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Investor Presentation Exploration and Development

5 April 2022

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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CORAZON MINING LIMITED

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A stable and driven Company with market support that has built a quality nickel sulphide project in a very challenging market

Right commodities – perfect timing

Well funded exploration and resource development programs

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Global Nickel Supply Capacity and Demand[(1)]

(1)

Source: Rystad Energy BatteryMaterialsCube, Rystad Energy research and analysis

CORAZON MINING LIMITED – AT A GLANCE

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Capital Structure – ASX:CZN	Capital Structure – ASX:CZN
Issued Shares	356m
Quoted Options(1)	26.5m
Unlisted Options/Rights(1)	20.2m
Market Cap(@ $0.034/share)	$12.1m
Cash (Dec 2021 Quarterly)	$2.5m

Shareholders	Shareholders
Number of Shareholders	2,649
Top 20 Shareholders	48.94%
Delphi	17.1%
Blackstone Minerals Ltd	14.3%

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$0.060 14,000,000
Volume CZN A$ Share Price
$0.050 12,000,000
10,000,000
$0.040
8,000,000
$0.030
6,000,000
$0.020
4,000,000
$0.010 2,000,000
$- -
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52W High $0.052 Low $0.029 Average Volume Traded 778,900

Board of Directors	Board of Directors
Terry Streeter	Non-Exec Chairperson
Brett S Smith	Managing Director
Dr Mark Yumin Qiu	Non-Exec Director
Jonathan Downes	Non-Exec Director

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(1) Quoted Options exercisable at $0.14 by 10 July 2022.
Additional Unlisted Options include 250k at $0.14 by 10 July 2022; 4
19.54m at $0.10 by 20 May 2024 and 500k Performance Rights
dated 20 December 2023
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CZN ENTITLEMENT OFFER

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Event	Date
Last day to extend the Closing Date	6 April 2022
Closing Date* (5:00pm WST)	11 April 2022
Securities quoted on a deferred settlement basis	12 April 2022
ASX notified of under subscriptions	14 April 2022
Issue date and lodgement of Appendix 2A with ASX applying for quotation of the Shares	19 April 2022
Quotation of Shares issued under the Offer*	20 April 2022

*The Directors may extend the Closing Date by giving at least three Business Days’ notice to ASX Prior to the Closing Date. Accordingly, the date the Shares are expected to commence trading on the ASX may vary.

1 Record Date for determining Entitlement, 14 March 2022

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CORAZON MINING LIMITED - BATTERY METALS FOCUS PROJECT LOCATION BENEFITS OF 1ST WORLD JURISDICTIONS

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LYNN LAKE – 100% NICKEL-COPPER-COBALT

Prolific historical producing area
Large JORC resources - +80% Indicated/Measured
Redevelopment opportunity
Exciting discovery potential

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HEAD OFFICE
PERTH
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MT GILMORE – 80%

COPPER-COBALT-GOLD

New district scale exploration play
Large copper-cobalt-silver-gold hydrothermal system +20km strike – high-grade surface samples – potential untested by drilling
Includes a drill defined cobalt dominant sulphide deposit

MIRIAM – OPTION EXERCISED TO ACQUIRE 100% NICKEL-COPPER-COBALT

Nickel sulphide deposit discovered in 1969
Extensive high-tenor nickel
Very little modern nickel exploration

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Nickel-Copper-Cobalt

LYNN LAKE PROJECT LOCATION AND INFRASTRUCTURE

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Community Support Services
Hydro-Power Station Rail
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PROLIFIC HISTORICAL PRODUCER

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Farley Shaft
A Shaft
Produced 206,200t Ni and 107,600t Cu
• More than 20 separate deposits
• A Plug – 18Mt @ 0.88% Ni + 0.47% Cu
• EL Plug – 1.9Mt @ 2.4% Ni + 1.15% Cu
Lynn Lake Townsite and Mining Centre 1972
1Mtpa underground operation
• Labour intensive - non-mechanised mining operation
• Selective mining practices
• Development down to ~1,100m below surface
Exploration Drilling 1950’s ‘A’ Shaft 1965
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GEOLOGICALLY UNIQUE WITHIN THE REGION

