CORAZON MINING LIMITED — Investor Presentation 2013

Apr 3, 2013

Corazon Mining Limited

Corporate Presentation - April 2013

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Multiple High Impact Opportunities

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Lynn Lake Project

Top Up Rise Project

• Prospective for IOCG mineralisation

• Nickel / copper sulphide

• Option to acquire 100%

• Option to earn 75%

• Development opportunity – old mining centre with resources in place

• Very large untested gravity anomaly

• Geophysics underway throughout March and April

• Significant high-grade exploration target

• Position project to take advantage of improving nickel metal prices

• Drilling on track to commence in May - provides potential for a transformational discovery

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Lynn Lake
Beaucage Lake
Top Up Rise
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Beaucage Lake Project

• Gold project

• Option to acquire 100%

• Extensive surface mineralisation – high grade tenor

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

• Using modern exploration techniques to define drill targets

Exploration on all projects fully funded with existing cash

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Corporate Overview

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Capital Structure	Capital Structure	Capital Structure
Current Share Price	A₵	4.0
Shares on Issue	#	290.5M
Options on Issue1	#	81.5M
Market Capitalisation	A$	11.6M
Cash2	A$	3.2M
Debt	A$	Nil

1. All options out of the money

2. Includes receivables and investments as at 31 March 2013

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

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Share Price & Volume
0.08 35
Daily Volume Traded On-Market Daily Close Price
0.07
30
0.06
25
0.05
20
0.04
15
0.03
10
0.02
5
0.01
- 0
Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13
Ownership Analysis
• Number of Shareholders 1,200
• Top 20 27.38%
• Board Members 4.2%
• UBS Wealth Management 3.19%
Closing Price (A$) Million Shares
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Current Focus: Top Up Rise Project (TUR)

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Potential for a Very Large Discovery

• Large undrilled gravity anomaly

• IOCG or intrusive copper-gold target

• Nearest outcrops anomalous in IOCG metals

• Target deposit-style typically very large (e.g. Olympic Dam and Prominent Hill)

• Low cost entry to a project with potential for very large rewards

Exploration Fully Funded

• $3.2m in cash and receivables

• Initial TUR Project exploration to cost <A$1m

Work Program

• Access permits Received

• Ground gravity survey Underway  Maiden drilling program May

Aeromagnetic Interpretation over Gravity High Image

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TUR: New Exploration Territory

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Recent Geophysics Identifies Very Large Gravity Anomaly in Gibson Desert

• Remote and under cover

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

• 1995-1999 BHP looking for another Olympic Dam in region

• 2006 (published 2008) GSWA conducts new gravity survey – identifies 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 – 1997-
1999
IOCG Exploration
Kiwirrkurra
Pollock Hills Community
Mount Webb
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Top Up Rise: Very Large Anomaly TUR: Very Large Anomaly

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No Previous Ground Exploration

Large, Multiple Point Anomaly

Dense, but Not Mafic?

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Toro Energy
2011 IOCG
Discovery
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BHP 1997 Targets

Bouguer gravity image over aeromagnetic shadow

High density gravity image over aeromagnetic shadow

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

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TUR: Significant Gravity Anomaly

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Large Amplitude Gravity Anomaly

• Target model type: Olympic Dam IOCG + REE + U

• Very high peak residual anomaly

• Anomaly has similar size footprint to the Olympic Dam Cu-Au-U gravity anomaly

• Closest regional outcrop anomalous in IOCG pathfinders: Haematite, REE, Cu, Au and U

• Adjacent to a major Proterozoic granite alteration system

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Selected IOCG Deposits	Mt	%Cu	g/t Au	g/t Ag	ppm U3O8	% Fe
Olympic Dam	8,330	0.80	0.76	3.95	280
Prominent Hill	200.3	1.23	0.5	3.0
	85.2		1.5	1.0
Carapateena	203	1.31	0.56	6	270
Hillside	170	0.70	0.20
Wilcherry Hill	+60	minor	minor			31
Cairn Hill	14	0.20	0.10			50

References:- http://www.ozminerals.com/Media/docs/201104_Carrapateena_Resource_Statement_Explanatory-Notes-184cc8c7-f72a-48d8-ae2b-022520f9aeb9-0.pdf; http://www.ozminerals.com/Media/docs/20101109_PH-RRStatements-Explanatory-Notes-cea975ce-f4a4-4396-a1b8-c709dd4eef22-0.pdf; http://en.wikipedia.org/wiki/Iron_oxide_copper_gold_ore_deposits.

