CORE LITHIUM LTD — Investor Presentation 2017

Feb 21, 2017

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FINNISS LITHIUM PROJECT RIU Conference and Investor Briefings Perth Feb 2017

ASX code: CXO

DISCLAIMER

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| LITHIUM | Feb 2017 | Core Exploration Ltd

WHY INVEST IN CXO

• Multiple Thick High Grade Spodumene intersections from a number of prospects in 2016 drilling confirms Finniss Lithium Project near Darwin as a significant new lithium discovery

• $8M cash, no debt - well funded to fast-track early stage development

• Core owns 100% the largest lithium tenure in the NT including, the highest grade intersections, largest pegmatite mine and largest spodumene pegmatite target

• Finniss has the grade, potential scale and infrastructure to compare with the best lithium projects under development

• Potentially the best logistics chain to China of any Australian Lithium Project

• CXO Market Cap of ~$32M (EV$24M) with significant upside as Finniss Lithium Project advances

• Napperby Uranium Deposit Recently Secured by Core

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| LITHIUM | Feb 2017 | Core Exploration Ltd

FINNISS 2016 LITHIUM DRILLING RESULTS

• Core’s first drill program at the Finniss Lithium Project in NT has hit multiple broad zones of high grade lithium at a number of prospects confirming Finniss Project as a major new lithium .

• discovery

• Recent RC drill results from Finniss are comparable to some of the best in the world and include:

• 38m @ 1.49% Li2O from 71m (FRC003) at BP33, including: Also 2016 diamond drill results at Finniss include: 7m @ 2.02 % Li2O from 79m 42m @ 1.53% Li2O 2O O from 58m (FRCD001) at Grants, including:

Also 2016 diamond drill results at Finniss include: 42m @ 1.53% Li2O 2O O from 58m (FRCD001) at Grants, including: 7m @ 2.02 Li2O from 64m

49m @ 1.78% Li2O from 71m (FRC006) at Grants, including: 9m@ 2.05% Li2O from 110m 40m @ 1.66% Li2O from 58m (FRC0018) at Grants, including: 10m @ 2.02% Li2O from 65m 45m @ 1.57% Li2O from 62m (FRC030) at Far West, including: 8m @ 2.48% Li2O from 88m 59m @ 1.45% Li2O from 79m (FRC031) at Grants, including : 3m @ 2.12% Li2O from 86m 55m @ 1.42% Li2O from 66m (FRC033) at Grants, including : 4m @ 2.18% Li2O from 93m 42m @ 1.60 % Li2O from 130m (FRC037)at Grants, including : including 6m @ 2.14% Li2O

39m @ 1.55% Li2O from 69m (FRCD002) at Grants, including: 5m @ 2.29 Li2O from 70m

48m @ 1.53% Li2O from 70m (FRCD003) at Grants, including: 10m @ 2.03 Li2O from 106m 34m @ 1.47% Li2O from 85m (FRCD004) at BP33, including: 4m @ 2.10 Li2O from 94m

53m @ 1.59% Li2O from 136m (FRC038) at Grants, including : including 6m @ 2.00% Li2O

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| LITHIUM | Feb 2017 | Core Exploration Ltd

COMPANY INFORMATION

Share price

Shares

Price A$ (21/02/2016) $0.086 Shares on issue ~374M Options ~114M Market cap (undil.) ~$32M Cash (31/12/2016) ~$8.3M EV ~$24M Liquidity (1Yr avg) ~9M shares/day

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Management

Stephen Biggins – Managing Director ex SAU, IVR

Greg English – Chairman AXE, LCK

Heath Hellewell – Non-executive Director CMM, DKM, ex DRM

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| LITHIUM | Feb 2017 | Core Exploration Ltd

ASX LITHIUM SECTOR COMPARATIVE MARKET CAP

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| LITHIUM | Feb 2017 | Core Exploration Ltd

CXO DOMINANT POSITION IN NT PEGMATITES Core has strong position in major Pegmatite Provinces in the NT:

Finniss

Building on Core’s expertise and experience in the NT, Core has identified and moved early to position the Company in pegmatite fields highly prospective for lithium

Core’s tenure covers over 3,000km[2] focussed in and around pegmatite fields with a long history of tin tantalum production in the NT

Core’s NT Lithium Projects are only a short trucking distance by sealed road or directly by rail to the multi-user port facility at Darwin Port - Australia’s nearest port to Asia

Barrow Creek Anningie Harts Range

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FINNISS LITHIUM PROJECT : Dominant Tenure with large-scale upside

Core’s dominant position in the Bynoe pegmatite field at the Finniss Lithium Project includes:

