CORE LITHIUM LTD — Capital/Financing Update 2011

Feb 9, 2011

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Companies Announcement Office Australian Securities Exchange Limited 10[th] Floor, 20 Bond Street SYDNEY NSW 2000

1 February 2011

UPDATED PRO FORMA STATEMENT OF FINANCIAL POSITION BASED UPON ACTUAL FUNDS RAISED

Core Exploration Ltd (the Company ), provides the following updated unaudited Statement of Financial Position as at 10 November 2010.

CURRENT ASSETS Cash & cash equivalents Trade & other receivables Other assets TOTAL CURRENT ASSETS NON CURRENT ASSETS Exploration expenditure TOTAL NON CURRENT ASSETS TOTAL ASSETS CURRENT LIABILITIES Trade & other payables TOTAL CURRENT LIABILITIES NON CURRENT LIABILITIES Deferred tax liability TOTAL NON CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS SHAREHOLDERS EQUITY Issued capital Reserves Retained earnings TOTAL SHAREHOLDERS EQUITY	Reviewed 10 November 2010 $ 513,395 4,000 10,315 527,710 - - 527,710 32,835 32,835 - - 32,835 494,875 504,000 - (9,125) 494,875	Un-audited Pro Forma (Maximum Subscription 10 November 2010 $ 5,014,110 4,000 -
		5,018,110
		3,195,124 3,195,124
		8,213,324
		32,835
		32,835
		957,524
		957,524
		990,359
		7,222,875
		7,154,518 394,350 (325,993)
		7,222,875

Yours faithfully,

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Josh Ward Company Secretary Core Exploration Ltd

A Level 15, 45 Pirie Street, Adelaide SA 5000 | T (08) 8210 1254 | F (08) 8210 1234 | E info@coreexploration.com.au www.coreexploration.com.au