CORE LITHIUM LTD — Interim / Quarterly Report 2012

Jul 16, 2012

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17[th] July 2012

Centralised Company Announcements Platform

Australian Stock Exchange 10[th] floor, 20 Bond Street Sydney NSW 2000

QUARTERLY ACTIVITIES AND CASHFLOW REPORT 30 JUNE 2012

Please find attached the Quarterly Activities and Appendix 5B Quarterly Cash Flow Reports for the quarter ended 30 June 2012.

Yours faithfully

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Stephen Biggins Managing Director

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

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ASX Release

17 July 2012

QUARTERLY ACTIVITIES REPORT FOR THREE MONTHS ENDED 30 JUNE 2012

CORE EXPLORATION LTD

Level 2 143 Hutt Street Adelaide SA 5000

CONTACT:

Stephen Biggins Managing Director

Highlights

• High grade uranium and copper in outcrop at surface at the Scott Lee Prospect, Fitton Project

• Multiple zones of copper mineralisation identified in Core’s first diamond drilling program confirm the potential for largescale system on Yorke Peninsula Project

Jarek Kopias

Company Secretary jkopias@coreexploration.com.au

• Roxby Downs Exploration Licence granted 30km south of Olympic Dam

E-MAIL:

info@coreexploration.com.au

Overview

WEBSITE:

www.coreexploration.com.au

The Board of Core Exploration Ltd (“Core”) is pleased to present its quarterly activities report for the period ended 30 June 2012 .

Directors:

Greg English Non-Executive Chairman

Stephen Biggins Managing Director

Michael Schwarz

Executive Director Exploration

During the reporting period, Core identified very high levels of uranium and copper in outcrop on the Fitton Project located 25km north of the Beverley uranium mine in northern South Australia.

Results from Core’s 2,000m diamond drill program on the Yorke Peninsula has confirmed copper mineralisation and alteration typical of other IOCG style deposits in South Australia.

Issued Capital:

41,500,000 Ordinary Shares 8,675,000 Unlisted Options

ASX Code: CXO

Core’s newly granted Roxby Downs (EL 4906) and previously granted tenements cover 400km[2] near BHP Billiton’s Olympic Dam mine.

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

Projects

FITTON PROJECT (SA) – ACTIVITY DURING THE QUARTER

High grade copper and uranium sampled in surface outcrop at the Scott Lee Prospect

Core has identified very high levels of uranium and copper in outcrop on the Fitton Project located 25km north of the Beverley uranium mine in northern South Australia. The zone of shearing and mineralisation has been mapped for over 2,000m at surface on the newly named Scott Lee prospect.

During the quarter, Core Exploration undertook further detailed mapping and rock chip sampling within the vicinity of the Scott Lee Prospect. The main aim of the mapping program was to define the extent of the outcropping copper and uranium mineralisation and collect further rock chip samples to determine if higher grade mineralisation was evident at surface.

A secondary aim of the field work was to determine if mineralisation had distinctive properties such as high magnetic susceptibility that could be used to identify further, buried occurrences.

An association of magnetite with mineralisation was noted during the mapping, suggesting that the mineralisation should produce a magnetic response. To this end, the Company commissioned a ground magnetic survey across the shear zone in an attempt to map the subsurface extent of mineralisation and define targets for drilling.

Surface outcrop sampling results

A sample of chloritised schist within a shear zone contained 2,858 ppm uranium (3,370ppm U3O8 or 0.34% U3O8), which is a four-fold increase in the previous highest uranium value identified. This high uranium sample is located 200m from a sample with recently confirmed assay grading 7.59% copper (Figure 1).

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Figure 1. Photo of malachite rich (green copper carbonate secondary mineral) sample that returned a 75,900 ppm copper value (7.59% Cu) from Scott Lee prospect.

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

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In addition, a number of new samples contained highly anomalous uranium above 100ppm for a strike length of over 800m and other samples from the same shear zone graded above 1% copper over a strike length of 150m (Table 1, Figures 3, 4 & 5).

High levels of uranium and copper in the new and previous rock chip samples correlate well with results from previous soil surveys. This relationship between anomalism in the soil data and rock chip samples provides scope for further increases in the footprint of mineralisation through future sampling (Figure 2).

Core has identified quartz-magnetite veining associated with the uranium and copper mineralisation. Recently completed ground magnetic surveys have identified a strong magnetic response from the shear zone containing mineralisation. A number of other similar magnetic anomalies may indicate further occurrences of similar mineralisation.

