grab sampling. Drilling has only been completed at one of the targets, being the Pulganbar Prospect in the Cobalt Ridge area.

Pulganbar Co-Cu-Au Prospect

The Pulganbar Prospect includes the Cobalt Ridge deposit which is one of the Company’s main focusses within the Mt Gilmore Project (ASX Announcement dated 16 June, 2016).

Cobalt Ridge is an advanced, high-grade cobalt-copper-gold deposit with drill defined mineralisation over approximately 300m strike and between 50m and 120m in width (Figure 3). The deposit includes multiple zones, with the maximum individual 1m drill results of 3.38 %Co, 3.18 %Cu and 4.92 g/tAu.

The recent rock-chip sampling has defined high-grade copper mineralisation over approximately 2km of strike, between the Federal and Glamorgan mines (Table 1, Figure 3). Historical work supporting the belief in a large copper-gold system existing at Pulganbar includes:

• Large (>2.5km x >1km) zoned, Cu-Au-(Co-U-Ag-Mo-Te-As-Hg-Sb) rich hydrothermal alteration zone defined in geochemical sampling.

• Numerous historic Cu-Co-Au-Hg workings with significant shafts, drives and adits.

• Gold in historic trench sampling (1980’s) confirm the tourmaline breccia system is a fertile gold rich system:

• 5m @ 2.28 g/t Au, Incl 1m @ 7.1g/t Au

• 6m @ 5.6g/t Au

• 4m @ 3.26g/t Au

• 6m @ 4.27g/t Au & 0.3% Cu, Incl. 1m @ 9.2g/t Au

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Announcement

21 June 2016

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Pulganbar

Pulganbar	Pulganbar
Sample ID	Prospect	GDA94_56		Cu	Au	Ag	Fe	Mo
		North	East	%	ppm	ppm	%	ppm
MG0045	Federal Cu Lodes	6740905	467990	850	01	309	283	474
				.	.	.	.
MG0076	Federal Cu Lodes	6740987	467251	6.37	0.041	32.6	20.7	46.2
MG0052	Federal Cu Lodes	6740985	467248	4.79	0.142	44.7	15.1	158
MG0054	Federal Cu Lodes	6740804	467526	3.13	0.056	30.6	10.55	225
MG0044	Federal Cu Lodes	6740903	467991	2.16	0.168	22.1	17.35	241
MG0047	Federal Cu Lodes	6740931	467398	1.65	0.011	13.05	4.56	2.59
MG0056	Federal Cu Lodes	6740575	467833	1.61	0.121	43.9	10.75	42.2
MG0050	Federal Cu Lodes	6740983	467246	1.58	0.008	6.71	27.6	58.5
MG0051	Federal Cu Lodes	6740984	467247	1.17	0.018	5.93	10.85	88.4
MG0049	Federal Cu Lodes	6740982	467245	1.13	0.024	9.78	22.1	211
MG0057	Federal Cu Lodes	6740577	467834	1.02	0.068	24.8	6.64	57.1
MG0055	Federal Cu Lodes	6740805	467527	0.40	0.038	4.93	30.3	847
MG0048	Federal Cu Lodes	6740931	467400	0.08	0.027	1.07	3.11	5.99
MG0046	Federal Cu Lodes	6740904	467464	0.04	0.191	1.07	3.54	23.8
MG0053	Federal Cu Lodes	6740986	467249	0.02	0.004	0.21	4.92	2.49
MG0058	Glamorgan Cu Mine	6739862	468734	13.55	0.003	66	4.82	9.69
MG0067	Pulganbar	6740260	468655	0.07	0.266	0.41	8.85	1.12
MG0070	Pulganbar	6740266	468661	0.05	0.183	0.68	7.24	0.36
MG0069	Pulganbar	6740264	468659	0.04	0.41	0.59	7.44	2.06
MG0068	Pulganbar	6740262	468657	0.03	0.131	0.39	7.88	3.06

Table 1: Pulganbar 2016 rock chip sampling results.

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Figure 3: Prospect location, cobalt surface geochemistry and 2016 rocks chip location (ppmCu) over aerial photography.

