CORAZON MINING LIMITED — Investor Presentation 2016

Aug 23, 2016

COBALT C NICKEL COPPER

Company Presentation ASX : CZN

24 August 2016

• 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.

Company Focus

ASX listed exploration company

Lynn Lake Nickel Copper Cobalt

Canadian brown-fields exploration project

• Nickel-copper-cobalt

• Large development opportunity

• Old mining centre

• Exciting exploration play

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Perth
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ASX : CZN
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• New area

New project acquisition – NSW Australia

• Cobalt -copper-gold

• Advanced high-grade cobalt deposit

COBALT Major focus for CZN Significant market interest

Cobalt growth sector - “Rechargeable Batteries”

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Mt Gilmore
Cobalt Ridge
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Capital Structure	Capital Structure	Capital Structure
Market Cap. @ 1.3 cps	A$	7.78M
Shares on Issue	#	648.4M
Options on Issue	#	27.5M
Cash(approximate)	A$	1.5M
52 week share trading range	A$	$0.003 – 0.017

Average Trading Volume 4.8M per day

COBALT BATTERIES

Li-Ion Batteries

NiCd – Nickel-Cadmium

NiMH – Nickel-Metal Hydride Lithium Ion Batteries – Accounts for growth in Cobalt usage

Safer Cheaper to manufacture Best commercially accepted energy storage capacity Better energy density ratings

LCO – Lithium Cobalt Oxide – 60% Co

NMC – Lithium Nickel Manganese Cobalt Oxide – 10-20% Co NCA – Lithium Nickel Cobalt – 9% Co

COBALT DEMAND

75% of Market Share of Li-Ion Batteries in 2015 **

Possible growth in demand due to Electric Vehicles (EV’s) and Smart Grid Storage

Driven by rechargeable battery market

EV’s & Cobalt

2015 refined cobalt

Measurable growth in EV production

Output 92,877t*

Government policy incentive stimulus

Consumption 90,150t **

• 49% from rechargeable batteries

Supply deficit of +10,000 tpa by 2020**

Forecast 68% increase in cobalt consumption between 2015 and 2025 **

• Chinese sales of “New Energy Vehicles” up 343% in 2015 ***

To supply EV battery sector, energy requirements forecast to consume 75%-78% of total cobalt production **

Sources:

*** Darton Commodities Limited – Cobalt Market Review 2015-2016**

• ** CRU Cobalt Market Outlook – 20 May 2016

• * Global and China Electric Vehicle Industry Report, 2016-2025

COBALT SUPPLY

Cobalt predominantly a by-product

• 60% from copper mining

• 38% from nickel mining (laterite + sulphide)

• 2% from primary cobalt mining

Supply Sources

• Dominant supply from DRC copper mines (47%* to 65%)

  • 22% of this is from DRC Artisanal Mining*

• China - largest producer of refined cobalt 94% of cobalt imported to China is sourced from DRC*

• Remaining supply predominantly from laterite nickel mines in Australia, Cuba and Asia Pacific region

Sources:

• Darton Commodities Limited – Cobalt Market Review 2015-2016

• ** CRU Cobalt Market Outlook – 20 May 2016

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Darton Commodities 2016 – Refined Co Output
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Supply Pressures

• Weak nickel and copper prices = less production = less cobalt

• Government policy affecting nickel laterite production – Indonesia & Philippines

• Government elections in DRC creating concern

• Integrity of supply source – Human Rights issues for DRC cobalt supply highlighted by Amnesty International in 2016

Artisanal Mining – “low hanging fruit” – not a long-term supply

• * Macquarie Wealth Management – Commodities Comment – 12 May 2016

Location

North-eastern NSW

35km NW from Grafton

• Excellent access throughout Project

CZN earning 80% equity in Project

• Currently with 51% equity

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Brisbane
QUEENSLAND
Mt Gilmore
Project
NEW SOUTH
Grafton
WALES
Coffs Harbour
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• $200k expenditure requirement in 1[st] year

• $2M earn-in over 3 years (1yr extension option)

• Small periodic payments

• All costs covered by CZN until decision to mine – with subsequent standard contribute/dilute JV

(full purchase agreement details in CZN ASX announcement dated 16 June, 2016)

