CORE LITHIUM LTD — Interim / Quarterly Report 2013

Oct 22, 2013

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23 October 2013

Centralised Company Announcements Platform Australian Stock Exchange 10[th] floor, 20 Bond Street Sydney NSW 2000

QUARTERLY ACTIVITIES AND CASHFLOW REPORT 30 SEPTEMBER 2013

Please find attached the Quarterly Activities and Appendix 5B Quarterly Cash Flow Reports for the quarter ended 30 September 2013.

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

23 October 2013

CORE EXPLORATION LTD

Level 2 143 Hutt Street Adelaide SA 5000 (08) 7324 2987

QUARTERLY ACTIVITIES REPORT FOR THREE MONTHS ENDED 30 SEPTEMBER 2013

Highlights

• Spectacular results received from Core’s recent exploration work on the Albarta Project in the N.T.

CONTACT:

Stephen Biggins Managing Director

Jarek Kopias

Company Secretary

Overview

The Board of Core Exploration Ltd (“Core”) is pleased to present its quarterly activities report for the period ended 30 September 2013 .

E-MAIL:

info@coreexploration.com.au

WEBSITE:

www.coreexploration.com.au

Directors:

Core’s first exploration work on the Albarta Project is delivering exceptional results that are building a list of high- quality drill targets that include:

• Up to 4,065 g/t silver, 25% lead and 10% copper and at Blueys Prospect

Greg English

Non-Executive Chairman

Stephen Biggins Managing Director

Michael Schwarz

Executive Director Exploration

Issued Capital:

81,800,740 Ordinary Shares 32,720,296 Listed Options 10,675,000 Unlisted Options

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

• Up to 34% copper at the Virginia Prospect

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

• 1% copper at the Paradise Well Prospect

• Large scale copper nickel PGE target at the Mordor Project

ASX Codes: CXO, CXOO

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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Project Activity

Albarta Project, Northern Territory

(CXO earning 51% JV interest and 100% CXO ELs)

Core holds a strong strategic tenure position covering 2,000km[2] in the newly recognised, highly prospective IOCG Aileron Province 100km NE of Alice Springs in the NT (Figure 1).

Core’s tenements cover a number of significant copper (+/- silver) mineral occurrences. The Company believes that the existing evidence of mineralisation and IOCG prospectivity confirmed by Geoscience Australia verifies the strategy that Core has pursued to take an early position in the Northern Territory which is gaining recognition as Australia’s new copper and IOCG exploration hot-spot.

Core’s first exploration work on the Albarta Project is delivering exceptional results that are building a list of high- quality drill targets that include:

• Up to 4,065 g/t silver, 25% lead and 10% copper and at Blueys Prospect*

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

• Up to 34% copper at the Virginia Prospect**

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

• 1% copper at the Paradise Well Prospect*

• Large scale copper nickel PGE target at the Mordor Project

surface rock chip results *historical rock chip results

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Figure 1: Core’s Albarta Project prospects and tenements overlain on regional geology, NT

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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Blueys Prospect, EL 28136

(CXO earning 51% JV interest)

Rock Chip Sampling and Mapping

The highest ever silver grades have been returned by Core’s rock chips sampling program during the quarter at Blueys and nearby Inkheart Prospect within the Company’s Albarta Project in the Northern Territory.

Surface rock chip samples from Blueys graded up to 4,065 g/t silver (Ag), 5.5 % copper (Cu) and 25% Lead (Pb) (Table 1).

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 (Figure 2). Surface mineralisation and widespread veining coincides with a sizeable soil anomaly (500m x 250m) greater than 1,000ppb Ag, including a peak silver in soil value of 25,250ppb Ag at Blueys (Figures 3, 4 & 5).

In addition, Core’s first rock chip sampling results at the Inkheart Prospect north of Blueys have confirmed anomalous silver levels at surface. Core’s geological mapping has identified a metal rich gossan coinciding with the newly-identified 1,500m by 250m area of high (greater than 1,000ppb) silver in soil anomaly (with a peak of 19,552ppb Ag) (Figures 3, 4 & 5).

Core believes that the high silver in soil and rock chip results are an indicator of significant mineralisation at depth.