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Announcement 21 June 2016

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Hassans Cu-Mo-Au-Co Prospect

The Hassans area is a ‘window’ through younger sedimentary cover that exhibits a large (>1.5km by >1.5km) zoned hydrothermal alteration zone. Numerous small scale prospecting pits are associated with gossanous, silica-tourmaline-limonite cemented breccia and skarn style alteration.

Historic rock chips samples of up to 1.2 g/tAu, 26.8 %Cu, 440 g/tAg and 350 ppmMo have been reported.

This phase of rock chip sampling (Table 2) focussed on weathered gossanous material that only returned weak anomalism. This target remains undrilled and there has been very limited historical exploration.

Hassans
Sample ID	Prospect	GDA94_56		Cu	Au	Ag	Fe	Mo	Sb
		North	East	%	ppm	ppm	%	ppm	ppm
MG0020	Hassan's Ck Prospect	6746495	467184	0.12	0.021	0.8	10.5	443	3.65
MG0022	Hassan's Ck Prospect	6746466	467221	0.11	0.012	2.07	13.75	119	32.6
MG0021	Hassan's Ck Prospect	6746425	467221	0.05	<0.002	0.37	3.36	3.42	1.54
MG0062	Hassan's Ck Prospect	6746730	467730	0.02	0.007	0.85	7.02	1.81	21.4
MG0061	Hassan's Ck Prospect	6746725	467725	0.02	0.014	0.58	8.93	6.26	224
MG0060	Hassan's Ck Prospect	6746720	467720	0.02	0.012	0.2	8.09	13.45	39
MG0075	Hassan's Ck Prospect	6746550	467150	0.01	0.003	0.03	6.19	1.47	4.01
MG0073	Hassan's Ck Prospect	6746541	466932	0.01	0.003	0.08	>50	185	8.18
MG0074	Hassan's Ck Prospect	6746537	466855	<0.01	0.016	0.05	2.05	1.36	4.76

Table 2 : Hassans 2016 rock chip sampling results.

Gordonbrook Hill Target

Gordonbrook Hill is a topographic high coincident with a large (>1.8km by >1.0km) hydrothermal alteration zone. Small scale mining and processing in the late 1800s and early 1900s at the Pluck, Gem and Fine Feather mines (Figure 4) identified this target.

Pluck Cu-Au Mine

• Cu-Au mine with 2 shafts, 2 adits & 2 drives 15m & 24m below surface. ~200m strike.

• Opened 1883, smelter constructed in 1907. Grade of 13% Cu reported between 1903-1907.

• 18 historic rock chips from waste dumps averaged 0.36g/t Au & 2.31% Cu with up to 1.68g/t Au & 9.1% Cu.

Gem Cu-Au Mine

• Cu-Au mine with 2 sizeable shafts & adits (backfilled) - production unknown.

• Significant copper (malachite – azurite – chalcopyrite) observed at surface.

Fine Feather Cu-Au Mine

• Cu-Au mine discovered in 1905 with reverbatory furnace constructed in 1909.

• 3 shafts with at least 100 tons of ore produced before smelter closed. 7 tons graded 23% Cu, 0.84 g/t Au & 11g/t Ag.

• Four historic rock chips returned up to 0.60% Cu & 0.13g/t Au.

A total of 25 rock chip samples were taken within the Gordonbrook Hill prospect. These results are reported in Table 3.

