CORAZON MINING LIMITED — Investor Presentation 2019

Feb 18, 2019

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Company Presentation

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19-21 February 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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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.

Corazon 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.

Corazon is not aware of any new information or data that materially affects the information included in this ASX release, and 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 Corazon’s control, 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 Corazon’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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ASX: CZN

Total Ordinary Shares on Issue	1.265m
Options on issue	145m
Market Capitalisation($0.005/share)	$6.33m
Share Price Trading Range (1 year)	$0.003-$0.018
Average Daily Trading Volume	1.23m
Cash (31st December 2018)	$585k

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	38%
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 the potential for future project funding and offtake opportunities

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Two Quality Projects
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Lynn Lake Nickel-Copper-Cobalt

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

Mt Gilmore Cobalt-Copper-Gold

Newly Recognised Area Large District Scale Target Cobalt Dominant Sulphide Mineralisation

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Booming Rechargeable Battery Sector
Traditional Emerging
Energy Sources
Energy Sources
Urbanisation

 Desire and demand for alternate
Growth in traditional energy
renewable energy sources
sector not supported publicly
and will struggle to keep pace
with demand

  Rapid unprecedented change Government policy and
Power storage and
environmental conscience

management critical for Hunger for more energy
to drive change in favour
the optimisation of 
Consumer of metals of EV ‘s
energy sources

Pollution hot-spots
Power
Storage
EV Revolution 5
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Traditional Emerging Energy Sources Energy Sources Urbanisation Despite   Growth in traditional energy overwhelming public Desire and demand for alternate sector not supported publicly ~~se~~ nt ~~i~~ m ~~e~~ n ~~t~~ for renewable energy sources “ and will struggle to keep pace ~~G~~ reen”, with demand inve ~~s~~ t ~~m~~ en ~~t~~ i ~~n~~ “Traditional ~~En~~ e ~~rg~~ y   Power storage and Sources” still dwarfs Government policy and environmental conscience management critical for investment in the to drive change in favour the optimisation of “Renewable Energy of EV ‘s energy sources Sector” Power Storage EV Revolution 6

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Mt Gilmore Project New South Wales

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THE COBALT RIDGE PROSPECT

• First World location

• Cobalt dominant sulphide mineralisation

• Simple, low capital processing options

• Quality products

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

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Mt Gilmore
Grafton
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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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DETAILED EXPLORATION OVER A SMALL AREA

• 99 drill holes for 12,684.67 metres

• Close-spaced surface soil and rock chip sampling

• Mineral petrology

• Metallurgical testwork

• Detailed geophysics (IP-Mag-Rad)

• Environmental baseline studies

• Environmental rehabilitation of historical drilling and costeaning

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Corazon’s Rehabilitation: leaving little evidence of exploration

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QUARTZ-TOURMALINE BRECCIAS SPATIALLY ASSOCIATED WITH COBALT-COPPER MINERALISATION

UNTESTED POTENTIAL

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8 %Co
2m @ 0.64 %Co, 1.66
(Historical Workings)
%Cu, 0.13 g/tAu
in Reconnaissance Drilling
Cobalt Ridge
Drilled Area
Quartz-Tourmaline Breccias
5m @ 2.14 %Co, 0.33 %Cu, 15.2 g/tAu, 0.42
0.42 g/tAu %Cu and 0.02 %Co
Best CZN Drill Result Within Main
in Rock-Chip
Lode Intercept of 27m @ 0.47 %Co
3.34 %Co
Recovered from “Copper Ore”
(Historical Mine Production Reports)
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• Tourmaline is a common mineral within hydrothermal deposits – typically distal to the “core” of the system

• Cobalt Ridge breccias indicate a longlived, structurally hosted, intense hydrothermal environment

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Cobalt in Soils Image
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Geology + Copper
Mt Gilmore Project – Recent Results in Soils Image
COBALT RIDGE
ONE PROSPECT WITHIN A LARGE PROJECT AREA
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Multiple occurrences of late-1800’s / early-1900’s
copper/gold workings

NEW discovery by CZN - “district scale” geochemical
anomaly coincident with basement of the Mt Gilmore
Trend

Compelling indicators for “Intrusive Related” and
“Replacement” style Copper-Gold Deposit models

Existing analogies in the New England Orogen for the 22 km Strike
style of mineralisation identified
of Prospective

