DART MINING NL — Capital/Financing Update 2012

Mar 20, 2012

==> picture [66 x 74] intentionally omitted <==

ASX ANNOUNCMENT

21 March 2012

UNICORN RESOURCE UPGRADE DRILLING TO COMMENCE 30 MARCH

ASX Code: DTM

• FIRST SYSTEMATIC DRILL TESTING OF SOUTHERN BRECCIA

Investment Data

• LARGE AND INTENSE 3D IP ANOMALY TO BE DRILLED

• SIGNIFICANT JORC COMPLIANT RESOURCE UPDATE EXPECTED Q3 2012

Shares on issue 157.5m Unlisted options 8.35m

Dart Mining NL (ASX:DTM) drilling is scheduled to commence on 30 March 2012 after delays caused by the recent un-seasonal record rainfall in NSW and Victoria.

Shareholders

Top 20 Hold 37 %

Key Projects / Metals

• Unicorn Porphyry Mo-Cu-Ag

• Morgan Porphyry Mo-Ag-Au

• Mountain View Lode – Au

Mo – Molybdenum Cu – Copper Au – Gold Ag – Silver

Board & Management

Chairman

Mr Chris Bain

Managing Director

Mr Lindsay Ward

Executive Director

Mr Dean Turnbull Manager – Exploration

Non-Executive Directors

Mr Stephen Poke Mr Richard Udovenya

Contact Details

Dart Mining NL Level 2 395 Collins Street Melbourne VIC 3000 Australia

Phase 1 reverse circulation (RC) program comprising up to 15 drill holes is designed to close up the spacing between drill holes from surface to 250m of the deposit. This will enable the current JORC Indicated Resource to be upgraded into the Measured category (Figure 1). As part of this program the southern margin of the mineralisation (forming the high wall of any potential future open pit) will be systematically tested for the first time to determine the optimal pit size and allow for a significant increase in Resource tonnes.

“Dart Mining has again worked with Australian Mining Consultants (AMC) to identify the drill holes to enable the JORC compliant Resource upgrade from Indicated to Measured,” said Lindsay Ward Dart Mining Managing Director.

As part of the Resource upgrade drilling, the southern mineralised breccia, sediments and rhyolite surrounding the Unicorn porphyry will be tested. This represents the first systematic drill testing of these zones, made possible with improved drilling access off the main ridgeline (Figure 1). The maiden Resource (Indicated and Inferred) of 105 Mt @ 0.07% MoEq (see ASX release 11 October 2011) does not include any contribution from the mineralisation surrounding the porphyry.

Phase 2 diamond tail drilling is designed to use the Phase 1 RC drill holes as precollars for the planned holes to 450 metres and deeper. This will save costs and time in taking the current Inferred Resource into the Indicated category and to test the deposit at depths of up to 1200 metres.

In addition to the Resource drilling, a significant IP anomaly on the north western slope of the Unicorn deposit will also be tested. 3D Induced Polarisation (3D IP) survey data show intense perimeter chargeability anomalies open at depth within the survey area. This style of anomaly is typical of major mineralised porphyry systems worldwide; indicating peripheral base metal and pyrite are concentrated at the margins of the porphyritic intrusion with the overall shape of the Unicorn anomaly suggesting the intrusion is increasing in size with depth.

The IP anomaly located on the northwest margin of the Unicorn porphyry may indicate another pulse of mineralised porphyry within the Unicorn system showing a copper association and may represent the source of the copper within the adjacent Unicorn deposit. The planned scout drilling will be the first drilling along the western geophysical anomaly and may add considerable further potential to the Unicorn mineralised system.

Mr Lindsay Ward

Phone: +61 (0)3 9621 1299 Email: lward@dartmining.com.au

Visit our webpage: www.dartmining.com.au

“Dart Mining is very pleased to have again secured the services of Techdrill Services Pty Ltd to continue the development drilling of the Unicorn project. The IP anomaly represents a great opportunity to better understand the proven cluster nature of Climax style porphyry’s like Unicorn. In addition to this, moving a significant portion of the Unicorn JORC Resource to Measured status will enable optimisation studies to be undertaken that will hopefully lead to the release of a scoping study later in the year,” said Lindsay Ward.

==> picture [513 x 320] intentionally omitted <==

Figure 1. Conceptual open pit and planned phase 1 RC drilling and phase 2 diamond tail follow up. Composite east-west cross section looking north.

About Dart Mining

Dart Mining NL (ASX:DTM), a Victorian-based exploration company, has discovered a new mineralised porphyry province hosting molybdenum (Mo) + copper (Cu) + silver (Ag) mineralised climax style porphyry igneous intrusive. The Dart Mining mineral province occurs within the Lachlan Fold Belt near Corryong in north east Victoria and is the only known Australian host of Climax style porphyries which are proven hosts of world class mines around the world. The Lachlan Fold Belt and Gilmore suture that cross from NSW into Dart Mining’s tenements in Victoria are proven hosts of substantial porphyry mines including North Parkes, Cadia and Ridgeway in NSW and the Benambra VMS to the south of Dart Mining’s tenements in Victoria.

Dart Mining recently announced its maiden JORC Resource for its principal project Unicorn, which has very strong geological similarities to the world class Henderson primary Mo mine in Colorado, USA. Dart Mining tenements remain largely underexplored and the potential for identifying additional mineralised porphyries is very strong.

About M olybdenum

Molybdenum is both a traditional and new age / future metal with unique characteristics. Its primary use is as an essential metal in the manufacture of steel where it adds strength, hardness and toughness as well as increasing steels resistance to corrosion. Molybdenum also has a range of chemical uses including acting as s a catalyst to remove impurities, including sulphur, during crude oil production. Molybdenum is also used in the paint and plastics industry.

Molybdenum has a growing use in the renewable energy sector where it is used in the manufacture of solar panels and has a potential use as the electrode plate for the separation of hydrogen and oxygen to produce hydrogen energy. Molybdenum is also used in nano technologies to make electrical goods smaller.

Molybdenum is traded on the LME and has worldwide demand of ~ 220,000 tonnes pa that is growing at 5% pa. COMPETENT PERSON’S STATEMENT

Information in this report that relates to a statement of Exploration Results and Mineral Resources of the Company is based on information compiled by Dean Turnbull B.App.Sc.(Geol) Hons. M. AIG. Mr Turnbull is a Director and full time employee of Dart Mining NL and has sufficient experience relevant to the style of mineralisation and type of deposits under consideration and to the activity he has undertaken to qualify as a competent person as defined in the 2004 Edition of the “Australasian Code for Reporting of Mineral Resources and Ore Reserves” (or “JORC Code”). Mr Turnbull has provided written consent to the inclusion in the report of the matters based on his information in the form and context in which it appears