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Figure 2: Rock chip samples containing malachite/azurite (copper) mineralisation Blueys Prospect, NT

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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Geology

Core’s mapping has identified that the reactive carbonate rocks of the Neoproterozoic Bitter Springs Formation, common at the Blueys Prospect, contain visual copper carbonate minerals (malachite and azurite), lead and silver minerals (argentiferous galena).

The Company considers the reactive carbonate characteristics of the Bitter Springs Formation to be an ideal host unit for mineralisation. At the Blueys Prospect the silver soil anomalies match the location of the Bitter Springs Formation wrapping around basement granites and amphibolites (Figure 3).

The Blueys and Inkheart Prospects occur at equivalent geological settings, within the Neoproterozoic Bitter Springs Formation at the contact with Proterozoic basement. The Inkheart Prospect has a dominant north-east orientation consistent with the regional structural trend.

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Figure 3: Regional geology at the Blueys and Inkheart Prospects.

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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Soils Surveys

Results of Core’s soil sampling program during the quarter have extended the extremely high silver (Ag) anomalism and confirmed a strong correlation between silver, copper and lead in soils at the Blueys Prospect and nearby Inkheart Prospect.

The Company has collected 930 soil samples at and around the Blueys and Inkheart Prospects at 200 × 200m and 50 × 50m spacing (Figure 3).

The majority of soil samples are highly residual, which means they should reflect the geochemistry of the underlying geology.

Silver anomalism in soils

Soil results including 19,552ppb, 18,241ppb, 16,084ppb and 14,758ppb silver have defined an exceptionally high core of silver anomalism at Inkheart. Very high silver in soils has been defined over a 200 x 50m area within a large high-magnitude silver anomaly that is over 2km long. Scope exists to further extend the length of the soil anomaly and thicken the width of the anomaly to the north-west (Figure 3).

The new results from Inkheart also compare favourably with Core’s infill soil sampling at Blueys nearby. Infill soils at Blueys have defined a sizeable silver footprint of 700m x 400m with a peak of 25,250ppb silver. Latest surface rock chip samples from Blueys graded up to 4,065 g/t silver (Ag), 5.5% copper (Cu) and 25% Lead (Pb) (Table 1).

These very high values are spectacular when considering that 100ppb is commonly regarded as anomalous silver in soils and are a strong indicator of significant mineralisation at depth.

Copper and Lead anomalism in soils

Core’s soil data has also confirmed a strong correlation between silver, copper and lead in soils at both the Blueys and new Inkheart Prospects (Figures 4 & 5).

The relationship of high silver, copper and lead is also supported by mineralised rock ship samples taken by Core at Blueys. It appears that the galena at Blueys is argentiferous (silver bearing) so that high values of lead in rock chips generally result in high silver values. This correlation also is borne out the soil results.

The levels of silver, copper and lead soil anomalism at Inkheart are 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 ever drilling programed being planned at both Blueys and Inkheart.

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

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Figure 5: Lead in soils overlain on silver in soils image, Blueys and Inkheart Prospects, NT.

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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SampleID	Easting	Northing	Prospect	Ag g/t	Cu_ppm	Pb_ppm
BLU011	474583	7400497	Blueys	4.01 kg/t	5.48%	1082
BLU012	474645	7400491	Blueys	1.15 kg/t	5473	24.9%
BLU013	474645	7400491	Blueys	1.26kg/t	2531	23.4%
1101	474811	7401354	Inkheart	29.52	1732	4107
1102	474807	7401352	Inkheart	28.73	306	3070
1103	474985	7401617	Inkheart	7.99	473	608
1104	475001	7401602	Inkheart	3.12	24	235
1105	474998	7401588	Inkheart	47.33	111	166
1106	475208	7401597	Inkheart	2.99	32	1077
1107	475208	7401597	Inkheart	1.95	55	670
1108	475231	7401595	Inkheart	3.3	186	109
1109	475261	7401589	Inkheart	1.35	63	134
1110	475268	7401579	Inkheart	0.64	85	19
1111	475303	7401838	Inkheart	0.14	10	55
1112	475393	7401620	Inkheart	0.57	22	53
1113	475377	7401611	Inkheart	6.12	34	112
1114	474340	7401538	Inkheart	0.65	7	28
1115	475356	7401508	Inkheart	0.46	5	70
1116	474758	7401256	Inkheart	4.4	76	263
1117	474656	7401200	Inkheart	2.37	348	1176
1118	474508	7401111	Inkheart	1.02	236	75
1119	474514	7401112	Inkheart	0.74	140	93
1120	474523	7401104	Inkheart	1.47	255	32
1121	474522	7401108	Inkheart	0.75	127	39
1122	474634	7401092	Inkheart	1.91	648	17
1123	474674	7401116	Inkheart	1.18	152	11
1124	474769	7401155	Inkheart	0.79	24	143
1125	474247	7400455	Inkheart	7.83	103	1792
1126	474200	7400524	Inkheart	3.64	224	175
1127	474171	7400460	Inkheart	2.45	25	49
1128	473343	7401980	Inkheart	0.13	20	90
1129	473342	7402064	Inkheart	0	9	201
1130	473600	7401937	Inkheart	0	32	154
1131	473927	7400766	Inkheart	0.07	110	162
1132	474164	7400475	Inkheart	8.68	147	126
1133	474109	7400476	Inkheart	43.16	460	27
1134	474093	7400341	Inkheart	1.61	5	16
1135	474453	7400499	Inkheart	12.85	693	53

