CORE LITHIUM LTD — AGM Information 2012

Nov 12, 2012

Copper Exploration in Australia’s leading IOCG provinces

2012 AGM Presentation 13[th] November 2012

Disclaimer

• This document has been prepared by Core Exploration Limited (“Core”, “Company”) and provided as a basic overview of the tenements held or controlled by the company. This presentation does not purport to be all-inclusive or to contain all the information that you or any other party may require to evaluate the prospects of the Company.

• None of the Company, any of its related bodies corporate or any of their representatives assume any responsibility for, or makes any representation or warranty, express or implied, with respect to the accuracy, reliability or completeness of the information contained in this document and none of those parties have or assume any obligation to provide any additional information or to update this document.

• To the fullest extent permitted by law, the Company, its related bodies corporate and their representatives expressly disclaim liability for any loss or damage arising in respect of your reliance on the information contained in this document (including your reliance on the accuracy, completeness or reliability of that information), or any errors in or omissions from this presentation, including any liability arising from negligence.

• The mineral tenements of the Company as described in this presentation are at various stages of exploration, and potential investors should understand that mineral exploration and development are high-risk undertakings.

• There can be no assurance that exploration of the Tenements, or any other tenements that may be acquired in the future, will result in the discovery of an economic ore deposit. Even if an apparently viable deposit is identified, there is no guarantee that it can be economically exploited.

• This document contains statements which may be in the nature of forward-looking statements. No representation or warranty is given, and nothing in this presentation or any other information made available by the Company or any other party should be relied upon as a promise or representation, as to the future condition of the respective businesses and operations of the Company.

Core’s achievements in 12 months

1. Discovery of high grade copper and uranium in outcrop and maiden drilling program underway on the 100% owned Fitton Project , in northern S.A.

2. Building a strong position in Australia’s newest IOCG copper exploration hotspot. Core’s now over Albarta Project comprises 20 tenements covering 2,000km[2]

Australia’s new East Arunta IOCG system in the NT

1. Core’s first diamond drilling program intersected copper mineralisation on the 100%owned Yorke Peninsula Project (YP), S.A. in large-scale IOCG setting

4. Roxby South Project tenements have been granted over 400km[2] - only 40km from BHPB’s Olympic Dam mine

1. High grade silver and basemetals identified within huge structural system at new Yerelina Project, S.A.

2. Maintained tight capital structure of only 41.5M shares

Fitton RC Drilling Program

• Core Exploration is currently undertaking ~2500m RC drilling program on its Fitton tenement (EL4569)

• Drilling is targeting shear-hosted uranium-copper-gold mineralisation

• Targets consist of high grade copper and uranium and in outcrop associated with subsurface magnetic anomalies

• Drilling will test 6 magnetic targets at Scott Lee, Choppy, Siri, Livingstone, Sherlock and Hamilton prospects

• Approximately 2000m of drilling completed to date across 20 holes

• Drilling should be completed by the last week of November

• • No assays received yet, but initial results are expected late November

Fitton RC Drilling Program

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Fitton Drill Target Geology

• Uranium, copper and gold mineralisation occurs along a series of ESE trending shear zones within Palaeoproterozoic and Mesoproterozoic rocks of the Mt Painter Inlier.

• Mineralisation is structurally controlled along east-southeast trending shear zones.

• Alteration consists of chlorite+/-hematite+/-magnetite+/-quartz+/- carbonate with late hydrothermal vein quartz.

• Minor brecciation is evident in more competent lithologies such as granite and quartz veins.

• At Scott Lee the shear zone is focussed along a mafic dyke within uranium rich granite of the Moolawatana Suite (1560-1551 Ma).

• Copper mineralisation is composed of secondary malachite after chalcopyritebornite-chalcocite.

• Drilling has encountered highly anomalous uranium (>1000 cps) at Scott Lee.

Fitton geological similarities to Mt Gee

• The Fitton mineralisation appears to have most geological similarities with the Mt Gee Uranium-REE Deposit at Mt Painter.

