CORAZON MINING LIMITED — Investor Presentation 2019

May 6, 2019

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Conference Presentation 7, 8 & 9 May 2019

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

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Forward Looking Statement
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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.

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 presentation, 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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Capital raising via a Share Purchase Plan for Shareholders is currently in progress

ASX: CZN

Total Ordinary Shares on Issue	1.381m(1)
Options on issue	145m
Market Capitalisation($0.004/share)	$5.52m
Share Price Trading Range (1 year)	$0.003-$0.013
Average Daily Trading Volume	1.03m
Cash	$608k(1)

(1) – Post Placement (ASX Announcement 3 April 2019)

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	37%
Board and Management	1.6%
Hanking Australia Investments	11.8%
Crescent Nominees Ltd	7.7%

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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Two Quality Projects – Key Demand Driven Commodities
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CZN has discovered two large sulphide systems in the last two years

Lynn Lake Nickel-Copper-Cobalt

Old Mining Centre Large JORC Resource Base Redevelopment Opportunity Exciting Ni Sulphide Exploration Play

Mt Gilmore Copper-Cobalt-Gold

Newly Recognised Area Large Project – Little Historical Work Cu-Co Dominant Sulphide Mineralisation

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Two Quality Projects – Recent Work Adds Value
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Enormous value has been added to both projects over the last few months

Lynn Lake Nickel-Copper-Cobalt

New JORC Resource

Ground-breaking metallurgical testwork results

• Ni concentrate – 26% Ni grade at 71% recovery

• Cu concentrate – 27% Cu grade at 77% recovery (Optimisation expected to improve recoveries)

Fraser Lake Complex - 2017 Discovery

• 53.1m @ 0.4% Ni & 0.18% Cu (disseminated)

• 0.29m @ 2.86%Ni & 0.89%Cu (semi-massive) (Feeder Zone to system yet to be discovered – further drilling required)

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Two Quality Projects – Recent Work Adds Value
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Mt Gilmore Copper-Cobalt-Gold

New giant copper-cobalt-sliver-gold geochemical anomalies Copper sulphide targets - an additional exciting focus for exploration at the project

Enormous value has been added to both projects over the last few months

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Mt Gilmore Project New South Wales

Main focus of activity for Corazon

PROJECT SUMMARY – A NEW DISCOVERY OF A LARGE SULPHIDE SYSTEM

• Project hosts key demand-driven commodities for booming rechargeable battery sector

• Most advanced prospect is a unique cobalt dominant sulphide deposit – Cobalt Ridge

• Drilling has focused on a small area – high-grade cobalt mineralisation

• Potential target extensions to mineralisation defined

• Metallurgical test work has produced high-value metal concentrates as well as cobalt and copper sulphates suitable for use in the Rechargeable Battery Sector

• The greater Mt Gilmore Project has been subjected to very little modern exploration

• Recent surface sampling has generated new soil geochemical anomalies over a large area

• Metal and mineral association suggests source of anomalism is a large concealed Intrusive Related Copper Sulphide system

• Three priority +1 kilometre anomalies exist over a +10 kilometre strike

• Dominant mineral association of Cu-Co-Ag-Sb-Au-Mo-Zn-Bi-Se-In-Cd-Ga

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Mt Gilmore Project – Point of Difference
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THE COBALT RIDGE PROSPECT

• First World location

• Cobalt dominant sulphide mineralisation

• Simple, low capital processing options

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

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Mt Gilmore
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• Quality products

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Grafton
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Sulphide Mineralisation
Metallurgical Testwork - ASX announcement date 17 [th] May 2018
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High Value Metal Con POX
Solutions
Mt Gilmore Cobalt Sulphate
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Mt Gilmore Project - Cobalt Ridge Prospect
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QUARTZ-TOURMALINE BRECCIAS SPATIALLY ASSOCIATED WITH COBALT-COPPER MINERALISATION

UNTESTED POTENTIAL

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8 %Co
COBALT-COPPER MINERALISATION 2m @ 0.64 %Co, 1.66
(Historical Workings)
%Cu, 0.13 g/tAu
in Reconnaissance Drilling

