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CORAZON MINING LIMITED Investor Presentation 2015

May 13, 2015

64747_rns_2015-05-13_27b4a72f-8a2b-48e2-b69e-e1756d2e5589.pdf

Investor Presentation

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14 May 2015

Company Announcements Office Australian Securities Exchange Limited

Dear Sir/Madam

RIU Sydney Resources Round-up Conference Presentation & Interview

Corazon Mining Limited (ASX: CZN) is pleased to share Managing Director Brett Smith’s video interview and presentation from the RIU Sydney Resources Round-up Conference.

The interview conducted by Proactive Investor is available for viewing on the Company website www.corazon.com.au

Yours faithfully

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Robert Orr Company Secretary Corazon Mining Limited

Level 1, 350 Hay St PO Box 8187 Subiaco 6008 Subiaco East WA 6008 Western Australia T: +61 8 6142 6366 F: +61 8 6210 1872 [email protected]

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Company Presentation ASX : CZN May 2015

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ASX: CZN | PAGE 1
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Forward Looking Statements

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  • This presentation has been prepared by Corazon Mining Limited (“Corazon”). It contains forecasts and forward looking statements which are not a 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.

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ASX: CZN | PAGE 2
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Summary of Lynn Lake Opportunity

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  • Corazon has tied up one of Canada’s most prolific historic nickel producing regions

  • Project consolidated for the first time since mine closure in 1976

  • Large resource already defined

  • Historic and recent drilling has identified resource upside potential

  • Utilising modern exploration techniques to uncover new deposits

  • Drill-ready targets being generated

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ASX: CZN | PAGE 3
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Lon er Term Nickel Forecasts g

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RBC 2015 Year Review – Source RBC Capital Markets estimates, Wood Mackenzie, LME

Lon er Term Nickel Forecasts g

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Macquarie Research Commodities Outlook November 2014

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ASX: CZN | PAGE 5
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Corporate Overview – ASX:CZN

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Structure Structure Structure
Market Cap. @ 0.5 cps A$ 2.2M
Shares on Issue # 441.63M
Unlisted Options on Issue # 30M
Cash(as at 31/3/15) A$ 2.2M
52 week share trading range A$ $0.004 – 0.013

Company Focus

Advancing Lynn Lake to development

  • 83,000t contained nickel

  • 37,800t contained copper

Advanced exploration play

  • Fertile area – multiple targets generated

  • Looking for a new discovery

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 1,700
Top 20 31.13%
Board Ownership 4.06%
Victory Nickel Inc 9.06%
Graeme Wallis 3.84%
High % of Retail Shareholders

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ASX: CZN | PAGE 6
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Lynn Lake – Project Location

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Raglan
Voiseys Bay
Lynn Lake
Thompson
Ontario Sudbury
Major Canadian Nickel Projects
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ASX: CZN | PAGE 7
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L nn Lake – Minin Centre y g

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How It Was

  • Significant Canadian Ni producing region

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  • Sheritt Gordon 23 year operation – 1953 to 1976 Production - 22.2 M tons @ 1% Ni & 0.5% Cu Including EL Plug 1.9 M tons @ 2.5% Ni & 1.15% Cu Production rate - 1 M tons per annum

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  • Maximum mining depth to 1,100m below surface

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  • +85% recovery for all metals – Ni, Cu, Co

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A Plug
Mines
EL Plug
Mine
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Lynn Lake Township
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Long Section Schematic
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ASX: CZN | PAGE 8
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L nn Lake – Minin Centre y g

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Lynn Lake Now

  • All year access to mine area Excellent infrastructure

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  • Township, shops, hospital

  • Abundant hydro-electricity and water

  • Sealed airstrip

  • Road or rail access to smelters

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EL Shaft Cap
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No environmental or Native Title issues

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Drilling – EL Plug

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Lynn Lake Township
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ASX: CZN | PAGE 9
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Metal Rich Region

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LEGEND
Shaft – Nickel Mine
Airstrip
Nickel Deposit
VMS Deposit
A Shaft D Deposit
A Deposit
E Deposit
B&K Deposits
Township
Farley Shaft
P Deposit
A Plug Mining Area
O Deposit
Zn, Cu, Ag
N Deposit
Zn, Cu
Zn, Cu, Au
Zn, Au, Pb, Cu, Ag
Zn, Ag
Zn, Cu, Ag
EL Deposit
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Large Mineralised System

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North
EL Mine
Mine Area Plan View
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Mined 1.9Mt @
2.5% Ni, 1.15% Cu
2000 foot level
CZN
High-Grade
Discovery 2011
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N, O Deposits
Wardrop - 2007/8 Pre-Feas Study
Victory Tenements
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Nickel @ US$9.01/lb Copper @ US$2.13/lb

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ASX: CZN | PAGE 11
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Victory Nickel Inc – NI 43-101 Resource