• Mt Gee deposit contains 69Mlb (31,400T) of U3O8 (Total Resource of 51 Mt at 615 ppm U3O8) within the Paralana U-REE-polymetallic Mineral System

Fitton Mt Gee-Mt Painter

Structurally controlled uranium-copper-gold Structurally controlled uranium-REE-gold - mineralisation copper mineralisation

Shear zone hosted

Breccia hosted

Dominant chlorite-magnetite +/- hematite alteration

Dominant hematite-chlorite alteration

Controlled by ESE structure (Hamilton within major NE structure) Hosted in 1560-1551 Ma granites

Controlled by NE structure

Hosted in 1560-1551 Ma granites

Mineralisation interpreted to be late Delamerian age

Mineralisation interpreted to be late Delamerian age

Fitton Project : Uranium northern South Australia

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• Large mines, mine developments and deposits within the region:

• Beverley Mine 46Mlb U3O8 Resource 7.7Mt @ 0.27% (21,000T U3O8)

• Four Mile Project 71Mlb U3O8 Resource 9.8Mt @ 0.33% (32,000T U3O8)

• Mt Gee 69Mlb U O 3 8

• Resource 51.0 MT @ 0.06% (31,400T U3O8)

• Proven world-class uranium mining district

• Drilling only 25km from uranium mine producing and exporting yellowcake

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Core builds strong position in Australia’s newest IOCG Province

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Figure 1. Core Exploration’s and surrounding tenements and prospect locations, East Arunta IOCG Zone, Northern Territory.
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Albarta in Australia’s new IOCG system

• Core’s Albarta IOCG Project covers 2,000km[2] in Australia’s newly confirmed East Arunta IOCG (Iron Oxide Copper Gold) system in the NT

• The tenements include a number of prospects with high grade copper, gold, uranium, silver and/or REE at surface

• The NTGS (Northern Territory Geological Survey) ground breaking work discovered copper at surface

• Mithril Resources (ASX:MTH) first mover exploration has made further copper discoveries at surface and confirmed copper IOCG mineralisation with drilling

• Core has identified a number of large-scale, regional structures thought to control mineralisation which transect 100km of our new Albarta IOCG tenement package

• Copper (IOCG) mineralisation is associated with structurally controlled fluoriterich, iron-oxide breccias, hosted by Mesoproterozoic granites

• Outcropping IOCG Target Geology

Strong Position in new IOCG Province

• Core broadens exploration activity with large strategic holding of NT exploration tenements

• 20 mostly contiguous tenements covering 2,000km[2] in a new IOCG province

• Existing mineralisation at surface a strong indicator of prospectivity

• Disparate ownership of tenements has meant that no systematic exploration previously undertaken on tenements for IOCG style targets

• New NT IOCG project compliments Core’s Roxby and Yorke Peninsula SA IOCG strategy

• Exploration to commence in Q4 2012 with Core utilising latest exploration techniques on new tenements

• Recent success by Mithril at nearby Basil Prospect (151Kt Cu - Inferred Resource of 26.5Mt @ 0.57% Cu) and on Illogwa IOCG Project (Austin Prospect, etc) highlights the potential of the area.

Strong Strategy in new IOCG Province

Core will be exposed to the upside from:

• CXO exploration success

• Exploration and mining success in the region as investment activity increases

• Growing industry and market recognition of a new, outcropping IOCG terrain

• Exposure to gold, REE, uranium commodities along with copper focus

• Potential to bring in high-spend JV partners on non-core commodities and tenements

Existing mineralisation at Albarta Project Prospects

Prospect	Copper	Gold	Uranium	**Other **
Oona	2.7% Cu			2.6% Zn
Paradise Well	3.8% Cu
Blueys	2% Cu			320g/t Ag
East Amarata		25 g/t Au
Pattersons		30m @ 0.5g/t Au*
Daicos			19.4% U	22.3% REE
Yambla			13.8% U
Blueys Folley				7% REE
Mordor				2m@1.1g/t Pt+Pd+Au*

Significant surface rock chip sampling and drill intercepts (*) from prospects on Core’s Albarta Project, N.T. Sourced from NTGS and company exploration reports.

Yerelina Project - Silver Lead Zinc

Historic Target	Silver	Lead	Zinc	Pb+Zn
Great Gladstone	203.0 g/t	5.0%	2.3%	7.30%
Emily	12.1 g/t	0.9%	12.4%	13.34%
Big Hill	5.9 g/t	1.7%	0.6%	2.35%

Summary of best results of reconnaissance sampling of 3 historic mine workings, EL 5015.

