CORAZON MINING LIMITED — Capital/Financing Update 2024

Dec 9, 2024

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ASX ANNOUNCEMENT
10 December 2024
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Strategic Expansion of MacBride Base & Precious Metal Project in Canada

Acquired ground more than doubles Corazon’s prospective landholding / Aerial geophyical survey extended to test new tenure / Work underway defining priority targets for early 2025 drill program

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Key Highlights

ASX: CZN ABN: 87112 898 825

REGISTERED OFFICE

Level 3, 33 Ord St, West Perth, WA 6005

PO Box 8187 Subiaco East WA 6008

T : +61 8 6166 6361 E : info@corazon.com.au www.corazon.com.au

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• Corazon has secured additional ground at the MacBride Base and Precious Metals Project in Canada’s Lynn Lake district

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• MacBride Project now covers a 14-kilometre strike of stratigraphy prospective for Cu-Zn-Au-Ag massive sulphide deposits, including the drill-defined outcropping MacBride and Wellmet deposits

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• High-grade gold assays from historical sampling ( up to 25.9g/t Au in grab samples ) within the new ground further highlights the region’s prospectivity for orogenic gold deposits

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An aerial VTEM geophysical survey is currently underway

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• Previous VTEM survey effectively defined a conductor coincident with the MacBride Deposit, as well as multiple untested, high-priority conductors undercover on trend

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• The new VTEM survey provides greater coverage of the MacBride Project, including the first-time survey of the Wellmet Cu-Au and Zn-Cu-Au trends

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• Results from the new VTEM survey are expected to be available in the coming weeks and will be used in targeting drilling for early 2025

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• The MacBride Project is an exciting exploration opportunity and will be a major focus of Corazon’s ongoing Lynn Lake region exploration activities

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Corazon Mining Limited (ASX: CZN) (Corazon or Company) is pleased to announce the strategic expansion of its MacBride Base and Precious Metals Project (MacBride or Project) in the Lynn Lake district, of Manitoba, Canada.

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The Company has physically staked and made applications for new Mining Claims that increases the MacBride project area from ~26km[2] to ~56km[2] , covering a contiguous ~14km strike length of the prospective MacBride/Wellmet trend (Figure 1). The new Claims are pending grant by the Manitoba Provincial Government.

The new area hosts several prospects identified by historical exploration, including results as high as 25.9 g/t Au in grab sampling at Prospect Area F (Figure 1).

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ASX Announcement | Strategic Acquisition of New Tenure – 10 December 2024

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Exploration at MacBride between the 1940’s and early 1990’s defined the MacBride and Wellmet copper-zinc-goldsilver deposits and established the fertility of the region. The only recent exploration was a 2008 aerial VTEM (versatile time domain electromagnetic) survey, which identified the MacBride deposit as a conductor, along with multiple high-order conductive bodies, undercover along trend (ASX announcement 7 October 2024). These conductive bodies are yet to be followed up with drilling.

The MacBride Project is a major focus of Corazon’s Lynn Lake region exploration activities. The effectiveness of past geophysical VTEM surveys in defining drill-defined massive sulphide mineralisation has resulted in extending coverage over a larger part of the project area. The geophysical conductors defined from this work will be the priority focus for first pass drilling currently proposed for early 2025.

The MacBride Project expansion further enhances Corazon’s position as a significant landholder and active explorerdeveloper in the Lynn Lake district, which also hosts the Company’s 100% owned, flagship Lynn Lake Nickel-CopperCobalt Sulphide Project.

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Figure 1 - Interpreted Geology of the MacBride Project, New Claim and 2008 VTEM area outlines, historically defined deposit and prospect locations. Geology modified from the Manitoba Geological Survey’s 1:50,000 Mapsheet – Fraser Lake (64B13, GP87-3-3) 1993. Government provided selected sampling results defining the prospects include rock samples (RS = grab and channel samples) and drill samples (DH with sample interval in metres) as defined in digital datasets provided by the Manitoba Department of Economic Development, Investment, Trade and Natural Resources. Original source references for sampling and drilling results are provided within Table 1 of this report.