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Summary - A Plug NI 43-101 Resource1 Summary - A Plug NI 43-101 Resource1 Summary - A Plug NI 43-101 Resource1 Summary - A Plug NI 43-101 Resource1 Summary - A Plug NI 43-101 Resource1 Summary - A Plug NI 43-101 Resource1 Summary - A Plug NI 43-101 Resource1 Summary - A Plug NI 43-101 Resource1 Summary - A Plug NI 43-101 Resource1 Summary - A Plug NI 43-101 Resource1
N, O & G Deposits, Lynn Lake, February 2010
Deposit COG Ni%
Eq2
Tonnes3 Tons Grade Contained Metal
Ni% Cu% Ni% Eq2 Tonnes Ni Tonnes Cu
Measured, Indicated & Inferred Resource Categories
N, O, G 0.4 28,098,866 30,973,698 0.55 0.29 0.70 155,770 82,832
N, O, G 0.6 16,984,288 18,721,973 0.66 0.33 0.83 111,427 56,897

Victory Nickel Inc (TSX:NI) – NI 43-101 Resource – Further information available on SEDAR

Notes -

  1. This resource estimate is a foreign resource estimate and is not reported in accordance with the JORC Code. Insufficient work by the competent person has been undertaken on the foreign resource estimate to classify in accordance with the JORC Code and it is uncertain that, following evaluation and/or further exploration work, the foreign resource estimate will be able to be reported as a mineral resource in accordance with the JORC Code.

  2. Nickel equivalent grades are provided as an indicator of value in a multi-metallic deposit. Lynn Lake has a long history as a nickel, copper and cobalt mining camp. It is the Company’s opinion that all elements included in the metal equivalent calculation have a reasonable potential to be recovered.

Ni Eq = (((Cu%222.04622)+(Ni%7.2222.04622))/7.22)/22.04622 where Ni = 7.22$ US/lb Cu = 2.00 $US/lb.

  1. The original NI 43-101 resource used Canadian imperial measurements. For the purposes of this announcement, 1 Ton (US Short) = 0.90718474 Tonnes (metric).

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ASX: CZN | PAGE 12
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JORC Resource – A Focus On Grade

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Deposit Lower Cut-off
Grade
Lower Cut-off
Grade
Lower Cut-off
Grade
Tonnes Grade Grade Contained Metal Contained Metal
NIEQ % Ni % Ni % Cu % Ni Tonnes Cu Tonnes
Indicated Resource Category
EL Upper 0.4 1,120,000 0.77 0.34 8,600 3,800
EL Lower 0.6 676,000 0.83 0.40 5,600 2,700
N 0.8 2,990,000 0.86 0.41 25,700 12,300
O 0.8 2,630,000 0.82 0.37 21,600 9,700
Indicated Sub-Total 7,420,000 0.83 0.38 61,500 28,500
Inferred Resource Category
EL Upper 0.4 645,000 1.55 0.61 10,000 3,900
EL Lower 0.6 292,000 1.01 0.44 3,000 1,300
N 0.8 710,000 0.79 0.39 5,600 2,800
O 0.8 100,000 0.75 0.36 750 360
G 0.8 240,000 0.94 0.39 2,300 940
Inferred Sub-Total 1,990,000 1.09 0.47 21,600 9,300
Total
9,400,000 0.88 0.40 83,000 37,800
~~Notes -~~

Resource released by Corazon Mining Limited in an ASX announcement date 16[th] April, 2015 .

Nickel equivalent grades (NIEQ%) are provided as an indicator of value in a multi-metallic deposit. Lynn Lake has a long history as a nickel, copper and cobalt mining camp. It is the Company’s opinion that all elements included in the metal equivalent calculation have a reasonable potential to be recovered. Past mining of these deposits on average produced a nickel concentrate, consisting of 14% nickel, 1.5% copper and 0.35% cobalt and a copper concentrate having 30% copper and 0.60% nickel. In this circuit, 85% of the nickel, 93% of the copper and 80% of the cobalt were recovered on average.

NIEQ% = (((Cu%222.04622)+(Ni%7.2222.04622))/7.22)/22.04622 based on metal prices of Ni = US$7.22 /lb Cu = US$2.00 /lb.

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ASX: CZN | PAGE 13
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Recent Ni-Cu-Co Discoveries

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EL Plug

  • EL Lower Zone – Corazon Mining Limited (ASX:CZN)

– 23.75m @ 3.34% Ni, 1.54% Cu & 0.079% Co from 731.25m

  • Announced 28[th] June 2011

A Plug

  • Disco (Maxwell) Deposit - Western Areas NL (ASX: WSA)

  • 18m @ 1.5% Ni, 0.70% Cu & 0.040% Co from 96m

  • Announced 23 April 2008

  • Tango Deposit – Prophecy Resources Corp (TSXV: PCY)

  • 17m @ 0.6% Ni & 0.30% Cu

  • Announced 6[th] December 2010

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ASX: CZN | PAGE 14
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EL Deposit – Potential

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Upper Zone Historical
Workings
 Open Pit Target

