CORE LITHIUM LTD — Capital/Financing Update 2013

Aug 28, 2013

ASX ANNOUNCEMENT

ASX : CXO

29[th] August 2013

All NT Tenements Granted

• 2

• • Core’s Albarta Project in the NT now covers over 2,000km fully granted tenure in Australia’s newest copper and IOCG exploration hotspot.

• Albarta hosts multiple occurrences of high-grade copper (+ silver) mineralisation indicating strong prospectivity and quality drill targets

• Up to 10% copper and 2,200 g/t silver at Blueys Prospect

• Up to 14% copper and 72g/t gold at Copper King mineral field

• Up to 34% copper at Virginia Prospect

• 19,552ppb silver in soils at new Inkheart Prospect

• 1% copper of 2km x 2km area at Paradise Well Prospect

• Large scale copper nickel PGE target at Mordor Project

• Core’s ground breaking exploration is underway and delivering exceptional results and high-quality drill-ready targets Q4 2013

Core Exploration Ltd (ASX:CXO) is pleased to announce that the Company’s final Exploration Licence application has been granted within the Albarta Project, NT. Core’s 100%-owned EL 29689, which has now been granted, includes the large-scale Copper King mineral field and recently announced high-grade (up to 34% Cu) copper results at Virginia Prospect.

Core’s Albarta project now covers 2,000km[2] of fully granted tenure over the newlyrecognised, highly prospective IOCG Aileron Province, 100km NE of Alice Springs in the NT. Core’s tenements include a number of significant copper (+ silver) mineral occurrences. The Company believes that the existing evidence of mineralisation and recently confirmed IOCG prospectivity by Geoscience Australia, NTGS and other Companies verifies the strategy that Core has pursued to take an early position in an area that is becoming Australia’s new copper and IOCG exploration hot-spot.

The following presentation summarises and clarifies the recent excellent results from the growing number of exciting prospects and quality drill targets Core is building in the 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

For further information please contact:

Stephen Biggins John Field Managing Director Field Public Relations Core Exploration Ltd 08 7324 2987 08 8234 9555 info@coreexploration.com.au john@fieldpr.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

AUSTRALIA’S NEW IOCG AND COPPER EXPLORATION

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August 2013

20 tenements covering over 2,000km[2]

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Darwin Albarta Project, NT

Core’s Albarta Project in the NT has rights to 20 tenements covering over 2,000km[2]

• Multiple occurrences of copper mineralisation indicates strong prospectivity

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NORTHERN TERRITORY
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• Ground breaking exploration for large-scale copper IOCG deposits underway to be drill-ready Q4 2013

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Kidman (KDR)
Home of Bullion Kentor (KGL)
Jervios
Core (CXO) Project
Albarta Project
Alice Springs
Mithril (MTH)
East Arunta
Project
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Strong prospectivity

• 10% copper and 2,200 g/t silver at Blueys Prospect

• Up to 14% copper and 72g/t gold at Copper King

• Up to 34% copper at Virginia Prospect

• 19,552ppb silver in soils at new Inkheart Prospect

• >1% copper of 2km x 2km area at Paradise Well Prospect • Large scale copper nickel PGE target at Mordor Project Results pending from infill and follow-up at Blueys and Inkheart

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Exploration underway
400,000 mE 500,000 mE
Copper Queen (14% Cu & 72g/t Au) in rock chips
Virginia (34.0% Cu) in rock chip
Copper King (14% Cu & 38g/t Au) in rock chips Exploration commenced
Daicos (19.37% U, 26.52% Nb)
in rock chips
Exploration underway
AILERON PROVINCE(Early Proterozoic) Q3/Q4 2013
IRINDINA PROVINCE
(Late Proterozoic)
Yambla (U)
Paradise Well (3.8% Cu) in rock c hips
Star Creek East (Cu/Pb)
Mordor (Cu, Au, PGE)
Star Creek (Au, Cu)
400,000 mN
East Amarata (25g/t Au) in rock chips
Alice Springs Pattersons (Au) Blueys Folley (7% REE) in rock chips
WARUMPI White Dam South (Cu-Zn) Amarata (Au)
PROVINCE
Blueys (10% Cu, 2,200g/t Ag) in rock chips
AMADEUS BASIN
(Late Proterozoic)
Alice Springs Albarta Project Major road Core’s Albarta Project
Minor road granted Exploration
Railway Licences (EL)
600 KM Core Prospect 40 kilometres EROMANGA
CE Illogwa 12 BASIN
Plenty
Highway
Adelaide-Darwin railway
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Blueys Prospect

2.2kg/t silver and 10% copper at surface

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Blueys Prospect

• Very high grades of 2.2kg/t (2,200g/t) silver and 10% copper at surface

• Peak value of 25,250ppb silver is well above 100ppb commonly regarded as anomalous

• New Inkheart Prospect characterised by extremely high silver in soils

• Further high grade rock chip results strengthen Core’s belief that Blueys is under explored for silver and copper mineralisation

Spectacular silver soil anomalies 7

Blueys Prospect	Blueys Prospect	Blueys Prospect	Blueys Prospect	Blueys Prospect	Blueys Prospect	Blueys Prospect
	Sample	Ag ppm	Cu (%)	Au g/t	Pb (%)
	BT2	>1500	4.43	0.121	0.70
	EAR13006A	1800	9.87	0.153	2.96
~~8~~ EAR13006B(repeat) EAR13006C(repeat)		2200 700	5.74 1.05	0.108 0.073	1.39 0.20

