CORE LITHIUM LTD — Interim / Quarterly Report 2012

Jan 24, 2013

==> picture [594 x 140] intentionally omitted <==

25[th] January 2013

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

QUARTERLY ACTIVITIES AND CASHFLOW REPORT 31 DECEMBER 2012

Please find attached the Quarterly Activities and Appendix 5B Quarterly Cash Flow Reports for the quarter ended 31 December 2012.

Yours faithfully

==> picture [134 x 41] intentionally omitted <==

Stephen Biggins Managing Director

==> picture [596 x 29] intentionally omitted <==

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

==> picture [165 x 52] intentionally omitted <==

ASX Release

25 January 2013

CORE EXPLORATION LTD

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

CONTACT:

Stephen Biggins Managing Director

QUARTERLY ACTIVITIES REPORT FOR THREE MONTHS ENDED 31 DECEMBER 2012

Highlights

• Outstanding new high-grade uranium discovery, Fitton, S.A.

• Follow-up RC drilling at Fitton planned during the current quarter.

• Geoscience Australia report confirms IOCG prospectivity of Core’s new Albarta Project in the N.T.

Jarek Kopias

Company Secretary

• 203 g/t silver and 13.4% lead/zinc on new 1,000km[2] EL 5015 Yerelina, S.A.

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 31 December 2012 .

Directors:

Greg English

Non-Executive Chairman

Stephen Biggins Managing Director

Michael Schwarz

Executive Director Exploration

Issued Capital:

48,080,444 Ordinary Shares 10,750,000 Unlisted Options

ASX Code: CXO

Core’s first drill program on the Fitton project in S.A. has made an outstanding high-grade uranium discovery at the Scott Lee prospect, including 5m @ 2,540ppm U3O8 (0.25%).

Geoscience Australia (GA) confirms the region covered by Core’s Albarta Project in the N.T. as being highly prospective for IOCG mineralisation in what the Company believes will be Australia’s new copper exploration hot-spot.

Silver and base-metals discovered along strike from old workings on the 1,000km[2] Yerelina Project in S.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

Project Activity

FITTON PROJECT, South Australia

EL 4569 (100% CXO)

Core made a significant new uranium discovery in a proven world-class uranium mining region, on its Fitton Project, 500 kilometres north of Adelaide in South Australia during the quarter.

Spectacular high grade uranium results from Core’s maiden drill program at Fitton include:

• 14m @ 1,047ppm U3O8 (0.10%) (SLRC008)

• Including 5m @ 2,540ppm U3O8 (0.25%)

• 11m @ 316ppm U3O8 (SLRC009)

• Including 1m @ 1,465ppm U3O8 (0.15%)

• 11m @ 174ppm U3O8 and 0.1% Cu (SLRC004)

• Including 5m @ 217ppm U3O8 and 0.18% Cu

Core’s RC drill program during October/November 2012 at its wholly-owned Fitton Project intersected high grades of uranium (5m @ 0.25% U3O8) within broad zones of mineralisation (14m at 0.10% U3O8) at Scott Lee Prospect (Table 1).

Fitton is located in some of Australia’s premier uranium acreage, being just north of the Beverley (46Mlb U3O8 Resource 7.7Mt @ 0.27% (21,000T U3O8)); Four Mile (71Mlb U3O8 Resource 9.8Mt @ 0.33% (32,000T U3O8)); and Mt Gee (69Mlb U3O8 Resource 51.0 MT @ 0.06% (31,400T U3O8)) uranium deposits, project developments and mines (Figure 5).

==> picture [355 x 266] intentionally omitted <==

Figure 1: Core Exploration’s RC drill program at Scott Lee Prospect, Fitton Project, 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

==> picture [166 x 52] intentionally omitted <==

Scott Lee Prospect

Anomalous uranium levels have consistently been intersected at the Scott Lee Prospect, with mineralisation concentrated at or near the contact between sheared mafic schist and granite, with the mafic schist the dominant host for the mineralisation (Figure 2).

High grade uranium sections were intersected in pyritic mafic schist whilst, to date, the moderate copper grades are at shallow depths, in oxidised conditions, with malachite being the copper bearing mineral. This has been hosted in both the mafic schist and granites.

Mineralisation is open at depth and along strike in both directions (Figures 2 & 4).

==> picture [453 x 278] intentionally omitted <==

Figure 2: All drill traces projected to surface results highlighting relationship between mafic, chlorite schist and uranium - overlain on magnetic image, Scott Lee Prospect, Fitton Project, northern South Australia.

