CORE LITHIUM LTD — Investor Presentation 2012

Dec 2, 2012

Outstanding high-grade uranium discovery in proven world-class uranium mining district

Dec 2012

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.

Core Investment Summary

• Outstanding new discovery (ASX Announcement: 30/11/12) of high grade uranium in maiden drilling program on the 100% owned Fitton Project, in northern S.A.

• Maiden drill program at Fitton returns spectacular high grade uranium results:

• 14m @ 1,047ppm U3O8 (0.1%)

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

• 11m @ 316ppm U3O8

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

• 11m @ 174ppm U3O8 and 0.1% Cu

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

• Building a strong position in Australia’s newest IOCG copper exploration hotspot. Core’s now Albarta Project comprises a number of tenements over a large area in

• Australia’s new Aileron IOCG Province

• High grade silver and base metals identified within huge structural system at new Yerelina Project, S.A.

• Tight capital structure of only 41.8M shares

Outstanding high-grade uranium discovery at Fitton, S.A.

• Spectacular high grade uranium results from maiden drill program at Fitton:

• 14m @ 1,047ppm U3O8 (0.1%)

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

• 11m @ 316ppm U3O8

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

• 11m @ 174ppm U3O8 and 0.1% Cu

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

• Mineralisation is open at depth and along strike in both directions

• Assay results confirm high scintillometer readings in field reports

• Fitton Project located in proven, world-class uranium mining province

• Remaining assays to be received by mid –December (note: samples with highest scintillometer readings reported to ASX 30/11/12)

Fitton high-grade uranium discovery: Exciting new drill results

One of the best uranium discoveries in the region since Beverley Four Mile

Hole_Id	Depth_From	**Depth_To **	Interval_m	U3O8 ppm	U3O8 %	Cu %
SLRC001	24	26	2	140	0.01%	0.10%
SLRC003	25	26	1	355	0.04%	0.02%
SLRC004	21	32	11	174	0.02%	0.10%
including	27	32	5	217	0.02%	0.18%
SLRC005	20	24	4	139	0.01%	0.01%
SLRC007	58	62	4	377	0.04%	NSA
SLRC008	43	57	14	1047	0.10%	NSA
including	51	56	5	2544	0.25%	NSA
SLRC009	60	69	11	316	0.03%	NSA
including	67	68	1	1465	0.15%	NSA

Scott Lee Prospect: RC Drilling Results

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Fitton RC Drilling Program: 6 magnetic anomalies drilled

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Fitton RC Drilling Program: More uranium anomalies to test

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Fitton geological similarities to Mt Gee

• The Fitton mineralisation appears to have most geological similarities with the Mt Gee Uranium-REE Deposit at Mt Painter.

• Mt Gee deposit contains 69Mlb (31,400T) of U3O8 (Total Resource of 51 Mt at 615 ppm U3O8) within the Paralana U-REE-polymetallic Mineral System

Fitton Mt Gee-Mt Painter Structurally controlled uranium-REE-gold - copper mineralisation

Structurally controlled uranium-copper-gold mineralisation Shear zone hosted

Breccia hosted

Dominant chlorite-magnetite +/- hematite alteration

Dominant hematite-chlorite alteration

Controlled by ESE structure (Hamilton within major NE structure) Hosted in 1560-1551 Ma granites

Mineralisation interpreted to be late Delamerian age

Controlled by NE structure

Hosted in 1560-1551 Ma granites Mineralisation interpreted to be late Delamerian age

Fitton uranium discovery in proven world-class uranium mining province

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• Large mines, mine developments and deposits within the region:

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Scott Lee
Prospect
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• Beverley Mine 46Mlb U3O8 Resource 7.7 Mt @ 0.27% (21,000T U3O8)

• Four Mile Project 71Mlb U3O8 Resource 9.8 Mt @ 0.33% (32,000T U3O8)

• Mt Gee 69Mlb U O 3 8

• Resource 51.0 Mt @ 0.06% (31,400T U3O8)

• Proven world-class uranium mining district

• High-grade uranium discovery at Fitton only 25km from Beverley uranium operations producing and exporting yellowcake

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Core builds strong position in Australia new copper exploration hotspot, NT

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GA Report highlights area of Core’s tenements as highly prospective for IOCG

• Geoscience Australia (GA) is Australia’s leading geoscientific agency

• GA’s mineral potential modelling for uranium-rich IOCG mineral systems has identified six areas as having potential in the southern N.T.