CXU Base Metal Discovery

• High silver/lead/zinc discovered along strike from old workings

CXO

• Recently granted Yerelina tenement (EL 5015) adjacent to Core’s Fitton Project

Base

Metal

Find

• Large tenement area (approx 1,000 km[2] )

• Multiple targets on potentially huge scale

• Cauldron (CXU) also making silver/lead/zinc discoveries nearby

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Yerelina Project: Silver & Lead/Zinc

• Kilometre scale - repeated set of highly mineralised faults/targets

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Yorke Peninsula Project - Copper

• Covers 243km[2] on the highly prospective Yorke Peninsula (YP) in SA

• YP Project in analogous geological setting adjacent to Rex Minerals’ (RXM) Hillside tenements

• Core encouraged by Rex’s positive PreFeasibility Study released earlier this month

• Also by $8m JV announced last week by Sandfire (SFR) on the northern YP

• Located within Olympic IOCG province (e.g. Olympic Dam, Prominent Hill, Carrapateena, Hillside)

• Core’s first diamond drill program in 2012 has hit low levels of copper mineralisation associated with IOCG-style mineralisation

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Core’s Yorke Peninsula Project Similarities to Hillside

• Same host geology

• Same age structural and alteration systems

• Large-scale structural setting

• Similar scale magnetic and gravity targets

• IOCG style alteration

• Vein and shear hosted copper mineralisation

• Low levels of copper mineralisation identified in the early stages of drilling

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Roxby Downs Project, S.A. - IOCGU

• Two tenements covering over 400km[2 ] in the core of the Olympic Dam / Carrapateena IOCGU Zone

• Project located 40km south of Olympic Dam and within 10km of BHPB’s Wirrda Well and other IOCGU prospects

• A number of drill targets with strong geophysical features have been defined

• Drill targets on the highly prospective northern section of the Roxby Downs tenement cover part of the same gravity feature as BHPB’s Acropolis and Olympic Dam

• Copper sulphide bearing breccias have been drilled within 3km of one of the drill targets on the southern tenement.

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Forward Exploration Program

Project Q4 2012 Q1 2013 Q2 2013	Project Q4 2012 Q1 2013 Q2 2013	Project Q4 2012 Q1 2013 Q2 2013	Project Q4 2012 Q1 2013 Q2 2013
Fitton, S.A.
Fitton	RC Drilling		Drilling*
Yerelina	Sampling/Mapping	Geophysics/Drilling*
Albarta, N.T
	Sampling/Mapping	Sampling/Mapping	Sampling/Mapping
		Geophysics	Geophysics
			Drilling*

Summary

1. Core’s shareholders are exposed to the immediate upside from current drilling program on Fitton Project in S.A. where Core has previously discovered high grade copper and uranium (+/- Au, Ag) in outcrop

2. Core’s new Albarta Project takes strong position in new Australian IOCG province in the NT :

3. Core has rights to 20 tenements covering close to 2,000km[2] in a new IOCG terrain

4. Multiple occurrences mineralisation at surface a strong indicator of prospectivity

5. Core to implement ground-breaking IOCG exploration strategy on Albarta Project

6. A new silver and basemetal system grading up to up to 203g/t Ag and 13% Pb+Zn in sampling has been discovered on new Yerelina Project (adjacent to Fitton)

7. Copper mineralisation identified in first diamond drill program on the Yorke Peninsula Project , S.A.

8. Options to introduce senior partner on Roxby South Project near BHP’s Olympic Dam, S.A.

Upside leveraged to exploration success

CXO : Corporate Summary

Capital Structure

• Shares on issue 41.5M • Options 8.75M • Share Price ~$0.09c • Market Cap (undiluted) ~$3.7M • Cash (30 Sep 2012) $1.9M

Board and Management

Stephen Biggins Managing Director MBA, BSc (Hons) Geol, MAusIMM (ex SAU, & IVR(SNU)) Greg English Non-Executive Chairman BE (Hons) Mining, LLB (AXE, ex-EXR(GRL)) Michael Schwarz Exploration Director BSc (Hons) Geology, AIG (ex MOX, MEU)

The information in this report has been compiled by Stephen Biggins (BSc(Hons)Geol, MBA) as Managing Director of Core Exploration Ltd and who is a member of the Australasian Institute of Mining and Metallurgy and is bound by and follows the Institute’s codes and recommended practices. As a Competent Person, he has a minimum of 5 years relevant experience in the style of mineralisation and types of activities being reported and has given written consent to the above report in the form and context in which it appears.