Tourmaline is a common mineral within
hydrothermal deposits – typically distal
to the “core” of the system Cobalt Ridge
Drilled Area
Quartz-Tourmaline Breccias

Cobalt Ridge breccias indicate a long-
lived, structurally hosted, intense
5m @ 2.14 %Co, 0.33 %Cu, 15.2 g/tAu, 0.42
hydrothermal environment 0.42 g/tAu %Cu and 0.02 %Co
CZN Drill Result - Within Main Lode
in Rock-Chip
Intercept of 27m @ 0.47 %Co
3.34 %Co
Recovered from “Copper Ore”
(Historical Mine Production Reports)
Cobalt in Soils Image 9
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Geology + Copper
Mt Gilmore Project – Recent Results in Soils Image
COBALT RIDGE – ONE PROSPECT WITHIN A LARGE
PROJECT AREA

Multiple occurrences of late-1800’s / early-1900’s
copper/gold workings

NEW discovery - “district scale” geochemical anomaly
coincident with basement of the Mt Gilmore Trend

Cobalt Ridge Prospect (the main focus of exploration to
date) is distal to the main geochemical anomaly within
the Mt Gilmore Trend
 Compelling indicators for “Intrusive Related” and 22 km Strike
“Replacement” style Copper-Gold Deposit models
of Prospective

Early stage play – very little previous exploration Basement

Existing analogies in the New England Orogen for the
style of mineralisation identified Cobalt Ridge Prospect
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21.6 %Cu
Geology + Copper
361 ppmAg
Mt Gilmore Project – Recent Results in Soils Image 0.17 g/t Au
0.64 %Cu
176 ppmCo 0.78 %Cu
GEOCHEMICAL ANOMALIES UNDERPINNED 294 ppmMo 148 ppmCo
0.12 g/tAu
BY HIGH-TENOR ROCK SAMPLES
10.75 %Cu
180 ppmCo 0.41 %Cu

The recognition that numerous historical small 0.11 g/tAu 409 ppmCo
scale workings are part of a much larger system is 74.7 ppmAg 0.82 g/tAu
a significant advancement for the project 0.52 %Zn 0.35 %Zn

High-grade mineralisation interpreted as “leakage 5.04 %Cu 7.35 %Cu
structures” extending from possible concealed 1,795 ppmCo 1.29 g/tAu
copper sulphide rich hydrothermal centres 1.03 g/tAu 88 ppmAg
 Tenor of grade and the composition of the 46 ppmMo 16.3 %Cu
alteration/sulphide assemblages are extremely 2.55 %Cu 393 ppmCo
encouraging 209 ppmCo 238 ppmAg
171 ppmMo
13.55 %Cu
12.75 %Cu 898 ppmCo
15.15 g/tAu
1,250 ppmCo
66 ppmAg
0.19 g/tAu
474 ppmMo
93 ppmAg
0.34 %Zn
885 ppmMo
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Geology + Copper in Soils Image

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MAY QUEEN TARGET Initial field checks identify strong propylitic alteration - chlorite (Chl), magnetite (Mag), epidote (EPI) and sulphide mineralisation - chalcopyrite (CPY), pyrite (PY) and pyrrhotite (PYH).

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Mt Gilmore Exploration – Several Substantial Priority Anomalies
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FAVOURABLE GEOLOGICAL SETTING

FAVOURABLE GEOLOGICAL SETTING	FAVOURABLE GEOLOGICAL SETTING
Hydrothermally altered basaltic and volcano- sedimentary basement rocks Hydrothermal event associated with a mafic May Queen Cu-Co-Ag-Zn-Mo-Bi-Se-In-Cd-Ga+As-Sb Lantana
	intrusive suite (gabbro – diorite – quartz diori tonalite – granodiorite with porphyry apophys Geochemical anomalies associated with Cu-Co-Ag-Zn-As-Au-Sb-Mo-Bi-Se-In-Cd-Ga
	disseminated sulphides – chalcopyrite-pyrrho pyrite Chalcophile elements and changes in geochemical signatures across target areas