Table 1: All recently collected surface rock chip results from Blueys and Inkheart Prospects, Albarta Project, NT.

Ag: 4A/MS 4 Acid Digest Mass Spectrometry: Cu: 4A/OE 4 Acid Digest Inductively Coupled Plasma Optical Emission Spectrometry. 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 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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Copper King Prospect, EL 29689 (CXO 100%)

Core’s analysis of mapping, prospecting and soil sampling by previous explorers has confirmed a large copper mineral field on its new and wholly owned exploration licence, EL 29689 covering 310km[2.] .

A number of key prospects are located within the area of the tenement with the most significant being Copper King, Copper Queen, Skippy Tail and MR2 (Table 2 & Figure 6).

Rock chips assays of up to 14.3% copper and 72.3 grams per tonne (g/t) gold have been sampled historically and Core now plans to utilise geophysical surveys for the first time over the area to pinpoint high priority drill targets.

	Type of	No. of	Gold	Gold	Copper	Copper
Prospect	Sample	Samples	(ppb)	(g/t)	(ppm)	(%)
Copper King	Rockchip	54	38,510	38.5	140,000	14.0%
CopperQueen	Rockchip	111	72,300	72.3	143,000	14.3%
CopperQueen 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%

Table 2: Maximum assays from historic geochemical sampling from prospects within EL 29689.

Previous explorers undertook a large amount of copper-gold focused exploration in the region in the 1990’s and early 2000’s utilising mapping, rock chip sampling and soil surveys to identify target areas for subsequent shallow RAB drilling.

Significant geochemical anomalism (both copper and gold) is associated with two main structural trends having significant strike extent, the NW-SE trending Florence Creek Shear Zone (FCSZ), and the E-W trending Copper Queen and Mogul trends.

Core believes that the structurally controlled setting for the Copper King and Copper Queen prospects, where 600m of visible malachite along a structure has been identified, is a potential fit for Core’s IOCG model of the Aileron Province.

Whilst first pass historic RAB drilling identified thin intervals of copper mineralisation, there is little evidence that geophysics was utilised in drill targeting. Core believes that any broader mineralisation within structures at depth could be identified through geophysics as demonstrated by recent copper exploration successes in the region (e.g. Kidman Resources (ASX:KDR) - Home of Bullion).

Core intends to undertake mapping, rock chip sampling and detailed geophysics over known areas of mineralisation to identify potentially larger mineral bodies at depth. Any substantial geophysical anomalies identified would constitute priority drill targets.

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 6: Copper rock chips at the Copper King and Copper Queen Prospect area overlain on Core’s new geophysical imagery, Albarta Project, NT.

Virginia Prospect, EL 29689

(CXO 100%)

During the reporting period, Core identified an undrilled copper target over 1km long with assay up to 34% copper at surface at Virginia Prospect within EL 29689.

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 1km strike at Core’s Virginia Prospect. 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.

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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Paradise Well Prospect, EL 27369

(CXO earning 51% JV interest)

Results from reconnaissance mapping by Core have identified additional copper mineralisation over an extended area at Paradise Well during the reporting period.