Early stage play – very little previous exploration Basement

Cobalt Ridge Prospect (the main focus of exploration to
date) is distal to the main geochemical anomaly within
the Mt Gilmore Trend
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GEOCHEMICAL ANOMALIES UNDERPINNED BY HIGH-TENOR ROCK SAMPLES

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• The recognition that numerous historical small scale workings are part of a much larger system is a significant advancement for the Project

• High-grade mineralisation interpreted as “leakage structures” extending from possible concealed copper sulphide rich hydrothermal centres

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• Tenor of grade and the composition of the alteration/sulphide assemblages are extremely encouraging

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FAVOURABLE GEOLOGICAL SETTING

FAVOURABLE GEOLOGICAL SETTING Hydrothermally altered basaltic and volcano- sedimentary basement rocks Hydrothermal event associated with a mafic intrusive suite (gabbro – diorite – quartz diori tonalite – granodiorite with porphyry apophys May Queen Cu-Co-Ag-Zn-Mo-Bi-Se-In-Cd-Ga+As-Sb Lantana Cu-Co-Ag-Zn-As-Au-Sb-Mo-Bi-Se-In-Cd-Ga	FAVOURABLE GEOLOGICAL SETTING Hydrothermally altered basaltic and volcano- sedimentary basement rocks Hydrothermal event associated with a mafic intrusive suite (gabbro – diorite – quartz diori tonalite – granodiorite with porphyry apophys May Queen Cu-Co-Ag-Zn-Mo-Bi-Se-In-Cd-Ga+As-Sb Lantana Cu-Co-Ag-Zn-As-Au-Sb-Mo-Bi-Se-In-Cd-Ga
	Geochemical anomalies associated with 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
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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EXPLORATION UNDERWAY

• New target areas to be mapped in detail and rock-chip sampled if required

• Approximately 40 line kilometres of ground IP geophysics has been planned as an initial test of the three main target areas – currently talking to contractors

• Skarn (magnetite) replacement of basement and intrusive units is an encouraging indicator of hydrothermal activity – exploration of the northern 14 kilometres of the project area would benefit from completion of heli-mag

• Additional permits for drilling new targets and extensions at Cobalt Ridge are currently being sought.

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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

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• 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

Geology & Copper in Soils Image

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Lynn Lake Project Canada

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PROLIFIC HISTORICAL MINING CENTRE

• 100% controlled[(1)] by Corazon

Renewed focus on Lynn Lake’s development potential

• Big system – multiple orebodies

• Excellent infrastructure – power, water & township

DEVELOPMENT POTENTIAL

• New JORC Resources

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

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“A Plug” Mine – 3 km Strike
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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 at the Fraser Lake Complex, located 5 kilometres to the south

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

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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Resource
Study Areas
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RESOURCE UPSIDE WITHIN THE MINING CENTRE

• 11 deposits yet to be reviewed for remnant resources

• Modern exploration has identified new untested targets

JORC Category	Base Cut Ni %	Tonnes	Ni %	Cu %	Co %		Tonnes	Tonnes	Tonnes
							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

JORC Category	Base Cut Ni%	Tonnes	Ni %	Cu %	Co %			Tonnes
							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
Lynn Lake - Mineral Resource Estimate -

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EXCEPTIONAL METALLURGICAL RESULTS ARE A “GAME-CHANGER” FOR THE PROJECT

• For the first time, separate Copper and Nickel/Cobalt concentrates have been produced

• Past processing and metallurgical work delivered a 10%-15% Nickel concentrate

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

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

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

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Feed grade 1.84% Ni, 0.68% Cu

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Details of Metallurgical Testwork - ASX announcements dated 11[th] and 12[th] February 2019

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IN THE LAST TWO YEARS

CORAZON HAS DISCOVERED TWO LARGE SULPHIDE SYSTEMS

• Lynn Lake – Fraser Lake Complex – 2017

• Nickel-copper-cobalt magmatic sulphide deposit

  • Looking for the massive sulphide feeder zone

  • Further drill testing required

• Mt Gilmore – Mt Gilmore Trend – 2018/2019

• District scale geochemical anomaly

• Indicative of concealed “Intrusive Related” or “Replacement” style of copper sulphide mineralisation

  • Cobalt rich system

  • Geophysics proposed as an initial test for sulphides at depth

NOW WE’RE LOOKING FOR ECONOMIC DEPOSITS WITHIN THESE SYSTEMS

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Fraser Lake - IP Chargeability Image

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Mt Gilmore - Cobalt in Soils Image

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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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