Hamilton Prospect

The Hamilton Prospect consists of a large north-east trending magnetic anomaly which extends for over 2km (Figures 3 and 4). The first drill results at Hamilton confirmed that the mineralising geology at Hamilton is very similar to Scott Lee and consists of a sheared mafic dyke hosted by megacrystic granite.

Four shallow holes were drilled at Hamilton for a total of 252m. Similarly to the mineralisation at Scott Lee, anomalous copper and uranium were intersected at Hamilton in two of these holes.

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

==> picture [166 x 52] intentionally omitted <==

HLRC001 intersected 3m at 104ppm U3O8 and in HLRC003 intersected 7m @ 1,020 ppm Cu including 2m @ 2,895 ppm Cu.

Considering the large size of the exploration target at Hamilton and that only 4 holes were drilled in the 2km long anomaly, Core considers this prospect to be highly prospective for high grade uranium mineralisation similar to the outstanding Scott Lee uranium discovery.

==> picture [442 x 285] intentionally omitted <==

Figure 3: Significant drill results and drill hole locations overlain on RTP magnetic image, Hamilton Prospect, Fitton Project, northern South Australia.

Core’s first drilling campaign at Fitton in late 2012, comprised a total of 1,902 metres of reverse circulation targeting seven prospects (Figure 4). All assays from the RC drilling at Fitton have been received with significant results summarised below:

Hole ID	MGA East	MGA North	From	To	Width	U3O8 ppm	Cu ppm
Previously announced		results
SLRC001	365650	6686875	24	26	2	140	960
SLRC003	365577	6686914	25	26	1	355	243
SLRC004	365479	6686914	21	32	11	174	951

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

==> picture [166 x 52] intentionally omitted <==

Hole ID	MGA East	MGA North	From	To	Width	U3O8 ppm	Cu ppm
including			27	32	5	217	1,813
SLRC005	365457	6686919	20	24	4	139	127
SLRC005			28	29	1	70	1,690
SLRC007	365472	6686892	58	62	4	377	<100
SLRC008	365505	6686896	49	60	11	1,309	<100
including			51	56	5	2,544	<100
SLRC009	365554	6686884	60	69	9	340	<100
including			67	68	1	1,465	<100
SLRC011	365494	6686915	21	32	11	103	<100
SLRC012	365501	6686880	76	105	29	100	155
SLRC014	365406	6686901	33	34	1	121	<100
			48	49	1	184	<100
			63	64	1	273	<100
New Results
HLRC001	362471	6686080	51	54	3	104	<100
HLRC003	362790	6686178	12	19	7	<50	1020
including			15	17	2	<50	2895
HLRC003			43	46	3	<50	1142
CHRC003	365018	6686638	53	54	1	<50	6425

Table 1#: Significant assay results from RC drilling at Scott Lee above 100ppm U308 or 1,000ppm Cu. SL = Scott Lee, HL = Hamilton, CH = Choppy.

• # Notes to Table 1: All drill holes listed at Scott Lee were drilled due north at 60 degrees. Intervals are down hole and do not represent true widths. Uranium was assayed using a four acid digest on an Inductively Coupled Plasma Mass Spectrometer (ICP-MS) and copper was assayed using a four acid digest on an

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

==> picture [166 x 52] intentionally omitted <==

Inductively Coupled Plasma Optical Emission Spectrometer (ICP-OES). U3O8 ppm calculated from U ppm. Coordinates are in MGA 94 Z54. Includes intersections averaging above 100ppm U3O8 (20ppm cut-off) and 1000ppm Cu. NSA = No significant assays.

==> picture [452 x 292] intentionally omitted <==

Figure 4: Drillhole and prospect location overlain on magnetic image, 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

==> picture [166 x 52] intentionally omitted <==

==> picture [461 x 481] intentionally omitted <==

----- Start of picture text -----

Hamilton
Scott Lee
----- End of picture text -----

Figure 5: Core’s 100% owned Fitton project (EL 4569) 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

==> picture [166 x 52] intentionally omitted <==

ALBARTA PROJECT, Northern Territory

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

Core has built a strong strategic holding in the newly recognised, highly prospective IOCG Aileron Province in the NT, through joint venture, acquisition and new tenement applications. The Company’s Albarta Project covers 2,000km[2] within the highly prospective IOCG (IronOxide-Copper-Gold) A1 prospectivity zone of the Aileron province, 100km NE of Alice Springs (Figure 6).

Core’s tenements cover a number of significant copper, gold, uranium and rare earth element (REE) mineral occurrences. This suite of commodity metals is typical of large IOCG systems in Australia (e.g. Olympic Dam).

