CORAZON MINING LIMITED — Capital/Financing Update 2024

Apr 1, 2024

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ASX ANNOUNCEMENT
2 April 2024
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Priority Large Copper-Gold Target Identified at the Mt Gilmore Project – NSW Geochemical targeting program defines high-priority May Queen porphyry copper-gold drilling target

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 defined a new, high-priority porphyry copper-gold target at the May Queen prospect within the Mt Gilmore Project

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• May Queen is a significant anomaly with a strike length of ~2km, with mineral chemistry analogous with other giant porphyry copper-gold deposits in NSW – a “Tier-1” location for larger porphyry copper deposits

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• The May Queen target is situated at the northern end of the Mt Gilmore Trend, a copper-cobalt-gold trend over 20km long, prospective for intrusion-related coppergold deposits

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• Target identified utilizing highly reliable mineral chemistry targeting methods undertaken by the Centre for Ore Deposit and Earth Sciences at the University of Tasmania

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• The May Queen target displays favourable hydrothermal alteration, along with coincident surface copper-in-soil and geophysical anomalism

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• Corazon has commenced planning for a maiden drill program at May Queen, which will include access requirements and all drilling approvals

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Corazon Mining Limited (ASX: CZN) (Corazon or Company) is pleased to announce it has defined a new, large-scale, high-priority porphyry copper-gold target at its Mt Gilmore Project (Mt Gilmore or the Project) in New South Wales (NSW), Australia.

The new May Queen target lies adjacent to the historically identified May Queen coppermagnetite skarn deposit. It is a significant feature of approximately 2 kilometres in strike, located in the northern extent of the Mt Gilmore Trend. Defined by Corazon, the Mt Gilmore Trend is a copper-cobalt gold trend in excess of 20 kilometres in length, and prospective for intrusion-related copper-gold deposits (Figure 2).

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Large, regional-scale and complex geochemical anomalies like Mt Gilmore are well suited to mineral chemistry targeting programs, rather than conventional geophysics and blind drilling. A significant geochemical program was undertaken at Mt Gilmore by the Centre for Ore Deposit and Earth Sciences (CODES) at the University of Tasmania (UTAS) to define higher confidence drill targets.

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ASX Announcement | Mt Gilmore – Porphyry Copper Exploration – 2 April 2024

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Figure 1 – Mt Gilmore – May Queen Rock Photos

• (i) Typical Mt Gilmore (weathered) massive magnetite skarn with copper oxide minerals malachite and azurite

• (ii) Sulphides within a chlorite-magnetic skarn. C = Chalcopyrite (copper) and P = Pyrrhotite/Pyrite (iron)

• (iii) Epidote-chlorite-quartz altered basement breccia with pyrite/pyrrhotite sulphides (brown spots) from within the May Queen Porphyry Copper Target

Two mineral chemistry sampling and analysis programs have been completed by CODES within the Mt Gilmore Trend. The first phase of the program successfully identified that key mineral chemical characteristics of large porphyry coppergold deposits are present at Mt Gilmore. The second phase of the program involved a more detailed study of the Project’s mineral chemistry characteristics, and has been successful in defining the high-priority May Queen drill target.

Mapping has identified favourable hydrothermal alteration and sulphide mineralisation at surface at May Queen. This is supported by strong copper-in-soil anomalism and encouraging geophysical features, such as a magnetic halo (rim) and an Induced Polarisation (IP) chargeability high (Figure 3).

This represents a highly positive outcome of CODES/UTAS’s work at the Mt Gilmore Project and has validated Corazon’s porphyry copper-gold exploration model at the Project.

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ASX Announcement | Mt Gilmore – Porphyry Copper Exploration – 2 April 2024

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Having defined May Queen as a high-priority drill target, Corazon plans to begin consultation with local landowners and key regional stakeholders, as a first step in the process to secure access to initial priority drill hole locations in the target area.

