CORAZON MINING LIMITED — Investor Presentation 2013

Jan 13, 2013

Investor Update

NEWSLETTER

Issue 6 | January 2013

From the Managing Director

Welcome to the January issue of the Corazon Mining Investor Update newsletter. I would like to commence the New Year by thanking all shareholders for their past and continued support. Despite the challenges provided by difficult conditions in financial markets, 2012 was another year of progress for Corazon and our expanding portfolio of projects in Canada and Australia. Our activities in the second half of 2012 have set the Company up for an exciting year in 2013.

At our lead asset, the Lynn Lake Nickel Sulphide Project in Canada, we successfully negotiated new and improved terms for the acquisition of the project. The new terms extend the option period to acquire the project and reduced the acquisition cost, providing an overall positive outcome for Corazon.

Our strategy throughout 2012 was to progress exploration at our Lynn Lake project in a cost effective manner while consolidating a long term position in the region. On this front, we added a number of new assets to our project portfolio in the Lynn Lake mining district. The acquisitions are synergistic with the core nickel sulphide project and confirm Corazon’s position as the largest landholder in the region.

Closer to home, in October we announced details of an exciting new copper-gold acquisition in north-eastern Western Australia. The asset is called the Top Up Rise Project and it represents a significant early-stage exploration opportunity. A Land Access Agreement has been completed, and we look forward to commencing exploration at the project in 2013.

Details of these new projects are provided in this Investor Update. We look forward to bringing you news of our development and exploration activities throughout the New Year and, on behalf of the Corazon team, I extend our thanks for your continued support of the Company.

Brett Smith Managing Director Corazon Mining

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ASX: CZN
In this issue
• Update on progress at the Lynn Lake
Nickel Sulphide Project
• Details of the expansion of ground position
at Lynn Lake
• New gold project acquired in Canada
• Top Up Rise Copper-Gold acquisition in
Western Australia
• Details on the Land Access Agreement for
Top Up Rise
Investment highlights
4 Company’s core project, the Lynn Lake Nickel
Sulphide Project, presents a major
development opportunity
4 High-grade discovery at the EL Deposit within
the Lynn Lake project area, including 23.75 m
@ 3.34% Ni, 1.54% Cu & 0.079% Co
4 Strong regional footprint in Canada
4 Major early stage copper-gold project
acquired in WA
4 Top Up Rise Project hosts one of Australia’s
largest untested residual gravity anomalies,
similar size to Olympic Dam
4 Highly experienced board and management
team
“Corazon Mining aims to establish itself as a
leading diversified junior resources company.
The goal is to deliver significant value to our
shareholders through the targeted exploration
and development of our highly prospective
project portfolio in the Lynn Lake region of
central Canada and through the newly acquired
Top Up Rise project in Australia.”
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Lynn Lake Project Update

Corazon remains highly committed to its core asset, the Lynn Lake Nickel Sulphide Project, in the Canadian province of Manitoba and in August 2012 announced new and improved terms for its option to acquire the project.

The new terms include a three year extension to the acquisition date and a reduced consideration. The renegotiated agreement was implemented in response to the prevailing challenging conditions in financial markets.

The new acquisition terms include:

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Core sample from the Lynn Lake Project

• Option period to acquire the project extended from 20 October 2012 to 20 October 2015;

• Payment of C$100,000 per annum for each annual extension period;

• Acquisition cost reduced from C$2M to C$1M, plus C$750,000 payable on achievement of specified performance hurdles.

The original agreement provided Corazon with an option to acquire 100% ownership of the Lynn Lake Project by spending C$3 million on exploration and paying C$2 million in cash prior to 20 October 2012. The Company has satisfied its earn-in requirements for the project, having expended in excess of C$3M on exploration since mid-2010.

The Lynn Lake Nickel Sulphide Project represents a significant development opportunity for Corazon. The key target within the project area is the EL Deposit, which historically was the highest grade deposit at Lynn Lake and produced 1.9 Mt @ 2.5% nickel and 1.15% copper. In 2010 Corazon discovered a high-grade sulphide breccia at depth below the EL Mine. This discovery attests to the prospectivity of the project area.

Lynn Lake is Canada’s third largest nickel mining region and has historically produced 22 Mt of nickel, copper and cobalt ore. The area is well serviced with infrastructure, with the Thompson Nickel Refinery and the Flin Flon zinc-copper refineries located in close proximity.

Corazon looks forward advancing the major development opportunity presented by the Lynn Lake Project and will be updating shareholders on its progress throughout 2013.

Landholding expanded at Lynn Lake

Corazon has expanded its position as the largest landholder in the Lynn Lake region with the addition of new exploration ground.

South Plug Nickel-Copper Target

The South Plug is located immediately south of Corazon’s Lynn Lake Project. It hosts a differentiated mafic/ ultramafic intrusion similar to those which host the nickel-copper deposits of the region. The main target has a large geophysical anomaly coincident with extensive sulphide mineralisation.

Barrington Lake Copper Deposit

The deposit is located 43 kilometres northeast of Lynn Lake. Previous exploration defined copper mineralisation and numerous geophysical anomalies which are yet to be drilled. There is an outcropping zone of copper, approximately 107 metres in strike and 4.6 metres in width, with an average grade of 2.63% copper. There is also another copper showing, believed to be the same zone, outcropping approximately 900 metres to the west.