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Announcement

21 June 2016

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Gordonbrook Hill

Gordonbrook Hill	Gordonbrook Hill
Sample ID	Prospect	GDA94_56		Cu	Au	Ag	Fe	Mo	Sb
		North	East	%	ppm	ppm	%	ppm	ppm
MG0039	Pluck Cu-Au Mine	6748794	466965	7.35	1.29	87.5	8.92	1.36	20.5
MG0036	Pluck Cu-Au Mine	6748822	466975	4.98	0.901	76.9	11.95	1.44	7.76
MG0016	Pluck Cu-Au Mine	6748774	466940	3.95	0.028	25.4	7.58	6.68	41.9
MG0017	Pluck Cu-Au Mine	6748820	466973	2.00	0.121	17.9	14	3.59	1.95
MG0042	Pluck Cu-Au Mine	6748792	466964	1.67	0.442	53.4	7.84	2.61	18.5
MG0019	Pluck Cu-Au Mine	6748792	466964	1.56	0.178	20.4	4.37	0.86	14.6
MG0018	Pluck Cu-Au Mine	6748792	466963	1.29	0.332	17.05	4.79	1.05	24.6
MG0040	Pluck Cu-Au Mine	6748795	466966	0.95	0.063	8.23	7.54	1.98	2.79
MG0037	Pluck Cu-Au Mine	6748824	466977	0.83	0.014	9.52	7.1	0.93	25.9
MG0038	Pluck Cu-Au Mine	6748793	466964	0.60	0.006	7.39	4.33	0.71	13.75
MG0023	Pluck Cu-Au Mine	6748793	466965	0.57	0.013	9.09	9.03	6.54	6.3
MG0041	Pluck Cu-Au Mine	6748791	466964	0.46	0.05	4.16	6.36	2.23	11.05
MG0008	Fine Flower Cu Mine	6748257	466956	0.02	0.068	0.83	10.2	6.29	13.55
MG0009	Fine Flower Cu Mine	6748257	466957	0.01	0.065	0.39	7.32	7.86	7.95
MG0034	Regional - Fine Flower Cu	6747760	466710	0.06	0.005	0.12	19.8	0.79	1.44
MG0007	Regional - Fine Flower Cu	6747755	466705	0.03	0.009	0.14	25.2	0.95	4.22
MG0010	Regional - Fine Flower Cu	6748247	466958	0.02	0.002	0.27	10.2	5.54	1.08
MG0033	Regional - Fine Flower Cu	6747757	466708	0.02	0.006	0.14	15.25	1.08	2.82
MG0035	Regional - Fine Flower Cu	6748246	466956	0.01	0.008	0.11	4.82	3.08	1.43
MG0006	Regional - Fine Flower Cu	6747750	466700	<0.01	0.002	0.06	14.7	1.41	0.99
MG0012	Gem Cu-Au Mine	6748344	467147	16.30	0.079	238	14.8	4.62	14.5
MG0014	Gem Cu-Au Mine	6748346	467149	5.43	0.042	107	12.45	3.5	41.1
MG0011	Gem Cu-Au Mine	6748344	467146	1.69	0.043	16.05	8.13	1.71	27.6
MG0015	Gem Cu-Au Mine	6748347	467150	1.37	0.033	34.8	9.8	2.8	27.4
MG0013	Gem Cu-Au Mine	6748345	467148	1.19	0.037	31.7	10.95	2.7	19.15

Table 3: Gordonbrook Hill 2016 rock chip sampling results.

Mineralisation at Gem, Pluck & Fine Flower Mines are considered to represent ‘leakage structures’ related to a Cu-Au system at the Gordonbrook Hill Cu-Au Target. This target has had very limited historical exploration and remains undrilled.

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Announcement

21 June 2016

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Figure 4: Gordonbrook Prospect – historical mine location and 2016 rocks chip location (ppmCu) over aerial photography.

Iron Mountain Target

Small scale iron ore (magnetite) mining in the 1980s exposed copper gold mineralisation. Sampling of this mineralisation in 1986 included:

• 11 grab samples averaging 0.64 g/t Au & 0.64% Cu, including up to 3.8 g/t Au & 2.08% Cu.

• Channel sampling quarry face returned 8m @ 0.57% Cu & 0.12 g/t Au; including 2m @ 1.52% Cu & 0.26 g/t Au.

The area includes numerous small scale copper and gold workings, magnetite Cu-Au skarn mineralisation and several interesting geophysical (magnetic) anomalies. No drilling has been undertaken on these features.

The recent rock chip sampling results are presented in Table 4. Exposure in this area is poor; however, this sampling has extended defined copper mineralisation over an area of 1.5km by 1km.