• Hydrothermal event associated with a mafic intrusive suite (gabbro – diorite – quartz diorite – tonalite – granodiorite with porphyry apophyses)

• Geochemical anomalies associated with disseminated sulphides – chalcopyrite-pyrrhotitepyrite

Gordonbrook Hill Cu-Co-Ag-Cu/Zn-Au-Sb-Mo-Se-In-Ga+Bi-Te

• Chalcophile elements and changes in geochemical signatures across target areas are indicative of ‘Intrusive Related’ and ‘Replacement’ style copper-gold hydrothermal systems

(Cu-Co-Ag-Sb-Au-Mo-Zn-Bi-Se-In-Cd-Ga)

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Mt Gilmore Trend – Strong Multi-Element Association
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COPPER COBALT SILVER
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Soil Sampling Assay Images

Geochemical images generated from a dataset only containing ME-MS61 assays, subset on a 200m x 200m grid with image using a north-eastern sun-angle

Cobalt data is further subset to exclude soils possibly affected by the ultramafic rocks to the northeast of the Mt Gilmore Trend

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Mt Gilmore Project – Overview
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UNIQUE - EARLY STAGE - DISTRICT-SCALE EXPLORATION PLAY

• Surface mineralisation supports evidence of a large hydrothermal system at Mt Gilmore

• Indicative of “Intrusive Related” or “Replacement” style of deposits

• The size of the geochemical anomalies are substantive

• The targeted source of the surface anomalism (sulphide mineralisation) is expected to be concealed – depth not yet defined

• The composition of the sulphide assemblages and intensity of alteration and brecciation within exposed (“leakage”) structures is encouraging

• Geological setting of Mt Gilmore is critical to the unique high cobalt content of the mineralisation

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Geology & Copper in Soils Image

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Corazon – Way Forward
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RIGHT COMMODITIES – PERFECT TIMING

 Mt Gilmore Copper-Cobalt-Silver-Gold Sulphide Project

• Early stage, district scale copper play with strong cobalt signature

• Several compelling targets for copper-cobalt sulphide deposits

• Geophysics to test large geochemical anomalies for concealed sulphide bodies

• Cobalt Ridge – unique cobalt dominant sulphide deposit – room to grow

 Lynn Lake Nickel-Copper-Cobalt Sulphide Project (Appendix)

• One of the best nickel exploration plays in North America

• Forecast demand for nickel is very strong

• New metallurgical results significantly enhances this development opportunity

• Seeking partners with development capacity

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Appendix

LYNN LAKE PROJECT Nickel-Copper-Cobalt Sulphide Canada

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

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Lynn Lake Project Manitoba Province – Canada

PROJECT SUMMARY - CLASS 1 NICKEL - HOT COMMODITY

• Project focused on key demand-driven commodities for booming rechargeable battery sector

• Strategically located in North America

• Long-lived proven historical mining centre – closed in 1976

• Excellent infrastructure – town initially established for mine

• Large resource foundation – 15Mt JORC

• Ground-breaking metallurgy compared with historical operation – new high value products

• Modern conventional floatation methods/reagents

• 26% nickel concentrate with recoveries of 71% ; plus a

• 27% copper concentrate with recoveries of 77%

• Expectation for discovery of new deposits

• New understanding of ore systems key to discoveries

• Several recent discoveries from drilling geophysical anomalies

• New large magmatic sulphide system uncovered five kilometres south of Mine

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Lynn Lake Nickel-Copper-Cobalt Sulphide Project
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PROLIFIC HISTORICAL MINING CENTRE

• 100% controlled[(1)] by Corazon

• Big system – multiple orebodies

• Excellent infrastructure – power, water & township

DEVELOPMENT POTENTIAL

• New JORC Resources

• (ASX announcement date 11[th] October 2018)

Renewed focus on Lynn Lake’s development potential

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• “Game changing” metallurgical results

• (ASX announcement date 11[th] & 12[th] February 2019)