• ~400km[2] of granted tenure

• High Grade Spodumene drill intersections at multiple prospects in first drill program

• Mt Finniss mine - the largest pegmatite in the NT

• 25 other historic pegmatite mines within the Finniss Lithium Project

• 1,000m x 450m wide Zola Pegmatite Prospect

• Other additional new large pegmatite targets of equivalent scale to those in WA are being identified, such as Ringwood

• Easy trucking distance by sealed road to Port

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| LITHIUM | Feb 2017 | Core Exploration Ltd

HIGH GRADE SPODUMENE AT GRANTS OVER 300M LONG, 200M DEEP AND UP TO 30M WIDE

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DIAMOND CORE DRILLING AT FIRST TWO PROSPECTS REVEALS HIGH QUALITY, COARSE GRAIN SPODUMENE

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DIAMOND CORE DRILLING AT FIRST TWO PROSPECTS REVEALS HIGH QUALITY, COARSE GRAIN SPODUMENE

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| LITHIUM | Feb 2017 | Core Exploration Ltd

2016 RC REGIONAL DRILLING COMPLETED

• Phase 2 RC drill program completed to test a range of pegmatite exploration targets at Finniss Lithium Project in late 2016

• Drilling to date has been restricted to the first granted licence EL 29698 (Core’s first granted EL at Finniss)

• Drill approvals are in now in place to drill the large Zola and Ringwood pegmatites on Core’s subsequently granted ELs in Q2 2017

• 2017 drill programs to start and lithium exploration to ramp up in Q2 2017

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| LITHIUM | Feb 2017 | Core Exploration Ltd 12

1[st] PROSPECT DRILLED BY CORE IN THE NT : HIGH GRADE LITHIUM DISCOVERY AT BP33

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| LITHIUM | Feb 2017 | Core Exploration Ltd 13

• FINNISS PHASE 2 RC EXPLORATION DRILLING : NEW BROAD PEGMATITE INTERSECTIONS

• Phase 2 RC identified a number of spodumene pegmatites on EL 29698 in 2016

• 6 of 7 pegmatites (almost all) were mineralised with lithium

• 12m @ 1.22% Li2O from 67m including 2m @ 1.94% Li2O from 73m at the recently discovered Ahoy East Prospect

• Broad pegmatite intersections of 45m @ 1.57% Li2O at Far West Prospect (but true width typically 5-15m)

• 1,500m long strike length at Far West represents significant volume of pegmatite

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Far West North
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| LITHIUM | Feb 2017 | Core Exploration Ltd

Core’s work is discovering pegmatites comparable in scale to those at Pilgangoora. Example 1 : Zola Prospect

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Core’s work is discovering pegmatites comparable in scale to Pilgangoora. Example 2 : Ringwood Prospect

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FINNISS NT v GREENBUSHES WA

Characteristics	Greenbushes	Finniss
Tin production started in the 1880’s		
Early production from alluvials and then from primary pegmatites		
Tantalum production started in the mid 1900’s		
Large Scale Pegmatites		
Weathered near surface		
Systematic exploration for lithium		CXO 2016
High grade lithium discovered after ~100 years of mining		CXO 2016
Large-Scale, High-Grade Spodumene Resources		CXO 2017 ?

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| LITHIUM | Feb 2017 | Core Exploration Ltd

FINNISS LITHIUM PROJECT NT Spodumence Concentrate Test Work Underway

• 400kg bulk sample from Grants at Nagrom to produce commercial +6% concentrates

• Lithium-rich Pegmatites at Finniss are made up of Spodumene, Quartz and Feldspar that account for more than 90% of the rock

• +99% of lithium comes from Spodumene (not from other low value lithium minerals)

• Good Spodumene Liberation

• Early indications are that the lithium rich pegmatites at Finniss have potential to produce high quality spodumene concentrates

• Spodumene Concentrate results in next few weeks

• | LITHIUM | Feb 2017 | Core Exploration Ltd

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Mineral Name
Background
Spodumene
Quartz
Albite
K-feldspar
Micas
Al-silicates (beryl or similar)
Al-silicates (clays and similar)
Mn minerals
Apatite
Fe-oxides/hydroxides
Other minerals
Cracks
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FINNISS LITHIUM PROJECT NT Substantial Infrastructure Advantages

• Core’s Finniss Lithium Project has substantial infrastructure advantages

• Potentially best logistics chain to China of any Australian Lithium Project

• Project is close to grid power, gas and rail infrastructure and within easy trucking distance by sealed road to Heavy Industrial Park and multi-user Port facilities at Darwin Port