Surface samples with high copper levels (two samples at 1.1 % Cu) were identified at the newly discovered Paradise Well South Prospect. This satellite prospect is located just 2.5km south of the original Paradise Well find in 2012 and 2km west of a historic surface sample (3.8% Cu) on joint venture tenement EL 27369.

The latest copper mineralisation has been identified at surface during Core’s first exploration work at Paradise Well as malachite in veins and fractures over a distance of approximately 140m to date. Mineralisation occurs within quartz-albite-biotite-garnet schist and amphibolites and appears to be associated with massive magnetite veins.

The Paradise Well Copper Prospect sits on a regional north-westerly trending structure within the highly prospective IOCG zone (A1) as determined by Geoscience Australia. The strong association of copper mineralisation and massive magnetite veining suggests possible IOCG affinities.

Soil sampling by Core over the Paradise Well area has also defined a number of kilometre-scale coincident copper and silver anomalies. These new results have identified target areas worthy of follow up exploration over a larger than expected area.

Paradise Well area rock chip and soil results

Rock chip assay results reported during the quarter have revealed copper anomalism from a mapped malachite bearing zone (highest value 2.94 % Cu) at the Paradise Well Prospect and 2km away at Paradise Well South Prospect (Table 3 & Figure 7).

Sample ID	Easting	Northing	Prospect	**Goldg/t **	**Silverg/t **	**Copperppm **	Copper %
PWRK003	481680	7421407	Paradise Well	X	0.4	4703	0.47
PWRK026	481724	7421254	Paradise Well	0.03	0.2	2191	0.22
PWRK027	481718	7421287	Paradise Well	X	0.2	1229	0.12
PWRK030	481678	7421407	Paradise Well	X	X	450	0.05
PWRK031	481677	7421413	Paradise Well	X	0.3	6298	0.63
PWRK032	481680	7421412	Paradise Well	X	11.0	29431	2.94
PWRK033	481681	7421410	Paradise Well	X	0.2	710	0.07
PWRK034	481673	7421406	Paradise Well	X	X	445	0.04
PWRK037	481716	7421407	Paradise Well	X	X	58	0.01
PWSRK040	481760	7418863	Paradise Well South	X	0.7	10740	1.07
PWSRK041	481756	7418866	Paradise Well South	X	0.2	2016	0.2
PWSRK042	481752	7418875	Paradise Well South	X	0.3	10705	1.07

Table 3: All assay results of rock chip sampling >0.5% copper, Paradise Well (EL 27369), Albarta Project NT. Ag: 4A/MS 4 Acid Digest Mass Spectrometry: Cu: 4A/OE 4 Acid Digest Inductively Coupled Plasma Optical Emission

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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Spectrometry. The presence of this mapped surface mineralisation and alteration may or may not extend at depth and this can only be confirmed by drilling.

Whilst undertaking the mapping and rock-chip sampling Core also undertook a soil sampling program over Paradise Well, collecting over 300 samples at 100 × 100m and 50 × 50m spacing.

The latest soil sampling results (partial leach) have identified three coincident silver and copper anomalies in the broader Paradise Well soil data, providing new target areas worthy of follow up exploration and reinforcing evidence of mineralisation at Paradise Well (Figure 7).

Very little previous exploration work has been conducted at Paradise Well and only the area near the central soil anomaly has been mapped and sampled to date, opening up the possibility of more mineralisation on Paradise Well’s other similar copper/silver anomalies.

Copper mineralisation occurs at the western edge of the central copper soil anomaly at Paradise Well and appears to be controlled by shear zones which were identified during the mapping.

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Figure 7: Rock Chip assays overlain on copper (colour image) and silver (contours) in soils, Paradise Well Prospect, Albarta Project, NT.

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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Mordor Project, EL 28940

(CXO 100%)

Work undertaken by Core combined with results of the considerable body of work assembled by Rio Tinto (CRA) over a 20 year period has proven that the Mordor Complex is prospective for ‘reef’ type copper nickel PGE sulphide mineralisation associated with ultramafic cumulates.

