CORE LITHIUM LTD — Investor Presentation 2011

Dec 1, 2011

Technical Presentation to the South Australian Exploration and Mining Conference Adelaide, South Australia 2/12/2011

Disclaimer

• This document has been prepared by Core Exploration Limited (“Core”, “Company”) and provided as a basic overview of the tenements held or controlled by the company. This presentation does not purport to be all-inclusive or to contain all the information that you or any other party may require to evaluate the prospects of the Company.

• None of the Company, any of its related bodies corporate or any of their representatives assume any responsibility for, or makes any representation or warranty, express or implied, with respect to the accuracy, reliability or completeness of the information contained in this document and none of those parties have or assume any obligation to provide any additional information or to update this document.

• To the fullest extent permitted by law, the Company, its related bodies corporate and their representatives expressly disclaim liability for any loss or damage arising in respect of your reliance on the information contained in this document (including your reliance on the accuracy, completeness or reliability of that information), or any errors in or omissions from this presentation, including any liability arising from negligence.

• The mineral tenements of the Company as described in this presentation are at various stages of exploration, and potential investors should understand that mineral exploration and development are high-risk undertakings.

• There can be no assurance that exploration of the Tenements, or any other tenements that may be acquired in the future, will result in the discovery of an economic ore deposit. Even if an apparently viable deposit is identified, there is no guarantee that it can be economically exploited.

• This document contains statements which may be in the nature of forward-looking statements. No representation or warranty is given, and nothing in this presentation or any other information made available by the Company or any other party should be relied upon as a promise or representation, as to the future condition of the respective businesses and operations of the Company.

Capital Structure

• Shares on issue

41.5M

• Options (25c)

• 8.5M

• Share Price

~$0.09

• Market Cap (undiluted)

• $3.8M

• Cash (30 Sep 2011)

• $3.7M

Undervalued assets with huge upside leveraged to copper exploration success on Yorke Peninsula S.A.

Palace IOCG Project

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Palace IOCG Project
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Palace IOCG Project

Potential exists in the district for:

• IOCG magnetite and/or hematite breccia style mineralisation

• IOCG related skarn style mineralisation

Critical geological factors to constrain exploration:

• Presence of Hiltaba Suite aged granites and mafic intrusives

• Major structural features active at time of Hiltaba Suite emplacement

• Evidence of widespread iron metasomatism (enhanced regional magnetic signature)

• Evidence of structural control on iron alteration systems

Palace IOCG Project

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• Presence of Hiltaba Suite aged granites and mafic intrusives

• Major structural features active at time of Hiltaba Suite emplacement

Palace IOCG Project

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• Evidence of widespread iron metasomatism (enhanced regional magnetic signature)

• Evidence of structural control on iron alteration systems

Work completed

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Aeromagnetics/ Radiometrics 2430 line km 100m line spacing

Gravity 1312 line km 500m x 500m spacing 250 x 250 m infill

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Soil Sampling 686 samples 500m x 500m spacing

Aircore Drilling 41 drill holes 3636 m drilled

Palace Structural Corridor

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Aeromagnetics/ Radiometrics 2430 line km 100m line spacing

Residual Gravity

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Semi-coincident Magnetic- Gravity Resdiual Gravity Anomalies

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TMI

Residual gravity contours on TMI RTP

Drill Results

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Aircore Drilling

• 41 drill holes

• 3636 m drilled

• Only 8 historical shallow holes on margin of tenement

• Predicted depth to basement ~20m

• • Predicted cover, Tertiary sands then weathered basement to 50-70m

• Drilled 6 targets (A-F)

• Targets lie in a restricted glacial basin (Troubridge Formation)

Drill Results

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Aircore Drilling

• Drilled 6 targets (A-F)

• Targets lie in a restricted glacial basin (Cape Jervis Formation)

• Depth of cover ~100m

• Hit basement on 3 targets A, D, F

• Basement lithologies consist of metasomatite, altered Hiltaba Suite granite, biotite schists and deformed mafic intrusives

Drill Results

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Calcrete 0-8m

Weathered diamictite 8-24m

Clayey diamitcite (Cape Jervis Formation) 24-70m

Sandy diamitcite with repeated cemented sandstone layers (Cape Jervis Formation) 70-100m

Sharp basement contact (no weathering)

Fresh basement 50 to > 100m Metasomatite, altered granite, mafic intrusives, metasediments

Upcoming work

Further Infill Gravity

• Aim is to cover all semi coincident magnetic gravity features with 250 m x 250 m gravity stations, late December 2011

Phase 2 Deep RC Drilling Program

• 20 holes at an average of 200m deep (100m into basement)

• 4000m in total

• Aim to test 7-8 targets which were untested in Phase 1

• Start late January 2012

Airborne Electromagnetics

As part of the PACE Targeting 2011 Initiative, Core Exploration was awarded a $50 000 grant to undertake a detailed airborne electromagnetic survey over the Palace IOCG Project

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AEM Survey is underway now on the Yorke Peninsula Survey Specifications 375 line km 200m line spacing East-west orientation

Airborne Electromagnetics

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AEM as a IOCG exploration tool

• While magnetics and gravity are good ways to target the mineral system on a larger scale (the area of magnetite and/or hematite enrichment) AEM has the ability to target conductive sulphides and therefore mineralisation directly.

• Interconnectivity of conductive minerals required to generate EM anomaly.

• Typically, graphite, pyrite and or pyrrhotite are responsible for the observed bedrock AEM responses however massive magnetite in veins and replacement bodies can also be detected.

Airborne Electromagnetics

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• The ore mineral assemblage of higher temperature IOCG systems on the Yorke Peninsula is dominated by magnetite-pyrite-chalcopyrite.

• Interconnectivity of these minerals should produce conductors able to be identified by the AEM survey

• Conductive targets can be concealed by other geological conductors, "geological noise", such as:

• lateral variations in conductive overburden.

• graphitic bands in metamorphosed country rock.

• altered (to clay facies) mafic-ultramaific rocks.

• • faults and shear-zones carrying appreciable saline groundwater and/or clay gouge.

• magnetite bands in serpentinised ultramafics.

The information in this report has been compiled by Stephen Biggins (BSc(Hons)Geol, MBA) as Managing Director of Core Exploration Ltd and who is a member of the Australasian Institute of Mining and Metallurgy and is bound by and follows the Institute’s codes and recommended practices. As a Competent Person, he has a minimum of 5 years relevant experience in the style of mineralisation and types of activities being reported and has given written consent to the above report in the form and context in which it appears.