Corazon Managing Director Mr. Brett Smith stated ;

“The results of our body of work with CODES at UTAS has been a great success for the Company, and our exploration of the Mt Gilmore Project. The geochemical targeting work undertaken by CODES has helped to define strong drill targets in a complex geochemical environment. Porphyry copper-gold systems typically have large footprints and it can take a significant amount of drilling to identify the best areas to focus on. We’re hoping the targeting process completed has mitigated the need to do this. Mt Gilmore displays many characteristics typical of large porphyry copper systems, and the outcomes of the work by CODES has helped define what is interpreted as a high-priority drill target at the May Queen prospect. Drilling of the May Queen will now be a high-order priority for the Company.”

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Figure 2 – Mt Gilmore Project interpreted geology with a copper in soils geochemical image over the sedimentary/volcaniclastic basement rocks, with mineral occurrences and prospect locations.

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ASX Announcement | Mt Gilmore – Porphyry Copper Exploration – 2 April 2024

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May Queen Porphyry Copper-Gold Target

The May Queen prospect is located at the northern end of the defined Mt Gilmore Trend and remains underexplored. It is situated approximately 6.5 kilometres northwest of the Gordonbrook Hill Prospect, which was subject to Corazon’s most recent drilling, and 15 kilometres northwest of the drill-defined Cobalt Ridge Prospect to the south (Figure 2).

Historical prospecting had identified the May Queen Skarn (Figure 1 andd 3), which includes three shafts and an adit in a 300 metre x 150 metre ‘topographic window’ exposed in a valley. Rock chip and grab sampling results have returned high-grade copper and gold, associated with malachite-chalcopyrite-bornite assemblages.

The May Queen porphyry copper-gold target is centred on a strong copper anomaly (Figure 3), with a coincident moderate to strong IP chargeability geophysical anomaly, covering an area of approximately 400 metres in diameter. High IP chargeability anomalism is typically indicative of disseminated sulphides, consistent with the finegrained disseminated pyrite (iron), chalcopyrite (copper) and malachite (copper) minerals observed in mapping. This target occurs approximately 500 metres to the east of the mineralised May Queen Skarn outcrop.

The strong copper in soils geochemical anomalism (Figure 3(b)) and IP chargeability high anomalism (Figure 3(c)) is also coincident with a geophysical magnetic-low, bounded by a magnetic-high rim (Figure 3(a)). This relationship is common in these systems.

The hydrothermal history of the Mt Gilmore Trend is complex and one of the primary reasons for the engagement of expertise from the University of Tasmania. Samples from the north and south of the Mt Gilmore Trend show contrasting hydrothermal alteration assemblages.

Samples from the Project’s north (e.g. from May Queen) appear more akin to porphyry-style alterations, with distinctive occurrences of hydrothermal potassium-feldspar, biotite and magnetite, whereas the samples from the south are typical of skarn alteration, with an early prograde garnet–pyroxene assemblage, subsequent retrograde epidote–chlorite ± actinolite assemblages, and late overprinting of higher-temperature sodic and calcic plagioclase– pyroxene assemblage; and then late retrograde calcite–chlorite ± apatite ± Fe-oxide alteration.

Fertility assessment, which is a strong indicator of the likelihood of the presence of a porphyry copper-gold deposit, of minerals including epidote, chlorite, zircon, tourmaline, etc., indicate that the May Queen Prospect may host large-to-giant porphyry copper deposits.

To highlight this assessment, the analysis of the epidote chemistry of the May Queen and Gordonbrook Hill targets in the Mt Gilmore Project has been overlain with similar data from Evolution Mining’s (ASX: EVN) major Northparkes Copper-Gold Project in NSW. (Figure 4). There is significant overlap of the mineral chemistry, which supports the conclusions that May Queen has potential for porphyry copper-gold deposits, up to and including the giant category.

The discovery hole at Northparkes returned 229 metres at 0.61% copper and 0.67 g/t gold from 65 metres ( reference – “The Discovery History of the Northparkes Deposit”, Lye, Crook and van Oosterwijk. Sydney Minerals Exploration Discussion Group, 2006 ).

