CORAZON MINING LIMITED — Investor Presentation 2017

Mar 29, 2017

LEVEL 1, 329 HAY ST, SUBIACO WA 6008 | PO BOX 8187, SUBIACO EAST WA 6008 | +61(8) 6142 6366 | INFO@CORAZON.COM.AU | WWW.CORAZON.COM.AU

Looking Forward Statement

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

.

Competent Person’s Statement

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 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 2012 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.

2

Mt Gilmore Cobalt-Copper-Gold

Large hydrothermal alteration system Extensive occurrences of mineralisation Very little modern exploration Drilling completed at Cobalt Ridge = highgrade cobalt dominant deposit Cobalt critical component for rechargeable lithium ion batteries

Lynn Lake Nickel-Copper-Cobalt Control of entire mining centre Beneficial infrastructure and large remnant resources Easy development opportunity Exciting exploration potential Recent drilling identifies potential for another large magmatic Ni-CuCo sulphide system

3

==> picture [680 x 203] intentionally omitted <==

----- Start of picture text -----

ASX: CZN 0.06 600,000,000
Daily Volume Traded On-Market Daily Close Price - CZN
Total Ordinary Shares on Issue 899.43m 0.05 500,000,000
Options on issue 19.7m 0.04 400,000,000
Market Capitalisation ($0.027/share) $24.28m 0.03 300,000,000
Trading Range (1 year) $0.004-$0.059 0.02 200,000,000
Average Daily Trading Volume 20m
0.01 100,000,000
Cash (as at 31 Dec 2016) $1.9m
0.00 0
Placement for $3M completed 2 [nd] March 2017 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17
Close Price (A$/share)
Daily VolumeTraded On-Market
----- End of picture text -----

Board of Directors

Shareholders

Clive Jones Non Executive Chairman Top 20 Shareholders ~ 30% Brett Smith Managing Director Board and Management 3.5% Jonathan Downes Non Executive Director Crescent Nominees Ltd 10.8% Adrian Byass Non Executive Director

4

Mt Gilmore Project

5

Project Opportunity

Recently recognised potential for large intrusive-related copper-gold systems (eg. Cadia, Mt Morgans) Very little modern exploration – extensive historical copper-gold workings

Early target - advanced drill-defined cobalt dominant sulphide deposit with un-tapped upside

Cobalt – Strategic metal and critical component for Lithium Ion Batteries

– Forecast growth in demand driven by extraordinary growth in the Rechargeable Battery Sector

==> picture [292 x 190] intentionally omitted <==

----- Start of picture text -----

Location Brisbane
QUEENSLAND
Mt Gilmore
Project
PACIFIC OCEAN
NEW SOUTH
Grafton
WALES
Coffs Harbour
----- End of picture text -----

CZN Earning 80% equity

Currently 51% equity in Project

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

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)

6

==> picture [311 x 447] intentionally omitted <==

----- Start of picture text -----

Chromite in
mafics
Au-Sb-W
In granite
Mafic
Intrusive
Felsic
Intrusive
Sedimentary
Volcano- Basin Cover
Sedimentary
Basement
COBALT RIDGE
DEPOSIT
----- End of picture text -----

Mt Gilmore Trend

• Large hydrothermal alteration footprint – numerous historical Cu-Au workings

Extensive field evidence of targeted models - tourmaline breccia hosted Cu-Au deposits, Cu-Au-Fe skarns and quartz-sulphide vein system (such as porphyry Cu-Au deposits)

Cobalt Ridge - initial focus of exploration – one small prospect in a large system

Magmatic – Hydrothermal Tourmaline-Chalcopyrite-Pyrite Breccia's

7

Hole ID	Hole Type	From Depth(m)	Interval (m)	Co %	Cu %	Au g/t	CuEq %
MGRCD001	Core	165	13	0.18	0.54	0.17	1.72
		incl	1	1.12	1.96	0.81	9.11
MGRCD004	Core	128.3	3	0.54	1.83	0.17	5.13
		incl	1	0.73	4.51	0.23	8.97
MGRC002	RC	135	16	0.65	0.26	0.17	4.20
		incl	6	1.48	0.14	0.32	9.07
MGRC003	RC	0	37	0.14	0.23	0.08	1.08
		incl	2	0.36	1.37	0.38	3.74
		&	1	1.20	1.02	0.44	8.36
MGRC006	RC	42	34	0.23	0.26	0.08	1.67
		incl	4	0.48	0.27	0.15	3.21
		&	5	0.71	0.88	0.27	5.25
MGRC007	RC	41	15	0.33	0.25	0.17	2.31
		incl	3	0.82	0.26	0.42	5.37
		&	1	0.61	0.67	0.43	4.54
MGRC008	RC	97	17	0.35	0.09	0.07	2.18
		incl	7	0.72	0.02	0.14	4.37
MGRC009	RC	12	28	0.10	0.41	0.10	1.06
		incl	1	0.53	2.01	0.65	5.54