EMERGING CU-AU PROVINCE

Located in the New England Orogen

• Significant eastern Australia mineral province Gold endowment +35M ounces

• Potential to host large copper-gold systems

• Mt Morgan Cu-Au Mine (+50Mt @ 5.9 g/t Au and 0.7% Cu) Mt Rawdon Au Mine (50Mt @ 0.71 g/t Au)

Mt Gilmore - a new trend and district scale opportunity

• Mineralised “Mt Gilmore Trend” 18km strike

• Under explored and largely undrilled

• +25 historic Cu-Au-Co-Fe workings and small mines

• Five large Cu-Au targets identified to date

• Target models include tourmaline breccia hosted Cu-Au deposits, Cu-Au-Fe skarns and quartz-sulphide vein system (such as porphyry Cu-Au deposits)

Corazon’s initial focus is the high-grade Co-Cu-Au deposit – Cobalt Ridge

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Mineral
Occurrences
Au-Sb-W
Chromite
Mafic
Intrusive
Felsic
Intrusive
Sedimentary
Volcano- Basin Cover
Sedimentary
Basement
Magnetite-Cu-
Co-Au
Cu-Au
Cu-Co-Au
Incl Cobalt Ridge
NSW Government !:250 Geology Interp over Google Earth Digital Globe Image
Tenement Boundary
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MULTIPLE TARGETS ENORMOUS POTENTIAL

Very little historical testing for cobalt

Cobalt Ridge

Minimal work required for resource definition

• High grade – shallow historical mines Multiple sulphide lodes drill defined

• Drill tested over 300m strike

Extensions open and un-tested

Hassan’s Creek

Recent soil geochemistry returned significant cobalt

792ppm Co peak result

Higher than soil results over outcropping Cobalt Ridge prospect

Iron Mountain

Recent rock chip sampling identified strong Co with Cu-Au mineralisation in 1980’s magnetite quarry

0.18% Co peak result

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Mafic
Intrusive
Felsic
Intrusive
Sedimentary
Volcano- Basin Cover
Sedimentary
Basement
‘Iron Mountain’
0.18% Co in
Rock Chips
Hassan's Ck –
Kerry Glen
high Co in Soil
Samples
COBALT RIDGE
DEPOSIT
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Google Earth Digital Globe Image

An advanced cobalt project

• Cobalt play – copper and gold credits

• Part of the large Pulganbar Cu-Au Target

• Shallow 1880’s historical workings – high grade Cu-Co-Au production reported

• Shallow drilling – open in all directions

• JORC resource possible with minimal drilling

Undefined upside

• Very little past exploration has focused on cobalt

No drilling outside Cobalt Ridge

• Regionally, numerous untested cobalt prospects are emerging.

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Tourmaline-Quartz
Breccias
Cobalt Ridge
Drilling
Pulganbar Cu-
Au Target
Domain
Geological Interpretation
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Advanced High-Grade Cobalt Project

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Cobalt Ridge drill holes & Co soil anomalies on air photo
Open
Open
Open
Open
Gold Hill
Flintoff
Au
Co-Cu-Au
Prospect
Prospect
Cobalt Ridge
Co-Cu-Au
Prospect
Open
Glamorgan
Co-Cu-Au
Prospect
Cobalt in Soils
>50ppm
>100ppm
>200ppm
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• Multiple sulphide lodes intersected in drilling

Strike 300m and open

• Extensions indicated by geophysics

Width 50m to 120m

Main Zone approximately 20m wide.

Tested to 170m depth, average hole <100m

• Potential to “bulk out” deposit or focus on narrow higher grade material

Numerous drill results of +1% Co,

Maximum individual 1m drill results of 3.38% Co, 3.18% Cu & 4.92 g/t Au

Several nearby surface cobalt anomalies provide upside potential

Historic Glamorgan & Flintoff Mines

Late 1800’s, small scale production

• Complete records not available

• Ore/stope grades reported up to 8.9% Co , 14.6% Cu, 54.4g/t Au & 66g/t Ag

Cobalt Grades At Other Operations

• Canada - Lynn Lake Ni-Cu-Co sulphide – 0.02% to 0.04% Co, +1% Ni, 0.5% Cu

Australia - Murrin Murrin Ni-Co laterite – 0.09% Co, 1.3% Ni

– USA - Idaho Underground Project (TSX:FCO) 0.55% Co, 0.75% Cu, 0.53 g/t Au

DRC – Kalongwe Cu-Co - 0.27% Co, 2.7% Cu

Cobalt Ridge significant drilling intercepts as reported by Central West Gold NL between 2006 and 2008. Results >0.10% Co, utilizing a >500ppm cut-off and <3m internal dilution. Drill hole collar details presented in Table 2 attached.

