DART MINING NL — AGM Information 2014

Nov 19, 2014

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DART MINING NL
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Post AGM Panel Discussion

20 November 2014

Disclaimer

This document is intended to provide general information only. It is not a disclosure document under the Corporations Act. It is not intended that this presentation should be relied upon in order to make an investment decision in relation to Dart Mining NL. Neither Dart Mining NL, nor any of its Directors, guarantee the performance or a return of capital to shareholders. Investors should make their own enquiries in relation to Dart Mining NL prior to investing and seek independent financial and legal advice.

DTM AGM Panel Discussion: 20 November 2014

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Outline

• Background 2013 / 14

• Metallurgy

• Assets

• Strategy

• Risk Management

• Strategy Implementation

• Development - Unicorn

• Investment

• Exploration

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2013

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Exploration
prospect Shareholders
Text here
New Ballarat Board and
management
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Assets 2014

Very loyal Highly prospective Exploration prospect dedicated Lachlan Fold Copper Quarry shareholders - Belt tenements Owners Project - Unicorn Unicorn Mo, Cu, Ag, Cash Metallurgy Zn, Au Unicorn Henderson Exploration prospect Gentle Annie Committed Climax Model Board and Dart IP - R&D management

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Corporate Strategy

Maximise Shareholder Value

Add value to existing assets

Expand asset base

Effective Gain utilisation of recognition in cash the market available place

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Portfolio Investment Approach

Strategy Implementation

Development Unicorn PFS

Investment JV, IPO, leveraged opportunity including acceleration of existing assets

Exploration aggressive regional copper porphyry, base and precious metals exploration

DTM AGM Panel Discussion: 20 November 2014

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Dart Strategy – Risk Management

Dart considers risk measurement, analysis and management to be

• an integral part of maximising shareholder value

• not just avoiding harm

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Overview Of Risk Management At Dart

• Focus on performance not just compliance

• Quality not quantity

• Deep analysis of most significant risks

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Annualized risk value

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Example 1

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CAUSAL GROUPS RISK EVENT OUTCOME GROUPS
Prevention Mitigation
Control Control
Framework Framework
At office or
Minor injury
home
Injury to staff,
Travelling contractor or Major injury
public
At sites Fatality
Likelihood
Consequence
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OUTCOME GROUPS

Example 2

CAUSAL GROUPS

RISK EVENT

OUTCOME GROUPS

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Prevention Mitigation
Control Control
Physical Framework Framework Work
Damage Reorganisation
Equipment Specific
Failure IT System Activity Issues
Disruption
Supplier Widespread
Failure Activity Issues
Security Data
Breach Unrecoverable
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Likelihood Consequence

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Example 3

CAUSAL GROUPS

RISK EVENT

OUTCOME GROUPS

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Prevention Mitigation
Control Control
Framework Framework
Opportunistic Quick
Offer Rejection
Rejection After
Takeover At
Long Term Battle
Less Than Full
Strategic Offer
Value
Completion At
Low Value
Bidders’
Needs Based
Offer
Completion At
Full Value
Likelihood Consequence
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Portfolio Investment Approach

Strategy Implementation

Development Unicorn PFS

Investment Exploration JV, IPO, leveraged aggressive regional opportunity including copper porphyry, base acceleration of existing and precious metals assets exploration

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Development - Unicorn Deposit Overview

• USA Climax-Henderson style Porphyry Cu-Mo-Ag

• Extensive mineralisation zone from surface to greater than 400 m depth

• Comprises a JORC (2004) Resource of 203 million tonnes of Cu-Mo-Ag

• Only 20 km from electricity, water, workforce, with existing road access and logistics connections from mine to market

• Strong local community and government support

• Issue has been metallurgy

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Metallurgy is key

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2013 – 14 Differentiator

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Metallurgical Challenges/Opportunities

From a metallurgical point of view - Unicorn is at least 4 deposit types in one!

• Fresh quartz cap and porphyry zones - molybdenum (Mo) & copper (Cu), negligible zinc (Zn)

• Fresh brecciated sediment and igneous zones - molybdenum & copper, negligible zinc

• Fresh brecciated sediment and igneous zones - molybdenum, copper & significant zinc

• Oxide zones - significant molybdenum & copper

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Metallurgical Challenges/Opportunities

• Previous tests focussed on combining all fresh deposit types – made optimum results difficult

• Excellent Mo concentrates from all fresh zones, but challenged by Cu-Zn variability

• Conventional Mo-Cu flotation processes (e.g. Chile) for deposit types 1 & 2

• Hellyer type Cu-Zn separation processes adapted for type 3 after Mo flotation

• Mo & Cu products can be produced from oxide by adapting a Climax Molybdenum process (10 – 15% additional value)