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TUR: Next Steps

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The exploration program in 1[st] half of 2013 will provide potential for a transformational discovery

Ground Geophysics

• Access Permit & Heritage Clearances received

• Ground geophysics underway (will complete mid-April)

• Drill targets will be determined through this program

Drill Program

• Drilling (~2,000m) to commence in May 2013

• Drill rig secured for program

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TUR: Current Ground Gravity Survey

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Outline of proposed
ground gravity survey
Outline of GSWA
gravity high anomalies
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Detailed Ground Gravity Survey In Progress

• 1,850 gravity stations proposed

• Estimated 3 weeks work in total

• Preliminary results suggest:

• Gravity response in detailed survey supports existing gravity high values from regional gravity data

• 15 mGal variation within dataset acquired to date

• Gravity response appears to be mapping geology and structure

• Anomalous zones appear shallow

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Preliminary Field Data
current ground gravity
survey as at 3 April 2013
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Bouguer gravity image over aeromagnetic shadow

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TUR: Acquisition Terms

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Conditions	Due diligence completed and shareholder approval granted (Brett Smith is a Director
Precedent	and Shareholder of the Vendor); Ministerial Access Permit received
Stage 1	Corazon to earn 10% in Border Exploration Pty Ltd for:
	 15 million CZN shares + 15 million CZN options
	(3 years @ 134% of the 5 day VWAP at issue)
	 Reimbursement of costs up to $250,000
	 Minimum work program to be completed within 2 years.
Stage 2	Corazon to earn a further 41% (total of 51%) within 4 years by:
	 Paying the vendors $200,000 in cash, and either
	 Defining a JORC compliant Mineral Resource and completing a Scoping Study; or
	spending a minimum of $4 million on exploration; and then
	 Issuing Vendors with 33 million Corazon shares.
Stage 3	Corazon to earn a further 24% (total of 75%) in Border by:
	 Completing a definitive feasibility study on the TUR Project
	 Cash or share consideration calculated with reference to a sliding scale, based on
	Corazon’s market capitalisation at the time.
Free Carry	The vendors of Border will be free carried until a decision to mine is made
Production	Upon Corazon making a decision to mine the TUR Project, the vendors and Corazon
JV	will form a formal production joint venture. A pre-emptive right will exist between
	the parties to the joint venture.

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Canadian Projects Underpin CZN Value

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Lynn Lake Mining District

Brownfields exploration

Excellent infrastructure

Potential fast-track to development
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Canadian Projects – Lynn Lake Overview of Canadian Projects

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Barrington Lake
MacLellan Gold Mine Farley Gold Mine Copper Deposit
(historical production
(2M oz resource)
213 koz)
Beaucage Lake
Gold Project
Ruttan Cu-Zn
Leaf Rapids
Mine (historical
Township
production 55Mt @
1.23%Cu, 1.41%Zn)
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Lynn Lake Nickel-Copper Sulphide Project

• Option to acquire 100% of project – October 2015

• Ni-Cu resources and drill defined potential

• Development opportunity

Beaucage Lake Gold Project

• Extensive high-grade gold mineralisation defined

• Peaking at 1,811 g/t Au & 3,805 ppm Mo

• Past exploration focused on outcrops; project extensively under cover

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Lynn Lake: Historical Mining Centre

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Historical Production

• Sheritt Gordon 23 year operation: 19531976

• Production: 22.2 Mt @ 1% Ni & 0.5% Cu

• Maximum mining depth to 1,100m below surface

• +85% recovery for all metals

Current Resources

• Corazon – EL Plug:  1.8Mt @ 0.8% Ni, 0.4% Cu & 0.02% Co

• Prophecy Platinum* – A Plug:

• 31Mt @ 0.55% Ni & 0.30% Cu

• Interim Inferred @ 0.6%NiEq cut-off

• *TSX listed company with resource alongside Corazon’s resource

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CZN’s Mineral Claim Outline
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Regional Geology Interpretation
Ni-Cu deposits
Zn-Cu deposits
A Plug
EL Plug
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Lynn Lake Mining Centre – Nickel-Copper Lynn Lake Mining Centre

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The EL Deposit: Exploration Target* EL Deposit: Exploration Target

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UPPER ZONE Tonnage Range Drill Defined
0 - 200m below surface From To Mineralisation Historical
(not included in Workings
Low cost opencut mining option 2,200,000 2,600,000 resource)
Grade Range Contained Metal Range
Metal
From To From To
Conceptual
Nickel 0.7 0.7 15,000 17,000 Pit shell
Copper 0.3 0.3 6,000 7,000
Cobalt 0.01 0.01 200 300
MID ZONE Tonnage Range
200 - 800m below surface From To Inferred Resource
(+0.6% Ni)
Inferred Resource area 2,100,000 2,100,000
Conceptual Mine
Grade Range Contained Metal Range Development
Metal
From To From To
Nickel 0.8 0.8 16,000 16,000
Copper 0.4 0.4 8,000 8,000
Cobalt 0.02 0.02 500 500
LOWER ZONE Tonnage Range
800m - 1200m below surface From To
New sulphide breccia discovery 900,000 2,800,000 Development Concepts
X-Section Looking East
Grade Range Contained Metal Range
Metal
From To From To
Nickel 2.4 3.8 21,000 106,000
Copper 0.9 1.4 8,000 40,000
Cobalt 0.06 0.11 500 3,200 Lower Zone Target
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• This Exploration Target is conceptual in nature, there has been insufficient exploration (namely drilling) to define a mineral resource and it is uncertain if further exploration will result in the determination of a mineral resource.