Previously unidentified gold anomalism (0.91 g/t gold) in a rock chip sample of quartz rich gossan, 2.2km southwest of the high uranium and copper samples, is also of interest and worthy of further exploration. Samples with elevated gold of (up to 0.37 g/t) are associated with high uranium and copper at the Scott Lee prospect (Table 1).

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Figure 2. Mapping the outcropping mineralised shear zone on EL4569

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

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Background

The 100%-owned Fitton Project covers 106km² adjacent to the Mt Painter Inlier. The region is well known for its multi-metallic breccia complexes and large-scale secondary uranium occurrences at Beverley and Beverly Four-Mile (Figure 6).

It is interpreted that a series of multi-directional zones of fracturing in the host granite have been intruded by a later mafic dyke which have been the focus of shearing and uranium mineralization.

The northern part of the Fitton project area covers areas of Radium Creek Metamorphics and other prospective host rocks within the Mt Painter Inlier. The central part of the tenement contains uraniferous megacrystic granites with chloritised shear zones that are interpreted to represent original mafic dykes. These shear zones have been intensely altered that appear to have focused a mineralizing fluid rich in copper and uranium with minor gold also identified in the latest sampling.

Numerous smaller shears occur within a larger shear zone and vary individually in width from a metre to over 25 metres. The levels of uranium and copper, based on sampling to date from these shear zones, vary substantially. The presence of this mapped surface mineralisation and alteration may or may not extend at depth and this can only be confirmed by drilling which is planned in the coming months.

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Figure 3. In situ sample from shear zone at the Scott Lee prospect. Sample assayed 3,370 ppm U3O8 (0.34% U3O8). The s pectrometer value in photo (counts per second) is used as an indicator of uranium

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

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Name	Zone	Easting	Northing	Sample	**Cuppm **	**Uppm **	U3O8ppm	**Aug/t **
MP0009	54J	365712	6686800	Rock chip	155	51.29	60.48	X
MP0010	54J	365699	6686831	Rock chip	103	624.43	736.33	X
MP0011	54J	365552	6686859	Rock chip	16	83.59	98.57	X
MP0011	54J	365455	6686935	Rock chip	105,184	121.37	143.12	0.12
MP00451	54J	366351	6688378	Rock chip	107	2.39	2.82	0.01
MP00459	54J	365842	6687056	Rock chip	16	120.99	142.67	X
MP00467	54J	365306	6686951	Rock chip	200	157.41	185.62	X
MP00473	54J	365336	6686984	Rock chip	33	132.25	155.95	X
MP00474	54J	365442	6686928	Rock chip	963	35.31	41.64	X
MP00476	54J	365458	6686931	Rock chip	75,900	77.44	91.32	0.06
MP00477	54J	365455	6686938	Rock chip	143	5.87	6.92	X
MP00479	54J	365497	6686933	Rock chip	148	3.3	3.89	X
MP00480	54J	365566	6686926	Rock chip	21,718	426.96	503.47	0.08
MP00481	54J	365556	6686927	Rock chip	185	15.01	17.70	X
MP00482	54J	365657	6686878	Rock chip	X	2,857.83	3,369.95	X
MP00486	54J	366737	6686592	Rock chip	234	2.2	2.59	X
MP00492	54J	365857	6686686	Rock chip	571	239.7	282.65	X
MP00493	54J	363551	6685728	Rock chip	680	10.55	12.44	0.91
MP00496	54J	365105	6686983	Rock chip	219	499.34	588.82	0.37
MP00497	54J	365214	6686964	Rock chip	64	62.43	73.62	X
MP00498	54J	365312	6686960	Rock chip	111	268.33	316.41	X
MP00499	54J	365406	6686937	Rock chip	160	37.06	43.70	X
MP00500	54J	365450	6686924	Rock chip	19,862	86.5	102.00	0.06
MP00502	54J	365555	6686934	Rock chip	19,257	217.06	255.96	0.02
MP00503	54J	365500	6686931	Rock chip	7933	13.71	16.17	X
MP00512	54J	365619	6686903	Rock chip	103	9.93	11.71	X

Table 1: Table of all rock chips samples collected by Core Exploration within EL 4569 with anomalous copper, uranium and/or gold values.