Blueys Prospect

• Core’s Blueys Prospect has a footprint of 500m x 250m assaying over 1,000ppb Ag . Its peak silver in soil value is 25,250ppb Ag

• Core’s Inkheart Prospect has a footprint of 1,400m x 300m area assaying over 1,000ppb Ag . Peak silver in soil of 19,552ppb Ag

• Investigator Resources Ltd (ASX: IVR) flagship Paris Prospect in SA has a footprint of 1200 m x 300m over 100 ppb with a footprint of about 200m over 500 ppb Ag and a peak silver in soil value of 1,629ppb . This has led to high grade silver results in drilling and - market cap $65-70M

• Follow-up rock-chip and soils surveys currently underway

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Copper King Large copper mineral field and Up to 14% copper 72g/t gold at surface

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Copper King Mineral Field

• Large copper mineral field recognised in area of new 100% owned tenement

• 5km long copper soil anomaly

• Rock chips assays up to 14.3% copper and 72.3 g/t gold

• Geophysics not used in previous targeting

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Assay results

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Prospect Type of No. of Max Gold Max Gold Max Copper Max Copper
Sample Samples (ppb) (g/t) (ppm) (%)
Copper King Rockchip 54 38,510 38.5 140,000 14.0
Copper Queen Rockchip 111 72,300 72.3 143,000 14.3
Copper Queen West Rockchip 44 1,425 1.4 37,700 3.8
Copper Site / MAS1 Rockchip 40 182 0.2 134,000 13.4
Skippy Tail Rockchip 11 320 0.3 26,600 2.7
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Virginia Prospect Stratiform kilometre scale copper target grading 1%-5% Cu at surface Rock chips assays up to 34% Cu

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Rock chip sampling

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Sample Copper
(%)
HRCRC0939 5.13
HRCRC0943 5.28
HRCRC0948 34.00
HRCRC0949 7.73
HRCRC0952 5.24
HRCRC0954 13.90
HRCRC0956 4.16
HRCRC0957 4.78
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• Strong copper in soils along strike

• Geophysics not used in previous targeting

• No previous drilling

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Paradise Well Prospect

• 1.6% copper detected at surface by Core at new Paradise Well prospect

• Copper now identified at surface over a 2km x 2km area (inc. PW South)

• Kilometre-scale coincident Cu/Ag soil anomalies

• Magnetite association with copper may have IOCG affinities

• Further soil sampling and mapping underway

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Paradise Well Prospect

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Sample Rock type Cu % Cu ppm Ag g/t Pb ppm Zn ppm
PW001 Schist 1.6 16000 0.36 51.4 144
PW002 Amphibolite 1.0 9750 3.22 20.7 114
PW003 Amphibolite 0.7 7390 2.15 17.5 90
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Mordor Project – Cu/Ni/PGE

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• Mordor Project hosts copper, nickel & PGE “reef” style mineralisation e.g. Merensky Reef, Bushveld (S.Afr)

• Mordor Complex is a large layered mafic-ultramafic intrusion (5km diameter by 6km deep)

• Also prospective for contact-type Cu-Ni-PGE deposits

• Multiple “walk up” drill targets:

• » Orodruin Prospect: strong copper, nickel and PGE soil anomaly

• » Braveheart Prospect: copper and nickel mineralisation at surface

• Exploration by Rio Tinto for two decades provides a large data package for re-interpretation

• Mordor 100% owned by Core and may suit Joint Venture

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IOCG Prospectivity
400,000 mE 500,000 mE
Copper Queen (14% Cu & 72g/t Au) in rock chips
Virginia (34.0% Cu) in rock chip • Copper prospectivity
Copper King (14% Cu & 38g/t Au) in rock chips of the region well
Daicos (19.37% U, 26.52% Nb) documented by NTGS
in rock chips
• Mithril (MTH) has
confirmed potential to
Yambla (U)
the east and west of
Paradise Well (3.8% Cu) in rock c hips
Core’s tenements
Star Creek East (Cu/Pb)
Mordor (Cu, Au, PGE)
Star Creek (Au, Cu) • 2012 assessment by
400,000 mN
Geoscience Australia
East Amarata (25g/t Au) in rock chips
Alice Springs Pattersons (Au) Blueys Folley (7% REE) in rock chips confirmed high IOCG
White Dam South (Cu-Zn) Amarata (Au) prospectivity
Blueys (10% Cu, 2,200g/t Ag) in rock chips
• Core’s internal
assessment verifies
Alice Springs Albarta Project Major road Core’s Albarta Project
Minor road granted Exploration
IOCG potential
Railway Licences (EL)
600 KM Core Prospect 40 kilometres
Plenty
Highway
Adelaide-Darwin railway
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CE Illogwa 14

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Summary

Core’s Albarta Project is a valuable position in new Australian copper IOCG exploration hotspot in the NT

• Core has rights to 20 tenements covering over 2,000km[2] in a new IOCG terrain

• Multiple occurrences of copper 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

• GA’s mineral potential modelling in 2012 for uranium-rich IOCG mineral systems identified the most significant and prospective area is covered by Core’s large tenement package

• Ground breaking exploration for large-scale copper IOCG deposits is underway

• Core’s first exploration work at Albarta is delivering exceptional results and building a list of quality drill-ready targets Q4 2013 subject to approvals

• Results currently pending from Blueys and Inkheart

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Level 2, 143 Hutt Street Adelaide SA 5000 PO Box 7298, Hutt Street Adelaide SA 5000 Telephone: 08 7324 2987 Facsimile: 08 8312 2002 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.

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 20 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.