• The most significant A1 area is an extensive area along the southern margin of the Aileron Province covered by Core’s large tenement package.

• A1 area includes the recently-discovered Austin, Powers and Bigglesworth prospects (MTH) and the Johnnies Reward deposit are located in this zone

• Aileron Province is not yet known to contain major IOCG deposits, but it shares many geological features and similarities with the well-endowed Gawler Craton and Mt Isa Province

• Some of the largest known IOCG deposits are in the Gawler Craton in South Australia and the Mt Isa Province in north Queensland

GA Report highlights area of Core’s tenements as highly prospective for IOCG

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Core Exploration’s tenements overlain on detail of GA IOCG prospectivity map Aileron IOCG Zone, Northern Territory.

Core builds strong position in Australia’s newest IOCG Province

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Core Exploration Albarta Project tenements and prospects overlain on regional geology and structure.

Strong Strategy in new IOCG Province

Core will be exposed to the upside from:

• CXO exploration success

• Exploration and mining success in the region as investment activity increases

• Growing industry and market recognition of a new, outcropping IOCG terrain

• Exposure to gold, REE, uranium commodities along with copper focus

• Potential to bring in high-spend JV partners on non-core commodities and tenements

Existing mineralisation at Albarta Project Prospects

Prospect	Copper	Gold	Uranium	Other
Oona	2.7% Cu			2.6% Zn
Paradise Well	3.8% Cu
Blueys	2% Cu			320g/t Ag
East Amarata		25g/t Au
Pattersons		30m@0.5g/t Au*
Daicos			19.4% U	22.3% REE
Yambla			13.8% U
Blueys Folley				7% REE
Mordor				2m@1.1g/t Pt+Pd+Au*

Significant surface rock chip sampling and drill intercepts (*) from prospects on Core’s Albarta Project, N.T. Sourced from NTGS and company exploration reports.

Yerelina Project - Silver Lead Zinc

Historic Target	Silver	Lead	Zinc	Pb+Zn
Great Gladstone	203.0 g/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%

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

CXU Base Metal Discovery

• High silver/lead/zinc discovered along strike from old workings

CXO

Base Metal

Find

• Recently granted Yerelina tenement (EL 5015) adjacent to Core’s Fitton Project

• Large tenement area (approx 1,000 km[2] )

• Multiple targets on potentially huge scale

• Cauldron (CXU) also making silver/lead/zinc discoveries nearby

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Yerelina Project: Silver & Lead/Zinc

• Kilometre scale - repeated set of highly mineralised faults/targets

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Forward Exploration Program

Project Q4 2012 Q1 2013 Q2 2013	Project Q4 2012 Q1 2013 Q2 2013	Project Q4 2012 Q1 2013 Q2 2013	Project Q4 2012 Q1 2013 Q2 2013
Fitton, S.A	RC Drilling	Drilling	Drilling*
Yerelina, S.A		Sampling/Mapping	Geophysics/Drilling*
Albarta, N.T	Sampling/Mapping	Sampling/Mapping	Sampling/Mapping
		Geophysics	Geophysics
			Drilling*

Summary

• Core’s shareholders are exposed to the immediate upside of the outstanding new discovery of high grade uranium in maiden drilling program on the 100% owned Fitton Project , in northern S.A.

• Core’s new Albarta Project takes strong position in new Australian IOCG province in the NT :

• Core has rights to 20 tenements covering close to 2,000km[2] in a new IOCG terrain

• Multiple occurrences of mineralisation at surface a strong indicator of prospectivity

• Core to implement ground-breaking IOCG exploration strategy on Albarta Project

• A new silver and base metal system grading up to up to 203g/t Ag and 13% Pb+Zn in sampling has been discovered on new Yerelina Project (adjacent to Fitton)

Upside leveraged to exploration success

CXO : Corporate Summary

Capital Structure

• Shares on issue 41.8M

• • Options 10.75M

• • Share Price ~$0.13c

• • Market Cap (undiluted) ~$5.5M

• • Cash (30 Sep 2012) $1.9M

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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.