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Announcement

21 June 2016

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Iron Mountain	Iron Mountain
Sample ID	Prospect	GDA94_56		Cu	Au	Ag	Fe	Mo	Sb
		North	East	%	ppm	ppm	%	ppm	ppm
MG0003	Friday's Find	6748500	464421	0.00	<0.002	0.07	21.5	0.78	0.94
MG0024	Iron Mountain - Fine Flower Fe	6748979	463936	5.04	1.03	3.43	>50	14.2	0.77
MG0025	Iron Mountain - Fine Flower Fe	6748979	463936	0.74	0.37	2	>50	56.3	0.64
MG0063	Iron Mountain - Fine Flower Fe	6748976	463937	0.48	0.101	2.18	4.44	1.57	10.4
MG0027	Iron Mountain - Fine Flower Fe	6749559	463856	0.46	0.055	2.67	>50	16.25	4.76
MG0026	Iron Mountain - Fine Flower Fe	6748979	463936	0.33	0.214	1.43	>50	9.65	1.3
MG0028	Iron Mountain - Fine Flower Fe	6749559	463856	0.12	0.04	0.94	>50	46	0.73
MG0043	Iron Mountain - Fine Flower Fe	6749559	463856	0.01	0.115	0.61	>50	6.98	1.87
MG0031	Iron Mountain - Fine Flower Fe	6749721	463810	0.01	0.01	0.09	>50	0.99	2.14
MG0032	Iron Mountain - Fine Flower Fe	6749721	463811	0.01	0.009	0.15	>50	3.61	1.51
MG0066	Iron Mountain - Regional	6748980	463940	0.10	0.025	0.24	4.76	2.37	12.75
MG0064	Iron Mountain - Regional	6749650	463320	<0.01	0.004	0.06	3.93	1.64	9.43
MG0065	Iron Mountain - Regional	6749655	463325	<0.01	0.003	0.05	1.64	0.62	7.5
MG0029	Iron Mountain - Cu workings	6749473	465037	1.30	0.051	5.4	7.73	29.7	2.5
MG0030	Iron Mountain - Cu workings	6749462	465017	0.09	0.041	0.97	13.2	22.9	0.94
MG0059	Regional - Fe Mountain Trend	6749122	463794	0.18	0.052	0.71	5.6	7.35	290
MG0001	Regional - Fe Mountain Trend	6749238	464860	0.01	0.003	0.03	6.64	0.95	0.53
MG0002	Regional - Fe Mountain Trend	6749175	464662	0.01	0.003	0.11	6.45	0.87	0.5

Table 4 : Iron Mountain 2016 rock chip sampling results.

May Queen Target

May Queen is prospective for Cu-Au skarn (similar to Iron Mountain) and porphyry Cu-Au style of mineralisation.

Very limited previous exploration has been conducted in this region. Small scale historic Cu-Au-Fe workings exist, including three shafts and an adit, within a 300m x 150m basement exposure in a valley. Past rock chip samples of these workings returned up to 3.0g/t Au & 0.53% Cu, associated with chalcopyrite-bornite-magnetite in extensive skarn style hydrothermal alteration assemblages.

Cu-Au mineralisation is associated with high amplitude >3km long linear magnetic high feature and a 0.6km x 0.4m bullseye magnetic high (rimmed by a regionally significant magnetic low anomaly – classic porphyry Cu-Au magnetic signature).

Recent rock chip sampling within the May Queen area (Table 5) failed to produce any results of significance.

Sample ID	Prospect	GDA94_56	GDA94_56	Cu	Au	Ag	Fe	Mo	Sb
		North	East	%	ppm	ppm	%	ppm	ppm
May Queen
MG0071	May Queen	6752428	461236	0.16	0.003	0.68	8.78	1.07	7.47
MG0072	May Queen	6752430	461238	0.03	<0.002	0.08	>50	0.66	4.01
Regional
MG0004	Regional	6747095	466840	0.24	0.032	1.15	44.7	169.5	29.3
MG0005	Regional	6747083	466814	0.20	0.008	4.74	33.1	111	9.67

Table 5 : May Queen 2016 rock chip sampling results.

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Announcement

21 June 2016

For further information visit www.corazon.com.au or contact:

Brett Smith James Moses Managing Director Media and Investor Relations Corazon Mining Limited Mandate Corporate P: +61 (8) 6142 6366 M: +61 (0) 420 991 574 E: info@corazon.com.au E: james@mandatecorporate.com.au

Important Information

Competent Persons Statement :

The information in this report that relates to Exploration Results and Targets is based on information compiled by Mr Brett Smith, B.Sc Hons (Geol), Member AusIMM, Member AIG and an employee of Corazon Mining Limited. Mr Smith has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Smith consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

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Table 6: Checklist of Assessment and Reporting Criteria

21 June, 2016

Mt Gilmore Project, New South Wales, Australia.