The Company believes that the existing evidence of mineralisation and recently confirmed IOCG prospectivity (refer Geoscience Australia report below) verifies the strategy that the Company has pursued to take an early position in an area it believes will be Australia’s new copper IOCG exploration hot-spot.

Activity during the period

Reconnaissance prospect assessment and sampling field work were undertaken on the Albarta JV tenements during November 2012. A preliminary field assessment of the prospectivity of a number of prospects identified by the Joint Venture partners was conducted during this process.

Rock-chips were sampled from some of the prospects assessed and submitted for assay. Final results of these assays are expected to be confirmed by the laboratory in February 2013.

Core is undertaking a detailed review of the sizeable historic exploration and geological information relevant to the IOCG prospectivity of the Albarta Project. This work includes assessment of the geophysical datasets available and highlighting areas for infill and detailed geophysics.

The Company’s view of the IOCG prospectivity of the tenements is increasing as Core’s exploration assessment of current field and historic exploration data continues. Much of the geology covered by Core’s tenements has the fundamental geological characteristics that are associated with IOCG style of deposits.

Geoscience Australia IOCG Prospectivity Report

An independent report released by Geoscience Australia in 2012 highlights the area covered by the Albarta Project as being highly prospective for uranium-rich IOCG deposits (Figure 6).

Geoscience Australia (GA) is Australia’s peak geoscientific agency and a world leader in providing first class geoscientific 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

==> picture [166 x 52] intentionally omitted <==

==> picture [475 x 267] intentionally omitted <==

Figure 6: Core’s Albarta Project tenements overlain on detail of Geoscience Australia IOCG prospectivity Map, NT

The report highlights that the Aileron Province shares many geological features, similarly-aged stratigraphy and event histories with the well-endowed Gawler Craton and Mt Isa Province, which host some of the largest known IOCG deposits.

The report undertook regional geological framework studies in order to better understand the geodynamic and architectural controls on major energy systems. Mineral potential modelling for uranium-rich IOCG mineral systems has identified six areas as having potential.

The most significant area (A1) is an extensive area along the southern margin of the Aileron Province. The recently-discovered Austin, Powers and Bigglesworth prospects and the Johnnies Reward prospect are located in this zone (Figure 6).

These regional studies of the report have been based around the acquisition of deep crustal seismic and magnetotelluric data. In conjunction with these datasets, a range of complimentary datasets and derivative products have also been generated, including 3D geophysical and geological models, geochemical and geochronological data, geodynamic syntheses and models, and assessments of uranium and geothermal energy potential.

NT Joint Venture Exploration Licences granted

Five exploration licences were granted within the Albarta Project during the period. These tenements were in application stage when the Joint Venture was established in September 2012– all JV tenements are now granted (Figure 6).

These newly granted tenements cover 200km[2] in geology prospective for IOCG as part of Transaction (JV) 1 and (Figure 6).

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

==> picture [166 x 52] intentionally omitted <==

YERELINA PROJECT, South Australia

EL 5015 (100% CXO)

Core Exploration has confirmed shallow base and precious metal mineralisation on the Company’s newly granted 1000km[2] Yerelina EL 5015. EL 5015 is located 20km west of Core’s Fitton Project (Figure 7).

Core’s mapping and sampling around and along strike from historic workings has found extensive silver, lead and zinc mineralisation. Mineralisation occurs at all three locations sampled so far, which has exciting implications for the size of the broader mineralizing system (Figure 8).

Historic Target	Silver	Lead	Zinc	Pb+Zn
Great Gladstone	203g/t	5.0%	2.3%	7.30%
Emily	12.1 g/t	0.9%	12.4%	13.34%
Big Hill	5.9 g/t	1.7%	0.6%	2.35%

Table 2: Summary of best results of reconnaissance sampling of 3 historic mine workings, EL 5015.

Core is also encouraged by the base metal discovery reported by Cauldron Energy (ASX:CXU - 17/10/2012) 20km to the north of Core’s base metal and silver results (Figure 7).

==> picture [448 x 315] intentionally omitted <==

----- Start of picture text -----

CXU
Base Metal Discovery
Core
Base Metal
Mineralisation
EL 5015
----- End of picture text -----

Figure 7: Area of focus of current RC drilling program on Core’s EL 4569 Fitton and also new EL 5015 Yerelina and surrounding mineral occurrences and mines, 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

==> picture [166 x 52] intentionally omitted <==

Four historical workings, operating in the late 19[th] and early 20[th] century, are recorded from within EL 5015. Core’s analysis of modern satellite imagery and the Company’s recently completed detailed heli-borne magnetic and radiometric survey data has identified that these workings are hosted by a large scale system of repeated north-south regional structures over many kilometres (Figure 8).