Corazon Drilling Results

• Identified zonation in cobalt/copper/gold mineralisation along strike

Upside defined - cobalt mineralisation open along strike – possible multiple parallel zones

Main Cobalt Lode

Tested by 8 holes – 200m strike and open

Average 8m true width with grades of between 0.23% to 0.65% Co

Inclusive of high grade zones up to 7m downhole and up to 1.48% Co

Best individual sample of 2.79% Co Copper + gold credits

Corazon Drilling - Cobalt Intercepts Within Main Cobalt Lode

Calculation parameters: Greater than or equal to 0.3m down hole thickness, greater than or equal to 0.05% Co, greater than or equal to 0.05% Co cut-off and less than or equal to 3m internal dilution. Gold is associated with the mineralisation at Cobalt Ridge, but is not reported above. Gold values at lower detection limit <0.01ppm are attributed a value of 0.005ppm for interval calculations.

Copper equivalents (CuEqv) = Cu%+(Co%5.89)+(Au_ppm0.679). Metal prices used are Cu US$5,642/t, Co US$33,249/t and Au US$1,191.86/oz (reference infomine.com spot prices quoted on 12-01-2017). The CuEqv values were completed on the Cobalt Intercept calculations identified above. It is the Company’s opinion that all elements included in the metal equivalent calculation have a reasonable potential to be recovered.

8

==> picture [511 x 366] intentionally omitted <==

----- Start of picture text -----

Flintoff’s Cobalt Target
Cobalt Ridge East Target
Cobalt Ridge West Target
Cobalt in Soils
>25ppm
>50ppm
>100ppm
>200ppm
Historic Working
Drill Hole
Cobalt soil geochem image, with old workings, drill
collars and traces, over aerial photograph
----- End of picture text -----

Next Steps

Extend geochemical and geophysical coverage at Cobalt Ridge – targeting additional drilling

Initial metallurgical testwork on Cobalt Ridge is very encouraging with +90% recovery and simple processing – work on-going Commence regional work with a focus on cobalt

Lynn Lake Project

10

How it was

• Prolific Canadian Ni producing region

• “Sheritt-Gordon” 24 year mining operation – 1953 to 1976 Production – 18.4 Mt @ 0.86% Ni & 0.44% Cu

• Including EL Plug 1.7 Mt @ 2.5% Ni & 1.15% Cu

• Production rate - 1 M tons per annum Maximum mining depth to 1,100m below surface +85% recovery for all metals – Ni, Cu, Co

How it is now

==> picture [286 x 195] intentionally omitted <==

----- Start of picture text -----

Raglan
Lynn Lake
Voiseys
Bay
Thompson
Sudbury
----- End of picture text -----

Major Canadian Nickel Projects

All year access to mine area

• Excellent infrastructure

• Township, shops, hospital Abundant hydro-electricity and water Sealed airstrip

• Road or rail access to smelters

No environmental or Native Title issues

Lynn Lake Township – Historical Photo

11

Corazon Project Activities

• May 2010 - Corazon acquires Lynn Lake Exploration ground - surrounding mining centre and including the historic satellite mine – the EL Mine

• June 2010 – Exploration commences

• October 2010 – Maiden resource for EL Mine area

• May 2011 – Discovery of high-grade sulphide breccia at depth beneath the EL Mine – 23.75m @ 3.34% Ni, 1.54% Cu and 0.079% Co from 731.25m

• August 2012 – Fall in market sentiment due to declining nickel metal price – Company’s exploration activities at Lynn Lake put on hold

==> picture [90 x 81] intentionally omitted <==

----- Start of picture text -----

Victory Project
CZN 100%
----- End of picture text -----

• April 2015 Corazon acquires main Lynn Lake Mining

• Centre – first time since mine closure in 1976 the whole project is under the control of one company

• April 2015 to May 2016 – Capture and collation of data – target generation

• May 2016 – FLC IP identifies multiple “Lynn Lake” like anomalies

January 2017 – Drilling at FLC commences

65.54 km[2] 6km x 13km

Lynn Lake Project CZN Option for 100%

12

==> picture [366 x 224] intentionally omitted <==

----- Start of picture text -----

Emslie, R.R. and Moore, J.M. 1961
A Plug
EL Plug
Fraser Lake Complex
Insert
----- End of picture text -----

