Annual Technical Report EL 27369 Mount Russell Year 5, 31 December 2013 to 31 January 2015

Abstract

EL 27369 lies 100 km north-east of Alice Springs, and encompasses a portion of the Hale River east of Claraville homestead. The tenement was first granted to Bralich Holdings Pty Ltd and Riding Resources Pty Ltd at the end of 2009. During the reporting period Core Exploration purchased 100% ownership of EL 27369 as part of a transfer of a larger tenement package within the Albarta Region. Core's active work on this tenement began in year 4 of the license as part of the original joint venture agreement. Within EL 27369 Core has undertaken a series of mapping, rock chip sampling and soil sampling programs targeting the areas copper and gold potential. During year 5 of the license Core collected 29 rock chip samples (Appendix 1) and 387 soil samples (Appendix 2) within EL 27369. Core identified an additional two copper prospects bringing the total to six within EL 27369 (Figure 6.1). Core is encouraged by the continued success of its exploration process which has identified numerous previously unknown copper occurrences. The Manny Prospect identified in this reporting period is the highest metal tenor prospect discovered thus far and is worthy of follow up mapping, sampling and possibly prospect scale geophysics. Copper in soil point anomalies greater than 100ppm remain unchecked by follow up mapping within EL 27369.