MacBride Project Summary

The MacBride Project is located within the Lynn Lake region of Manitoba, Canada (Figure 3). The region has a history of mining and exploration for magmatic nickel sulphide, volcanogenic zinc-copper-gold massive sulphide (VMS) and orogenic gold, dating back to the late 1940’s. The main historical mining operations have included the Lynn Lake

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www.corazon.com.au

ASX Announcement | Strategic Acquisition of New Tenure – 10 December 2024

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nickel-sulphide mining centre (100% owned by Corazon), the Fox Lake copper-zinc mine and the MacLellan-Gordon gold deposits.

VMS deposits typically exist as stratiform lenses of polymetallic sulphide mineralisation occurring in clusters (indicative of a “camp”). World-class VMS camps are well established within the province of Manitoba, including the Flin Flon – Snow Lake region, approximately 250 kilometres south of the Lynn Lake greenstone belt.

The MacBride Project hosts the outcropping, drill-defined, MacBride and Wellmet massive sulphide deposits; located approximately six kilometres apart, on a regionally identifiable stratigraphic trend (Figures 1 and 2).

Outcropping mineralisation was discovered in the MacBride area in the late 1940’s, with drilling campaigns completed through to the early-1990’s (ASX announcement 13 June 2024).

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Figure 2 - Interpreted Geology overlain on a greyscale image of 2008 VTEM magnetics (tilt-derivative), with VTEM conductors and the surface projections of modelled plates for the priority conductors (ASX announcement 7[th] October 2024). Refer to Figure 1 for location of image. Geology modified from the Manitoba Geological Survey’s 1:50,000 Mapsheet – Fraser Lake (64B13, GP87-3-3) 1993.

Drilling has tested the MacBride deposit over a strike of approximately 400 metres, to a depth of about 300 metres. Corazon is in the process of validating this historical work, with the intention of using the information to complete geological and resource modelling.

Historical exploration information at Wellmet is not as extensive as that for MacBride. No published reports are available regarding the exploration of this prospect since 1993 (~ 30 years).

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www.corazon.com.au

ASX Announcement | Strategic Acquisition of New Tenure – 10 December 2024

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Exploration at Wellmet has defined multiple sulphide shows and geophysical anomalies. Drilling of the main prospect intersected a number of zones including a main zinc-rich massive sulphide horizon, and a copper-gold dominant stringer horizon. Drilling has tested the main Wellmet Deposit over a strike of approximately 240 metres and to a depth of about 370 metres below surface.

The only modern exploration to be undertaken at the MacBride Project was an airborne VTEM geophysical survey completed by Western Areas NL (ASX:WSA) in 2008. Corazon has processed data from this VTEM survey and identified multiple electromagnetic (EM) conductive bodies (ASX announcement 7[th] October 2024). Three priority areas have been identified, including the MacBride North, MacBride South and MacBride Southeast prospects located within Figures 1 and 2.

The quantity and distribution of these anomalies suggest the MacBride Project has the potential to deliver a cluster of zinc-copper-gold-silver volcanogenic massive sulphide (VMS) deposits, making MacBride a major focus for Corazon’s Lynn Lake region exploration activities. Planning is underway for 2025 work programs that will enable drilling of the priority conductors as soon as practicable.

The MacBride Project acquisition was announced on 13 June 2024. The Company can complete this acquisition by paying C$153,600 to the private owner of the projects. The date for completion of this payment has been extended, by mutual agreement, until the end of December 2024.

New Prospects Identified

The new claims area includes several prospects identified by historical exploration and included in the digital datasets offered by the Manitoba Department of Economic Development, Investment, Trade and Natural Resources (Figure 1).

Prospect SG-86-1 is a reconnaissance drill hole completed by Sherritt Gordon Mines Limited in 1986 that returned 4.01% copper with anomalous zinc, gold and silver within a chlorotic schist, over an interval of 0.6 feet (~0.2 metres) (Assessment Report #94004 – Diamond Drilling 1986). Assumptions are that this is possibly remobilised sulphide within a structure (shear/fault). The significance of this anomaly is that it sits close to one of Corazon’s highly ranked structural targets within the MacBride region. The aerial VTEM survey currently underway will cover this target, which is located immediately to the west of the 2008 VTEM survey.

Exploration in the area around the Wellmet Deposit in the early 1990’s by Registry Resources Inc and Manitoba Mineral Resources Ltd included mapping, geophysics and drilling (Assessment Report #72678 – Geological Mapping, Prospecting, Litho-geochemical sampling and VLF-EM Surveys 1993 and Assessment Report #72677 – Diamond Drilling 1993). This work extended the mineralisation at the Wellmet Deposit (also called Area A) and identified new prospects at Areas B, C, D, E and F (Figure 1).