When samples contain either Copper > 100ppm or Uranium > 50ppm or 100ppb/gold (From a total sample set of 69 samples). Au: FA25//AA Lead Collection Fire Assay: U: 4A/MS 4 Acid Digest Mass Spectrometry: Cu: 4A/OE 4 Acid Digest Inductively Coupled Plasma Opitical Emission Spectrometry. Of the 69 rock samples collected to date the range of values for copper vary from below detection (1ppm) to 10.5%, uranium varies from 0.4 ppm to 2858 ppm and gold varies from below detection (0.01 ppm to 0.91ppm)

A Level 2, 143 Hutt Street, 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 4. Map of mineralised samples from the Scott Lee prospect overlain on uranium anomalism in soils image, EL 4569, Fitton.

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Figure 5. Inset map of mineralised samples from the Scott Lee prospect on EL 4569, Fitton Project.

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

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Scott Lee Prospect
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Figure 6. Location of Scott Lee Prospect and Fitton Project (EL 4569) and uranium occurrences in the region, northern South Australia.

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

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YORKE PENINSULA (SA) – ACTIVITY DURING THE QUARTER

Drill assays results confirm potential for large-scale copper system

Results of Core’s 2,000m maiden diamond drill program on the Company’s Yorke Peninsula project west of Adelaide have identified a number of zones of low levels of copper mineralisation (Figure 7).

Importantly, the mineralisation is associated with alteration typical of other IOCG (Iron Oxide Copper Gold) style deposits in South Australia increasing the Company’s level of confidence in the IOCG potential of the Yorke Peninsula Project.

Core’s Yorke Peninsula project is located on the southern portion of the Olympic IOCG Province which hosts Rex Minerals’ Hillside Project, BHP Billiton’s Olympic Dam mine and OZ Mineral’s Prominent Hill mine and recently acquired Carrapateena Project (Figure 10).

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Figure 7. Albite dominant (”Red-rock”) alteration and sulphide veining comprising pyrite and minor chalcopyrite in drill hole WTDD008 (199-200m @ 0.35% Copper).

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Palace Structural Zone and analogies with Hillside geology

The geology hosting the Hillside deposit, currently being explored by Rex Minerals on the tenement adjacent to Core’s holding, has many similar features to those drilled and identified within the Wauraltee Prospect within the Palace Structural Zone and has increased the Company’s level of confidence in the large-scale IOCG potential of the Yorke Peninsula project.

Many of the exploration and geological characteristics that Core has identified on its project are similar to the information on hand during the early stages of exploration and important to the targeting and subsequent discovery of higher grade portions of the Hillside project.

Copper mineralisation within both the Palace Structural Zone and Pine Point Fault Zone appear to be controlled by structures of the same age, both are hosted by similar geology including Hiltaba Suite granites and mafic equivalents and Wallaroo Group Metasediments. Both appear to be related to higher temperature carbonate-amphibole+/-magnetite alteration.

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Figure 8. Palace Structural Zone and Pine Point Fault Zone comparison on magnetic image, Yorke Peninsula region, S.A.

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

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The Palace Structural Zone transects Core’s tenement in a north easterly direction and appears to be the last dominant structural feature within the region. The structure can be traced east across the Yorke Peninsula where it merges with the Pine Point Fault Zone. The two structures appear to be contemporaneous, with the Palace Structural Zone forming a splay off of the more regionally dominant Pine Point Fault Zone (Figure 8).

Core’s regional and subsequent detailed gravity and airborne magnetic surveys during 2011 defined a large-scale set of magnetic and gravity drill targets identified within the 12km long, 2- 4km wide section of the Palace Structural Zone. These semi coincident magnetic and gravity anomalies are strong indicator of magnetite/hematite iron oxide alteration systems and potentially IOCG style mineralisation.

The recently identified Palace Structural Zone, had not been recognised prior to Core’s surveys in 2011 and the discovery of Hillside, and as such, had not received any drilling into basement. Core’s drill program, which is also the first ever diamond drilling on this large 200km[2] area of the Yorke Peninsula, was designed to establish whether the key geological components to host IOCG style copper deposits existed, which it has done successfully (Figure 9).

However, not only did Core’s drilling identify similar host geology and IOCG style alteration to Hillside, importantly the assays indicate the system is also carrying copper. This key information confirms the Company’s concept that the area is prospective for large scale IOCG style copper deposits (Table 2).

