DART MINING NL — Capital/Financing Update 2020

Nov 15, 2020

ASX Release

16 November 2020

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Drilling Commencement Historic Rushworth Goldfield, Central Victoria

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ASX Code: DTM

Key Prospects / Commodities:

• 100% Dart owned Exploration Lease (EL) at the historic Rushworth Goldfield

• Percussion drilling to test gold mineralisation model at Phoenix Hill – Chinaman’s Gully

• Up to 40 holes planned to assess lode-style bulk-tonnage targets and stockwork mineralisation potential

• Holes designed to test mineralisation on multiple structures of various orientations

• Entire RC sample residues to be collated for bulk sample processing upon return of assay results to provide an accurate assessment of gold mineralisation

• Samples to be assayed by 2 kg BLEG analysis due to the nuggety nature of gold mineralisation at Rushworth

Dart Mining NL (ASX:DTM) (“Dart Mining” or “the Company”) is pleased to report that Reverse Circulation (“RC”) percussion drilling is commencing at the Phoenix Hill – Chinaman’s Gully prospect in the Company’s wholly-owned Rushworth Gold Project in Central Victoria (Figure 1). The drilling is focused on testing the mineralisation model for the deposit and assisting in developing appropriate sampling and assaying techniques for use in any future resource estimations on the project. As reported in Dart Mining’s recent release, exploration is focused on targeting quartz vein and stockwork hosted orogenic, epizonal gold mineralisation. Upon commencement of this drilling program, Dart Mining will have two drilling crews operating concurrently across multiple projects and targets in NE and Central Victoria.

GOLDFIELDS

Buckland Rushworth Sandy Creek Granite Flat Dart Mt Elmo Saltpetre Zulu Upper Indi

LITHIUM / TIN / TANTALUM

Empress – Li-Sn-Ta Eskdale / Mitta – Li-Sn-Ta

PORPHYRY GOLD / COPPER / MOLYBDENUM

Empress – Au-Cu Stacey’s – Au-Cu Copper Quarry – Cu+/- Au Gentle Annie – Cu Morgan Porphyry – Mo-Ag-Au Unicorn Porphyry – Mo-Cu-Ag

Investment Data:

Shares on issue: 99,945,476 Unlisted Options: 34,556,369

Substantial Shareholders:

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Top 20 Holdings: 55.26 %

Board & Management:

Managing Director: James Chirnside Non-Executive Director: Dr Denis Clarke Non-Executive Director: Luke Robinson Company Secretary: Julie Edwards

Dart Mining NL

ACN 119 904 880

Contact Details:

4 Bryant Street, Corryong VIC 3707 Australia

James Chirnside

Figure 1: Schematic view of Phoenix Hill drilling transect, intended to target two principal reef systems and intermittent intermediary reef and stockwork mineralisation. Similar transects are planned across the Appleton’s-Smith’s Reef and the eastern extent of Fletcher’s Reef.

Email: jchirnside@dartmining.com.au

Visit our webpage: www.dartmining.com.au

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Rushworth Gold Project, Central Victoria

The Rushworth Goldfield is located in Central Victoria, 140 km north of Melbourne, and 65 km east of Bendigo. The Rushworth Goldfield is well-exposed, with the host strata of the Wangara Formation sandstone, siltstone and shale sequences exposed at surface. These strata have been tightly folded into upright, east-west trending folds, and two primary lines of gold-quartz veining that extend for a cumulative strike length of 14 km. Gold mineralisation is interpreted to be an orogenic, epizonal style similar to that forming high-grade gold shoots at the nearby Fosterville Mine. Within the Rushworth Goldfield, mineralised quartz veins have been intersected at depths beyond 400m in historical workings, and up to 200m in modern drill holes. Historical workings rarely proceeded beyond the water table (~40m), leaving most veins untouched at depth.

Following the recent success at Fosterville, and the currently heightened state of interest in Victorian goldfields, competition for tenure in this area of Central Victoria is fierce. Dart Mining’s strategic 254 km[2] landholding in Central Victoria spans the entire historic Rushworth Goldfield, and is bordered by Chalice Goldmines to the northwest, Newmont Mining to the west, and Nagambie Resources to the south and east.

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Figure 2: Structural model of Fosterville (A) and the Phoenix Hill – Chinaman’s Gully area, Rushworth (B), displaying structural and mineralisation characteristics typical of Central Victorian orogenic gold mineralisation. In particular, mineralisation along limb-thrust faults, is notable of most significant Central Victorian goldfields (Castlemaine, Bendigo, Ballarat, Fosterville, Rushworth). Fosterville model (A) modified from Volleger et al. (2020). Phoenix Hill cross-section compiled from geological mapping completed by Jones & Turnbull (2014) and Boucher (2016).

