CORE LITHIUM LTD — Investor Presentation 2012

Jun 13, 2012

Copper and uranium exploration in South Australia

Company update presentation to brokers June 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 into one of the world’s leading copper and uranium mining and exploration provinces.

• Core’s first diamond drilling program intersected low levels of copper mineralisation on the 100%-owned Yorke Peninsula Project (YP), S.A. within zones of IOCG (Iron Oxide Copper Gold) style alteration and in large-scale structural setting

• Core has recently discovered high grade uranium and copper in outcrop on 100% owned Fitton Project , in northern S.A.

• Roxby South Project covers 400km[2] of tenure to be granted 40km south of BHP’s Olympic Dam mine

• Active exploration underway with drilling planned to commence on Fitton Aug/Sep 2012

Tight capital structure with huge-leverage to exploration success

Yorke Peninsula Project - Copper

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

• YP Project 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

• Similar host geology

• Similar age structural and alteration systems

• Large-scale structural setting

• Similar scale magnetic targets

• Similar scale 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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Location of recent diamond drilling in Palace Structural Zone on YP

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Yorke Peninsula - Significant copper drill intersections in first drill program

Drillhole	From (m)	To (m)	Width (m)	Grade Copper (Cu)
WTDD001	226	228	2	0.23%
including	227	228	1	0.45%
WTDD002	147.8	151	3.2	0.07%
including	147.8	150	2.2	0.10%
WTDD002	159	160	1	0.07%
WTDD002	165	166	1	0.26%
WTDD002	181	185	4	0.06%
WTDD002	201	202	1	0.05%
WTDD002	242	245	3	0.13%
including	242	245	2	0.19%
WTDD002	247	250	3	0.09%
including	249	250	1	0.25%
WTDD006	239	241	2	0.06%
WTDD006	250	255	5	0.05%
including	254	255	1	0.17%
WTDD006	259	263	4	0.05%
WTDD006	269	270	1	0.07%
WTDD006	346	349	3	0.16%
including	347	348	1	0.37%
WTDD007	139	141	2	0.07%
WTDD008	195	196	1	0.07%
WTDD008	197	202	5	0.10%
including	199	200	1	0.36%

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Albite dominant (”Red-rock”) alteration and sulphide veining comprising pyrite (iron sulphide) and minor chalcopyrite (copper sulphide) in drill hole WTDD008 at 199m.

(Assays above 500ppm with 100ppm cut-off. Samples were collected from half NQ drill core. A 40g charge of pulverised sample was digested with Aqua Regia. Analysis was undertaken by ICP-MS/ICP-AES)

Wauraltee Prospect - Copper sulphides with IOCG style alteration

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Drill hole positions and geophysical models(Red =
gravity, blue = magnetics) overlain on magnetic image
at Core Exploration’s Wauraltee Prospect, Yorke
Peninsula Project, S.A.
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• Copper sulphides intersected in all 3 holes drilled at Wauraltee Prospect

• Only 350m of the 1,500m length of the Wauraltee geophysical model tested by drilling so far

• Alteration (up to 15m wide) consists of albiteepidote-amphibole-carbonate +/- magnetite, pyrite + chalcopyrite.

• Zones of alteration and mineralisation steeply dipping and same orientation as main Palace Structural Zone (PSZ)

• Opens potential of 12km PSZ to host copper deposits and control IOCG mineralisation

• Similarities to Hillside structural setting within the nearby Pine Point Fault Zone

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 operating uranium plant producing and exporting yellowcake

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9

Fitton Project

High grade copper and uranium in outcrop

• High grade 10.5% Copper and 0.34% U O in recent 3 8

• outcrop samples*

• 2,000m long shear zone mapped in granite

• Uranium levels above 100ppm for over 800m

• Also elevated gold 0.37g/t and 0.91g/t*

• Soils indicate elevated metals in zone up to 1,000 wide

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*refer appendix 1 for table of assays

10

Fitton Project High grade copper and uranium in outcrop

11

Fitton Project

Copper in soils Uranium in Soils

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12

Fitton Project Latest field work – June 2012

• Malachite staining in outcropping portion of shear zone mapped over 100m

• Numerous surface samples taken with copper staining and highly anomalous scintillometer readings (i.e. Copper +/- Uranium)

• Ground mag recently completed and being interpreted

• Drilling scheduled for Q3 2012

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Photo of malachite rich (green copper carbonate secondary mineral) sample that returned a >5% copper value from Scott Lee prospect.