2016 Rock chip, historical surface sampling and production data.

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	JORC Code explanation	Commentary
Sampling		Nature and quality of sampling (eg cut channels, random chips, or	Mineralisation was discovered in the Mt Gilmore Project region more than
techniques		specific specialised industry standard measurement tools appropriate	130 years ago; small scale mining was completed in the late 1870’s at
		to the minerals under investigation, such as down hole gamma	Pluck, Gem, Fine Feather, Glamorgan, Flintoffs and Federal copper and
		sondes, or handheld XRF instruments, etc). These examples should	mercury mines. In the 1980’s magnetite was mined from the Iron Hill
		not be taken as limiting the broad meaning of sampling.	prospect.
		Include reference to measures taken to ensure sample representivity
		and the appropriate calibration of any measurement tools or systems	While some historical, publically available records exist for the historical
		used.	production and sampling, they are incomplete and not relied up within.
	 	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required,	Modern exploration within the Project commenced in the 1980’s when PanContinental (for a period in JV with Esso Australia) completed ground IP and magnetic geophysical surveys, gridded soil geochemistry, rock chip sampling, 25 trenches (1518.5m) and 17 RC drill holes (for 1,020.82m).
		such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	The 1980’s trenches were sampled at 5m intervals and mapped in detail. 1983 rock chip samples and trench samples were analysed for Au, Ag, Cu, Sb, Hg, As and Co by ALS in Brisbane. Au was analysed using Fire
			Assay. All other elements by AAS.
			Drilling completed by PanContinental was sampled on a 1m basis, logged
			in detail with selected thin-section studies completed. Samples were
			analysed for Au, Ag, Cu, Sb, Hg, As and Co by ALS in Brisbane. Au was
			analysed using Fire Assay, with all other elements by AAS. Selected
			samples were analysed by Screen Fire Assay for comparative purposes.
			Rock sample were dominated by “geologically representative” samples
			with minor samples submitted for base metal analysis.
			Gridded ground geochemical samples were completed by PanContinental
			in 1983 and 1984. An east-west orientation program at 100m spacing
			included 582samples. Adetailed survey overthePulganbar(Cobalt

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Table 6: Checklist of Assessment and Reporting Criteria

21 June, 2016

Mt Gilmore Project, New South Wales, Australia.

2016 Rock chip, historical surface sampling and production data.

Criteria	JORC Code explanation	JORC Code explanation	Commentary
			Ridge) area on a 10m by 10m pattern included 293 samples. These soil
			samples were air dried and split into two fractions (“-20 to +80 mesh” and
			“-80 mesh”).Samples were sent to SGS laboratories in Sydney (NSW)
			and using AAS for Cu, Pb, Zn, Ag, Hg, Co, Au, Ag, Sb, Sn, Cr, Mn, Fe, Bi
			and Te. All elements had ppm detection limits, except for Au, Hg, Te that
			were ppb and Fe in %.
			Between 2006 and 2008 Central West Gold NL completed 25 RC holes
			and 2 core tails for 2,880m of RC and 163m of core. In this work, 21
			holes were targeting Cobalt Ridge and 4 were completed at Gold Hill.
			This work is detailed in a previous Company announcement by Corazon,
			dated 16 June 2016.
			In May 2016 Providence Gold and Minerals Pty Ltd submitted 76 rock
			chip samples for analysis.
			Images for soil sampling results are presented within this report. Analysis
			was completed using fpXRF. Results are presented in ranges and should
			only be relied upon as an indicator of the tenor of the anomalism, and,
			specifically, high versus low versus background levels.
Drilling		Drill type (eg core, reverse circulation, open-hole hammer, rotary air	Drilling completed by PanContinental in the 1980s was conventional RC
techniques		blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple	drilling.
		or standard tube, depth of diamond tails, face-sampling bit or other
		type, whether core is oriented and if so, by what method, etc).	Drilling completed by Central West Gold NL 2006 and 2008 included RC
			and Core Drilling and has been detailed in a previous Company
			announcement by Corazon, dated 16 June 2016.
Drill sample		Method of recording and assessing core and chip sample recoveries	Drilling completed by PanContinental in the 1980s was conventional RC
recovery		and results assessed.	drilling. Samples were collected on a 1m basis. No other information has
		Measures taken to maximise sample recovery and ensure	been provided with respect to this work.
		representative nature of the samples.
		Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due topreferential	Drilling completed by Central West Gold NL 2006 and 2008 included RC and Core Drilling and has been detailed in a previous Company

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Table 6: Checklist of Assessment and Reporting Criteria

21 June, 2016

Mt Gilmore Project, New South Wales, Australia.