Next Steps

The CODES/UTAS geochemical targeting program at Mt Gilmore has been highly effective and has delivered excellent results, which established May Queen as a high priority target. Corazon has commenced planning for a maiden-drilling program. As a first step in the drill planning process, the Company will seek to engage with landowners in the Project area, as well as with regional stakeholders.

Corazon plans to commence drilling at the May Queen target as a key priority upon granting of all requisite approvals for drilling.

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ASX Announcement | Mt Gilmore – Porphyry Copper Exploration – 2 April 2024

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Figure 3 – May Queen Target Characteristics – (a) Aeromagnetic plan image, (b) Copper in soils geochemical plan image and (c) IP chargeability cross-sectional image

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ASX Announcement | Mt Gilmore – Porphyry Copper Exploration – 2 April 2024

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Figure 4 – Mt Gilmore Vs Northparkes Epidote Chemistry.

As-Sb data cloud of epidote LA-ICP-MS data from Gordonbrook Hill and May Queen areas. Abbreviation: PCDs = porphyry copper deposits. Taken from “Epidote chemistry from the Mt Gilmore Co-Cu-Au trend: Fertility assessment”. Dr L Zhang and Dr F Testa, CODES University of Tasmania, 2023. Porphyry copper deposits data used to define domain subdivision includes Black Mountain (Cooke et al., 2014), E48, Northparkes (Pacey et al., 2020), Ujina (Baker et al., 2020) and El Teniente (Wilkinson et al., 2020). Northparkes epidote reference data (green data points) after Pacey et al., 2020.

Mt Gilmore Geology Commentary

The surface anomalism for metals at Mt Gilmore covers a large area (Figure 2). The recognition of the surface expression of a large hydrothermal system of more than 20 kilometres in strike (ASX announcement 5 February 2019), possibly associated with mineralised intrusive rocks (ASX announcement 9 October 2020), presents an exciting exploration opportunity for Corazon. Recent work by CODES/UTAS (ASX announcements 12 July 2022 and 4 October 2022) has supported the potential for innovative Mineral Chemistry Vectoring Studies to define the location of heat centres of Mt Gilmore’s hydrothermal system.

The results from the CODES/UTAS studies at the May Queen and Gordonbrook Hill target areas at Mt Gilmore have been impressive. The May Queen prospect has a strong skarn signature, trending to a porphyry system and notably into the “giant” porphyry copper deposit category, while Gordonbrook Hill displays both a large porphyry copper deposit and skarn style signature.

Field mapping undertaken as part of the CODES/UTAS work focused on an area between Gordonbrook Hill, to north of the May Queen prospect (ASX announcement 4 October 2022). Approximately 55 sites were sampled and more than 180 kilograms of rock samples were sent to University of Tasmania laboratories. The final analysis, assessment and interpretations from these samples have now been received, and have confirmed the large-scale, high-priority coppergold porphyry potential of the May Queen target.

Further information on the work program undertaken by CODES/UTAS at the Mt Gilmore Project are provided in the Company’s ASX announcements dated 4 October 2022 and 12 July 2022.

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ASX Announcement | Mt Gilmore – Porphyry Copper Exploration – 2 April 2024

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Figure 5 – Mt Gilmore Project Location

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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About Corazon

Corazon Mining Limited (ASX: CZN) is an Australian mineral resources company with a portfolio of critical minerals projects in Australia and Canada. The Company’s core commodities focus – nickel sulphide, copper and cobalt – positions it to take advantage of the massive demand for metals which are critical inputs for the booming global rechargeable battery sector.

Corazon’s core asset is the Lynn Lake Nickel-Copper-Cobalt Sulphide Project (Lynn Lake) in Manitoba Province,

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ASX Announcement | Mt Gilmore – Porphyry Copper Exploration – 2 April 2024

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Canada. Corazon has consolidated the entire historical mining centre and surrounding tenure under its sole ownership – the first company to do so in this major nickel producing district since mine closure in 1976. Lynn Lake hosts a large JORC compliant nickel-copper-cobalt resource and presents Corazon with a major development opportunity that is becoming increasingly prospective due to increases in metal prices, and their strong demand outlooks as core components in the emerging global rechargeable battery industry.