Prospect Areas B, C, D and E are described as altered mafic and intermediate volcanics, sometimes gossanous at surface, with varying amounts of pyrite/pyrrhotite (iron sulphide), chalcopyrite (copper sulphide), sphalerite (zinc sulphide) and magnetite.

Mapping and sampling of the area also identified mineralised quartz/carbonate veining and structures hosted by quartz diorite intrusive rocks. Within Prospect Area F , surface grab and channel sampling of veining and structures within a quartz diorite returned high-grade gold results including 25.9 g/tAu, 2.67g/tAu and 1.08 g/tAu. The 1993 assessment report (#72678) also referenced prior sampling of this prospect (which has yet to be validated), including 17.6 g/tAu and 1.92 %Cu (1987), 21.5 g/tAu (1992). Interestingly, the documented east-west orientated host structures are coincident with the east-west trending “basal volcanics” interpreted in Figure 1.

Gold mineralisation hosted by quartz diorites is a style of mineralisation common within the Lynn Lake Greenstone Belt, and indicates the prospectivity of the MacBride Project for orogenic gold deposits such as the Gordon and MacLellan gold deposits currently being developed by Alamos Gold Inc (TSX:AGI) at Lynn Lake (Figure 3).

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www.corazon.com.au

ASX Announcement | Strategic Acquisition of New Tenure – 10 December 2024

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Figure 3 – Lynn Lake District Mine and Prospect Location Map.

This announcement has been authorised on behalf of Corazon Mining Limited by Managing Director, Mr. Brett Smith.

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

Brett Smith

James Moses

Managing Director Media & Investor Relations Corazon Mining Limited Mandate Corporate P: +61 (08) 6166 6361 M: +61 (0) 420 991 574 E: info@corazonmining.com.au E: james@mandatecorporate.com.au

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www.corazon.com.au

ASX Announcement | Strategic Acquisition of New Tenure – 10 December 2024

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Competent Persons Statement :

The information in this release that relates to Exploration Results and Targets for the Lynn Lake Project is based on information previously disclosed in the following Company ASX announcements.

The ASX Announcements are available on the Company’s website (www.corazon.com.au) and the ASX website (www.asx.com.au) under the Company’s ticker code ‘CZN’.

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 mineralisation and type of deposit under consideration and to the activity that 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.

Forward Looking Statements

This announcement contains certain statements that may constitute “forward looking statement”. Such statements are only predictions and are subject to inherent risks and uncertainties, which could cause actual values, results, performance achievements to differ materially from those expressed, implied or projected in any forward looking statements.

Forward-looking statements are statements that are not historical facts. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forwardlooking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the Company’s prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forwardlooking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

The Company believes that it has a reasonable basis for making the forward-looking Statements in the announcement based on the information contained in this and previous ASX announcements.

The Company is not aware of any new information or data that materially affects the information included in this ASX release, and the Company confirms that, to the best of its knowledge, all material assumptions and technical parameters underpinning the exploration results in this release continue to apply and have not materially changed.

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www.corazon.com.au

Table 1: Checklist of Assessment and Reporting Criteria

10[th] December 2024

Historical Exploration & Prospect Locations – MacBride Project, Canada.

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling	Nature and quality of sampling (eg cut channels, random	Historic Surface Sampling and Drilling
techniques	chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.	Publicly available historical exploration results from surface grab and channel sampling, as well as drilling, have been acquired from on-line datasets provided by the provincial government of Manitoba. These results are selectively reported by the government, focusing on what is considered significant or anomalous results. The original historical
		exploration reports (source reference data) suggest there is a considerable
		amount of historical data (assay results) that is not included in these
		publicly available government datasets.
		Source documentation for the historical work is available within scanned
		historical reports held by the Manitoba province’s mining department, within
		the Department of Economic Development, Investment, Trade and Natural
		Resources.
		Source data sample and drill hole locations were originally positioned on
		“local imperial grid”, specific for each individual deposit area. The Company
		is in the process of geo-rectifying these grids, such that all historical
		samples can be captured (c.f. relying on the selective reporting provided by
		the provincial government).
		It is assumed that the sampling methodology was of an acceptable standard
		for the time of reporting. Drill core sampling methodology is well
		documented and involves manually breaking the drill core in half, by
		cleaving with a hammer and chisel. There is no information regarding the
		methodology of surface grab or channel sampling.
		All original measures of length were in imperial feet and have been
		converted to metric metres. Sampled intervals, for channel samples and
		drilling, are variable.
		Geological logging of the core appears to be of a good standard.
		The historical drill core has not been inspected, with no drill core known to
		have survived to this day.
		Assay techniques havenot consistently been reported.
		 Down-hole surveys were standard and utilised the acid etching technique.