==> picture [466 x 318] intentionally omitted <==

Figure 8: Outcrop samples with significant silver, lead and zinc assays and historic working locations 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

==> picture [166 x 52] intentionally omitted <==

Corporate

CASH POSITION

Core Exploration had $1.72 million cash in hand as at 31 December 2012.

SHARE CAPITAL CHANGES

Core Exploration issued the following equity securities during the quarter:

Fully paid ordinary shares

On 17 December 2012 Core completed the placement of 6,250,000 fully paid ordinary shares at 8 cents per share to raise $500,000 to fund drilling on Fitton and accelerate exploration on key Australian projects.

At the 2012 AGM on 13 November 2012, 330,444 fully paid ordinary shares were approved and issued as part payment for an exploration services contract (restricted to 13 February 2013).

Unlisted options

At the AGM on 13 November 2012, 2,000,000 director options were approved and issued to the Exploration Director with KPI based vesting conditions. Options have an exercise price of 20 cents and expiry 13 November 2014.

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

==> picture [166 x 52] intentionally omitted <==

Outlook – March 2013 Quarter

Fitton, S.A.

Core is currently undertaking further exploration and field mapping comparing magnetic susceptibility and magnetic data to uranium distribution which could lead to identification of prospective zones outside of the current targets at Hamilton and Scott Lee.

Detailed infill soil sampling is being undertaken in late January across the Scott Lee and Hamilton Prospects to identify new zones of surface mineralisation.

Aboriginal Heritage clearances and government approvals for drilling are in process to enable further drilling around the Scott Lee and Hamilton mineralisation.

Follow-up “step-back” and “along strike” RC drilling is planned at Scott Lee and Hamilton during Q1 2013 once land access is approved.

Albarta, N.T.

Assay results from reconnaissance geological mapping and samplings from prospects assessed during the reporting period are expected in February 2013.

Soil and rock-chip sampling surveys and geological mapping are planned on priority prospects during the March 2013 quarter.

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 mid-2013.

Yerelina, S.A.

Further mapping and sampling is planned at this tenement during the March quarter 2013 and will include mapping and sampling at the fourth historical workings (Great Northern) and at other potential extensions of gossan identified from interpretations of satellite imagery and newly acquired airborne magnetic data.

Core will undertake petrophysical analysis of the mineralised samples in an attempt to develop geophysical methods that could map mineralisation at depth. This data, in conjunction with surface mapping and sampling, will allow the company to develop a targeted drilling program focusing on near surface high grade mineralisation mid-2013.

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 80 146 287 809

Quarter ended (“current quarter”) 31 December 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) - PACE GRANT Net Operating Cash Flows	Current Quarter (3 Months) $A’000	Year to date (6 Months) $A’000
	- (501) - - (199) - 23 - - - -	- (702) - - (365) - 53 - - - 50
	(677)	(964)
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)	- - (6) - - - - - - -	- - (8) - - - - - - -
	(6)	(8)
	(683)	(972)

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

1.13 Total operating and investing cash flows (broughtforward)	(683)	(972)
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	500 - - - - (31)	500 - - - - (31)
	469	469
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	(214) 1,932 -	(503) 2,221 -
	1,718	1,718

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
	136
	-
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

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
		470
		-
		-
		180
	Total	650

• 4.1 Exploration and evaluation

4.2 4.3 4.4	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 5.4 Other (provide details)	878	592
	840	1,340
	-	-
	-	-
Total: Cash at end of quarter(item 1.22)	1,718	1,932

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 29304 EL 29347 EL 29389 EL 29512 EL 29514	Grant of Albarta JV1 Exploration Licences	0% (earning 51% JV interest)	0% (earning 51% JV interest)

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.

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	48,080,444	36,150,000
	330,444 6,250,000	0 6,250,000	7.5cents 8.0cents	Fully paid 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 Employee Options Unlisted Employee Options Unlisted Employee Options Unlisted Director Options Total 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 75,000 2,000,000 10,750,000	- - - - - -	Exercise price 25 cents 25 cents 20 cents 11 cents 13 cents 20 cents	Expiry date 30 Jun 2014 31 Oct 2014 19 Sep 2013 18 Jun 2014 30 Sep 2014 13 Nov 2014
	2,000,000	-	20 cents	13 Nov 14
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.

==> picture [126 x 84] intentionally omitted <==

Jaroslaw (Jarek) Kopias

Date: 25 January 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.

== == == == ==

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