Drill Hole Location Plan – over interpreted geology

Cobalt potential previously unrecognised

Tourmaline-Quartz Breccias

• Recent reconnaissance soil sampling returned significant cobalt

792ppm Co peak result

• Higher than soil results over outcropping Cobalt Ridge prospect

No previous drill testing

• A ‘basement window’ of exposed magmatichydrothermal alteration and historic Cu workings may represent the western and upper extent of a much larger hydrothermal system concealed under Mesozoic cover to the east, prospective for: Quartz-tourmaline-sulphide cemented, magmatic-hydrothermal breccia hosted Cu-AuMo deposit

• Concealed porphyry Cu-Au-Mo ore body associated with quartz diorite to tonalite porphyry apophyses proximal to the tourmaline-sulphide cemented breccia’s

Geological Interpretation

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Hassan’s Ck Prospect
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• Potential also exists for Cu-Au skarn

Large walk-up drill target

• Historic iron ore (magnetite) mine, with >700m strike

Surface sampling and ground magnetic survey proposed to better define drill target

• Recent rock chip samples up to 0.18% cobalt

• Previously not tested for cobalt

• Exposed pyrite and chalcopyrite associated –

• with a magnetite skarn in quarry mine face 11m high by 25m long – all mineralised:

• 11 grab samples averaged 0.64 g/t Au & 0.64% Cu, including up to 3.8 g/t Au & 2.08% Cu (Co not tested)

• Channel sampling quarry face returned:

   - 8m @ 0.57% Cu & 0.12 g/t Au (Co not tested)
  

  • Incl. 2m @ 1.52% Cu & 0.26 g/t

  • Au

• Target undrilled – large coincident geophysical and geochemical anomaly

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Iron MountainEL8379
Cu-Au-Fe
Skarn Target
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‘Mt Gilmore Cu-Au Trend’

1986 channel Sample Cu-Au mineralisation Co not tested for

Current Activities

Generating work programs (including drilling) for approval

Proposed Exploration Activities – Cobalt Ridge

Drill program awaiting approval – infill and extension – likely to be October 2016 Extension of soil geochemical and geophysical (IP) surveys Metallurgical studies

Focussed on determining size & value of the Cobalt Ridge deposit

Proposed Exploration Activities – Regional Target Generation

Compilation of exploration datasets and GIS Analysis of existing targets – especially for cobalt Identification of additional targets

Determine exploration required to advance and rank targets

Additional priority work being considered

Soil geochemistry at Hassan’s Creek Ground magnetics and drilling at Iron Mountain

Identify Cobalt upside potential

Canada’s 4[th] largest nickel producer

• 2015 consolidation of Mining Centre - first time since mine closure in 1976

100% beneficial interest

• 23 years of mining – 1Mtpa

• Large remnant resources

• 9.4Mt @ 0.88%Ni, 0.40%Cu

• Significant drill defined mineralisation not within current JORC resources

• Three modern discoveries in mine area Multiple un-tested targets

Infrastructure benefiting development

Interpreted Geology – Emslie, R.R. and Moore, J.M. 1961. Manitoba Mines Branch, Publication 57-4. Datum UTM Zone 14 (NAD83).

Targets appears bigger & better than Lynn Lake

• Predominantly under shallow cover of muskeg (swamp) & overburden (till deposits)

• Fertile in nickel and copper – geochemically and geophysically similar to Lynn Lake – same host rocks

• Twice as large as Lynn Lake

• Strong amplitude IP anomalies - suggesting highly mineralised environment – massive and disseminated signatures

• "Mineralisation" is generally sub-vertical, extending from near surface (outcrop) to great depths

• Most prominent IP anomalies trend NE-SW

• Open to SW, off IP survey - Possible " feeder zone " of FLC – Voisey’s Bay style target

“Organic soil sampling” currently testing for indicators of magmatic sulphides

Competent Person

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).

Contacts

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

T : +61 (8) 6142 6366

A : Level 1, 329 Hay Street, Subiaco WA 6008 | P : PO Box 8187, Subiaco WA 6008

E : info@corazon.com.au | W : www.corazon.com.au