In Australia, Corazon is exploring the Miriam Nickel-Copper Sulphide and Lithium Project (Miriam) in Western Australia and the Mt Gilmore Cobalt-Copper-Gold Sulphide Project (Mt Gilmore) in New South Wales.

Miriam is a highly prospective nickel sulphide exploration project and is a strategic addition to Corazon’s nickel sulphide asset portfolio. Recent exploration by Corazon has also identified the potential for lithium (spodumene) bearing pegmatites at the Miriam Project (ASX announcement 29 March 2023). In a transaction worth potentially A$9.5 million, Corazon has agreed to sell an 85% interest in wholly owned subsidiary Coolgardie Nickel Pty Ltd, which holds the lithium and industrial minerals rights for the Miriam Project, to Future Battery Minerals Limited (ASX announcement 25 March 2024). Corazon will retain the base and precious metal rights and be free carried on lithium exploration and development costs until the completion of a Definitive Feasibility Study.

Mt Gilmore is centered on a regionally substantive hydrothermal system with extensive copper, cobalt, silver and gold anomalism, including high-grade rock chip samples over a strike of more than 20 kilometres. Mt Gilmore also hosts the Cobalt Ridge Deposit - a unique high-grade cobalt-dominant sulphide deposit. The University of Tasmania has been engaged to undertake “mineral geochemistry vectoring analysis”, which utilises proprietary science designed to identify the location of the heat source of “large porphyry copper deposit(s)”, that the University expert geologists believe are the cause of the surface mineralisation/alteration at Mt Gilmore.

Competent Persons Statement

The information in this report that relates to Exploration Results and Targets is based on information compiled by Dr Ben Li, Member AIG and an employee of Corazon Mining Limited. Dr Li 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”. Dr Li consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

The information on mineral geochemical results and mineral vectoring studies has been produced and provided by Dr Lejun Zhang and Dr Francisco J. Testa from the Centre for Ore Deposit and Earth Sciences (CODES) at the University of Tasmania. Both Dr Zhang and Dr Testa are experts in the field of both porphyry copper and skarn hydrothermal mineral systems.

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 forward-looking 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

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ASX Announcement | Mt Gilmore – Porphyry Copper Exploration – 2 April 2024

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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 forward-looking 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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2[nd] April 2024

Table 1: Checklist of Assessment and Reporting Criteria

Mt Gilmore Project, New South Wales, Australia.

Mineral Vectoring Geochemical Analysis – April 2024

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling	 Nature and quality of sampling (eg cut channels, random chips, or	Selected drill core and surface rock chip samples were sampled for
techniques	specific specialised industry standard measurement tools appropriate	submission to CODES for analytical testwork, in addition to standard
	to the minerals under investigation, such as down hole gamma	whole-rock analysis which were submitted to an independent certified
	sondes, or handheld XRF instruments, etc). These examples should	Australian laboratory for analysis (not reported within).
	not be taken as limiting the broad meaning of sampling.
	 Include reference to measures taken to ensure sample representivity	Core drilling was conducted with HQ and NQ3 core size. Sampling of the
	and the appropriate calibration of any measurement tools or systems	core for mineral chemistry research include slices of core of between 10
	used.	to 20 centimetres long and 1 centimetre thick.
	 Aspects of the determination of mineralisation that are Material to the Public Report.	Rock samples were slabbed using an industry standard core saw.
	 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,	All samples for mineral chemistry research were submitted to the University of Tasmania for preparation, and prepared for testwork as required by CODES, independent of the Company’s requirements.
	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.
Drilling	 Drill type (eg core, reverse circulation, open-hole hammer, rotary air	Both drill core and rock chip samples were submitted for testing.
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple
	or standard tube, depth of diamond tails, face-sampling bit or other	Core drilling has been undertaken by Universal Drilling from Casino,
	type, whether core is oriented and if so, by what method, etc).	NSW, utilizing a truck mounted rig. Equipment details include:
		 UDR 1000 drill rig
		 3m length HQ and NQ rods, HQ bit and NQ3 bit. A typical core
		run is 3m.
Drill sample	 Method of recording and assessing core and chip sample recoveries	Drill core and rock chip samples submitted for miner chemistry research
recovery	and results assessed.	were representative of insitu material (100% recovery).
	 Measures taken to maximise sample recovery and ensure

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2[nd] April 2024

Table 1: Checklist of Assessment and Reporting Criteria

Mt Gilmore Project, New South Wales, Australia.

