CORAZON MINING LIMITED — Investor Presentation 2019

Feb 6, 2019

7[th] February 2019

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Mt Gilmore Project New South Wales

Technical Presentation District Scale Copper-Cobalt-Silver-Gold Anomaly

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 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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Corazon - 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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Mt Gilmore Project – Overview
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LOCATION, OWNERSHIP & TENURE

PROJECT HISTORY

North-eastern NSW - 35km northwest from the city of Grafton

Numerous 1800’s/1900’s historic copper, gold & iron workings, including significant shafts, adits & drives Limited piecemeal modern exploration

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Excellent access throughout Project Corazon earning 80% in Licence EL8379

Historical mine records + sampling of workings - indicate high-grade copper throughout Project Past drilling predominantly targeting one small prospect within a large project area – Cobalt Ridge

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CORAZON’S EXPLORATION SINCE JUNE 2016

Three drilling programs at the Cobalt Ridge cobalt-copper-gold sulphide deposit

Detailed metallurgical testwork on the Cobalt Ridge mineralisation Detailed geophysics targeting the Cobalt Ridge prospect and extensions

Regional prospecting, including 3,893 soil samples and 230 rock chip/grab samples, completed throughout Project

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Mt Gilmore Project – Point of Difference – Sulphide Cobalt
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THE COBALT RIDGE PROSPECT
 ‘First World’ location +90% of metal captured
in <10% of the mass feed

Cobalt dominant sulphide mineralisation
via simple flotation

Simple, low capital processing options processing [(1)]

Quality products generated including ‘battery-
grade’ cobalt/copper sulphate [(1)]
High Value
Cobalt Ridge - Sulphide Mineralisation Metal Concentrate POX
Solutions Mt Gilmore - Cobalt Sulphate
(1) ASX Announcement 17 May 2018
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Mt Gilmore Project – Recent Results
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NEW TARGETS – NEW MODEL

• Discovery of a new “district scale” geochemical anomaly

• Compelling indicators for “Intrusive Related” and “Replacement” style Copper-Gold Deposit models

• Existing analogies in the New England Orogen for the style of mineralisation identified

• Early stage play – very little previous exploration

• 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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Mt Gilmore +22km
Geochemical Trend
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Geology & Copper in Soils Image
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Mt Gilmore Project – Recent Results
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FAVOURABLE GEOLOGICAL SETTING

• Basement = hydrothermally altered basaltic and volcano-sedimentary rocks

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

• Geochemical anomalies associated with disseminated sulphides – chalcopyrite-pyrrhotite-pyrite

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

• Locally, there are several possible sources for the unique cobalt-rich style of mineralisation

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Geology & Copper in Soils Image

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21.6 %Cu
Mt Gilmore Project – Recent Results 361 ppmAg0.17 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 late-1800’s early- 0.11 g/tAu 409 ppmCo
1900’s small scale workings are part of a much 74.7 ppmAg 0.82 g/tAu
larger system is a significant advancement for the 0.52 %Zn 0.35 %Zn
Project
5.04 %Cu 7.35 %Cu
 High-grade mineralisation interpreted as “leakage 1,795 ppmCo 1.29 g/tAu
structures” extending from possible concealed 1.03 g/tAu 88 ppmAg
copper sulphide rich hydrothermal centres 46 ppmMo
16.3 %Cu
 Tenor of grade and the composition of the 2.55 %Cu 393 ppmCo
alteration/sulphide assemblages are extremely 209 ppmCo 238 ppmAg
encouraging 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
Geology & Copper in Soils Image 8
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Mt Gilmore Exploration – Several Substantial Priority Anomalies
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INITIAL FOCUS

A LARGE AREA – MULTIPLE TARGETS

• May Queen to Gordonbrook Hill area to become a major focus for exploration

• Geophysics critical to defining targets for follow-up drilling

• Source(s) of anomalism expected to be concealed

• Aeromagnetics – defining structures and replacement (skarn/magnetite) style environments

• Induced Polarisation (IP) – looking for large disseminated sulphide bodies

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Mt Gilmore Trend – Strong Multi-Element Association
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COPPER COBALT SILVER
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Soil Sampling Result 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 Trend – Strong Multi-Element Association
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COPPER MOLYBDENUM CU/ZN RATIO
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Soil Sampling Result 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 Vs Cobalt Ridge Prospect
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May Queen to Gordonbrook Hill Target Area Cobalt Ridge Prospect

COBALT RIDGE DISTAL TO MAIN GEOCHEMICAL ANOMALIES

• Cobalt Ridge Deposit is ~8 km south of the main Gordonbrook Hill geochemical anomaly

• Geochemical signature of Cobalt Ridge supports a distal environment within a hydrothermal system

• Question arises – is Cobalt Ridge a satellite deposit and part of the main Mt Gilmore Trend hydrothermal feature to the north – or a stand-alone hydrothermal centre?

• Recent drilling has resulted in a good understanding of structural controls on the mineralisation at Cobalt Ridge

• Geochemical trends identified on a prospect scale at Cobalt Ridge reflect those observed within the greater Mt Gilmore Project

• The Cobalt Ridge Deposit is not fully drill tested and remains open in all directions

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Mt Gilmore Project - Cobalt Ridge Prospect
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QUARTZ-TOURMALINE BRECCIAS

NUMEROUS AREAS YET TO BE TESTED IN THE COBALT RIDGE AREA

SPATIALLY ASSOCIATED WITH COBALT-COPPER MINERALISATION

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8 %Co
2m @ 0.64 %Co, 1.66
(Historical Workings)
%Cu, 0.13 g/tAu
in Reconnaissance Drilling
Cobalt Ridge
Quartz-Tourmaline
Drill Defined
Breccias
Mineralisation
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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

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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Cobalt in Soils Image

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Cobalt Ridge – Concealed Geophysical Targets
Plan High Cobalt in Soils Image
Chargeability
Anomalies
Granite Cobalt Ridge
Contact Drilling
3D-IP
Chargeability Images
High
Chargeability
Intrusive
Body?
Oblique View 14
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Mt Gilmore Project – Summary
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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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Mt Gilmore +22km
Geochemical Trend
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Geology & Copper in Soils Image

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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.

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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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