2016 Rock chip, historical surface sampling and production data.

Criteria	JORC Code explanation	JORC Code explanation	Commentary
		loss/gain of fine/coarse material.	announcement by Corazon, dated 16 June 2016.
Logging		Whether core and chip samples have been geologically and	Drilling completed by PanContinental in the 1980s is considered
		geotechnically logged to a level of detail to support appropriate	adequate for the period completed. However additional information is
		Mineral Resource estimation, mining studies and metallurgical	require before the results of this work could be considered for resource
		studies.	estimation.
		Whether logging is qualitative or quantitative in nature. Core (or
		costean, channel, etc) photography.	Drilling completed by Central West Gold NL 2006 and 2008 included RC
		The total length and percentage of the relevant intersections logged.	and Core Drilling and has been detailed in a previous Company announcement by Corazon, dated 16 June 2016.
Sub-sampling		If core, whether cut or sawn and whether quarter, half or all core	The historical data provides no information on these criteria.
techniques		taken.
and sample		If non-core, whether riffled, tube sampled, rotary split, etc and
preparation		whether sampled wet or dry.
		For all sample types, the nature, quality and appropriateness of the
		sample preparation technique.
		Quality control procedures adopted for all sub-sampling stages to
		maximise representivity of samples.
		Measures taken to ensure that the sampling is representative of the in
		situ material collected, including for instance results for field
		duplicate/second-half sampling.
		Whether sample sizes are appropriate to the grain size of the material
		being sampled.
Quality of		The nature, quality and appropriateness of the assaying and	Rock chip, soil, trench and drill hole sampling and assaying by
assay data		laboratory procedures used and whether the technique is considered	PanContinental (and partners) in the 1980s are considered of a good
and		partial or total.	standard and sufficient for this level of exploration and prospecting.
laboratory tests		For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	Rock chip samples and trench samples were analysed for Au, Ag, Cu, Sb, Hg, As and Co by ALS in Brisbane. Au was analysed using Fire Assay. All other elements by AAS.
		Nature of quality control procedures adopted (eg standards, blanks,	Drilling completed by PanContinental was sampled on a 1m basis, logged
		duplicates, external laboratory checks) and whether acceptable levels	in detail with selected thin-section studies completed. Samples were

3

Table 6: Checklist of Assessment and Reporting Criteria

21 June, 2016

Mt Gilmore Project, New South Wales, Australia.

2016 Rock chip, historical surface sampling and production data.

Criteria	JORC Code explanation
	of accuracy (ie lack of bias) and precision have been established.

	Commentary
	analysed for Au, Ag, Cu, Sb, Hg, As and Co by ALS in Brisbane. Au was
	analysed using Fire Assay, with all other elements by AAS. Selected
	samples were analysed by Screen Fire Assay for comparative purposes.
	Soil samples were air dried and split into two fractions (“-20 to +80 mesh”
	and “-80 mesh”).Samples were sent to SGS laboratories in Sydney
	(NSW) and using AAS for Cu, Pb, Zn, Ag, Hg, Co, Au, Ag, Sb, Sn, Cr,
	Mn, Fe, Bi and Te. All elements had ppm detection limits, except for Au,
	Hg, Te that were ppb and Fe in %.
	Rock chip samples completed inMay 2016 by Providence Gold and
	Minerals Pty Ltd were sent to ALS Minerals, Shand Street, Brisbane,
	Queensland.
	Lab Standards, Repeats and Blanks have been reported within the ALS
	Certificates, along with the standard QC Reports.
	Sample weights received were between 0.5kg and 6kg, with most around
	the 1 to 2 kg range.
	Sample preparation included crush (-6mm), pulverizing and sub-split for
	analysis.
	Analysis methods and detection limits for the May 2016 Rock Chip
	Sampling are reported in the table below.
	Element Method Detection
	Limit
	Au 50gm FA 0.002ppm
	AA finish
	Ore grade 50gm FA 0.01ppm
	AA finish
	Au, Ag, Al, As, Ba, Be, Bi, Ca, 48 element Variable.
	Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, 2 Acid ICP-

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Table 6: Checklist of Assessment and Reporting Criteria

21 June, 2016

Mt Gilmore Project, New South Wales, Australia.