DTM AGM Panel Discussion: 20 November 2014

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Flotation test on sample at AMML laboratory

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Simplified Plant Process – Copper Flotation Example Recirculating loads in a process plant optimise concentrate grades and recoveries

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Feed Grind Rougher Rghr Tail to
Pb or Zn Cleaner tail
circuit to rougher
feed
R/G
Cleaner
Cleaner
Scav
Recleaner
Recleaner tail
to cleaner feed
Final Conc
DTM AGM Panel Discussion: 20 November 2014
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Flotation product

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Development -Unicorn Deposit Project –Timeline

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DTM AGM Panel Discussion: 20 November 2014

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Development - Unicorn Deposit Mine Planning

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in-pit crushing, twin raise-bore waste and ore passes, to adit & decline conveyor transport to plant.

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Development - Unicorn Deposit Mine Planning

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Development - Resource Drilling

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The infill drilling programme of up to 70 drill holes is to data for a designed provide resource re-estimation by Q2 2015, allowing refinement of Pre-Feasibility level Mine Design and Scheduling activities. This first phase of the drill program comprises up to 4,000m of RC drilling and minor diamond tail extensions in the deeper sections of the deposit and will be followed early in 2015 by a second phase of 6,000m • Some 1000m RC completed to date

• New drill track work (blue track opposite) provides access to the NW portion of the resource

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DTM AGM Panel Discussion: 20 November 2014

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Development – Funding

• The Unicorn Project PFS is continuing. Unicorn could become Victoria’s largest base metals mining project

• So as to progress this, along with the many other prospects identified to date, Dart needs access to a significant injection of debt and/or equity funding

• All debt and/or equity funding options are ‘in play’

DTM AGM Panel Discussion: 20 November 2014

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Molybdenum Supply/Demand Outlook

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Copper Consumption/Demand Growth

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Copper Grade/Supply Decline

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Portfolio Investment Approach

Strategy Implementation

Development Unicorn PFS

Investment JV, IPO, leveraged opportunity including acceleration of existing assets

Exploration aggressive regional copper porphyry, base and precious metals exploration

DTM AGM Panel Discussion: 20 November 2014

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Investment - Monetisation

• Short duration to production, shallow, and mainly gold prospects or potential projects

• As such, the options to best monetise the Fairley’s gold prospect, Onslow Reefs gold, Onslow South gold, and Mountain View gold are currently being considered

DTM AGM Panel Discussion: 20 November 2014

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Regional Gold Targets

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DTM AGM Panel Discussion: 20 November 2014

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Investment – Fairley’s (Disseminated Gold)

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• 2014 Soil Program

• Parallel Lines and Strike Extensions

• Further Historic Workings

• Better Structural Understanding

• Further Soil Lines Planned

• 1000m RC Drilling Program

• Target Fairley’s Line

• 20 RC holes on 4 sections

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Investment – Onslow Reefs (Lode Gold)

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• 2014 Soil Program

• Multiple Large As Anomalies

• At Least Two Lode Orientations

• Further Historic Workings

• Onslow South Shows Dyke Association (open As anomaly)

• 250m RC Drilling Program

• Target Main Onslow Reefs

• 4 RC holes on 2 sections

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DTM AGM Panel Discussion: 20 November 2014

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Portfolio Investment Approach

Strategy Implementation

Development Unicorn PFS

Investment JV, IPO, leveraged opportunity including acceleration of existing assets

Exploration aggressive regional copper porphyry, base and precious metals exploration

DTM AGM Panel Discussion: 20 November 2014

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Exciting range of Prospect ‘Riches’

• Dart has significant access to the most unexplored , most exciting base metal province (including Porphyry Copper mineralisation potential) within the Lachlan Fold Belt in Australia

• Dart has developed by Research & Development (R&D) , a USA Climax-Henderson Porphyry Molybdenum model from detailed investigation and analysis of the Unicorn Deposit to assist in the targeting and location of like porphyry mineralisation occurrences within its tenements in the region.

• This approach has delivered a range of exciting porphyry copper, molybdenum, Silver, Zinc, and gold prospects and deposits throughout the region

DTM AGM Panel Discussion: 20 November 2014

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The Lachlan Fold Belt

• Lachlan Fold Belt and structural correlates

• Reflecting south to north, Plate Tectonics Subduction Zone

• Inducing Mountain Range ‘Spine’ along the entire eastern coast of Australia.