13

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.

14

Forward Exploration Program

• Yorke Peninsula - Prospect scale geophysics and land access underway in preparation for next drilling program

• • Fitton – Ground mags, surface geochem and mapping underway. Drilling planned for Aug/Sep.

• Grant of 400km[2] ELs expected at Roxby South near BHPB’s Olympic Dam and Wirrda Well. Opens option to introduce senior partner

Project 2H 2012 Yorke Peninsula Geophysics/Drilling Geochem/ Fitton Geophysics/Drilling Roxby South Transaction?

Summary

• Copper mineralisation identified in first diamond drill

• program on the Yorke Peninsula in S.A.

• High grade uranium and copper in outcrop at Fitton

• Project, S.A

• Considering options to introduce senior partner on Roxby

• South Project near BHP’s Olympic Dam mine

• Well funded to execute strategy, deliver results and value

• growth in 2012

Huge upside leveraged to copper and uranium

exploration success in S.A.

CXO : Corporate Summary

Capital Structure

• Shares on issue

41.5M

• Options (25c)

8.5M

• Share Price (13/06/2012) ~$0.08 • Market Cap (undiluted) ~$3.3M • Cash (31 Mar 2012) $3.1

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)

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.

Appendix 1 : Fitton rock chip results

Name	Zone	Easting	Northing	Sample	**Cuppm **	**Uppm **	**U3O8ppm **	**Aug/t **
MP0009	54J	365712	6686800	Rock chip	155	51.29	60.48	X
MP0010	54J	365699	6686831	Rock chip	103	624.43	736.33	X
MP0011	54J	365552	6686859	Rock chip	16	83.59	98.57	X
MP0011	54J	365455	6686935	Rock chip	105184	121.37	143.12	0.12
MP00451	54J	366351	6688378	Rock chip	107	2.39	2.82	0.01
MP00459	54J	365842	6687056	Rock chip	16	120.99	142.67	X
MP00467	54J	365306	6686951	Rock chip	200	157.41	185.62	X
MP00473	54J	365336	6686984	Rock chip	33	132.25	155.95	X
MP00474	54J	365442	6686928	Rock chip	963	35.31	41.64	X
MP00476	54J	365458	6686931	Rock chip	>50000	77.44	91.32	0.06
MP00477	54J	365455	6686938	Rock chip	143	5.87	6.92	X
MP00479	54J	365497	6686933	Rock chip	148	3.3	3.89	X
MP00480	54J	365566	6686926	Rock chip	21718	426.96	503.47	0.08
MP00481	54J	365556	6686927	Rock chip	185	15.01	17.70	X
MP00482	54J	365657	6686878	Rock chip	X	2857.83	3369.95	X
MP00486	54J	366737	6686592	Rock chip	234	2.2	2.59	X
MP00492	54J	365857	6686686	Rock chip	571	239.7	282.65	X
MP00493	54J	363551	6685728	Rock chip	680	10.55	12.44	0.91
MP00496	54J	365105	6686983	Rock chip	219	499.34	588.82	0.37
MP00497	54J	365214	6686964	Rock chip	64	62.43	73.62	X
MP00498	54J	365312	6686960	Rock chip	111	268.33	316.41	X
MP00499	54J	365406	6686937	Rock chip	160	37.06	43.70	X
MP00500	54J	365450	6686924	Rock chip	19862	86.5	102.00	0.06
MP00502	54J	365555	6686934	Rock chip	19257	217.06	255.96	0.02
MP00503	54J	365500	6686931	Rock chip	7933	13.71	16.17	X
MP00512	54J	365619	6686903	Rock chip	103	9.93	11.71	X

Table 1: Table of all rock chips samples collected by Core Exploration within EL 4569 with anomalous copper, uranium and/or gold values. When samples contain either Copper > 100ppm or Uranium > 50ppm or 100ppb/gold (From a total sample set of 69 samples). Au: FA25//AA Lead Collection Fire Assay: U: 4A/MS 4 Acid Digest Mass Spectrometry: Cu: 4A/OE 4 Acid Digest Inductively Coupled Plasma Opitical Emission Spectrometry. Of the 69 rock samples collected to date the range of values for copper vary from below detection (1ppm) to 10.5%, uranium varies from 0.4 ppm to 2858 ppm and gold varies from below detection (0.01 ppm to 0.91ppm)