2016 Rock chip, historical surface sampling and production data.

Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary
	Be, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y Zn Zr.	MS
	Ag	Ore Grade Ag – 4 Acid	1ppm
	Cu	Ore Grade Cu – 4 Acid	0.001%
Verification of sampling and assaying  The verification of significant intersections by either independent or alternative company personnel.  The use of twinned holes.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.  Discuss any adjustment to assay data. Original laboratory results and certificates have been provided for most of the historical exploration results detailed within.
Location of data points  Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.  Specification of the grid system used.  Quality and adequacy of topographic control. PanContinental drilling completed in the 1980’s was surveyed using a local grid system. These have been subsequently survey on a GDA94 datum (presumably by Central West Gold NL). Drilling by Central West Gold NL has been surveyed by hand-held GPS utilising the WGS84 datum, with a reported accuracy of+10m. Rock Chip location were surveyed by hand-held GPS utilising the GDA94 (Zone 56) datum.
Data spacing and distribution  Data spacing for reporting of Exploration Results.  Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimationprocedure(s) and Data spacing is variable. No determination has been made regarding data spacing and whether sample distribution is sufficient for resource estimation.

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Table 6: Checklist of Assessment and Reporting Criteria

21 June, 2016

Mt Gilmore Project, New South Wales, Australia.

2016 Rock chip, historical surface sampling and production data.

Criteria	JORC Code explanation	JORC Code explanation	Commentary
		classifications applied.
		Whether sample compositing has been applied.
Orientation of		Whether the orientation of sampling achieves unbiased sampling of	Analysis of sample and data bias has yet to be undertaken. No
data in		possible structures and the extent to which this is known, considering	information has been provided in the current or historical reporting to
relation to		the deposit type.	suggest any bias.
geological		If the relationship between the drilling orientation and the orientation
structure		of key mineralised structures is considered to have introduced a
		sampling bias, this should be assessed and reported if material.
Sample		The measures taken to ensure sample security.	The historical data provides no information on these criteria.
security			Sample submission for the May 2016 rock chip sampling program was
			undertaken by a qualified geologist.
Audits or		The results of any audits or reviews of sampling techniques and data.	No audit of results has yet been undertaken.
reviews

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	JORC Code explanation	Commentary
Mineral		Type, reference name/number, location and ownership including	The Mount Gilmore Project includes a single Exploration Licence
tenement and land tenure		agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests,	(EL8379) located in New South Wales, Australia. The lease was granted on 23rd June 2015 and includes 99 “Units”.
status		historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	EL8379 is owned 100% by Providence Gold and Minerals Pty Ltd, with Corazon Mining Limited currently holding the option to earn up to 80% equity in the Project (as reported in this announcement).
			The lease covers private farm (station) land and minor Crown Land.
Exploration		Acknowledgment and appraisal of exploration by other parties.	Mineralisation was discovered in the Mt Gilmore Project region more than
done by other			130 years agowithsmallscalemining being completedinthelate1870’s

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Table 6: Checklist of Assessment and Reporting Criteria

21 June, 2016

Mt Gilmore Project, New South Wales, Australia.