Mineral Vectoring Geochemical Analysis – April 2024

Criteria	JORC Code explanation	Commentary
	representative nature of the samples.
	 Whether a relationship exists between sample recovery and 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	Core samples have been geologically and geotechnically logged by the
	geotechnically logged to a level of detail to support appropriate	Company’s Principal Geologist.
	Mineral Resource estimation, mining studies and metallurgical studies.  Whether logging is qualitative or quantitative in nature. Core (or	Qualitative and quantitative logging was completed by the Company’s Principal Geologist.
	costean, channel, etc) photography.	Logging is of a standard that supports appropriate Mineral Resource
	 The total length and percentage of the relevant intersections logged.	estimations, mining studies and metallurgical studies to be undertaken.
		Information recorded from logging are both measurable and descriptive.
		This includes (but is not restricted to) recording of lithology, alteration,
		mineralogy, weathering characteristics, geotechnical and structural
		features, textural and interpretive information.
		All drill core is fully logged. Wet and dry core photos were taken by the
		field technician before being cut and sampled.
Sub-sampling	 If core, whether cut or sawn and whether quarter, half or all core	In regards to this announcement, there have been no alteration of the
techniques	taken.	drill core or rock samples via the sampling techniques.
and sample preparation	 If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.  For all sample types, the nature, quality and appropriateness of the	Sampling was determined by geological logging. Samples for rock and drill core were prepared using an industry standard core saw.
	sample preparation technique.	Samples for mineral chemistry research include 10 to 20 centimetres
	 Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	long 1 centimetres thick core and rock slabs cut by an industry standard core saw. These samples were carefully examined by an optical
	 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.	microscope and the Advanced Mineral Identification and Characterization System (AMICS) to determine the paragenesis and suitable domains for further mineral chemistry analysis. Suitable domains were cut, polished and mount with epoxy for epidote and chlorite mineral chemistry analyses by Laser Ablation Inductively Coupled Plasma Mass Spectrometry (LA-ICP-MS). The detailed analytical process is described
		on article: Cooke et al.,2020. UsingMineral Chemistryto Aid

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2[nd] April 2024

Table 1: Checklist of Assessment and Reporting Criteria

Mt Gilmore Project, New South Wales, Australia.

Mineral Vectoring Geochemical Analysis – April 2024

Criteria	JORC Code explanation	Commentary
		Exploration: A Case Study from the Resolution Porphyry Cu-Mo Deposit,
		Arizona. Economic Geology, 115(4). 813-840.
		doi:10.5382/econgeo.4735
Quality of	 The nature, quality and appropriateness of the assaying and	The mineral chemistry laboratory at the University of Tasmania is an
assay data	laboratory procedures used and whether the technique is considered	independent research laboratory of the highest standard.
and laboratory tests	partial or total.  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	Sampling and analytical methods are monitored by experts and of a high standard. Rock and core samples were couriered from site by company representatives and received by Coordinators of the study program.
	derivation, etc.	Analytical standards prescribed to by CODES support research quality
	 Nature of quality control procedures adopted (eg standards, blanks,	testwork.
	duplicates, external laboratory checks) and whether acceptable levels
	of accuracy (ie lack of bias) and precision have been established.
Verification of	 The verification of significant intersections by either independent or	Drilling is being managed by the Principal Geologist with experience in
sampling and	alternative company personnel.	deposits consistent with the style of mineralisation at Gordonbrook Hill.
assaying	 The use of twinned holes.  Documentation of primary data, data entry procedures, data	The reported drill holes have not been twinned.
	verification, data storage (physical and electronic) protocols.	All data is captured electronically on site and transferred to backup
	 Discuss any adjustment to assay data.	facilities. All paper information is captured electronically and stored digitally and in paper format.
		No adjustment to primary assaying has been undertaken.
Location of	 Accuracy and quality of surveys used to locate drill holes (collar and	Drill hole collar locations were surveyed using a Garmin handheld
data points	down-hole surveys), trenches, mine workings and other locations	GPSmap 64s (approximately ± 3m accuracy) utilising the GDA94 (Zone
	used in Mineral Resource estimation.	56) datum. Downhole surveying of holes was undertaken nominally every
	 Specification of the grid system used.	25-30 metres per single-shot to monitor the in-time deviation and 10
	 Quality and adequacy of topographic control.	meters interval multi-shot of the whole hole as the end of hole survey
		using a Axis True-North Seeking Solid State Champ GYRO (accuracy:
		azimuth ± 0.75º, inclination ± 0.15º).
		The Company considers the accuracy of the x, y and z coordinates of the
		underground drillingto be very good. While the x andycoordinates for