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Table 1: Checklist of Assessment and Reporting Criteria

10[th] December 2024

Historical Exploration & Prospect Locations – MacBride Project, Canada.

Criteria	JORC Code explanation	Commentary
	Include reference to measures taken to ensure sample	Surface grab and channel sampling and drill hole information, reported in the
	representivity and the appropriate calibration of any	referenced source data, includes detailed geological logs with assay
	measurement tools or systems used.	information. Drill hole assays can be matched to the sulphide zones identified
		within the drill logs.
	Aspects of the determination of mineralisation that are	Visual descriptions of the mineralisation were documented by a geologist and
	Material to the Public Report.	supported by subsequent analytical results.
	In cases where ‘industry standard’ work has been done this	At a minimum, copper, zinc, gold and silver were assayed for.
	would be relatively simple (eg ‘reverse circulation drilling
	was used to obtain 1 m samples from which 3 kg was	Assaying for the results reported for the Area B, C, D, E and F prospects was
	pulverised to produce a 30 g charge for fire assay’). In other	completed by Accurassay Labs, a division of Assay Laboratory Services Inc,
	cases more explanation may be required, such as where	Tunder Bay, Ontario, Canada.
	there is coarse gold that has inherent sampling problems.
	Unusual commodities or mineralisation types (eg submarine	Samples were crushed to -10 mesh, then a 250gm to 300gm portion was
	nodules) may warrant disclosure of detailed information	pulverised to -150 mesh and mixed. For gold assays, a 20gm portion was
		analysed (5 ppb Au detection limit) using fire assay, finished by atomic
		absorption spectroscopy (AAS). The reagent was aqua regio.
		Additional elements analysed for included silver, copper, zinc, lead and nickel.
		Not all samples were assayed for all elements. A 0.25gm potion of the -150
		mesh pulp was digested in aqua regia then analysed by AAS. Samples
		assaying >10,000ppm were re-assayed using a 2.5gm sample of the pulp.
		Assaying for the Sherritt Gordon Mines 1986 drill hole at SG-86-1 was
		completed by Acme Analytical in Vancouver. No detailed methodology has
		been determined from the historical reporting.
Drilling	Drill type (eg core, reverse circulation, open-hole hammer,	Drilling type for the holes reported BQ core wireline.
techniques	rotary air blast, auger, Bangka, sonic, etc) and details (eg
	core diameter, triple or standard tube, depth of diamond	The drilling reported for the Area C prospect was completed by Midwest
	tails, face-sampling bit or other type, whether core is	Drilling contractors (1993). The drilling reported for the SG-86-1 prospect was
	oriented and if so, by what method, etc).	completed by Longyear Canada Limited (1986).

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Table 1: Checklist of Assessment and Reporting Criteria

10[th] December 2024

Historical Exploration & Prospect Locations – MacBride Project, Canada.

Criteria	JORC Code explanation	Commentary
Drill sample	Method of recording and assessing core and chip sample	Sampling intervals and assays were reported in the geological logs within the
recovery	recoveries and results assessed.	Assessment Reports. Drill hole recoveries were not reported.
	Measures taken to maximise sample recovery and ensure	Not reported. Assays match well with the geological logs.
	representative nature of the samples.
	Whether a relationship exists between sample recovery and	No sample bias has been reported or observed.
	grade and whether sample bias may have occurred due to
	preferential loss/gain of fine/coarse material.
Logging	Whether core and chip samples have been geologically and	Drill core and surface rock samples were geologically logged with good detail
	geotechnically logged to a level of detail to support	and suggesting the geologists had adequate expertise in the style of
	appropriate Mineral Resource estimation, mining studies	mineralisation tested for.
	and metallurgical studies.	Drill hole logs were completed and signed-off on by a qualified geologist.
		Geological logging is of a standard that would support Mineral Resource
		estimations. Issues affecting JORC compliance and category include
		translations form the historical local imperial grids, elevations, incomplete
		down-hole survey data and no specific gravity testwork.
		Loggin of the surface Channel Samples is of a similar quality to the drilling.
	Whether logging is qualitative or quantitative in nature. Core	Drill core and channel sample logging records both the qualitative and
	(or costean, channel, etc) photography.	quantitative aspects of the geology and mineralisation. Information recorded
		from logging are both measurable and descriptive. This includes (but is not
		restricted to) recording of lithology, alteration, mineralogy, weathering
		characteristics, structural features, textural and interpretive information.
	The total length and percentage of the relevant intersections	All drill holes are logged in full. Not all core is sampled and assayed.
	logged.
Sub-	If core, whether cut or sawn and whether quarter, half or all	It is assumed, the sampling methodology for the drill core was of an acceptable
sampling	core taken.	standard for the time of reporting. This typically would include manually
techniques		breaking the drill core in half, by cleaving with a hammer and chisel.
and sample
preparation