Lynn Lake – Geologically Unique

Circular to ellipsoidal form of the intrusions, punctuated with smaller “pipe-like” massive sulphide bodies suggests Lynn Lake is central to a major mantle magmatic plumbing system that gave rise to not only the mafic-ultramafic intrusions but their coeval mafic volcanics

La Ronge – Lynn Lake Greenstone Belt

Mafic/Ultramafic Intrusive

13

==> picture [280 x 386] intentionally omitted <==

----- Start of picture text -----

0 km 0.5 km
N
A Plug A Shaft
Farley Shaft
‘O’ Deposit
Plan of Intrusion
Geology Interpretation
‘N’ Deposit
Plan Legend
Sulphide Deposits
‘M’ Deposit
Peridotite
Amphibolite
Quartz-Hornblende Diorite
Gabbro
‘EL’ Deposit
----- End of picture text -----

Large Mineralised System

+ 20 Orebodies

Large remnant resources and drill defined mineralisation – development opportunity

Current JORC resource grades comparable to historical production grades

• Exciting opportunity for the discovery of additional deposits

==> picture [105 x 20] intentionally omitted <==

----- Start of picture text -----

Long Section Schematic
----- End of picture text -----

==> picture [42 x 13] intentionally omitted <==

----- Start of picture text -----

EL Plug
----- End of picture text -----

14

==> picture [278 x 205] intentionally omitted <==

----- Start of picture text -----

Emslie, R.R. and Moore, J.M. 1961
A Plug
EL Deposit 1947 discovery hole
183m @ 4.7 %Ni & 1.7 %Cu
EL Plug
Fraser Lake Complex
(FLC)
----- End of picture text -----

Obvious Potential For Additional Resources Within Mining Centre HUGE REGIONAL POTENTIAL

Target Generation

• Modern exploration techniques and a new understanding for the formation of these deposits has identified multiple Lynn Lake style targets

• Difficult terrain, targets are predominantly under cover

• Geophysics is the key to discovery – Lynn Lake deposits have a specific geophysical characteristics

==> picture [245 x 158] intentionally omitted <==

----- Start of picture text -----

Muskeg Terrain
----- End of picture text -----

• Multiple “EL Deposit like” targets

• The FLC is a stand-out opportunity for the discovery of a new Lynn Lake

15

Priority Target

• Chemically and structurally similar to Lynn Lake

• Fertile for Ni-Cu sulphides

• Twice as large as Lynn Lake

• Source of magma and feeder-zone identified = coincident geophysical anomaly

==> picture [154 x 150] intentionally omitted <==

----- Start of picture text -----

Gravity Image
----- End of picture text -----

==> picture [265 x 161] intentionally omitted <==

----- Start of picture text -----

Historical
Drilling
Country Rock
Xenoliths
FLC
Outline
CZN
Drilling
----- End of picture text -----

==> picture [93 x 19] intentionally omitted <==

----- Start of picture text -----

Aeromagnetic Image
----- End of picture text -----

16

Priority Target

• IP geophysics effective exploration method for Lynn Lake Ni-Cu-Co deposits

• Large IP Chargeable anomaly defined at FLC

• Coincident with “FeederZone” extensions

• Target 1.7km strike – geophysical and geochemical anomaly

==> picture [154 x 150] intentionally omitted <==

----- Start of picture text -----

Gravity Image
----- End of picture text -----

==> picture [533 x 366] intentionally omitted <==

----- Start of picture text -----

Historical
Drilling
Country Rock
Xenoliths
FLC
Outline
CZN
Drilling
Feeder Zone to FLC
IP Chargeability High
IP Chargeability Image
----- End of picture text -----

17

Fertile Magmatic Sulphide Environment

• Drilling within Matrix Trend has identified extensive pervasive sulphide mineralisation

• Little doubt the IP anomaly is caused by Ni-Cu-Co magmatic sulphides

• Multiple pulses of sulphide rich magma identified – including massive and semi-massive zones

• Only 400m strike of the northern part of the Matrix Trend tested with drilling

• Source of sulphide rich magma towards the southwest – within the feeder zone and closer to the throat of the FLC intrusion – untested by drilling

• Several extremely high IP chargeable anomalies for follow-up – coincident gravity and magnetic anomalism