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2[nd] April 2024

Table 1: Checklist of Assessment and Reporting Criteria

Mt Gilmore Project, New South Wales, Australia.

Mineral Vectoring Geochemical Analysis – April 2024

Criteria	JORC Code explanation	Commentary
		the surface drilling are very good, a more accurate and up to date DTM is
		required to define the z values.
Data spacing	 Data spacing for reporting of Exploration Results.	Data spacing is variable.
and distribution	 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 estimation procedure(s) and	No determination has yet been made regarding data spacing and whether sample distribution is sufficient for resource estimation.
	classifications applied.	No sample compositing has been applied.
	 Whether sample compositing has been applied.
Orientation of	 Whether the orientation of sampling achieves unbiased sampling of	Rock samples and drill holes are widely spaced and targeted areas of
data in	possible structures and the extent to which this is known, considering	geochemical and geophysical anomalism. Mineralised zones have not
relation to	the deposit type.	been defined. The orientation of sampling is considered unbiased
geological	 If the relationship between the drilling orientation and the orientation	sampling. There is no data that supports a bias for the sampling has
structure	of key mineralised structures is considered to have introduced a	been established.
	sampling bias, this should be assessed and reported if material.
Sample	 The measures taken to ensure sample security.	Sample security on site is overseen by geologist the Company’s
security		Principal Geologist in charge of the drilling program.
		Individual samples are collected in plastic bags, before being bundled
		together into sealed in large PVC bags and sealed with security tags for
		transport to the laboratory via a recognised freight service.
Audits or	 The results of any audits or reviews of sampling techniques and data.	No audit of results has yet been undertaken.
reviews

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2[nd] April 2024

Table 1: Checklist of Assessment and Reporting Criteria

Mt Gilmore Project, New South Wales, Australia.

Mineral Vectoring Geochemical Analysis – April 2024

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 including	The Mount Gilmore Project includes a single Exploration Licence
tenement and	agreements or material issues with third parties such as joint	(EL8379) located in New South Wales, Australia. The lease was granted
land tenure	ventures, partnerships, overriding royalties, native title interests,	on 23rdJune 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	EL8379 is owned 80% by Corazon Mining Limited subsidiary Mt Gilmore Resources Pty Ltd and 20% by Providence Gold and Minerals Pty Ltd.
	known impediments to obtaining a licence to operate in the area.	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 ago with small scale mining being completed in the late 1870’s
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 commenced 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 Co-Cu-Au system along the Mt Gilmore trend.
Geology	 Deposit type, geological setting and style of mineralisation.	The Project lies along the eastern margin of the New England Orogen at
		the boundarybetween the Coffs Harbour Block and the Clarence Moreton

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Table 1: Checklist of Assessment and Reporting Criteria

2[nd] April 2024

Mt Gilmore Project, New South Wales, Australia.

