CORAZON MINING LIMITED — Investor Presentation 2013

Sep 25, 2013

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Company Presentation ASX : CZN 26 September 2013

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ASX: CZN | PAGE 1
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Disclaimer & Important Information

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Forward Looking Statements

• This presentation has been prepared by Corazon Mining Limited (“Corazon”). It contains forecasts and forward looking statements which are no guarantee of future performance and which involve certain risks. Actual results and future outcomes will in all likelihood differ from those outlined herein. The presentation should not be construed as an offer or invitation to subscribe for or purchase securities in Corazon. Nor is it an inducement to make an offer or an invitation with respect to said securities.

• 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 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.

Competent Persons Statement

• The information in this report that relates to mineral exploration results from exploration at the Top Up Rise Project 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 2004 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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ASX: CZN | PAGE 2
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Multiple High Impact Opportunities

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Lynn Lake Project

Top Up Rise Project

• Nickel-copper sulphide

• Option to acquire 100%

• Development opportunity – located in an old mining centre with resources in place

• Significant high-grade exploration target

• Strategy is to position project to take advantage of improving nickel price

• Prospective for base & precious metals

• Option to earn 75%

• Very large high amplitude gravity anomaly

• Maiden drilling programme discovered copper sulphide mineralisation in all holes

• Drilling to recommence this month

Beaucage Lake Project

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Lynn Lake
Beaucage Lake
Top Up Rise
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• Gold project

• Option to acquire 100%

• Extensive surface mineralisation of a high grade tenor

• Mineralisation defined up to 1,811g/t Au and 3,805ppm Mo

• Using modern exploration techniques to define drill targets

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ASX: CZN | PAGE 3
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Corporate Overview

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Market Cap. @ 3.1 cps	A$	11M
Shares on Issue1	#	355.6M /401.5M*
Options on Issue	#	38M
Cash 2,3	A$	1.04M /3.4M*
52 week share trading range	A$	$0.02 – 0.073
Av. trading volume during drilling	A$	~$500,000/day

1. Additional shares may be issued to project vendors pursuant to project option payments. Refer to ASX announcements dated 20/12/12, 4/9/12 & 9/8/12

2. As at 30 August 2013

3. Nil Debt *** = Post Tranche 2 Placement**

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Share Price & Volume
0.08 140
Daily Volume Traded On-Market Daily Close Price
0.07
120
0.06
100
0.05
80
0.04
60
0.03
40
0.02
20
0.01
- 0
Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13
Highly responsive share price and very strong volume
(some days >100 million shares) during recent drilling.
Closing Price (A$) Million Shares
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Highly responsive share price and very strong volume (some days >100 million shares) during recent drilling. Imminent recommencement of drilling.

	Board & Management	Board & Management
	Clive Jones	Non Executive Chairman
	Brett Smith	Managing Director
	Jonathan Downes	Non Executive Director
	Adrian Byass	Non Executive Director
	Rob Orr	Company Secretary

Ownership Analysis	Ownership Analysis
Number of Shareholders	1,803
Top 20	22%
Board Ownership	4.7%
Graeme Wallis	4.4%
UBS Wealth Management	2.6%

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ASX: CZN | PAGE 4
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Current Focus: Top Up Rise Project (TUR)

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• Large gravity anomaly (10km x 6km) with widespread mineralisation confirmed by recent drilling

• Prospective for base & precious metal deposits

• High impact drilling to recommence in September

• Potential early exploration success and discovery

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Access Track
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Access Track
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TUR Gravity Anomaly & CZN drilling camp

Top Up Rise Alice Springs Project

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Perth
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Kiwirrkurra Community

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20km

TUR – “New Frontier Style Exploration”

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Remote difficult to access
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TUR – “New Frontier Style Exploration”

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The track into Top Up Rise
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TUR Project History

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Geophysics identify a significant gravity anomaly in the Gibson Desert

• 1994-2002 AGSO identified large Proterozoic intrusive alteration system at Mt Webb - associated with Cu-Au systems

• 1995-1999 BHP looking for another Olympic Dam

• 2006 (published 2008) GSWA conducts new gravity survey – identifies TUR anomaly

• 2010 Border Exploration applied for Exploration Licence

• 2011 Toro Energy announce the possible discovery of a Bayan Obo type IOCG deposit. Surface sampling – 53% Fe, 4% TRE, 275 ppm U, 639 ppm Cu