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The EL Deposit: Depth Potential EL Deposit: Depth Potential

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-700 mbs

Discovery Hole XND001W1 23.75 m @ 3.34% Ni & 1.54% Cu

Deepest Result CRZ012 -800 mbs 44.75m @ 1.55%Ni & 0.65%Cu Including:- 3.85m @ 2.83%Ni & 0.24%Cu 11.03m @ 2.31%Ni & 1.01%Cu 11.51m @ 2.37%Ni & 0.78%Cu

Drill hole Cross-Section Looking West – 25m grid pattern

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Beaucage Lake Gold Project

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Strong Value Proposition

• Option to purchase 100% of project

• High grade gold mineralisation in outcrop over 7 - 8 kilometre strike

• Close to existing operations

• No comprehensive recent exploration – mostly mid-late 1980’s work

• Minimal project holding costs or expenditure requirements

Prospects, Historical Geophysical Targets & Drilling

Post-1990 Rockchip Channel & Grab Sampling Results

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High Impact Work Program

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Multiple Opportunities to be tested in 2013 (and fully funded):

• Copper-Gold Australia: Potential for transformational discovery

• Nickel-Copper Canada: Development potential

• Gold Canada: High grade gold identified, drilling Q3 2013 after TUR drilling

2013 Proposed Exploration	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Top Up Rise Copper Gold Ministerial Access Permit
Heritage Clearances
Ground Geophysics
Drilling (phase 1)
Drilling (phase 2)							contingent on results
Lynn Lake Nickel Copper MiningStudies
Downhole EM - EL Mine
Beaucage Lake Gold Reconnaissance Exploration
Geophysics
Drilling

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Investment Rationale

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Multiple High Impact Opportunities & Significant Leverage

• Gold-Copper Australia: Option to Earn 75%

 Unique opportunity with huge upside

• Ground geophysics underway

 Drilling (~2,000 metres) to commence in May 2013

• Nickel-Copper Canada: Option to Acquire 100%

 Development potential

 Existing resource and significant exploration target

 Project leveraged to improving nickel metal prices

• Gold Canada: Option to Acquire 100%

 Extensive surface mineralisation showing high grade gold

 Modern exploration techniques to be used

 Drilling to commence in Q3 2013

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Disclaimers & 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 nonoccurrence of any events.

Exploration Target

• This Exploration Target is conceptual in nature, there has been insufficient exploration (namely drilling of verifiable quality) to define a mineral resource and it is uncertain if further exploration will result in the determination of a mineral resource. The Exploration Target has been estimated to a depth of 1,200 metres below surface. It follows the discovery of a high-grade nickel sulphide breccia at depth below the historic EL Mine, as well as the recognition in historical drilling of a substantial amount of near surface low-grade mineralisation.

• The basis for this target for the EL Deposit includes:

• Historical mining at the deposit to a depth of 210 metres below surface

• Historical mine development to at least 270 metres below surface

• Underground exploration drilling, sampling and mapping to a depth of approximately 600 metres below surface

• The regional mining and development depth for the Lynn Lake camp is approximately 1,200 metres

• There has been approximately 72,300 metres of historical surface and underground drilling complete

• At the date of definition of the Exploration Target, Corazon Mining Limited had completed in excess of 10,700 metres of surface drilling

• Good continuity and predictability of geology down-plunge

• Geological evidence for a deep-seated, explosive mineralising event.

• Past exploration and mining records for the EL Mine are extensive and reflects high standards of work. The zones defined in the Exploration Target include the Upper, Mid and Lower Zones. The Upper Zone includes lower grade material that has the potential to be exploited from lower cost mining methods such as open pit mining. This zone extends to 200 metres below surface. The Mid Zone is the area between 200 and 800 metres below surface, and covers an area defined predominantly by the current Inferred Resource (reported at a 0.6% Ni equivalent[2] bottom cut-off grade). The Lower Zone extends from 800 metres to 1,200 metres below surface, the latter being the maximum depth at which historical underground development was conducted.

Competent Persons Statement

• The information in this report that relates to mineral Resources or Reserves is based on information compiled by Mr Andrew John Thompson, B.Sc Hons (Geol), Member AusIMM and a consultant to Corazon Mining Limited. Mr Thompson 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 Thompson 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 in this report that relates to Exploration Results 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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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

Corazon Mining Limited

A : Level 1, 350 Hay Street, Subiaco WA 6008 | P : PO Box 8187, Subiaco WA 6008 T : +61 (8) 6142 6366 | E : info@corazon.com.au | W : www.corazon.com.au

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