• Darwin Port is Australia’s nearest port to Asia

• Darwin Port has spare capacity with immediate availability to bulk material and container storage and loading faculties

• Robust Project Economics support longterm lithium supply into 2020’s

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| LITHIUM | Feb 2017 | Core Exploration Ltd

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BARROW CREEK AND ANNINGIE PEGMATITES EXPANDS NT LITHIUM FOCUS

Core has Recently Acquired Large Granted Tenement Prospective for Lithium in Northern Arunta Pegmatite Province in NT

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• Barrow Creek is an early-stage look-alike to Core’s Finniss Lithium Project with a long history of tin and tantalum production, similar to Core’s Finniss Lithium Project (and Greenbushes)

• Lithium contents of the source granites for the Barrow Creek Pegmatite Field are comparable to those at Finniss

• Acquisition complements Core’s surrounding 2,500km[2] of recently granted tenements in the Barrow Creek and Anningie Pegmatite Fields

• 13 potential Tin Tantalum Pegmatite targets identified to date at Barrow Creek

• Barrow Creek has rail connection that links direct to Darwin Port with potential for Darwin to become central processing and transport hub for NT spodumene production

• Year round access for field work (starting in March)

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| LITHIUM | Feb 2017 | Core Exploration Ltd

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NAPPERBY URANIUM PROJECT

Core Secures Advanced NT Uranium Project

• Napperby is an advanced uranium project with metallurgical and scoping studies completed (refer ASX 15/02/2017)

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• Only half of the historic mineralised area has been drilled out – obvious upside

• Core also inherits excellent project data that includes 1,117 drillholes and gamma, PFN, assay disequilibrium data

• Core’s uranium portfolio also includes:

• Fitton - 60m @ 487ppm U3O8

• Yambla – spectacular uranium grades

• No slow down on Finniss, but aim to convert existing JORC 2004 Resource at Napperby to JORC 2012 in the near term

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| LITHIUM | Feb 2017 | Core Exploration Ltd

WHY INVEST IN CXO

• Multiple Thick High Grade Spodumene intersections from a number of prospects in 2016 drilling confirms Finniss Lithium Project near Darwin as a significant new lithium discovery

• $8M cash, no debt - well funded to fast-track early stage development

• Core owns 100% the largest lithium tenure in the NT including, the highest grade intersections, largest pegmatite mine and largest spodumene pegmatite target

• Finniss has the grade, potential scale and infrastructure to compare with the best lithium projects under development

• Potentially best logistics chain to China of any Australian Lithium Project

• CXO Market Cap of ~$32M (EV$24M), significant upside as Finniss Lithium Project advances

• Napperby Uranium Resource Recently Secured by Core

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| LITHIUM | Feb 2017 | Core Exploration Ltd

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The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Stephen Biggins (BSc(Hons)Geol, MBA) as Managing Director of Core Exploration Ltd 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. He has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Biggins consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The report includes results that have previously been released under JORC 2012 by Core as follows. The report also includes information that was reported in announcements previously released by Core under JORC Code 2004 on 13/05/2012 titled “Thick and High Grade Uranium Intersections, Fitton Project, SA” .The Company is not aware of any new information that materially affects the information included in this announcement.

21/02/2017	Wide High Grade Intersections at Finniss
15/02/2017	Core Secures Napperby Uranium Resource
07/02/2017	Lithium Mineralisation intersected at Ahoy, Ahoy East and Far West Prospects
02/02/2017	Finniss Lithium Project Expanded 250%
30/01/2017	Continuous High Grade Spodumene in Phase 2 RC Drilling
16/01/2017	Drilling Recommences and RC Assays due Shortly at Finniss
10/01/2017	CXO, KSN, LTR Commence Joint Bynoe Geophysical Survey
14/12/2016	Core Acquires Large Tenement Prospective for Lithium
13/12/2016	High Grade Lithium Intersections at Far West Prospect
7/12/2016	High Grade Lithium Assays from Maiden Diamond Drilling
24/11/2016	Thick High Grade Spodumene in All Diamond Core at Finniss
25/10/2016	High Quality Spodumene in First Drill Core at Finniss
20/10/2016	Further High Grade Lithium Intersections at Finniss
18/10/2016	New Large-Scale Pegmatite Targets Discovered at Finniss
3/10/2016	Highest Grade Spodumene Intersections Ever Drilled in the NT
23/09/2016	High Grade Spodumene Confirms Significant Lithium Discovery

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| LITHIUM | Feb 2017 | Core Exploration Ltd

ASX code: CXO