PROVEN EXCITING EXPLORATION UPSIDE

• Modern discoveries within Mining Centre

• New discovery of a large magmatic sulphide system 5 km to the south at the Fraser Lake Complex

“A Plug” Mine – 3 km Strike

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(1) Option Agreement ASX Announcement 09/08/12, Purchase Agreement ASX Announcement 01/04/15

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Lynn Lake – New High-Value Concentrate
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EXCEPTIONAL METALLURGICAL RESULTS A “GAME-CHANGER” FOR THE PROJECT

• For the first time – separate high-value Copper and Nickel/Cobalt concentrates have been produced

• Excellent grades and recoveries – on-going work will deliver improvements

• Nickel concentrate – 26% Ni grade at 71% recovery

• Copper concentrate – 27% Cu grade at 77% recovery

Past mine produced a nickel concentrate of 8%-15% Ni + 2% Cu and an additional separate Cu concentrate

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Feed grade 1.84% Ni, 0.68% Cu

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Lynn Lake Nickel-Copper-Cobalt Sulphide Project
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HISTORICAL PRODUCTION

HISTORICAL PRODUCTION MODERN DISCOVERIES A Plug Mine Tango - 2010 18Mt @ 0.88% Ni + 0.47% Cu 17m @ 0.6% Ni & 0.30% Cu EL Plug Mine A Plug Disco - 2008 1.9Mt @ 2.4% Ni + 1.15% Cu 18m @ 1.5% Ni, 0.70% Cu & 0.04 %Co EL Plug JORC RESOURCE EL Deeps - 2011 (Indicated + Inferred) * 23.75m @ 3.34% Ni, 1.54% Cu & 0.079 %Co At 0.5% Base Cut 15.3Mt @ 0.72% Ni, 0.34% Cu & Fraser Lake Complex - 2017 0.034% Co Fraser Lake 53.1m @ 0.4% Ni, 0.18% Cu & At 0.7% Base Cut** 0.02%Co (disseminated) 5.2Mt @ 1.00% Ni, 0.41% Cu & 0.29m @ 2.86%Ni, 0.89%Cu, 0.044% Co 0.10%Co (semi-massive) “A Plug” Mine – Workings & Drilling

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

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Lynn Lake – Extensive Resource Base & Potential
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Resource
Study Areas
Metallurgical
Sample
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LARGE RESOURCE – FOUNDATION FOR DEVELOPMENT

• A further 11 deposits yet to be reviewed for remnant resources

• Modern discoveries within mining centre prove additional potential

	JORC Category Base Cut Ni % Tonnes Ni % Cu % Co % Indicated 0.5 12,899,000 0.7 0.33 0.034							Tonnes Ni Cu Co 89,700 42,900 4,400
	JORC Category	Base Cut Ni %	Tonnes	Ni %	Cu %	Co %		Tonnes
								Ni	Cu	Co
	Indicated	0.5	12,899,000	0.7	0.33	0.034		89,700	42,900	4,400
Resource Study Areas	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
	JORC	Base Cut							Tonnes
	Category	Ni%	Tonnes	Ni %	Cu %	Co %		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
	Tl	07	5183000	100	041	0044		51900	21200	2300
	ota	.	,,	.	.	.		,	,	,

	JORC Category	Base Cut Ni%	Tonnes	Ni %	Cu %	Co %		Ni	Tonnes 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
	Lynn Lake - Mineral Resource Estimate				- ASX announcement date 11th October 2018

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Lynn Lake Exploration – In the Shadow of a Headframe
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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

Drilling at FLC - 2017

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

Regionally, numerous untested geophysical targets

Exploration ongoing – although current focus is on the development potential of Lynn
Lake in a market with increasing demand for nickel-copper-cobalt
Massive
Sulphide Blebs at
FLC
Muskeg – Difficult Terrain to Explore
Exploration potential
underpinned by a
large resource base
and excellent
infrastructure
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Competent Person Statement
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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 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.

The information in this report that relates to the Processing and Metallurgy for the Lynn Lake Project 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.

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.

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CONTACT

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

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