2016 Rock chip, historical surface sampling and production data.

Criteria	JORC Code explanation	JORC Code explanation	Commentary
parties			at Glamorgan, Flintoffs and Federal copper and mercury mines.
			Historical records exist for the historical production and sampling. These
			reports are variable in quality and reliability.
			Modern exploration within the Project commend in the 1980’s when
			PanContinental completed ground IP and magnetic geophysical surveys,
			gridded soil geochemistry for Cu, As, Au and Co, 25 trenches (1518.5m)
			and 17 RC drill holes (for 1,020.82m).
			Between 2006 and 2008 Central West Gold NL completed 25 RC holes
			and 2 core tails for 2,880m of RC and 163m of core. 21 of these holes
			were targeting Cobalt Ridge and 4 were completed at Gold Hill.
			The current Project holders have been focussed on developing data that
			supports a regional scale Cu-Au system along the Mt Gilmore trend.
Geology		Deposit type, geological setting and style of mineralisation.	The Project is located on the western edge of the Mesozoic Clarence-
			Morton Basin, where it abuts the Siluro-Devonian Silverwood Group.
			The Silverwood group is intruded by the Later Permian Towgon Grange
			Granodiorite and, at the contact, tourmaline rich bodies occur that range
			from veinlets to breccia-fill to dyke-like bodies up to 10m wide. The
			tourmaline enrichment appears to correlate with copper, cobalt and gold
			soil anomalies. Zoning of mineralisation has been identified, with
			cinnabar concentrated within the granodiorite and copper and gold
			concentrated within the hornfels.
			The Project is considered prospective for tourmaline breccia hosted Co-
			Cu-Au deposits, Cu-Au-Fe skarns and Quartz-sulphide vein systems,
			including porphyry Cu-Au deposits.
Drill hole		A summary of all information material to the understanding of the	Drilling information detailed in a previous Company announcement by
Information		exploration results including a tabulation of the following information	Corazon, dated 16 June 2016.
		for all Material drill holes:

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Table 6: Checklist of Assessment and Reporting Criteria

21 June, 2016

Mt Gilmore Project, New South Wales, Australia.

2016 Rock chip, historical surface sampling and production data.

Criteria	JORC Code explanation	JORC Code explanation	Commentary
		o easting and northing of the drill hole collar
		o elevation or RL (Reduced Level – elevation above sea level in
		metres) of the drill hole collar
		o dip and azimuth of the hole
		o down hole length and interception depth
		o hole length.
		If the exclusion of this information is justified on the basis that the
		information is not Material and this exclusion does not detract from
		the understanding of the report, the Competent Person should clearly
		explain why this is the case.
Data		In reporting Exploration Results, weighting averaging techniques,	Not applicable to this report.
aggregation		maximum and/or minimum grade truncations (eg cutting of high
methods		grades) and cut-off grades are usually Material and should be stated.
		Where aggregate intercepts incorporate short lengths of high grade
		results and longer lengths of low grade results, the procedure used
		for such aggregation should be stated and some typical examples of
		such aggregations should be shown in detail.
		The assumptions used for any reporting of metal equivalent values
		should be clearly stated.
Relationship		These relationships are particularly important in the reporting of	True widths and strike of mineralised zones have been generalised in
between		Exploration Results.	text describing mineralisation.
mineralisation		If the geometry of the mineralisation with respect to the drill hole
widths and		angle is known, its nature should be reported.
intercept		If it is not known and only the down hole lengths are reported, there
lengths		should be a clear statement to this effect (eg ‘down hole length, true
		width not known’).
Diagrams		Appropriate maps and sections (with scales) and tabulations of	All diagrams include scales for reference (if appropriate).
		intercepts should be included for any significant discovery being
		reported These should include, but not be limited to a plan view of
		drill hole collar locations and appropriate sectional views.

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Table 6: Checklist of Assessment and Reporting Criteria Mt Gilmore Project, New South Wales, Australia.

21 June, 2016

2016 Rock chip, historical surface sampling and production data.

Criteria	JORC Code explanation	JORC Code explanation	Commentary
Balanced		Where comprehensive reporting of all Exploration Results is not	Noted and complied with.
reporting		practicable, representative reporting of both low and high grades
		and/or widths should be practiced to avoid misleading reporting of
		Exploration Results.
Other		Other exploration data, if meaningful and material, should be reported	Corazon Mining Limited is currently conducting due diligence on past
substantive		including (but not limited to): geological observations; geophysical	exploration conducted at the Mt Gilmore Project.
exploration		survey results; geochemical survey results; bulk samples – size and
data		method of treatment; metallurgical test results; bulk density,	With respect to historical results for rock-chip sampling, soil
		groundwater, geotechnical and rock characteristics; potential	geochemistry, geophysics and drilling, reliance has been placed on
		deleterious or contaminating substances.	historical reports as an indicator of potential only.
Further work		The nature and scale of planned further work (eg tests for lateral	Future work by Corazon Mining Limited on the Project is reliant on the
		extensions or depth extensions or large-scale step-out drilling).	due diligence process currently in progress.
		Diagrams clearly highlighting the areas of possible extensions,
		including the main geological interpretations and future drilling areas,
		provided this information is not commercially sensitive.

9