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Top Up Rise Copper-Gold Acquisition

The Company recently added to its project portfolio of quality assets with the acquisition of an exciting early stage copper-gold project in Western Australia.

In October 2012, Corazon secured an option to acquire up to 75% of the Top Up Rise Project in the Gibson Desert region of north-eastern Western Australia. The project represents an extremely exciting exploration opportunity with major upside potential for the Company.

Top Up Rise hosts one of the largest amplitude untested residual gravity anomalies in Australia and is prospective for Olympic Dam and Prominent Hill style iron oxide copper gold (IOCG) mineralisation. The core of the anomaly is 8 kilometres x 4 kilometres in area, which is similar in size to the geophysical anomaly at BHP’s Olympic Dam.

The Top Up Rise Project presents a unique opportunity to quickly test and explore for a large world-class style of deposit. Corazon aims to commence work programs at the project immediately, pending requisite approvals, and drilling is scheduled for the first half of 2013.

Agreement Details

Corazon has executed a Binding Heads of Agreement with Border Exploration Pty Ltd (100% owner of the Top Up Rise Project) under which Corazon can earn up to a 75% equity interest in Border Exploration via a three stage earn-in process.

The acquisition is subject to Corazon shareholder approvals, which will include approvals required due to Corazon’s Managing Director, Brett Smith, also being a Director and shareholder of Border Exploration. The shareholder meeting will be held on January 25th and the results of the meeting will be provided in due course.

Project Location

Top Up Rise is located on the eastern edge of the Gibson Desert and includes three granted exploration licences. The main anomaly is located under shallow cover and has not been subject to previous exploration. The nearest major centre is Alice Springs, approximately 700 kilometres to the east. Access to the project is via gravel road and community and historical oil exploration tracks.

IMAGES from top left: Location map of Top Up Rise Project; Landscape typical of Top Up Rise Project area, Gibson Desert, W.A.; Graph comparing peak residual anomalies.

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Land Access Agreement for Top Up Rise Project

Agreement with Traditional Owners will facilitate the commencement of exploration programs at the Top Up Rise Project.

A Land Access Agreement was signed in December 2012 between Corazon, the Tjamu Tjamu (Aboriginal Corporation) RNTBC and the Ngaanyatjarra Land Council (Aboriginal Corporation) which will pave the way for exploration to commence at the project.

The Agreement is a significant step forward in the development of Top Up Rise and allows Corazon to seek a Ministerial Access Permit, which will provide authorisation for the Company’s exploration team to commence on-ground work at the project area. Corazon is currently in the process of securing a Ministerial Access Permit.

It is expected that on-ground heritage clearances will commence in early 2013, with ground geophysics scheduled to be completed in Q1, 2013. A maiden drilling program will follow.

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Beaucage Lake Gold Acquisition

Corazon added the Beaucage Lake Gold Project to its Canadian asset portfolio in September 2012 and views it as an exciting new exploration opportunity with the potential to provide immediate high priority drill targets.

The Company has secured an option to acquire 100% of the Beaucage Lake Project, which is located in the Lynn Lake mining district and only 45 kilometres south-east of its core asset, the Lynn Lake Nickel Sulphide Project.

The acquisition further expands Corazon’s strategic landholding in the region, and the proximity of Beaucage to its other Lynn Lake assets allows the Company to optimise field activities in the region and benefit from reduced costs for future exploration work.

Previous exploration at the Beaucage Lake Project has defined extensive high tenor gold mineralisation over an 8 kilometre strike length and multiple geochemical and geophysical targets which are yet to be drill tested.

Highlight results from previous exploration include;

• Surface samples up to 1,811 g/t gold & 3,805 ppm molybdenum

• A best drill intersection of 2 m @ 11.9 g/t gold

There has been limited exploration at the project area since the mid-1980’s and Corazon’s initial plan is to collate and interpret all existing exploration data to assist in target generation for future drilling.

Information acquired to date suggests exploration has focused on small areas of outcrop in the project area. Geophysics has been useful in identifying favourable trends, and numerous targets have been identified.

Beaucage Lake is situated close to a number of significant gold deposits, including the 2 million ounce MacLellan Gold Mine, and the Company believes the high tenor of gold mineralisation over a large area may be indicative of a large scale mineralised system.

Details of the terms of the Beaucage acquisition are provided in Corazon’s ASX Announcement dated 4 September, 2012.

Capital Structure

Ordinary shares on issue1	139.14M
Options on issue1, 2	66.54M
Market Capitalisation (@ A$0.26)	A$3.6M
Cash @ 30 December 2012, inc. investments and receiveables)	$1.41M
52 week trading range @ 31 December 2012	$0.11 - $0.019

1. Pre-acquisition of Top Up Rise Project

2. Volume weighted exercise price of $0.186

Board and Management

Clive Jones Non-Executive Chairman

Brett Smith Managing Director

Jonathan Downes Non-Executive Director

Adrian Byass Non-Executive Director

Rob Orr Chief Financial Officer

Contacts

Brett Smith

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

James Moses

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

Competent Person Statement: The information in this report that relates to mineral Resources or Reserves and 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.

Corazon Mining Limited ( ASX: CZN ) P: +61 (8) 6142 6366 E: info@corazon.com.au A: Level 1, 350 Hay Street, Subiaco, WA 6008 M: PO Box 8187, Subiaco East, WA 6008

For details on all of Corazon’s projects, visit

www.corazon.com.au