ASX ANNOUNCEMENT ASX: CXO

26th April 2016

New appointments add to Core's lithium skills and expertise

HIGHLIGHTS

• Core has made key appointments to add to its skills and expertise as it focusses on its lithium exploration projects in the NT

• Lithium experts and mining consultants CSA Global retained by Core

• Dr David Rawlings appointed as Exploration Manager to add to its expertise in the NT

• Initial fieldwork underway at the Finniss Lithium Project ‐ Results expected to be received throughout May and June.

• Exploration on the Anningie Lithium Project to commence in coming weeks

Core Exploration Ltd (ASX: CXO) ("Core" or the "Company") is pleased to announce key appointments it has made to add to its skills and expertise as the Company focusses on its Lithium Projects in the Northern Territory.

In line with its new focus on lithium in the NT, Core has recruited NT expert geologist Dr David Rawlings (BSc(hons), PhD) to the team as Exploration Manager. Dr Rawlings has a wealth of expertise in northern and central Australia in a range of commodities throughout a broad exploration career in brownfields and greenfields settings.

To support and supplement the Company's in house skills, Core has also retained the services of CSA Global. CSA Global has a team of highly experienced consultants with substantial experience in the field of industrial minerals exploration, including lithium minerals. CSA Global's consultants bring both practical field skills and theoretical understanding of the exploration and evaluation of lithium‐hosting pegmatites, based on work in Australia (including significant experience within Sons of Gwalia), Africa, Europe and

North America. CSA has experience in all stages of the mining cycle from project generation to production.

Figure 1. Core staff and consultants evaluating and sampling waste dumps Mt Finniss Mine.

Funds from the recent placement are being used to accelerate the lithium evaluation of its NT tenements, where the Company is initially focusing its attention on the Finniss Lithium Project in the Bynoe Pegmatite Field.

The Finniss Lithium Project encompasses a large landholding in the Bynoe Tin Tantalum‐ Pegmatite Field. The Bynoe field is one of the most prospective areas for lithium in the NT and has many similarities to Greenbushes in WA, one of the world's largest spodumene deposits.

The success of the Placement will allow for fieldwork to be expanded across both the Finniss the Anningie Lithium projects in parallel (Figure 2), with the objective of selecting drill targets for the maiden drill program scheduled to commence in Q3 2016.

Figure 2. Core has a dominant position over pegmatite provinces in the NT.

For further information please contact:

Stephen Biggins Managing Director Core Exploration Ltd 08 7324 2987

[email protected]

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.