“Walk-up” drill targets include the Orodruin and Braveheart prospects within the Mordor Project (Figure 8). The mineralisation identified at the Orodruin and Braveheart prospects has affinities to other deposits including the world-class Merensky Reef, Bushveld Complex in South Africa and the Great Dyke in Zimbabwe.

As well as the various walk-up, copper, nickel and PGE drill targets already identified by Core, reinterpretations of soil sampling have identified a number of copper and nickel (+/- platinum & chrome) anomalies not yet drill tested.

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Figure 8: X-Section Rio Tinto diamond drilling, Braveheart Prospect, Albarta Project, NT.

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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Fitton Project, EL 4569, South Australia (CXO 100%)

No exploration was undertaken at Fitton during the quarter.

Exploration by the Company’s on its wholly-owned Fitton project has led to arguably one of the best uranium discoveries in the region since Beverly Four Mile. Fitton is located in a proven world-class uranium mining region, 500km north of Adelaide in South Australia. The Company is hopeful that the value of this discovery will be reflected in the Company’s share price, as the future uranium price increases as predicted.

Core’s exploration work and drilling at Fitton during the year has now confirmed that:

• mineralisation outcrops

• mineralisation contains both thick and high grade intersections

• mineralisation extends to at least 150m downhole depth

• mineralised structure is over 1km long and open in both directions

Core’s Fitton project is located in some of Australia’s premier uranium acreage (Figure 9), being just north of:

• Beverley Mine : 46Mlb U3O8 Resource 7.7Mt @ 0.27% (21,000T U3O8

• Beverly North Mine : 8.8Mlb U3O8 Resource 2.2Mt @ 0.18% (4,000T U3O8)  Four Mile project : 71Mlb U3O8 Resource 9.8Mt @ 0.33% (32,000T U3O8  Mt Gee : 69Mlb U3O8 Resource 51.0 MT @ 0.06% (31,400T U3O8

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Figure 9: Core’s 100% owned Fitton project and world-class uranium deposits, mines and projects under development in the region.

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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Yerelina Project, EL 5015, South Australia (CXO 100%)

No exploration was undertaken at Yerelina during the quarter.

The Yerelina Project is within EL 5015 a large (999km[2] ) tenement with the potential to host multiple Pb – Zn – Ag bodies formed through a Mississippi Valley Type (MVT) or Sedimentary Exhalative style (SedEx) silver-lead-zinc style mineralisation system (Figure 10).

The geological setting combined with metal assemblage at Yerelina suggests affinities with MVT or SedEx silver-lead-zinc mineralisation. The repeated N/S orientated fault hosted mineralised outcropping breccias at Yerelina may represent feeder structures of a larger mineralised body at depth (Figures 11). The host unit Tapley Hill Formation is known to be dolomitic in parts making it a potential chemical trap unit Pb – Zn – Ag mineralisation. Repeated high grade samples from historical mullock heaps and insitu gossans provide evidence of the high grade nature of mineralisation in the area supporting Cores mineralisation models for the area.

Core plans to further investigate the Yerelina Project area through mapping and sampling as well as broad tenement scale exploration using geochemistry and geophysics to search for indicators of the presence of a larger mineralised sourced body.

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Figure 10: Geological environments for the formation of SEDEX and MVT deposits (after Goodfellow et al, 1993)

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: Outcrop samples with significant silver, lead and zinc assays at Great Gladstone historic workings overlain on satellite image, EL 5015.

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

CASH POSITION

Core Exploration had $1.06 million cash in hand as at 30 September 2013.

SHARE CAPITAL CHANGES

The Company issued 32,720,296 ordinary shares and 32,720,296 quoted options with an exercise price of 10 cents per share, exercisable on or before 31 October 2014. The shares and options were issued following completion of a 2 for 3 renounceable rights issue with one free attaching option per share raising $981,609. The shares were issued under the entitlement offer and placement of the shortfall.

Following the rights issue, the exercise price of all unlisted options on issue was reduced by 0.37 cents.

In addition, 75,000 unlisted options with and exercise price of 19.63 cents each lapsed on 19 September 2013.

A summary of movements and balances of equity security is listed below:

	Ordinary Shares	Listed Options	Unlisted options
On issue at start ofquarter	49,080,444	-	10,750,000
Renounceable rights issue entitlement	14,375,142	14,375,142	-
Renounceable rights issue shortfall	18,345,154	18,345,154	-
Lapse of options	-	-	(75,000)
On issue at the end of the quarter	81,800,740	32,720,296	10,675,000

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

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Outlook – December 2013 Quarter

Albarta, N.T.

