Slide 1: Nickel Sulphide Discovery in Canada
For personal use only “Nickel Sulphide Discovery in Canada” Broker & Investor Presentation, March 2012
Slide 2: Who is Corazon?
Who is Corazon? New high-grade nickel-copper sulphide discovery For personal use only at an old mining district in Canada Junior Explorer ASX : CZN Market cap $13.1M Discovery 23.75 m @ 3.34% Ni, 1.54% Cu, 0.08% Co Analogies with historical mined high-grade 1.9Mt @ 2.5%Ni, 1.15%Cu + Co Exploration T
Slide 3: Key Financial Statistics
Key Financial Statistics Capital Structure Share Price & Volume For personal use only 0.25 9.0 Closing Price (A$) Million Shares Unit Value Daily Volume Traded On-Market Daily Close Price 8.0 Current Price A$ $0.095 0.20 Ordinary shares # 137,891,415 7.0 Options 1 # 71,357,710 6.0 0.15 Market Capita
Slide 4: Lynn Lake – Project Location
Lynn Lake – Project Location Project Highlights For personal use only Manitoba Province Canada’s 3rd largest nickel producing area CZN – largest land holder in region Excellent infrastructure – regional hub - Township - Abundant hydro-electricity and water - Sealed airstrip - Road or rail access to
Slide 5: Lynn Lake – Mining Centre
Lynn Lake – Mining Centre Historical Production For personal use only Sheritt Gordon operation – 1953 to 1976 – 23 yrs Production - 22.2 Mt @ 1% Ni & 0.5% Cu Historical nickel price at <US$2/lb Maximum mining depth to 1,100m below surface Current Resources The “A Plug” Deposits Prophecy Platinum Res
Slide 6: Main Focus – The EL Deposit
Main Focus – The EL Deposit Obvious Exploration Upside South North For personal use only Highest grade deposit at Lynn Lake Truncated Mineralisation Relatively shallow - only mined to 210m in a district with Surface mining depths up to +1,100 metres Mined Near surface - relatively un-drilled with a
Slide 7: Main Focus – The EL Deposit
Main Focus – The EL Deposit Interim Inferred Resource – 0 to 600m depth South North For personal use only Constrained by drilling to date Truncated Mineralisation Predominantly between 210 to 400m depth 14,400t Ni, 7,200t Cu & 396t Co Mined 1.9 Mt @ 2.5% Ni, 1.15% Cu High-Grade Sulphide Breccia Disc
Slide 8: EL Deposit – Exploration Target
EL Deposit – Exploration Target* UPPER ZONE Tonnage Range Drill Defined For personal use only Mineralisation 0 - 200m below surface From To (not included in Historical Workings Low cost opencut mining option 2,200,000 2,600,000 resource) Grade Range Contained Metal Range Metal From To From To Nickel
Slide 9: EL Extensions – Recent Drill Results
EL Extensions – Recent Drill Results XND001 23.50m @ 1.50% Ni & 0.50% Cu For personal use only XND001W1 23.75m @ 3.34% Ni & 1.54% Cu Including XND001W2 13.00m @ 4.27% Ni & 0.89% Cu -700 mbs 23.91 m @ 2.27% Ni & 0.80% Cu CRZ011A 2.3m @ 3.84% Ni & 0.41% Cu Discovery Hole XND001W1 23.75 m @ 3.34% Ni &
Slide 10: EL Extensions – EM Targets
EL Extensions – EM Targets For personal use only EM effective in defining massive sulphide Discovery Hole an “in-hole conductor” 23.75m @ 3.34% Ni & 1.54% Cu Including 13.00m @ 4.27% Ni & 0.89% Cu Subtle “off-hole conductor” includes CRZ012 44.75m @ 1.55%Ni & 0.65%Cu Including:- 3.85m @ 2.83%Ni & 0.
Slide 11: Lynn Lake – A Potential Development Opportunity
Lynn Lake – A Potential Development Opportunity Early Results of Mining Studies For personal use only Grade Enormous value in nickel-copper-cobalt metal combination at Lynn Lake Copper + cobalt may provide credits in excess of CAD$2.00/lb of nickel Historical recoveries +85% for all metals Target de
Slide 12: Lynn Lake – Mining Centre
Lynn Lake – Mining Centre Mine Area Plan View For personal use only North EL Mine 150 Plug EL Mine A Plug Deposits 2000 foot level New High-Grade Discovery Prophecy Tenements Corazon Tenements Mine Area Cross-Section View (looking west) 12
Slide 13: Lynn Lake – Past Mining Studies
Lynn Lake – Past Mining Studies Mining and Processing Key Criteria Item Units Values Underground (all zones) Mine Area Plan View Underground Ore - Production tonnes 10,737,237 Average Mined (diluted) Grades For personal use only Nickel % 0.64 North Copper % 0.35 Cobalt % 0.02 Total Ore Milled tonnes
Slide 14: Lynn Lake – Past Mining Studies
Lynn Lake – Past Mining Studies Mining and Processing Key Criteria Item Units Values For personal use only Underground (all zones) Underground Ore - Production tonnes 10,737,237 Average Mined (diluted) Grades Nickel % 0.64 EL Deposit target grades Copper % 0.35 are much higher Cobalt % 0.02 Total Or
Slide 15: Peer Comparison – First Nickel – Lockerby Project
Peer Comparison – First Nickel – Lockerby Project For personal use only Canadian Company TSX Symbol: FNI Shares Outstanding: 508.2 Million Warrants: 171.6 Million Options: 22.9 Million Fully Diluted: 702.6 Million SharePrice (as of 06/02/2012): $0.14 52 Week High/Low: $0.22 / $0.04 Institutional Own
Slide 16: Peer Comparison – A Similar Australian Deposit
Peer Comparison – A Similar Australian Deposit For personal use only Mined 1.9 Mt @ 2.5% Ni, 1.15% Cu 226 Ni t/vm (mined) Mined Depth 132 Ni t/vm 210 m (mining + reserves) Upper Zone Reserve Interim Inferred Resource 2.2 Mt @ 1.26% Ni 1.8 Mt @ 0.8% Ni, 0.4% Cu, Exploration Target (*) 5.2 to 7.4 Mt @
Slide 17: Forward Work Program
Forward Work Program Upcoming Milestones: For personal use only Ongoing How big is it? Drill Drilling to continue across multiple holes during 2012 Results Exploration Recent drilling results have re-shaped the deposit’s prospectivity Target EM results are important to drilling at depth upgr
Slide 18: Investment Highlights - Summary
Investment Highlights - Summary For personal use only Spectacular new nickel sulphide discovery below historical nickel mine CZN discovery hole: 23.75m @ 3.34% Ni, 1.54% Cu, 0.08% Co Corazon with option to acquire 100% equity in project Excellent infrastructure / strong local mining culture Upgrad
Slide 19: Disclaimers and Important Information
Disclaimers and Important Information Forward Looking Statements For personal use only This presentation has been prepared by Corazon Mining Limited (“Corazon”). It contains forecasts and forward looking statements which are no guarantee of future performance and which involve certain risks. Actual
Slide 20: Disclaimers and Important Information
Disclaimers and Important Information Mineral Resource (continued) For personal use only Assay results are obtained from ALS Mineral Services in Thunder Bay, Ontario, Canada. Samples are prepared using single stage pulverization of the entire sample. Base metal assays are obtained by 4 Acid digestio
Slide 21: Competent Person
For personal use only Competent Person The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Andrew Thompson, B.Sc Hons (Geol), MAusIMM, an employee of Corazon Mining Limited. Mr Thompson has sufficient experience