Annual Technical Report Group Reporting GR359 Albarta North Project 1st February 2015 to 31st January 2016 EL's 27369, 28029, 29304, 29667, 29668, 29689 and 30793

Abstract

This is the first Group Reporting of Core Exploration's (CXO) Albarta North Project (GR359) comprising fourteen exploration licences (EL's 27369, 28029, 28546, 28852, 28853, 28854, 29280, 29304, 29667, 29668, 29687, 29688, 29689, 30793) which were held 100% by DBL Blues Pty Ltd a wholly owned subsidiary of Core Exploration Limited. Previously each tenement was reported individually with Bridging Reports lodged to align with the Group Reporting dates in 2014. During 2015, seven of these tenements were surrendered and one was reduced. The project area is dominated by parts of the Aileron and Irindina Provinces as well as the Amadeus Basin. The basement in the area consists of sedimentary and igneous rocks of the Aileron Province of Palaeo-Proterozoic age (1865-1500Ma). The rocks have been metamorphosed to upper green-schist to lower amphibolite facies during the Strangways Orogeny (1740-1690 Ma). In previous years CXO has collected surface geochemistry on a number of tenements, collected IP and VTEM datasets over Mt Riddock and completed RC drilling at Copper Royals and Virginia targeting copper mineralisation. During the 2015 reporting year exploration work on the Albarta North Project has been limited whilst the company focused on its Jervois and South Australian Projects. Work undertaken was limited to desktop studies including detailed magnetic modelling by CSIRO for new target generation. It is anticipated exploration work will recommence on GR359 during 2016 and will likely include soil geochemistry and geological mapping to assess targets identified by the CSIRO study and assist generating new targets. As discussed above, CXO will have a focus on the lithium potential of the Arunta pegmatites.