Blueys

Results are pending from recent surface rock chip sampling focussed on identifying the source of the high silver in soil samples .at the Inkheart Prospect.

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 process procedures to enable the required approvals for drilling at Blueys and Inkheart.

Copper King and Virginia

Geological mapping and rock chip sampling is currently underway at Copper King and Virginia ahead of detailed geophysics over known areas of mineralisation to identify potentially larger mineral bodies at depth. There is little evidence that geophysics was utilised previously in drill targeting so substantial geophysical anomalies identified would constitute priority drill targets.

Core believes that any broader mineralisation within structures at depth could be identified through geophysics as demonstrated by recent copper exploration successes in the region (e.g. Kidman Resources (ASX:KDR) - Home of Bullion).

Paradise Well

Results are pending from recently completed soils sampling and further reconnaissance rock chip sampling work in the prospective geology south of Paradise Well.

Core intends to extend the exploration area around the Paradise Well and Paradise Well South Prospects using further mapping, sampling and soil surveys. The more significant geochemical anomalies will be followed up with geophysical testing and prioritised for drilling.

Other Prospects

Assessment of historic exploration information and geophysical data will continue and utilised to plan further exploration and geophysical surveys with the aim of prioritising for targets for drilling.

Fitton, S.A.

No field work is planned for the December 2013 Quarter.

Yerelina, S.A.

No field work is planned for the December 2013 Quarter.

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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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

Name of entity
Core Exploration Ltd
ABN 80 146 287 809	Quarter ended (“current quarter”)
80 146 287 809	30 September 2013

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) Net Operating Cash Flows	Current Quarter (3 Months) $A’000	Year to date (3 Months) $A’000
	- (190) - - (180) - 8 - - -	- (190) - - (180) - 8 - - -
	(362)	(362)
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) - - - - - - -	- - (1) - - - - - - -
	(1)	(1)
	(363)	(363)

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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1.13 Total operating and investing cash flows (brought forward)	(363)	(363)
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	970 - - - - (131)	970 - - - - (131)
	851	851
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	488 570 -	488 570 -
	1,058	1,058

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 Aggregate amount of payments to the parties included in item 1.2 1.24 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
	133
	-
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.

n/a

• 2.2 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

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

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
		270
		-
		-
		180
	Total	450

• 4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 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 5.4 Other (provide details)	1,018	530
	40	40
	-	-
	-	-
Total: Cash at end of quarter(item 1.22)	1,058	570

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
	EL 4568, SA EL 4379, SA EL 4174, SA EL 4177, SA	Direct Direct Direct Direct – now EL5320	100% 100% 100% 100%	0% 0% 0% 0%
	EL 5320, SA EL 29687, NT EL 29688, NT EL 29689, NT	Direct – previously EL4177 Direct Direct Direct	0% 0% 0% 0%	100% 100% 100% 100%

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

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.

	Total number	Number quoted	Issue price per security (cents)	Amount paid up per 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	81,800,740	81,800,740
	32,720,296	32,720,296	3.00	3.00
7.5 +Convertible debt securities (description) 7.6 Changes during quarter
7.7 Options (description and conversion factor) Unlisted options Unlisted Employee Options Unlisted Options Unlisted Employee Options Unlisted Class B Options Unlisted Director Options Total unlisted options Total listed options 7.8 Issued during quarter - listed options 7.9 Exercised during quarter 7.10 Expired during quarter - unlisted options	100,000 7,000,000 75,000 1,500,000 2,000,000 10,675,000 32,720,296	- - - - - - 32,720,296	Exercise price 10.63 24.63 12.63 24.63 19.63 10.00	Expiry date 18 Jun 2014 30 Jun 2014 30 Sep 2014 31 Oct 2014 13 Nov 2014 31 Oct 2014
	32,720,296	32,720,296	10.00	31 Oct 2014
	75,000	-	19.63	19 Sep 2013
7.11Debentures(totals only)
7.12Unsecured notes(totals only)

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

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: 23 October 2013

Company Secretary

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