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Figure 9. Diamond drilling on Yorke Peninsula February 2011

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

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Drillhole	From	(m)	To	(m)	Width (m)	Grade Copper (Cu)
WTDD001		226		228	2	0.23%
including		227		228	1	0.45%
WTDD002		147.8		151	3.2	0.07%
including		147.8		150	2.2	0.10%
WTDD002		159		160	1	0.07%
WTDD002		165		166	1	0.26%
WTDD002		181		185	4	0.06%
WTDD002		201		202	1	0.05%
WTDD002		242		245	3	0.13%
including		242		245	2	0.19%
WTDD002		247		250	3	0.09%
including		249		250	1	0.25%
WTDD006		239		241	2	0.06%
WTDD006		250		255	5	0.05%
including		254		255	1	0.17%
WTDD006		259		263	4	0.05%
WTDD006		269		270	1	0.07%
WTDD006		346		349	3	0.16%
including		347		348	1	0.37%
WTDD007		139		141	2	0.07%
WTDD008		195		196	1	0.07%
WTDD008		197		202	5	0.10%
including		199		200	1	0.36%

Table 2. Significant copper drill intersections, Palace Structural Zone, Yorke Peninsula.

(Assays above 500ppm with 100ppm cut-off. Samples were collected from half NQ drill core. A 40g charge of pulverised sample was digested with Aqua Regia. Analysis was undertaken by ICP-MS/ICP-AES)

A Level 2, 143 Hutt Street, 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 10. Location of Core Exploration’s Yorke Peninsula tenements in South Australia.

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

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ROXBY SOUTH PROJECT (SA) – ACTIVITY DURING THE QUARTER

Roxby Downs Exploration Licence granted 30km south of Olympic Dam in SA

During the reporting period one of the Company’s key Roxby Downs exploration licence applications was granted by the South Australian Government.

The new Roxby Downs (EL 4906) and previously granted Sandy Point (EL 4816) tenements comprise Core’s Roxby South project which covers 400km[2] near BHP Billiton’s Olympic Dam mine in northern South Australia. The two tenements are located approximately 40 kilometres south of the Olympic Dam Cu–Au-U mine and within kilometres of known IOCGU mineralisation at the Wirrda Well, Acropolis and Horse Well prospects.

Core’s Roxby South project is one of the few remaining projects covering the highly prospective geology between BHPB’s Olympic Dam mine and Oz Minerals’ Carrapateena project not currently held in conjunction with a major mining company (Figure 11).

The Company is encouraged by the recent corporate activity within the region that highlights the attractive nature of this highly sought after mining province. The grant of Core’s EL 4906 tenement coincides with an intense period of interest in exploration prospects in the Gawler Craton/Stuart Shelf region, in particular those tenement areas close to the world class Olympic Dam operations.

Core’s geophysical modelling and review of previous exploration has identified high priority drill targets which the Company considers are yet to be adequately defined and drill tested.

Drill targets on the highly prospective northern section of the Roxby Downs EL include targets covering part of the same gravity feature as BHP’s Olympic Dam mine and Acropolis prospect. Copper sulphide bearing breccias have been drilled within 3km of one of the drill targets on the Sandy Point EL tenement.

With the granting of the licence, Core is now in a position to move the Roxby IOCGU exploration project forward.

Core has appointed a corporate advisor to assist in negotiations with parties wishing to enter this region through joint venture or acquisition.

A Level 2, 143 Hutt Street, 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 11. Core Exploration’s Roxby South Project and surrounding tenements based on Core’s review and interpretation of public tenement and JV information.

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

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Corporate

Core Exploration had $2.22 million cash in hand as at 30 June 2012.

The Company issued 100,000 unlisted options to an employee with an exercise price of 11 cents and expiry date of 18 June 2014.

Outlook – September 2012 Quarter

Fitton, SA

Finalise collection and processing of new ground magnetic data over the Scott Lee prospect and the extension to the original survey.

Results of the mapping and completed in June 2012 at Scott Lee and the 0.91 g/t Au rock chip site are expected in late July.

Initial drill program at the Scott Lee prospect and the new gold site planned for September 2012 following the completion of an aboriginal heritage survey and receiving environmental approvals. If the results of the survey are favourable, then the Company intends to commence a reverse circulation drill program of approximately 2000m focusing on the Scott Lee prospect but also testing the new zone of gold anomalism and new areas of surface copper mineralisation.

Yorke Peninsula, S.A.

Land access processes and communications with landholders in preparation for further drilling are also underway.

