CORAZON MINING LIMITED — Investor Presentation 2018

Oct 16, 2018

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Uniquely positioned with quality projects hosting commodities critical for the rapidly growing Rechargeable Battery Sector

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

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.

The Company believes that it has a reasonable basis for making the forward-looking Statements in the announcement based on the information contained in this and previous ASX announcements.

The Company is not aware of any new information or data that materially affects the information included in this ASX release, and the Company confirms that, to the best of its knowledge, all material assumptions and technical parameters underpinning the exploration results in this release continue to apply and have not materially changed.

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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Booming Rechargeable Battery Sector
Traditional Emerging
Energy Sources Energy Sources
Urbanisation
 Growth in traditional energy  Desire and demand for alternate
sector will struggle to keep renewable energy sources
pace with demand
 
Power storage and Government policy and
management critical for environmental conscience to drive

the optimisation of Rapid unprecedented change change in favour of EV ‘s
energy sources 
Hunger for more energy

Consumer of metals
Power

Pollution hot-spots
Storage EV Revolution
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LITHIUM ION (Li-Ion) – BATTERY OF CHOICE

• Better specific energy and power density qualities.

• For EV’s, the relationship between power delivery and specific energy density is critical for the performance.

BATTERY COSTS RAPIDLY FALLING

• Less cost for more energy

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Gaining importance
– EV’s and grid
storage
High capacity –
cell phone, laptop,
camera
Most safe, high
specific power –
EV’s, power tools,
medical
$ $ $ $ $ $
Low Fair Fair High High High
Nickel Cobalt Nickel
Specific Energy : Capacity a battery can hold (Wh/kg) Manganese Cobalt
Specific Power : Ability to deliver power (W/kg) Cobalt Aluminium
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Information Sources: US Dept of Energy (2015),Battery University and Cadex

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The entire EV supply
chain is relying on the
DRC’s cobalt
New growing demand
production to match
for Class 1 nickel
accelerating demand
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Chart Sources: LME Charts, Canaccord Genuity – May 2017.

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COBALT - CRITICAL INGREDIENT FOR Li-Ion BATTERIES

• Cobalt – small market - prices can be driven by sentiment, however, fundamentals support a strong growth in demand

• Electric Vehicle production has by far out-performed forecasts of production

• 2017 demand ~ 118,000t cobalt

• 2027 demand forecast ~ 312,000t cobalt

• International Energy Agency - " Even considering changes in battery technology aimed at reducing cobalt content, demand for the metal is expected to increase by between 500% and 1,250% by 2030 ”

• Securing a stable supply of ethically mined cobalt is a growing concern for battery makers

NICKEL GROWING DEMAND IN ALL SECTORS

• Nickel demand very much pegged to the Stainless Steel production – 6% growth 2017, 9.5% growth Q1 2018

• Growing demand for Class 1 nickel from the Rechargeable Battery and Electric Vehicle sectors

• Global nickel usage growing ~ 2.35 Mt (2018 to date)

• Global nickel stockpiles declining ~ 225,000 t (current)

• Estimate of global nickel usage in EV’s

  • 2018 ~ 60,000 to 80,000 t (~3%)

  • 2025 ~ 220,000 t (~9%)

• Supply to be affected by recent underinvestment in the production of Class 1 nickel and nickel sulphates

Information Sources: Roskill Pariser-Alloy Metals & Steel Market Research 2018, public domain articles

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Projects position Corazon to benefit from growth in the Rechargeable Battery Sector

Lynn Lake

Nickel-Copper-Cobalt

• 100% control of entire historical mining centre

• Beneficial infrastructure and large remnant resources

• Easy development opportunity

• Exciting exploration potential

• Recent drilling has discovered another large magmatic Ni-Cu-Co sulphide system – 5km from historic mine area

Mt Gilmore

Cobalt-Copper-Gold

• Earning into 80% project equity

• A “pure cobalt sulphide play” – strong development opportunity

• Metallurgically easy – simple processing solutions

• Large hydrothermal system – potential untapped

• Very little modern exploration

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Mt Gilmore Project NSW

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THE COBALT RIDGE PROSPECT

• First World location

• Sulphide cobalt dominant mineralisation

• Simple, low capital processing options

• Quality products

Sulphide Mineralisation

+90% of metal captured in <10 of the mass feed via simple flotation processing

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High Value Metal Con POX Solutions
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Project Location Map

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Co Sulphate
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27m @ 0.47% Co, 0.15% Cu
32m @ 0.15% Co, 0.25% Cu
Cobalt Ridge Main Lode
A
Parallel zones of
B mineralisation to 5m @ 2.14% Co, 0.33% Cu
north & south
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MT GILMORE TREND

Large metal-rich corridor >18km strike – underexplored

Widespread Co-Cu-Au anomalism – huge hydrothermal system

Multiple new targets – most basement outcrops anomalous in metals

Detailed work underway to better define new prospects

Good potential for additional Cobalt Ridge lookalikes
Massive bladed magnetite-pyrite- Tourmaline-quartz breccia with copper secondary Quartz-tourmaline- Interpreted Geology, Prospects & Cobalt in
chalcopyrite skarn minerals (azurite/malachite) chalcopyrite breccia Soils Image - Large Mineralised Corridor
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Lynn Lake Project Canada

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PROLIFIC HISTORICAL MINING CENTRE

• Big system – multiple orebodies

• 1 mt/yr operation from 1954 to 1976

• 100% controlled[(1)] by Corazon Mining

• Excellent infrastructure – power, water & township

• Rising metal prices result in a renewed focus on defining Lynn Lake’s development potential