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Table 1: Checklist of Assessment and Reporting Criteria

10[th] December 2024

Historical Exploration & Prospect Locations – MacBride Project, Canada.

Criteria	JORC Code explanation	Commentary
	If non-core, whether riffled, tube sampled, rotary split, etc	Not applicable, as only core drilling has been reported within.
	and whether sampled wet or dry.
	For all sample types, the nature, quality and	Information not recorded within the historical reports.
	appropriateness of the sample preparation technique.
	Quality control procedures adopted for all sub-sampling	Information not recorded within the historical reports. Assay results for
	stages to maximise representivity of samples.	mineralisation match well with the geological logging.
	Measures taken to ensure that the sampling is	Information not recorded within the historical reports. Assay results for
	representative of the in situ material collected, including for	mineralisation match well with the geological logging.
	instance results for field duplicate/second-half sampling.
	Whether sample sizes are appropriate to the grain size of	Sample sizes from half-BQ core are considered small by todays standard.
	the material being sampled.	However, the sampling and results are considered appropriate for the rock type
		and style of mineralisation tested for.
		Sample sizes for the grab and channel samples have not been reported.
Quality of	The nature, quality and appropriateness of the assaying and	Information not recorded within the historical reports. Laboratories used for the
assay data	laboratory procedures used and whether the technique is	drilling reported include –
and laboratory tests	considered partial or total.	Sherritt Gordon Mines 1986: analyses completed by Acme Analytical in Vancouver.
		Registry Resources Inc and Manitoba Mineral Resources Ltd1993: assaying
		completed by Accurassay Labs, a division of Assay Laboratory Services Inc,
		Tunder Bay, Ontario, Canada.
		The quality and methodology of the assaying is considered appropriate.
	For geophysical tools, spectrometers, handheld XRF	Information not recorded within the historical reports.
	instruments, etc, theparameters used in determining the

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Table 1: Checklist of Assessment and Reporting Criteria

10[th] December 2024

Historical Exploration & Prospect Locations – MacBride Project, Canada.

Criteria	JORC Code explanation	Commentary
	analysis including instrument make and model, reading
	times, calibrations factors applied and their derivation, etc.
	Nature of quality control procedures adopted (eg standards,	Information not recorded within the historical reports.
	blanks, duplicates, external laboratory checks) and whether
	acceptable levels of accuracy (ie lack of bias) and precision
	have been established.
Verification	The verification of significant intersections by either	Information not recorded within the historical reports.
of sampling	independent or alternative company personnel.
and		There is a good correlation between mineralised intervals and the geology
assaying		reported in historical geological logs.
	The use of twinned holes.	The reported drill holes or sample points have not been twinned.
	Documentation of primary data, data entry procedures, data	All data exists as scanned copies of historical paper logs and annual reports.
	verification, data storage (physical and electronic) protocols.	All assays are original individual lab results.
	Discuss any adjustment to assay data.	Information not recorded within the historical reports.
		Reported assay intervals are original individual assay results.
Location of	Accuracy and quality of surveys used to locate drill holes	Reported surface samples and drill holes have been located on local imperial
data points	(collar and down-hole surveys), trenches, mine workings	grids, specific for each area. These co-ordinates have been recorded on the
	and other locations used in Mineral Resource estimation.	original sample and drill hole geology logs.
		The Company is looking to establish accurate transformation formula from
		local grid coordinates into a real-world coordinate system.
		Down-hole survey information has been recorded using the Acid Etching
		technique.
	Specification of the grid system used.	Reported surface samples and drill holes have been located on local imperial
		grids, specific for each deposit.

