CORE LITHIUM LTD — Investor Presentation 2012

Oct 9, 2012

Copper Exploration in Australia’s leading IOCG provinces

Company update October 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.

Investment Overview

• Core Exploration (ASX:CXO) offers an investment opportunity in some of the world’s leading copper and uranium mining and exploration provinces.

• New Albarta Project comprises 16 tenements covering 1,650km[2] over Australia’s new East Arunta IOCG system in the NT

• Discovery of high grade copper and uranium in outcrop on the 100% owned Fitton Project , in northern S.A.

• Maiden diamond drilling program intersected copper on the 100%-owned Yorke Peninsula Project (YP), S.A. in large-scale IOCG setting

• Roxby South Project covers 400km[2] 40km from BHP’s Olympic Dam mine

• Drilling planned to commence this month on Fitton and Albarta in 2013

Tight capital structure with leveraged to exploration success

Albarta in Australia’s new IOCG system

• Core’s Albarta IOCG Project covers 1,650km[2] in Australia’s newly confirmed East Arunta IOCG (Iron Oxide Copper Gold) system in the NT

• The tenements include a number of prospects with high grade copper, gold, uranium, silver and/or REE at surface

• The NTGS (Northern Territory Geological Survey) ground breaking work discovered copper at surface

• Mithril Resources (ASX:MTH) first mover exploration has made further copper discoveries at surface and confirmed copper IOCG mineralisation with drilling

• Core has identified a number of large-scale, regional structures thought to control mineralisation which transect 100km of our new Albarta IOCG tenement package

• Copper (IOCG) mineralisation is associated with structurally controlled fluoriterich, iron-oxide breccias, hosted by Mesoproterozoic granites

Core builds strong position in Australia’s newest IOCG Province

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Figure 1. Core Exploration’s and surrounding tenements and prospect locations, East Arunta IOCG Zone, Northern Territory.
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Strong Position in new IOCG Province

• Core broadens exploration activity with large strategic holding of NT exploration tenements

• 16 mostly contiguous tenements covering 1,600km[2] in a new IOCG province

• Existing mineralisation at surface a strong indicator of prospectivity

• Disparate ownership of tenements has meant that no systematic exploration previously undertaken on tenements for IOCG style targets

• New NT IOCG project compliments Core’s Roxby and Yorke Peninsula SA IOCG strategy

• Exploration to commence in Q4 2012 with Core utilising latest exploration techniques on new tenements.

• Recent success by Mithril at nearby Basil Prospect (151Kt Cu - Inferred Resource of 26.5Mt @ 0.57% Cu) and on Illogwa IOCG Project (Austin Prospect, etc) highlights the potential of the area.

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		25 g/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.

Highly magnetic source rocks underlie Albarta Project

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Regional geological and structural setting along strike from nearby IOCG discoveries

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Project Tenure

• 1,650 km[2] over Australia’s newest IOCG province

• Transaction 1 – farmin and joint venture:

• 5 tenements Arltunga JV – 3 private parties

• Transaction 2 farmin and joint venture :

– 8 tenements Yambla JV – 2 private parties

• Transaction 3 Acquisition 100%:

• 1 Tenement

• 2 EL Applications 100% Core

• 16 Tenements total

Albarta Project Strategy

Core will be exposed to the upside from:

• CXO exploration success

• Industry and market recognition of a new, outcropping IOCG terrain

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

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

Core can accelerate exploration and earn-in at any time and has right to buy-out 100%.

Fitton Project : Copper/Uranium in northern South Australia

• Mines and large deposits within the region:

• Beverley Uranium Mine

• Four Mile

• Mt Gee

• Proven world-class uranium mining district

• High grade copper and uranium at surface

• Only 25km from uranium plant producing and exporting yellowcake

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Fitton Project

• Up to 10.5% copper and 0.34% U3O8 at Scott Lee Prospect

• Up to 4% copper, 1g/t gold and 20g/t silver at Choppy Prospect

• Also 3 very similar magnetic targets and 1 much larger magnetic target

• RC drilling on all targets to commence at Fitton Oct 2012

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Fitton Project Scott Lee and Choppy Prospects

