CORAZON MINING LIMITED — Investor Presentation 2017

Feb 21, 2017

Fremantle WA

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.

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Mt Gilmore Cobalt-Copper-Gold

Cobalt Ridge - highgrade cobalt dominant deposit with significant expansion potential Cobalt critical component for rechargeable lithium ion batteries

Large hydrothermal alteration footprint – extensive occurrences of Cu-Au mineralisation

Lynn Lake Nickel-Copper-Cobalt Large nickel field 100% controlled by CZN Exploration underway to confirm potential new NiCu-Co system Beneficial infrastructure & large remnant resources Clear development pathway and exciting exploration upside

Very little modern exploration

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ASX: CZN Total Ordinary Shares on Issue 813.4m Options on issue 20m Market Capitalisation ($0.045/share) $36.60m Trading Range (1 year) $0.003-$0.050 Average Daily Trading Volume 19.5m Cash (as at 31 Dec 2016) $1.9m

Board of Directors

Clive Jones Non Executive Chairman Brett Smith Managing Director Jonathan Downes Non Executive Director Adrian Byass Non Executive Director

Shareholders

Top 20 Shareholders	33.1%
Board and Management	3.5%
Crescent Nominees Ltd	11.3%

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Mt Gilmore Project

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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)

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Location Brisbane
QUEENSLAND
Mt Gilmore
Project
PACIFIC OCEAN
NEW SOUTH
Grafton
WALES
Coffs Harbour
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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

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

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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

Zonation in cobalt/copper/gold mineralisation

• 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 (and up to 18m) with grades of between 0.23% to 0.65% Co

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

Best individual 1m assay 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.

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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
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Next Steps

Extend geochemical and geophysical coverage at Cobalt Ridge – targeting additional drilling Metallurgical test-work on Cobalt Ridge drill chips underway Commence regional work – with a focus on cobalt

9 ASX : CZN – PAGE 9

Lynn Lake Project

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How it was

Prolific Canadian Ni producing region

• “Sheritt-Gordon” 24 year mining operation – 1953 to 1976 Production A Plug – 18.4 Mt @ 0.86% Ni & 0.44% Cu EL Plug – 1.7 Mt @ 2.50% 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

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

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Major Nickel Mines
Raglan
Voiseys
Lynn Lake Bay
Thompson
Sudbury
Lynn Lake Geology
A Plug Mine
EL Plug
Mine
Emslie & Moore 1959
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0 km 0.5 km
N
A Plug A Shaft
Farley Shaft
Plan of Intrusions
Geological Interpretation
Plan Legend
Sulphide Deposits
Peridotite
Amphibolite
Quartz-Hornblende Diorite
Gabbro
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Large Mineralised System

+ 20 Orebodies

• Substantial 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

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Long Section Schematic
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EL Plug
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+70 Years of Exploration & 24 Years of Mining

Inherited data predominantly pre-computers - paper format

Drilling - mostly mine & resource focused

• Approximately 9,000 known drill holes digitally captured “New” zones of mineralisation already identified

Geophysics – incredibly valuable dataset

• Key to discovery at Lynn Lake More than $3M worth of geophysics has been captured

‘A’ Plug Mineralisation – Drill hole not sampled

Corazon building models to aid targeting

Core Boxes – Not opened in +50 yrs – 25’ @ 6% Ni

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0 km 0.5 km
MODERN EXPLORATION METHODS
DELIVER RESULTS WITHIN MINE AREA
N
A Plug
A Shaft
2008

Disco (Maxwell) - Western Areas NL (ASX: WSA)
18m @ 1.5% Ni, 0.70% Cu & 0.040% Co from 96m
Farley Shaft 2010

Tango – Independent Nickel Corp (TSXV:INI)
Plan of Intrusions 17m @ 0.6% Ni & 0.30% Cu
Geological Interpretation
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2011

Plan Legend

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Sulphide Deposits
Peridotite
Amphibolite
Quartz-Hornblende Diorite
Gabbro
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 EL Lower Zone – Corazon Mining Limited (ASX:CZN) 23.75m @ 3.34% Ni, 1.54% Cu & 0.079% Co from 731.25m

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RECENT DISCOVERIES NOT INCLUDED IN JORC RESOURCES
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EL Plug
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Lynn Lake Geology Emslie & Moore 1959
EL Deposit 1947 discovery hole A Plug
183m @ 4.7 %Ni & 1.7 %Cu
EL Plug
Fraser Lake Complex
(FLC)
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HISTORICAL GEOPHYSICAL DATA A HUGE WINDFALL FOR CORAZON

REGIONAL 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 specific geophysical characteristics

• Multiple “EL Deposit like” targets

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

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Muskeg Terrain
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PRIORITY TARGET Aeromagnetic Image
Chemically and HistoricalDrilling
structurally similar to
Lynn Lake
Fertile for Ni-Cu
Country Rock
sulphides Xenoliths
Twice as large as Lynn
Lake
Source of magma and Matrix HC
IP Anomaly
feeder-zone identified
– coincident with
geophysical anomaly
Eastern Magnetic
Gravity Image
Domain
0 km 1 km
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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 with geophysical anomaly

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PRIORITY IDENTIFIED

• +20 Priority 1 targets

• Matrix high-chargeability anomaly a standout

• +600m strike & open

• Aligned with ‘feeder zone”

• Chargeability +40ms

• Feeder Zone (“Neck”) with a potential strike of ~1.5 km

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Gradient Array
IP Chargeability Image
Historical
Drilling
Country Rock
Xenoliths
Matrix HC
IP Anomaly
Priority 1
IP Targets
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Country Rock
Xenoliths
Historical
Drilling
Matrix HC
IP Anomaly
Outline
Off-Hole
DHEM Conductors
Hole FLC-2017-002
Extensive Sulphide
Mineralisation
Hole FLC-2017-003
Massive Magmatic
Sulphides
Hole FLC-2017-001
VTEM Anomaly
Sulphidic Sediment
0 km 1 km
Aeromagnetic Image IP Chargeability Image
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EXTENSION OF TARGET ZONE

• Extending IP southwest of Matrix HC IP Anomaly – covering the Feeder Zone

• Completing “walk-mag” and VLF over the Matrix HC IP target and extensions

DRILLING

• Recommencing as soon as possible – targets include:

• Extension of semi-massive and massive sulphide zone within hole FLC-2017-003

• Two off-hole conductors identified by DHEM

  • 1 - strong response +10,000 siemens indicative of massive sulphide, from 340m below surface

  • 2 – at about 250m below surface

• Other strong IP/mag anomalies within the Matrix HC IP Anomaly

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Country Rock
Xenoliths
Historical
Drilling
Matrix HC
IP Anomaly
Outline
Off-Hole
DHEM Conductors
Hole FLC-2017-002
Extensive Sulphide
Mineralisation
Hole FLC-2017-003
Massive Magmatic
Sulphides
Hole FLC-2017-001
VTEM Anomaly
Sulphidic Sediment
0 km 1 km
Aeromagnetic Image IP Chargeability Image
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Project Quality

Two exceptional projects with demonstrated prospectivity in key, demand-driven commodities

Both projects have the capacity for large economic mineral deposits

Active Exploration Programme

Proven explorer with a quality, dedicated, motivated team

Multiple opportunities for success – exploration activities on-going at both projects

Potential to deliver significant value appreciation for shareholders

Corporate

Strong market awareness of Company’s growth potential – high liquidity and trading volumes in CZN shares

Fully funded to pursue next phase of exploration

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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