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Table 1: Checklist of Assessment and Reporting Criteria

10[th] December 2024

Historical Exploration & Prospect Locations – MacBride Project, Canada.

Criteria	JORC Code explanation	Commentary
	Quality and adequacy of topographic control.	Topographic control is supported by fact mapping, presumable from base
		maps generated from aerial photography. Details within these maps compare
		will with modern GIS topographic data and satellite imagery.
		The location of the historical work is not considered accurate by today’s
		standards.
		The Company will endeavour to improve topographic and survey control for the
		projects.
Data spacing	Data spacing for reporting of Exploration Results.	Variable.
and
distribution
	Whether the data spacing and distribution is sufficient to	Assessment of this criteria has yet to be completed. The spatial distribution of
	establish the degree of geological and grade continuity	sampling and drilling reported isnotconsidered appropriate for Mineral
	appropriate for the Mineral Resource and Ore Reserve	Resource and Ore Reserve estimation.
	estimation procedure(s) and classifications applied.
	Whether sample compositing has been applied.	It appears no compositing was applied to the historical assay data.
Orientation	Whether the orientation of sampling achieves unbiased	The mineralisation within these VMS and orogenic gold deposits are very
of data in	sampling of possible structures and the extent to which this	strongly structurally controlled.
relation to geological	is known, considering the deposit type.	There is no data that supports a bias for the sampling has been established.
structure
	If the relationship between the drilling orientation and the	The orientation of the surface sampling and drilling of key mineralised
	orientation of key mineralised structures is considered to	structures is not considered to have introduced a sampling bias.
	have introduced a sampling bias, this should be assessed
	and reported if material.
Sample	The measures taken to ensure sample security.	Information not recorded within the historical reports.
security
Audits or	The results of any audits or reviews of sampling techniques	Information not recorded within the historical reports.
reviews	and data.

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Table 1: Checklist of Assessment and Reporting Criteria

10[th] December 2024

Historical Exploration & Prospect Locations – MacBride Project, Canada.

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code explanation	Commentary
Mineral	Type, reference name/number, location and ownership	The outline to the claims that make up the MacBride Project are in			Figure 1,
tenement and	including agreements or material issues with third parties	with individual granted claims previously reported in ASX announcement 13th
land tenure	such as joint ventures, partnerships, overriding royalties,	June 2024 and detailed in the table below.
status	native title interests, historical sites, wilderness or national park and environmental settings.	On completion of the MacBride transaction, the Claims Corazon Mining Limited.		will be 100% owned by
		The outline of the recently staked claims is presented	in Figure 1.		The details
		of individual claims will be provided once the Provincial Government has
		recorded them.
		Corazon works with First Nation groups and several government organizations
		responsible for mining and the environment. Access agreements and Work
		Permits have yet to be obtained for these new project	areas.
		Mining Claim Mining Claim Number Grant Date		Expiry Date
		RIDE 3 MB736 11/09/1998		10/11/2026
		RIDE 12151 MB12151 29/09/2016		28/11/2028
		RIDE 12153 MB12153 29/09/2016		28/11/2028
		RIDE14550 MB14550 New Staking
		RIDE14551 MB14551 New Staking
		RIDE14552 MB14552 New Staking
		RIDE14553 MB14553 New Staking
		RIDE14554 MB14554 New Staking

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Table 1: Checklist of Assessment and Reporting Criteria

10[th] December 2024

Historical Exploration & Prospect Locations – MacBride Project, Canada.

Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary
	RIDE14555	MB14555	New Staking
	RIDE14556	MB14556	New Staking
	RIDE14557	MB14557	New Staking
	WEL14558	MB14558	New Staking
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. The tenure includes multiple Mineral Claims, as defined by the Provincial Government of Manitoba. All claims are currently in good standing. Exploration access agreements and Work Permits have yet to be obtained for these new project areas.
Exploration done by other parties Acknowledgment and appraisal of exploration by other parties. Exploration within these areas stretches back to the mid-1940’s. Historical reports that record the historical exploration exist from the late 1950’s. Detailed assessment of this historical work is currently underway. Historical Assessment Reports (available from the provincial government) referencing the prospect locations and results disclosed in this report are listed below: Sherritt Gordon Mines 1986. Assessment Reports # 94004. Registry Resources Inc and Manitoba Mineral Resources Ltd 1993. Assessment Reports # 72677 and #72678.
Geology Deposit type, geological setting and style of mineralisation. Volcanogenic massive sulphide (VMS) deposits and orogenic gold deposits. VMS deposits are typically zinc dominant on the margins of the system, grading to copper (+ gold,silver) closer to the heat source structures. The Wellmet Deposit hosts both zinc dominant and copper-gold dominant horizons.