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Fitton Project Scott Lee and Choppy Prospects

• Scott Lee

• High grade up to 10.5% Copper and 0.34% U3O8 in recent outcrop samples*

• Hosted in magnetic shear zone in granite

• Uranium levels above 100ppm for over 800m

• 3 phases of sampling and mapping so far

• Choppy

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• High grade up to 4% copper in recent outcrop samples*

• Hosted in magnetic shear zone in granite

• Gold up grading up to 1g/t and silver up to 20g/t

• 1 phase of sampling and mapping so far

• refer ASX Announcement 28/8/2012 for detail. The presence of surface

mineralisation may or may not extend at depth and can only be confirmed by drilling.

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Fitton Project Yerelina EL - Silver Lead Zinc

Historic Target	Gold	**Silver **	Copper	Lead	Zinc	Pb+Zn
**Great Gladstone **	0.02 g/t	203g/t	0.2%	5.0%	2.3%	7.30%
Emily	0.01 g/t	12.1 g/t	0.3%	0.9%	12.4%	13.34%
Big Hill	0.01 g/t	5.9 g/t	0.0%	1.7%	0.6%	2.35%

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

• Recently granted tenement

• Adjacent to Fitton Project

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

• • Multiple targets

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Fitton Project - Yerelina EL Ag/Pb/Zn

• Repeated set of highly mineralised faults/targets

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Yorke Peninsula Project - Copper

• Covers 243km[2] in analogous geological setting adjacent to Rex Minerals’ (RXM) Hillside tenements

• Located within Olympic IOCG province (e.g. Olympic Dam, Prominent Hill, Carrapateena, Hillside)

• Core’s first diamond drill program has hit low levels of copper mineralisation associated with IOCG-style mineralisation

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Core’s Yorke Peninsula Project Similarities to Hillside

• Same host geology

• Same age structural and alteration systems

• Large-scale structural setting

• Similar scale magnetic and gravity targets

• IOCG style alteration

• Vein and shear hosted copper mineralisation

• Low levels of copper mineralisation identified in the early stages of drilling

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Roxby Downs Project, S.A. - IOCGU

• Two tenements covering over 400km[2 ] in the core of the Olympic Dam / Carrapateena IOCGU Zone

• Project located 40km south of Olympic Dam and within 10km of BHPB’s Wirrda Well and other IOCGU prospects

• A number of drill targets with strong geophysical features have been defined

• Drill targets on the highly prospective northern section of the Roxby Downs tenement cover part of the same gravity feature as BHP’s Acropolis and Olympic Dam

• Copper sulphide bearing breccias have been drilled within 3km of one of the drill targets on the southern tenement.

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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.
Fitton	RC Drilling		Drilling*
Yerelina	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 from drilling which commences later this month on Fitton Project in S.A.

• Core has previously discovered high grade copper (+/-U, Ag, Au) in outcrop at Fitton Project and up to 203g/t Ag and 13% Pb+Zn in sampling on adjacent new Yerelina EL

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

• Core has rights to 16 tenements covering close to 1,600km2 in a new IOCG terrain

• Multiple occurrences mineralisation at surface a strong indicator of prospectivity

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

• Copper mineralisation identified in first diamond drill program on the Yorke Peninsula, S.A.

• Options to introduce senior partner on Roxby South Project near BHP’s Olympic Dam,

• S.A.

Upside leveraged to copper exploration success

CXO : Corporate Summary

Capital Structure

• Shares on issue 41.5M

• • Options (25c) 8.5M

• • Share Price ~$0.08c

• • Market Cap (undiluted) ~$3.3M

• • Cash (30 June 2012) $2.2M

Board and Management

Stephen Biggins Managing Director MBA, BSc (Hons) Geol, MAusIMM (ex SAU, & IVR(SNU)) Greg English Non-Executive Chairman BE (Hons) Mining, LLB (AXE, ex-EXR(GRL)) Michael Schwarz Exploration Director BSc (Hons) Geology, AIG (ex MOX)

For further information please contact: Mr Stephen Biggins Managing Director Core Exploration Limited Tel: 08 7324 2987 admin@coreexploration.com.au

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.