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JORC Resource Estimate at 0.5% Ni Base Cut - Published 25 [th] October 2021
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NEW MINING STUDIES TO OPTIMISE MODERN PRACTICES

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Current focus on:

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Geotechnical models that will support increasing stope/void sizes and reducing development costs

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Optimising mining and material handling practices and integrating project areas within the Mining Centre

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Improving metallurgical performance to deliver high-value metal concentrates or sulphates suitable for the rechargeable battery sector

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2016 Conceptual Mine Design
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Identifying beneficial tonnages, proximal to mine infrastructure, defined by past drilling

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FRASER LAKE COMPLEX – EXPLORATION FOCUS

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Fraser Lake Complex – 2021 MobileMT Magnetic Inversion Plan

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Lynn Lake Aeromagnetic Image – Source 1997 GeoTEM + 2021 MobileMT Survey

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FRASER LAKE COMPLEX – EXPLORATION FOCUS

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“Pipe-Like”
Gravity Highs
A fertile but difficult exploration scenario
Electromagnetics (EM) has not been effective
•
The FLC is polluted with magmatic (Ni-Cu-Co)
sulphide and barren sulphidic sedimentary xenoliths
• Conductive surface material from extensive swamp,
lake and glacial sand cover
Complex magnetic signature – including magnetic Matrix Tend
IP Chargeability High
remanence issues that influence processing and
interpretations
New gravity (2022) has identified new targets
• Multiple dense pipe-like bodies converging at depth
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Multiple dense pipe-like bodies converging at depth within the centre of the FLC

Gravity Inversion Plan at ~250m below surface – hot colours indicate denser material

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FRASER LAKE COMPLEX – EXPLORATION FOCUS

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A A’
Gravity Inversion Long-Section
A A’
Magnetic Susceptibility Inversion Long Section
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FRASER LAKE COMPLEX – COMPELLING DRILL TARGETS

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Matrix Tend
IP Chargeability
High
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Multiple new untested targets “Fingers” of dense magnetic bodies extending upwards from the core of the FLC Anomalism is highlighted by the Matrix Trend – a mineralised magma channel Nickel tenor of sulphides increasing to the northeast along the Matrix Trend

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FRASER LAKE COMPLEX – DRILLING IMMINENT

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Matrix Tend
IP Chargeability
High
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Substantial pipe-like body Aerial EM (VTEM) conductor at surface in the centre of the pipe

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Hole designed to intersect the surface conductor and the core of the gravity anomaly at ~ 500m below surface

Gravity Inversion Plan at ~250m below surface – hot colours indicate denser material

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Drilling to commence in early April – drill rig is on site and set up over the initial target

3D Image of gravity inversion contours and proposed drill hole FLC2022-041

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VTEM Tau
Conductor
Gravity Inversion
Level Contours
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Nickel–Copper

MIRIAM NICKEL PROJECT – WESTERN AUSTRALIA

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Option exercised to acquire 100% of Project Discovered in 1969 – drilling identified a ‘high nickel tenor’ within komatiite hosted massive and disseminated sulphide

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Miriam
North Miriam
Northeast
Miriam
Deposit
Bouchers
North
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Multiple ultramafic channel horizons – a 2.5 km strike includes the Miriam Deposit and the Miriam North and Bouchers North nickel prospects

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Miriam Deposit discovery drilling 1969-1974 returned:

9.6m @ 5.60% Ni
12.5m @ 0.56% Ni
3.2m @ 2.59% Ni
0.9m @ 5.57% Ni
6.1m @ 0.90% Ni

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Excellent potential along strike and at depth from known prospects – minimal nickel exploration over the past 20 years

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