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Table 1: Checklist of Assessment and Reporting Criteria

10[th] December 2024

Historical Exploration & Prospect Locations – MacBride Project, Canada.

Criteria	JORC Code explanation	Commentary
Drill hole	A summary of all information material to the understanding	Original surface sampling and drill hole collar and survey data within the report
Information	of the exploration results including a tabulation of the	is presented in local imperial grid systems. Available down-hole survey
	following information for all Material drill holes:	information is not considered material and has not been provided.
	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	Data point location has been provided in on-line datasets provided by the Provincial Government of Manitoba.
	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	The Company is currently collating all historical data. Findings from this work
	that the information is not Material and this exclusion does	will be the subject of future disclosure.
	not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Current work is aimed at digitally capturing the historical drill and surface sampling data in a real-world coordinate system.
Data	In reporting Exploration Results, weighting averaging	No weighted average grades are reported. No assay grade cuts, or cut-off
aggregation	techniques, maximum and/or minimum grade truncations	grades, have been applied.
methods	(eg cutting of high grades) and cut-off grades are usually
	Material and should be stated.
	Where aggregate intercepts incorporate short lengths of	No weighted average grades are reported. No assay grade cuts, or cut-off
	high grade results and longer lengths of low grade results,	grades, have been applied.
	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	Metal equivalent values are not reported.
	values should be clearly stated.
Relationship	These relationships are particularly important in the	True widths have not been reported. Individual assays, representing individual
between	reporting of Exploration Results.	samples, have been reported. For drilling, the mineralised intervals
mineralisation		documented are down-hole lengths, as reported within the historical data.
widths and

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Table 1: Checklist of Assessment and Reporting Criteria

10[th] December 2024

Historical Exploration & Prospect Locations – MacBride Project, Canada.

Criteria	JORC Code explanation	Commentary
intercept
lengths
	If the geometry of the mineralisation with respect to the drill	Drill hole survey information not reported or relevant to this report.
	hole angle is known, its nature should be reported.
	If it is not known and only the down hole lengths are	All results are reported as drill hole intercepts and are down-hole lengths.
	reported, there 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	Appropriate diagrams have been included in the announcement.
	of 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.
Balanced	Where comprehensive reporting of all Exploration Results is	Comprehensive reporting of all historical exploration is not possible at this time.
reporting	not practicable, representative reporting of both low and	The information provided by the government digital datasets is selective in
	high grades and/or widths should be practiced to avoid	nature. The Company is currently collating and digitally capturing all available
	misleading reporting of Exploration Results.	historical exploration data
Other	Other exploration data, if meaningful and material, should be	Exploration reports for the project areas date back to the 1950’s.
substantive	reported including (but not limited to): geological
exploration	observations; geophysical survey results; geochemical	The Company is currently collating and digitally capturing all available historical
data	survey results; bulk samples – size and method of	exploration data for future disclosure.
	treatment; metallurgical test results; bulk density,
	groundwater, geotechnical and rock characteristics;
	potential deleterious or contaminating substances.
Further work	The nature and scale of planned further work (eg tests for	The Company is currently collating and digitally capturing all available historical
	lateral extensions or depth extensions or large-scale step-	exploration data
	out drilling).	Once this work is completed, on-going exploration activities will be defined.
		An aerial geophysical survey is currently being completed over the MacBride
		Project(ASX announcement 3rdDecember 2024). The results of this survey

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Table 1: Checklist of Assessment and Reporting Criteria

10[th] December 2024

Historical Exploration & Prospect Locations – MacBride Project, Canada.

Criteria	JORC Code explanation	Commentary
		will be announced when they become available. This survey will enable the
		accurate location of drilling to test defined targets.
	Diagrams clearly highlighting the areas of possible	All relevant diagrams have been presented in this report.
	extensions, including the main geological interpretations and
	future drilling areas, provided this information is not
	commercially sensitive.

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