Potential early development tonnages
– ~1,765,000 tonnes defined in resource Conceptual
Pit shell
Mid Zone
 Underground Mine Target

Limited by small amount of drilling Conceptual Mine
Development

~968,000 tones within resource

Additional drilling will add to the
resource
Lower Zone
Development Concepts
 New High-Grade Discovery X-Section Looking East

Announced 28 [th] June 2011

Multiple high-grade drill intercepts

Open at depth
Lower Zone Target
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Upper Zone

Mid Zone

Lower Zone

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ASX: CZN | PAGE 15
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The EL De osit - De th Potential p p

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-700 mbs
Drill hole Cross-Section
Discovery Hole XND001W1
23.75 m @ 3.34% Ni & 1.54% Cu
Deepest Result CRZ012
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
-800 mbs
Looking West – 25m grid pattern

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ASX: CZN | PAGE 16
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Core Photos - Mineralisation

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ASX: CZN | PAGE 17
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L nn Lake – Inherited Data y

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Drilling – Predominantly Mine & Resource Focused

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  • Approximately 5,200 known drill holes Drill data yet to be located

  • ~ 450 surface holes

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  • ~ 150 underground holes

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  • A Plug - Potential to grow resources & locate new targets “Production mentality” by past operators Un-assayed mineralised drill core Potential to ‘vector-in’ to new zones

A Plug Mineralisation – Drill hole not sampled

Corazon building models to aid targeting

Core Boxes – Not opened in +50 yrs

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L nn Lake – Inherited Data y

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Geophysics – Extensive High Quality Datasets

Never before collated for project scale exploration Detailed mine-focus surveys & Regional new target generation

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Geophysical Survey Statistics 1996-2011

High Definition Aeromagnetic Surveys

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Most mafic intrusives: Totalling 896 line km

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VTEM Surveys

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8 surveys: Totaling 1,353 line km

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IP Surveys: Time Domain

91.5 line km

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Gravity

35 line km

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PEM

  • 99 line km

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Ground Mag 28 line km

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ASX: CZN | PAGE 19
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Regional Exploration Targets

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A new look at a prospective area

  • Geophysics and an understanding of the mineralised system is the key to discovery

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  • Difficult terrain, targets are predominantly under cover

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  • Multiple magnetic and conductive anomalies identified

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  • Additional “ crustal contaminated ” mafic- ultramafic intrusions identified

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  • Work in progress - proposed to be drilling next winter

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Milligan Geology - 1957
Ralph Lake Plug
A Plug
EL Plug
Fraser Lake Plug
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Magnetic Image
VTEM Survey
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B-Field Image
VTEM Survey
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ASX: CZN | PAGE 20
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Summary of Lynn Lake Opportunity

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Lynn Lake provides good leverage to an appreciating nickel price

  • Large project

  • Excellent existing infrastructure

  • Low-grade system – development is nickel price dependent

– 2007 pre-feasibility identified low cost operation with a cost of US$7.06/lb nickel and US$4.90/lb nickel net copper+cobalt credits (at metal prices US$9.01/lb Ni, US$2.13/lb Cu, US$18.59/lb Co)

  • Potential to high-grade early production

Work being completed now to define operational parameters for project

  • Lynn Lake – a brown-field exploration play

New discoveries not included in resources – potential yet to be defined

Numerous untested regional targets

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ASX: CZN | PAGE 21
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Current Activities

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Mining and Processing Studies

Looking to optimise up-front grade and identify cheap early ore

Looking to reduce operational costs

Exploration

Collating more than $1.5M worth of modern geophysics

Adding to drilling dataset with +600 missing holes

Target generation for additional resources in Mine Area

Target generation of new deposits proximal and regional

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ASX: CZN | PAGE 22
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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: [email protected]

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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 : [email protected] | W : www.corazon.com.au

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ASX: CZN | PAGE 23
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Competent Person Statement

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The information in this report that relates to Exploration Results and Mineral Resources for the A Plug deposits at the Lynn Lake project is based on information compiled by Mr Neal Leggo who is a Member of the Australian Institute of Geoscientists. Mr Leggo is a full time employee of Ravensgate and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Leggo 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 and Mineral Resources for the EL Plug deposits at the Lynn Lake project is based on information compiled by Mr Stephen Hyland who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Hyland is a full time employee of Ravensgate and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Hyland 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 and Targets is based on information compiled by Mr Brett Smith, B.Sc Hons (Geol), Member AusIMM, Member AIG and an employee of Corazon Mining Limited. Mr Smith is an employee of Corazon Mining Limited and has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration, Results, Mineral Resource and Ore Reserves (JORC Code 2012).

With regards to the “foreign estimates of mineralisation” defined by the NI 43-101 resource presented by Victory Nickel Inc (TSX:NI) for Lynn Lake, Mr Smith concludes that the information provided is an accurate representation of the data and studies available for the estimate. Mr Smith consents to the inclusion in this document of the matters based on this information in the form and context in which it appears.

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ASX: CZN | PAGE 24
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