Planning for the next drill program will include assessment of the new geophysics currently being acquired and will be finalised once the related land access process is completed. Any drilling is unlikely to take place before the end of the current cropping season.

Roxby South, S.A.

With the granting of the licence, Core is now in a position to move the Roxby IOCGU exploration project forward.

Core’s geophysical modelling and review of previous exploration has identified high priority drill targets which the Company considers are yet to be adequately defined and drill tested.

Core has appointed a corporate advisor to assist in negotiations with parties wishing to enter this region through joint venture or acquisition.

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

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ASX Announcements

The Company made the following announcements during the quarter since the previous quarterly report and to the date of this report:

Date	Announcement
30 Apr 2012	Quarterly Activities Report and Appendix 5B
6 Jun 2012	Final drill results from Yorke Peninsula project
8 Jun 2012	High grade uranium and copper in outcrop at Fitton Project
14 Jun 2012	CXO Investor Presentation 14 June 2012
18 Jun 2012	Appendix 5B – unlisted option issue
26 Jun 2012	Roxby Downs Exploration Licence Granted

The information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Stephen Biggins who is a member of the Australasian Institute of Mining and Metallurgy. Mr Biggins is the Managing Director of Core Exploration Ltd. Mr Biggins has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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 this ASX Release of the matters based on his information in the form and context in which it appears.

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

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

Name of entity Core Exploration Ltd ABN Quarter ended (“current quarter”) 80 146 287 809 30 June 2012

Consolidated statement of cash flows

Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for: (a) exploration and evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) - Prospectus costs Net Operating Cash Flows	Current Quarter (3 Months) $A’000	Year to date (12 Months) $A’000
	- (761) - - (158) - 38 - - - -	- (1,499) - - (799) - 257 - - - -
	(881)	(2,041)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other (provide details if material) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	- - (1) - - - - - - -	- - (100) - - - - - - -
	(1)	(100)
	(882)	(2,141)

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1.13 Total operating and investing cash flows (broughtforward)	(882)	(2,141)
Cash flows related to financing activities 1.14 Proceeds from issues of shares 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) - Capital raising costs Net financing cash flows	- - - - - -	- - - - - (1)
	-	(1)
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter	(882) 3,103 -	(2,142) 4,363 -
	2,221	2,221

Payments to directors of the entity and associates of the directors

Payments to related entities of the entity and associates of the related entities

1.23 1.24	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
		131
		-
1.25	Explanation necessary for an understanding of the transactions
	The amount above includes all payments to Directors and also includes payments to entities associated with Greg English and Stephen Biggins. The payments relate to executive services and directors fees on commercial terms.

Non-cash financing and investing activities

• 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows.

2.2	n/a
	Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest.

n/a

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Financing facilities available

3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
	Nil	Nil
	Nil	Nil

Estimated cash outflows for next quarter

4.1 4.2 4.3 4.4	Exploration and evaluation Development Production Administration	$A’000
		250
		-
		-
		140
	Total	390

4.1 4.2 4.3 4.4	Exploration and evaluation Development Production Administration

Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current quarter $A’000	Previous quarter $A’000
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft Other (provide details)	561	776
	1,660	2,327
	-	-
	-	-
Total: Cash at end of quarter(item 1.22)	2,221	3,103

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest (note (2)	Interest at beginning of quarter	Interest at end of quarter
	Nil
	EL4906	Roxby Downs, SA	0%	100%

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Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

and dates.
	Total number	Number quoted	Issue price per security (cents)	Amount paid upper security (cents)
7.1 Preference+securities (description) 7.2 Changes during quarter
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs	41,500,000	29,900,000		Fully paid
7.5 +Convertible debt securities (description) 7.6 Changes during quarter
7.7 Options (description and conversion factor) Unlisted Options Unlisted Class B Options Unlisted Options 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	7,000,000 1,500,000 75,000 100,000	- - - -	Exercise price 25 cents 25 cents 20 cents 11 cents	Expiry date 30 Jun 2014 31 Oct 2014 19 Sep 2013 18 Jun 2014
7.11Debentures(totals only)
7.12Unsecured notes(totals only)

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).

• 2 This statement does give a true and fair view of the matters disclosed.

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Jaroslaw (Jarek) Kopias

Date: 17 July 2012

Company Secretary

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

www.coreexploration.com.au

Notes

• 1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

• 2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

3 Issued and quoted securities

The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .

• 4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.

5 Accounting Standards

ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

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