CORE LITHIUM LTD — Capital/Financing Update 2013

Aug 11, 2013

ASX ANNOUNCEMENT

ASX : CXO

12[th] August 2013

Undrilled kilometre scale copper target grading 1%-5% Cu at surface Virginia Copper Prospect, NT

HIGHLIGHTS

• Rock-chip sampling assays up to 34.0% copper at surface

• Stratiform copper horizon over 1km length

• Strong copper in soil anomaly along strike in both directions

• No previous geophysics or drilling

Core Exploration Ltd (ASX:CXO) has identified an undrilled copper target over 1km long with assay up to 34% copper at surface on its wholly owned exploration licence application, EL 29689 covering 310km[2 ] within the Company’s promising Albarta project, north east of Alice Springs in the Northern Territory.

Rock chip sampling of the malachite stained rocks by previous explorers returned values typically in the 1-5% Cu range, but up to 34% Cu, within a stratiform copper horizon identified over 1 km strike at Core’s Virginia Prospect (Tables 1, 2 & Figure 1). Some of the better results include:

Sample	Type	East	North	Cu %
HRCRC0939	Rock Chip	476609	7444368	5.13
HRCRC0943	Rock Chip	476640	7444434	5.28
HRCRC0948	Rock Chip	476915	7444602	34.00
HRCRC0949	Rock Chip	476915	7444602	7.73
HRCRC0952	Rock Chip	477159	7444560	5.24
HRCRC0954	Rock Chip	476540	7444444	13.90
HRCRC0956	Rock Chip	476548	7444446	4.16
HRCRC0957	Rock Chip	476548	7444453	4.78

Table 1. Summary of higher grade rock chip copper assays along 1 kilometre strike length reported by previous exploration work at Virginia Prospect EL 29689, Albarta Project NT. The presence of this mapped surface mineralisation and alteration may or may not extend at depth and this can only be confirmed by drilling.

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 Virginia copper prospect occurs in a distinctive garnet gneiss band within mafic gneiss.

The previous soil sampling program was carried out on five lines on 600 x 50 metre spacing coincident with a zone of alteration interpreted from the Landsat images. A strong copper in soil anomaly was returned along strike from the main Virginia outcrop in both directions.

Despite the exceptional results, no drilling or geophysical surveys have been undertaken on the zone.

Core’s planned soil sampling should identify any additional outcropping zones of mineralisation. The company also intends to undertake detailed geophysics over known areas of mineralisation to identify potentially larger mineral bodies at depth and determine drill targets.

The Company will be in a position to commence field exploration on Virginia and in the previously announced Copper King area once the tenement is granted later this month (Figure 2).

==> picture [456 x 284] intentionally omitted <==

Figure 1.Copper rock chips and soils at the Virginia Prospect

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

Albarta Project Background

Core’s Albarta project 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, gold, uranium, REE and PGE) mineral occurrences. The Company believes that the existing evidence of mineralisation and recently confirmed IOCG prospectivity by Geoscience Australia verifies the strategy that Core has pursued to take an early position in an area it believes will be Australia’s new copper IOCG exploration hot-spot.

==> picture [452 x 288] intentionally omitted <==

Figure 2. Core’s Albarta Project tenements overlain on regional geology, NT.

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 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.

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

	SampleTypeEastNorthCu %
	HRCRC0562Rock Chip47675774445252.92
	HRCRC0563Rock Chip47675474445251.86
	HRCRC0564Rock Chip47675474445280.37
	HRCRC0565Rock Chip47676074445260.30
	HRCRC0935Rock Chip47663774444290.62
	HRCRC0936Rock Chip47664374444321.04
	HRCRC0937Rock Chip47658274443100.65
	HRCRC0938Rock Chip47659074443220.42
	HRCRC0939Rock Chip47660974443685.13
	HRCRC0940Rock Chip47662774444100.78
	HRCRC0941Rock Chip47663374444242.00
	HRCRC0942Rock Chip47664074444342.16
	HRCRC0943Rock Chip47664074444345.28
	HRCRC0944Rock Chip47666774444831.15
	HRCRC0945Rock Chip47666874444832.33
	HRCRC0946Rock Chip47679174445401.89
	HRCRC0947Rock Chip47680774445323.36
	HRCRC0948Rock Chip476915744460234.00
	HRCRC0949Rock Chip47691574446027.73
	HRCRC0950Rock Chip47707174445491.48
	HRCRC0951Rock Chip47708674445571.92
	HRCRC0952Rock Chip47715974445605.24
	HRCRC0953Rock Chip47742474446280.72
	HRCRC0954Rock Chip476540744444413.90
	HRCRC0955Rock Chip47654574444482.91
	HRCRC0956Rock Chip47654874444464.16
	HRCRC0957Rock Chip47654874444534.78
	HRCRC0958Rock Chip47653774444612.75
	HRCRC0959Rock Chip47654574444431.34
	HRCRC0960Rock Chip47654174444412.11
	HRCRC0961Rock Chip47654074444458.87
	HRCRC0964Rock Chip47648274443610.63
	HRCRC0965Rock Chip47640874442870.24
	HRCRC0966Rock Chip47637374443080.94
	HRCRC0967Rock Chip47614974443712.53

Table 2. All rock chip copper assays along 1 kilometre strike length reported by previous exploration work at Virginia Prospect EL 29689, Albarta Project NT. The presence of this mapped surface mineralisation and alteration may or may not extend at depth and this can only be confirmed by drilling. Data sourced from historic company reports.

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