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Outcrop Geology & Topographic Map (GSWA 1:250k)
Top Up Rise
Anomaly
Toro Energy - 2011
IOCG Discovery
Lake
Mackay
BHP Billiton – 1995 -
1999
IOCG Exploration
Kiwirrkurra
Pollock Hills Community
Mount Webb
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Top Up Rise: Very Large Anomaly Regional Geophysical Data

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No Previous Ground Exploration Large, Multiple Point Anomaly Meta-sedimentary Basin Rocks

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Toro Energy
2011 IOCG
Discovery
BHP 1997
Targets
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Bouguer gravity image over High density gravity image over aeromagnetic shadow aeromagnetic shadow

Aeromagnetic image (TMI rtp 60[0] west sun)

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Detailed Ground Gravity Survey

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Anomaly Enhanced



 + 2013 Gravity Stations + 2006 Gravity Stations

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Bouguer residual gravity image over DTM
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2,139 gravity readings

400m x 100m & 800m x 200m grid

• Anomaly extended to 10km x 6km (plus 4 mGals residual)

• 18 mGal variation within dataset acquired

• 8 mGal peak residual gravity anomaly

• Gravity anomaly is fault bounded and can conform to or cross-cut geological boundaries

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Images at same scale

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Olympic Dam
Resource Outline
(MESA Journal 2001)
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Maiden Drilling Confirms Large System

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• Maiden drilling programme consisted of ~ 2,500m of RC and core drilling

• Targeted high density areas in search of pathfinders for an IOCG system

• Revealed a vast mineralised project area (drill holes up to 5km apart)

• Sulphide mineralisation discovered in every hole

• Precious and base metal association between copper, gold, silver, lead and zinc

Plus

• Lithologies prospective for magmatic Ni-Cu

Hole #	Drill Method	North (MGA52)	East (MGA52)	Av Dip	Azimuth	Total Depth
RC001	Aircore/RC	7,499,773	337,335	-90	090	196.0m
DD001	RC/Core	7,499,769	337,513	-70	090	279.7m
DD002	RC/Core	7,497,800	339,400	-60	090	328.4m
DD003	RC/Core	7,497,798	339,159	-60	090	631.9m
DD004	RC/Core	7,503,072	338,397	-90	000	669.8m
DD005	RC/Core	7,499,179	340,064	-60	090	369.7m

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Residual Gravity Anomaly over Magnetics
Planned & Completed Drill Hole Location
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Geophysical Anomaly = Mineralisation

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DD004 – Visible Chalcopyrite (Cu), Sphalerite (Zn) and Galena (Pb) mineralisation

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DD001 – Chalcopyrite (copper sulphide) mineralisation

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Residual Boundary
DD004
DD001
RC001
DD005
DD002
DD003
Tenement Boundary E80/4427
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DD003 - Banded garnet alteration and sulphide
mineralisation
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Residual Gravity Anomaly over DTM inc. Faults & Drill Hole Location

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DD003 – Massive sulphide mineralisation – pyrrhotite, pyrite, chalcopyrite

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1[st] Drill Hole Hits Mineralisation

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• Initial discovery of copper mineralisation was made in DD001 , with chalcopyrite (copper sulphide) existing as disseminated ‘blebs’

• Blebs up to 3mm in diameter and less commonly as coarser crystals on the margins of quartz veins or faults

• Chalcopyrite accounts for less than 1% of the rock mass and appears associated with an overprinting high temperature alteration event

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Multiple blebs of chalcopyrite throughout Hornblende-Quartz Gneiss
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Copper Sulphide
(Chalcopyrite)
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3[rd] Drill Hole Hits Massive Sulphides

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• DD002 was abandoned prior to target depth

 Mineralisation was improving down-hole, strong sulphide + intense alteration

 DD003 hit massive sulphides, including chalcopyrite, pyrite, magnetite and pyrrhotite in metasediments

 Mafic gabbro intersected at depth – magmatic nickel sulphide potential

Garnet Alteration + Pyrite & Chalcopyrite

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Massive Sulphide - Pyrrhotite + Pyrite & Chalcopyrite
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Pyrrhotite
Garnet Alteration + Pyrite &
Chalcopyrite Chalcopyrite
Magnetite
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3[rd] Drill Hole Hits Troctolite

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• Troctolite is a rare form of gabbro that has the potential to host magmatic nickelcopper sulphide deposits

• Pentlandite – as exsolution laminae within pyrrhotite indicates magmatic nickel source

• Best example – Voisey’s Bay in Canada Publically Stated Resources + Reserves 124.4 Mt @ 1.66% Ni (1998)

