Dec 20 2016 - Appendix 3B - Lithium Tenement Purchase Shares

Name of entity

Core Exploration Limited

ABN

80 146 287 809

1

+Class of +securities issued or to be issued

Ordinary shares (CXO)

2

Number of +securities issued or to be issued (if known) or maximum number which may

be issued

1,000,000

3

Principal terms of the

+securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if

+convertible securities, the conversion price and dates for conversion)

Fully paid ordinary shares

4

Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?

If the additional +securities do not rank equally, please state:

• the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

No. The shares are subject to a voluntary escrow agreement for a period of 6 months from the date of issue. The shares will rank equally with all other CXO shares on issue from 20 June 2017.

5

Issue price or consideration

Nil

6

Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

Part consideration for acquisition of Exploration Licence EL 31058.

6a

Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

Yes

6b

The date the security holder resolution under rule 7.1A was passed

30 November 2016

6c

Number of +securities issued without security holder approval

under rule 7.1

1,000,000

6d

Number of +securities issued with security holder approval under rule 7.1A

None

6e

Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

None

6f

Number of +securities issued under an exception in rule 7.2

None

6g

If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the

+issue date and both values. Include the source of the VWAP calculation.

Not applicable

6h

If +securities were issued under rule 7.1A for non-cash

consideration, state date on which valuation of consideration was released to ASX Market Announcements

Not applicable

6i

Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

Rule 7.1 - 55,025,598 Rule 7.1A - 37,350,399

7

+Issue dates

Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.

Cross reference: item 33 of Appendix 3B.

19 December 2016

Number

+Class

373,503,991

1,000,000

374,503,991

114,772,959

Ordinary shares

Ordinary shares subject to voluntary escrow to 19 June 2017.

Total quoted ordinary shares

Options exercisable at 5.00 cents on or before 31 August 2017

11

Is security holder approval required?

12

Is the issue renounceable or non- renounceable?

13

Ratio in which the +securities will be offered

14

+Class of +securities to which the offer relates

15

+Record date to determine entitlements