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A Plug Mine
3 Km Long
“A Plug” Mine – Workings & Drilling
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Lynn Lake Township 1972
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• (1) Option Agreement ASX Announcement 09/08/12, Purchase Agreement ASX Announcement 01/04/15

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HISTORICAL PRODUCTION

A Plug Mine

18Mt @ 0.88% Ni + 0.47% Cu

EL Plug Mine

1.9Mt @ 2.4% Ni + 1.15% Cu

CURRENT JORC RESOURCE

(Indicated + Inferred - EL, N, O, P & Disco Zones) *

15.3Mt @ 0.72% Ni, 0.34% Cu & 0.034% Co (0.5% Ni Cut)

5.2Mt @ 1.00% Ni, 0.41% Cu & 0.044% Co (0.7% Ni Cut)

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MODERN DISCOVERIES

Tango - 2010 17m @ 0.6% Ni & 0.30% Cu Disco - 2008

18m @ 1.5% Ni, 0.70% Cu & 0.04 %Co

EL Deeps - 2011

23.75m @ 3.34% Ni, 1.54% Cu & 0.079 %Co Fraser Lake Complex - 2017 53.1m @ 0.4% Ni, 0.18% Cu & 0.02%Co (disseminated) 0.29m @ 2.86%Ni, 0.89%Cu, 0.10%Co (semi-massive)

• = JORC Indicated and Inferred Minerals Resource Estimation presented on next slide

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|---|---|---|---|---|---|---|---|---|
|Lynn Lake - Seeking Resource & Processing Improvements|
|JORC|Base Cut|Tonnes|
|Tonnes|Ni %|Cu %|Co %|
|Category|Ni %|Ni|Cu|Co|
|Indicated|0.5|12,899,000|0.7|0.33|0.034|89,700|42,900|4,400|
|Inferred|0.5|2,403,000|0.86|0.35|0.034|20,600|8,500|800|
|Total|0.5|15,302,000|0.72|0.34|0.034|110,300|51,400|5,200|

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|---|---|---|---|---|---|---|---|---|
|JORC|Base Cut|Tonnes|
|Tonnes|Ni %|Cu %|Co %|
|Category|Ni%|Ni|Cu|Co|
|Indicated|0.7|4,280,000|0.93|0.4|0.044|39,800|16,900|1,900|
|Inferred|0.7|903,000|1.33|0.47|0.043|12,100|4,300|400|
|Total|0.7|5,183,000|1.00|0.41|0.044|51,900|21,200|2,300|

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Lynn Lake - Mineral Resource Estimate - ASX announcement date 11[th] October 2018

Resource Study Areas

DETAILED METALLURGICAL STUDIES UNDERWAY

• First comprehensive processing testwork in more than 50 years

• Substantial modern advances in processing methods expected to identify beneficial processing options

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ONE OF THE BEST NICKEL SULPHIDE EXPLORATION PLAYS IN NORTH AMERICA

• Abundant drill defined mineralisation within Mining Centre outside of resource area

• 11 deposits yet to be reviewed for remnant tonnages

• Regionally, numerous untested geophysical targets

• Exploration ongoing – but currently a major focus on Mining Studies

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Massive Sulphide
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Blebs at FLC
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Muskeg – Difficult Terrain to Explore

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New understanding of deposits + modern exploration techniques = Discovery

Drilling at FLC - 2017

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PROJECT QUALITY

• Two exceptional projects

• Demonstrated prospectivity

• Targeting key, demand-driven commodities – Cobalt and Nickel

ACTIVE EXPLORATION COMPANY – ADDING VALUE & GENERATING NEWS

• The Mt Gilmore Project – Exploration defining a big hydrothermal system – already +15km strike  Expecting to identify more cobalt rich prospects

• A development focus at Lynn Lake - Resource Estimates and Metallurgical Testwork underway - Scoping Studies to follow  Exploration – an on-going secondary focus

Unprecedented change Population growth and urbanisation Energy storage, management and optimisation critical

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ASX: CZN

Total Ordinary Shares on Issue	1,265m
Options on issue	145m
Market Capitalisation($0.008/share)	$10.12m
Trading Range (1 year)	$0.007-$0.03
Average Daily Trading Volume	2.27m
Cash (30th June 2018)	$2.38m

Board of Directors

Clive Jones Non Executive Chairman Brett Smith Managing Director Mark Yumin Qiu Non Executive Director Jonathan Downes Non Executive Director

Shareholders

Top 20 Shareholders	36%
Board and Management	1.74%
Hanking Australia Investments	11.54%
Crescent Nominees Ltd	8.36%

Hanking Australia Investments Pty Ltd

Australian investment vehicle for major Chinese mining house - Hanking Holdings Limited

Listed on Hong Kong SE +HK$1.9B Mkt Cap Proven track record of developing projects in Australia

Hanking provides potential for future project funding and offtake opportunities

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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 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. Smith 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 Mineral Resources for the EL, Disco, ‘N’, ‘O ’and ‘P’ deposits contained within the Lynn Lake Nickel Project is based on information compiled by Mr Stephen Hyland who is a Fellow of the Australasian Institute of Mining and Metallurgy and who has provided expert guidance on resource modelling and resource estimation. Mr Hyland is a Principal Consultant Geologist at HGMC consultants and has sufficient experience 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 the Processing and Metallurgy for the Cobalt Ridge Deposit is based on and fairly represents information and supporting documentation compiled by Damian Connelly who is a Member of The Australasian Institute of Mining and Metallurgy and a full time employee of METS Engineering (METS). Damian Connelly has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity 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’. Damian Connelly consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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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