CORE LITHIUM LTD — Capital/Financing Update 2013

Oct 20, 2013

ASX ANNOUNCEMENT

ASX : CXO

21[st] October 2013

New Lead and Copper soil results strengthen Inkheart, NT

HIGHLIGHTS

• Lead and copper soil anomalism at Inkheart comparable to Blueys

• Core’s surface rock chips at Blueys assay up to:

• 4.1 kilograms per tonne silver (4,065 g/t)

• 5.5% copper

• 25% lead

• Results increase potential for similar mineralisation at Inkheart

Core Exploration Ltd’s (ASX: CXO) new soil results have confirmed a strong correlation between lead and copper in soils and the previously released high silver anomalism that characterise both the Blueys and Inkheart Prospects within the Company’s Albarta Project in the Northern Territory.

The positive relationship of high silver, copper and lead at these prospects is supported by mineralised rock chip samples taken by Core at Blueys. Surface rock chip samples from Blueys graded up to 4,065 g/t silver (Ag), 5.5% copper (Cu) and 25% lead (Pb) (refer ASX announcement 10/09/2013).

Recent mapping and rock chip sampling at Blueys has identified a broad zone of pervasive stock-work veining associated with malachite and azurite (copper) and galena (lead/silver) minerals at surface. It appears that the galena at Blueys is argentiferous (silver bearing).

The level of silver, copper and lead soil anomalism within soils at Inkheart (Figures 1 & 2) is directly comparable to Blueys, which increases the probability of similar style mineralisation (as found at Blueys) but on a potentially larger scale being discovered by Core’s first drilling program being planned at Inkheart and Blueys.

The Blueys and Inkheart Prospects are within Core’s Albarta Project that covers over 2,000km[2] of the newly recognised, highly prospective IOCG Aileron Province, 100km NE of Alice Springs in the NT. Core’s tenements include a number of significant copper (+ silver) occurrences (Figure 3).

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E info@coreexploration.com.au www.coreexploration.com.au

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Figure 1. Copper in soils overlain on silver in soils image, Blueys and Inkheart Prospects, NT.

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Figure 2. Lead in soils overlain on silver in soils image, Blueys and Inkheart Prospects, NT.

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E info@coreexploration.com.au www.coreexploration.com.au

Next Steps

Results are pending from Core’s recent surface rock chip sampling focussed on identifying the source of the high silver in soil samples at the newly discovered Inkheart Prospect and previously unrecognised western-zone at Blueys.

Core is currently analysing the previous airborne electromagnetic (AEM), magnetics and radiometric surveys over Blueys and Inkheart. The results of this geophysical analysis are expected in late October and an Induced Polarisation (IP) survey is scheduled to commence over potential drill targets at Blueys and Inkheart shortly after.

Core has also commenced land access procedures to enable the required approvals for drilling at Blueys and Inkheart.

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Figure 3. Core’s Albarta Project prospects and tenements overlain on regional geology, NT

For further information please contact:

Stephen Biggins Managing Director Core Exploration Ltd 08 7324 2987 info@coreexploration.com.au

John Field Field Public Relations 08 8234 9555 john@fieldpr.com.au

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E info@coreexploration.com.au www.coreexploration.com.au

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Stephen Biggins (BSc(Hons)Geol, MBA) as Managing Director of Core Exploration Ltd 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. He has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Biggins consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E info@coreexploration.com.au www.coreexploration.com.au