Ann: Finniss Lithium Project Area Expanded 250%, page-141

Core Exploration Ltd (ASX:CXO) Quarterly Activities and Cashflow Report 31 December 2016
Proposed Activities Next Quarter

Finniss Lithium Project, NT

Core completed its expanded Phase 2 RC drilling program in the days before Christmas 2016. A large number of the assays from this 6,900m drilling program are yet to be received and will be reported over the coming weeks.

Core currently has a diamond rig actively drilling at Finniss. First assay results from this diamond drilling program are expected in March after the core is cut and submitted to the laboratory.

The first results from metallurgical test work on a bulk sample of from Grants are expected in February. Work is currently underway on 400kg of large diameter HQ core at the Nagrom metallurgical facilities in Perth, W.A to determine potential to produce commercial grade spodumene concentrate.

Core is also currently conducting a detailed airborne geophysical survey over the Finniss Lithium Project with data expected to become available in March.

As noted above, once all drill assays are received from the Grants Prospect, Core will consider a Mining Study on the Grants Pegmatite to assess the potential for early development of a DSO spodumene mining project at Grant.

Core will be assessing the incoming results during February and March to prioritise aggressive drilling programs in 2017, including the maiden RC drill testing of large pegmatite targets identified by Core within the Finniss project at Zola and Ringwood.

Core's drilling and field programs will ramp up as the dry season approaches in Q2 2017.

Anningie and Barrow Creek Lithium Project, NT

Once the current focus on is completed at Finniss, Core has the opportunity for active fieldwork at Barrow Creek Project in early 2017 until recommencement of drilling at Finniss in Q2 2017.
Cheers