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Bendigo Au Ballarat Au Stawell Au King Island W Rosebery Cu/Ag/Zn Zeehan Ag/Zn Queenstown Cu/Au

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Kidston Au/Ag
Charters Towers Au
Mt Morgan Au/Cu
Gympie Au
Cobar Cu/Au
Endeavour Ag/Pb/Zn
Cadia Cu/Au
Woodlawn Cu/Ag/Zn/Au
Captains Flat Cu/Ag/Zn/Au
UNICORN Mo/Cu/Ag/Zn
Benambra/Stockman Cu/Zn
Walhalla Au
Beaconsfield Au
Port Davey Sn
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The EXCITING Potential of Dart’s NE Victoria Assets Base is recognised by:

• The numerous past and present PRODUCERS spread along the length of LFB and its structural correlates

• DSDBI and GSV via recent ‘New Perspectives’ Workshop deep seismic based re-interpretation of the OROCLINAL folding of LFB;

• The UNDER-EXPLORED nature of the province due to its precipitous terrain; and

• The Minister, in recently APPROVING the ‘neighbouring’ Stockman base metal project; and

renders it currently the MOST PROSPECTIVE porphyry, base & precious metal province, certainly within Victoria, and probably in Australia

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Portfolio Investment Approach

Strategy Implementation

Development Unicorn PFS

Investment JV, IPO, leveraged opportunity including acceleration of existing assets

Exploration aggressive regional copper porphyry, base and precious metals exploration

DTM AGM Panel Discussion: 20 November 2014

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Regional Exploration Programs

REGIONAL SOIL GEOCHEMISTRY

• PORPHYRY TARGETS

• Copper Quarry

• Gentle Annie

• Scorodite Ridge

• Donovan’s

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DTM AGM Panel Discussion: 20 November 2014

Exploration – Copper Quarry (Porphyry Copper)

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• 2014 Soil / Mapping Program

• Large Dyke Associated Cu Anomaly

• Variable Composition Porphyry Dykes at Surface

• Sheeted Vein Sets Show Sulphide Mineralisation

• 500m RC Drilling Program

• Target Concealed Porphyry

• 2 RC holes on 2 sections

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Exploration – Gentle Annie (Mo-Cu-Au Porphyry Related)

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• 2014 Soil Program

• Large coincident Cu / Mo Anomaly

• Classic Zoned Metal Distribution – Distal Zn

• Magnetics suggests burried intrusive centre or centres

• 400m RC Drilling Program

• Target Concealed Porphyry

• 2 RC holes planned

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DTM AGM Panel Discussion: 20 November 2014

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Maximise Shareholder Value

Strategy

Development Unicorn PFS

Investment Exploration JV, IPO, leveraged aggressive regional opportunity including copper porphyry, base acceleration of existing and precious metals assets exploration

DTM AGM Panel Discussion: 20 November 2014

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Bendigo Au Ballarat Au Stawell Au King Island W Rosebery Cu/Ag/Zn Zeehan Ag/Zn Queenstown Cu/Au

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Kidston Au/Ag
Charters Towers Au
Mt Morgan Au/Cu
Gympie Au
Cobar Cu/Au
Endeavour Ag/Pb/Zn
Cadia Cu/Au
Woodlawn Cu/Ag/Zn/Au
Captains Flat Cu/Ag/Zn/Au
UNICORN Mo/Cu/Ag/Zn
Benambra/Stockman Cu/Zn
Walhalla Au
Beaconsfield Au
Port Davey Sn
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Close

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Colin Seaborn

DTM AGM Panel Discussion: 20 November 2014

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Flotation test on sample at AMML laboratory

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DTM AGM Panel Discussion: 20 November 2014

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Simplified Plant Process – Copper Flotation Example Recirculating loads in a process plant optimise concentrate grades and recoveries

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----- Start of picture text -----

Feed Grind Rougher Rghr Tail to
Pb or Zn Cleaner tail
circuit to rougher
feed
R/G
Cleaner
Cleaner
Scav
Recleaner
Recleaner tail
to cleaner feed
Final Conc
DTM AGM Panel Discussion: 20 November 2014
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Flotation product

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Banks of Flotation Cells

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Overview of Processing Flow sheet – Fresh

Crush & Grind Ore

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Mo Flotation ~ 50% Mo incl. Rhenium

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Cu Flotation ~ ~ 25% Cu incl. Ag, Au(?)

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Pyrite used later in oxide process (Ag & Au extracted?)

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Pyrite Concentrate to storage

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Zn Flotation (if significant) ~ 52% Zn

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Overview of Processing Flow sheet – Oxide with small proportion of Fresh

Crush & Grind Ore

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Mo Flotation ~ 50% Mo incl. Rhenium

Cu Flotation ~ ~ 25% Cu incl. Ag, Au(?)

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Oxide processed to Mo & Cu products – using pyrite from storage

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Oxide reclaimed & upgraded (?) from TSF

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Flotation Tails to discrete part of tailings storage facility (TSF)

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