==> picture [444 x 392] intentionally omitted <==

----- Start of picture text -----

Historical
Drilling
Country Rock
Xenoliths
Hole FLC-2017-008
Matrix Trend
Hole FLC-2017-012
HC IP Anomaly
Outline
Hole FLC-2017-002
Hole FLC-2017-010
Feeder Zone to FLC
IP Chargeability High
Hole FLC-2017-003
Hole FLC-2017-001
IP Chargeability Image
----- End of picture text -----

18

Fertile Magmatic Sulphide Environment

• Drilling within Matrix Trend has identified extensive pervasive sulphide mineralisation

• Little doubt the IP anomaly is caused by Ni-Cu-Co magmatic sulphides

• Multiple pulses of sulphide rich magma identified – including massive and semi-massive zones

• Only 400m strike of the northern part of the Matrix Trend tested with drilling

• Source of sulphide rich magma towards the southwest – within the feeder zone and closer to the throat of the FLC intrusion – untested by drilling

• Several extremely high IP chargeable anomalies for follow-up – coincident gravity and magnetic anomalism

==> picture [444 x 392] intentionally omitted <==

----- Start of picture text -----

IP Chargeability Image
----- End of picture text -----

19

Depth Potential

• Gravity identifies the new target area as having potentially deep roots and a strong vertical component

• This compares to the flat “sheet-like” and settling features seen to date in the drilling at the northern end of the Matrix Trend

• “Volcano-like” anomalies display characteristics similar to the EL Deposit’s high-grade sulphidic breccia within the Lynn Lake Mining Centre – preferred target model

==> picture [438 x 392] intentionally omitted <==

----- Start of picture text -----

Historical
Drilling
Country Rock
Xenoliths
Hole FLC-2017-008
Matrix Trend
Hole FLC-2017-012
HC IP Anomaly
Outline
Hole FLC-2017-002
Hole FLC-2017-010
Feeder Zone to FLC
IP Chargeability High
Hole FLC-2017-003
Hole FLC-2017-001
Gravity Image
----- End of picture text -----

20

Near-Surface Potential

• IP anomalies in the new target area are coincident with magnetic highs

• The Ni-Cu-Co mineralisation at Lynn Lake is magnetic due to its association with magnetic pyrrhotite

• Ground magnetics can see from surface to about 350m depth – these strong magnetic features suggest shallow mineralisation

• Targets may be increasing in depth away from the throat of the feeder zone

• Multiple walk-up drill targets extending for approximately 900m strike from the start of the feeder zone

==> picture [444 x 392] intentionally omitted <==

----- Start of picture text -----

Historical
Drilling
Country Rock
Xenoliths
Hole FLC-2017-008
Matrix Trend
Hole FLC-2017-012
HC IP Anomaly
Outline
Hole FLC-2017-002
Hole FLC-2017-010
Feeder Zone to FLC
IP Chargeability High
Hole FLC-2017-003
Hole FLC-2017-001
Ground Magnetics Image
----- End of picture text -----

21

==> picture [721 x 541] intentionally omitted <==

----- Start of picture text -----

||||
|---|---|---|
|Matrix Trend - IP Anomaly - Sulphide Rich|
|FLC-2017-003 – Semi-Massive Sulphide|FLC-2017-008|FLC-2017-010|
|FLC-2017-003 – Leopard Rock|
|FLC-2017-010|FLC-2017-010 – Massive Sulphide|
|FLC-2017-002|
|FLC-2017-010 – Massive Sulphide|

----- End of picture text -----

Next Steps

• Maintaining a focus on drilling the Feeder Zone (Matrix Trend Anomaly) of the FLC

• New Exploration Work Permits required for drilling of the new targets within the FLC

• Applications already submitted Expected approval by mid-April 2017

• Definition of additional targets within the FLC, within the Lynn Lake Mining Centre, and regionally is on-going as a lower order of priority

==> picture [385 x 181] intentionally omitted <==

----- Start of picture text -----

Corazon building models to aid targeting – Mining Centre
----- End of picture text -----

23

Project Quality

Two exceptional projects with demonstrated prospectivity Both have the capacity for large mineral deposits

Active Exploration Programme

Proven explorer with a quality, dedicated, incentivised team Two active exploration programs – multiple opportunities for success

Corporate

Exceptional liquidity of CZN shares Next phase of exploration activity fully funded

24

LEVEL 1, 329 HAY ST, SUBIACO WA 6008 PO BOX 8187, SUBIACO EAST WA 6008 +61(8) 6142 6366 INFO@CORAZON.COM.AU WWW.CORAZON.COM.AU