Core Exploration : Aug 29 2016 - Issue of Placement shares

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

Core Exploration Limited

ABN

80 146 287 809

We (the entity) give ASX the following information.

You must complete the relevant sections (attach sheets if there is not enough space).

Ordinary shares

1 +Class of +securities issued or to be issued

1,086,957

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

   Fully paid ordinary shares (CXO)

2. 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)

   Yes

3. 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

     3.68 cents each

4. Issue price or consideration

   Acquisition of Exploration Licence EL 29698 at the Finniss Lithium Project in the Northern Territory.

5. Purpose of the issue

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

Yes

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

29 October 2015

6b The date the security holder resolution under rule 7.1A was passed

1,086,957

6c Number of +securities issued without security holder approval under rule 7.1

None

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

Not applicable

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

Rule 7.1 - 39,552,330 Rule 7.1A - 27,092,858

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

29 August 2016

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.

8 Number and +class of all

+securities quoted on ASX (including the +securities in section 2 if applicable)

1. Number and +class of all

   +securities not quoted on ASX (including the +securities in section 2 if applicable)

   As per all other securities

2. Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)