Mineral Vectoring Geochemical Analysis – April 2024

Criteria JORC Code explanation	Commentary
	Basin. The Coffs Harbour Block is represented in the area as the Siluro- Devonian Silverwood Group. The entire sequence has been interpreted as a regional subduction complex. Silverwood Group includes marine volcaniclastic, clastic and volcanic rocks. Petrology studies of the Gordonbrook Hill Prospect in identified a diorite porphyry intrusion outcropped at the edge of the pre-defined Gordonbrook Hill Cu-Au in soils anomaly and IP chargeability anomaly. Mineral analysis on the diorite porphyry sample revealed moderate-strong potassic alteration and existence of chalcopyrite further confirmed the potential of porphyry-related Cu-Au mineralisation at the Gordonbrook Hill Prospect.
Drill hole Information  A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: 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.	Drill hole survey information for drilling completed by Corazon Mining Limited at the Gordonbrook Hill Prospect is provided in the table below. Hole ID Easting Northing RL AZI_UTM Dip Depth GBHDD001 466665.8 6748163 142 331 -58 425.2 GBHDD002 466661 6748253 135 108 -56 416.2 Gordonbrook Holl Drilling – June to August 2021 All measurements in meters. Location datum GDA94 – Zone 56 Hole Prefixes: GBHDD = diamond core drilling Downhole survey data is not reported within and is not considered material to this report.
Data aggregation methods  In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high 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	No data aggregation has been reported in this announcement and no adjustment to primary assaying has been undertaken. For reporting significant intersections, all averaging over intervals is calculated on an individual interval weighted average basis. Parametres

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2[nd] April 2024

Table 1: Checklist of Assessment and Reporting Criteria

Mt Gilmore Project, New South Wales, Australia.

Mineral Vectoring Geochemical Analysis – April 2024

Criteria	JORC Code explanation	Commentary
	such aggregations should be shown in detail.	and criteria for calculating intervals are defined within the notes of tables
	 The assumptions used for any reporting of metal equivalent values	presented.
	should be clearly stated.	All averaging over intervals is calculated on an individual interval
		weighted average basis from the primary (initial) assay data. No bottom-
		cuts or top-cuts have been applied.
		Parametres and criteria for calculating intervals are defined within the
		notes of tables presented
		Metal equivalent values are not reported.
Relationship	 These relationships are particularly important in the reporting of	Drill holes are planned to test a geophysical anomaly which is potentially
between	Exploration Results.	related with an interpreted blind porphyry copper mineralisation target.
mineralisation widths and intercept lengths	 If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.  If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true	The geometry of the mineralisation with respect to the drill hole angle is unknown. Azimuths and dips are variable, dependent on the targets being tested.
	width not known’).
Diagrams	 Appropriate maps and sections (with scales) and tabulations of
	intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of	Appropriate diagrams have been included in the announcement.
	drill hole collar locations and appropriate sectional views.
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	Historical exploration results have been previously reported by Corazon
substantive	including (but not limited to): geological observations; geophysical	Mining Limited. This work included rock-chip sampling, soil
exploration	survey results; geochemical survey results; bulk samples – size and	geochemistry and geophysics. Reliance has been placed on historical
data	method of treatment; metallurgical test results; bulk density,	reports as an indicator of potential only.
	groundwater, geotechnical and rock characteristics; potential
	deleterious or contaminating substances.

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2[nd] April 2024

Table 1: Checklist of Assessment and Reporting Criteria

Mt Gilmore Project, New South Wales, Australia.

Mineral Vectoring Geochemical Analysis – April 2024

Criteria	JORC Code explanation	Commentary
Further work	 The nature and scale of planned further work (eg tests for lateral	Additional sampling, mineral chemistry analyses and deep geophysical
	extensions or depth extensions or large-scale step-out drilling).	surveys will provide a better understanding of the location and direction
	 Diagrams clearly highlighting the areas of possible extensions,	of the mineralised centre and mineralisation processes that will be used
	including the main geological interpretations and future drilling areas,	in future interpretation and modelling at Gordonbrook Hill.
	provided this information is not commercially sensitive.	All relevant diagrams have been presented in this report.

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