• 77.6 Mt @ 2.28% Ni, 1.19% Cu, 0.13% Co (2005)

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Micrograph
Pentlandite
Pyrrhotite
Chalcopyrite
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Micrograph
Pentlandite
Pyrrhotite
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Troctolite in drill core

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Holes 4 + 5 Intersect Similar Mineralisation

• Sulphide mineralisation, including chalcopyrite (copper), sphalerite (zinc) and galena (lead) visually identified

• The tenor of the mineralisation intersected is visually estimated to be similar to that announced for earlier drill holes

DD004 – Visible Chalcopyrite (Cu), Sphalerite (Zn) and Galena (Pb) mineralisation

• Hole DD004 has been left open and may be re-entered to test for anomaly at depth

Drill rig onsite at Top Up Rise

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Drill Sample Geochemistry

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Strong Base Metal (chalcophile) Element Correlation

 General low tenor of metals suggests distal to mineralising fluid sources  Robust Cu-PbZn-Cd-Ag+Au metal association

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Host Lithologies – Not Dense

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Dominant Lithology Quartz-Feldspathic Gneiss, Meta PlagioclaseBiotite Quartzite

• Qtz: Major

• Plag: Minor to major

• Biot: Minor to major

• Sericite: Minor to major

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Subordinate Lithology Hornblende-Quartz Gneiss

• Qtz: Major to minor

• Hbl: Minor to major

• Apatite: accessory

• Garnet: sometimes

• Clinozoisite: possible

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Host Lithologies – Not Dense

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Gabbro - Troctolite Plagioclase: Major Olivine: Major Clinopyroxene: Major to Minor Clinoamphibole: Accessory Orthopyroxene: Accessory

Plagioclase composition = Sodic Labradorite Olivine composition = MgO of 31% (hyalosiderite)

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Dense Feature At Depth?

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Top Up Rise
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From Spaggiari et al (2008) – Geological Survey of Western Australia – Record 2008/2. Interpretation of major structures and tectonic units of the western Arunta, showing outcrop locations of field observations (WAROX database). The background image is a drape of 2.5 km spaced gravity data over 1[st] vertical derivative aeromagnetic data (GSWA – Geoscience Australia datasets).

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Dense unit
Gravity
at depth Profile Curve
No dense unit Modelled
at depth Curve
Gravity Modelling Profiles
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Phase 2 Drilling: Multiple Targets Identified

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“We’ve proven the rocks have the capacity to host mineralisation … they display pervasive high temperature metasomatic alteration with associated copper sulphide mineralisation”

• Disseminated and massive sulphide within meta-sedimentary pile

• Precious and base metal association between copper, lead, zinc, +

• cadmium, silver gold

• Fertile magmatic sulphide host rocks

• Nickel-copper sulphide deposits

• Iron oxide copper gold system potential remains

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Aeromagnetic Image
Residual Boundary
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Imminent Restart of Exploration Activity

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• Analysis of recent work programme ongoing, includes:

• geochemistry,

• rock + mineral petrology

• reprocessing geophysics

• VTEM to commence this month testing for conductive units and massive sulphides

• Drilling to recommence this month

• Drill rig on site and ready to go

• Recent work will benefit drill targeting

• First time testing:

  • Fluid pathways

Proposed VTEM over Topographic Map

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• Nickel sulphide potential on back of

• VTEM survey

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Investment Rationale

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• Maiden drilling programme was very successful: proved Top Up Rise is a vast mineralised system

• Prospective for multiple types of mineralisation

• Precious and base metal association between copper, lead, zinc, cadmium, silver and gold

• Possibility of both a mafic and granite (porphyry) source for the mineralising fluids

• Troctolite + pentlandite identified = magmatic nickel-copper potential

• Source of the TUR gravity anomaly remains unexplained

• High impact Phase 2 drilling programme planned: de-risked and highly prospective target

• Drilling recommencing this month

• Corazon share price highly leveraged to drilling success

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Contacts

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Brett Smith Managing Director Corazon Mining Limited P: +61 (8) 6142 6366

James Moses

Media and Investor Relations P: +61 (0) 420 991 574

E: james@mandatecorporate.com.au

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Corazon Mining Limited

T : +61 (8) 6142 6366

A : Level 1, 350 Hay Street, Subiaco WA 6008 | P : PO Box 8187, Subiaco WA 6008 E : info@corazon.com.au | W : www.corazon.com.au

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