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Figure 3: Oblique schematic depicting characteristics of the structural and mineralisation style in the Phoenix Hill – Chinaman’s Gully area of the Rushworth Project. Schematic is based on geological mapping completed by Jones & Turnbull (2014) and Boucher (2016).

For more information contact

James Chirnside Managing Director jchirnside@dartmining.com.au

Peter Taylor Investor Relations peter@nwrcommunications.com.au 0412 036 231

About Dart Mining

Dart Mining (ASX: DTM) floated on the ASX in May of 2007 with the aim of evaluating and developing several historic goldfields, as well as substantiating a new porphyry province in North East Victoria. The area is prospective for precious, base, and minor metals. These include Lithium, Gold, Silver, Copper, Molybdenum, Zinc, Tungsten, Tin, Tantalum, and a host of other important minerals. Dart Mining has built a strategically placed gold exploration footprint in the Central and North East regions of Victoria, where historic surface and alluvial gold mining indicates the existence of significant gold endowment.

References

Boucher, R. (2016). Mapping compilation and bulk sample target generation. MIN5246, 5306, 5538, Rushworth. Dart Mining NL, Internal Report.

Jones A. & Turnbull, D. (2016). Mineralisation report, Mining Licences 5246, 5306, 5538, Phoenix Deposit, Rushworth. Northern Mine Ventures Pty Ltd, Internal Report.

Volleger, S. A., Wilson, C. J. L., Micklethwaite, S., Tomkins, A.G. & Cruden, A. R. (2020). Ore shoots in folded and fractured rocks – Insights from 3D modelling of the Fosterville gold deposit (Victoria, Australia). Ore Geology Reviews, 118, 103272.

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Additional JORC Information

Further details relating to the information on the Rushworth project can be found in Dart Mining’s ASX announcements:

5[th] November: “Rushworth Historic High-Grade Goldfield” 27[th] August 2020: “Victorian Gold Mining and Exploration Forum Presentation” 6[th] May 2020: “NWR Virtual Resources Conference Presentation” 16[th] July 2019: “Northeast Victoria Historic Goldfields”

5[th] April 2019: “Dart Mining Acquires Rushworth EL006016” 3[rd] November 2017: “JV Tenement Acquisition Completion”

Additional information on Dart Mining’s other current drilling operations can be found in: 9[th] November: “Commencement of Drilling Copper-Gold Mineralisation at Granite Flat” 30[th] October: “Report for the quarter ended 30[th] September 2020” 27[th] October 2020: “Orogenic Gold and Porphyry Prospectivity, Mitta Mitta, NE Victoria” 19[th] October 2020: “Drill Results Reveal High-Grade Gold”

1[st] September 2020: “Drilling of Gold Mineralisation Commencing” 3[rd] July 2020: “Sandy Creek and Tallandoon Goldfields”

Note that the selected areas of Dart Mining’s wholly owned EL006016 Rushworth tenement (including Chinaman’s Hill and Phoenix) are subject to a 0.75% Net Smelter Royalty payable to Bruce William McLennan.

Competent Person’s Statement

The information in this report that relates to Exploration Results has been compiled by Dr. Ben Hines PhD who is a full-time Senior Geologist for Dart Mining, and verified by Mr Steven Groves BSc, MSc. a Competent Person who is a Member of the Australian Institute of Geoscientists. Mr Groves is the exploration manager for Dart Mining. Mr Groves has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a competent person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Groves consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward-Looking Statement

Certain statements contained in this document constitute forward-looking statements. Forward-looking statements include, but are not limited to, Dart Mining’s current expectations, estimates and projections about the industry in which Dart operates, and beliefs and assumptions regarding Dart’s future performance. Such forward-looking statements are based on a number of estimates and assumptions made by the Company and its consultants in light of experience, current conditions and expectations of future developments which the Company believes are appropriate in the current circumstances. When used in this document, words such as; “anticipate”, “could”, “intends”, “estimate”, “potential”, “plan”, “seeks”, “may”, “should”, and similar expressions are forward-looking statements. Although Dart believes that its expectations presented in these forward-looking statements are reasonable, such statements are subject to known and unknown risks, uncertainties and other factors, which may cause the actual results, achievements and performance of the Company to be materially different from the future results and achievements expressed or implied by such forward-looking statements. Investors are cautioned that forward-looking information is no guarantee of future performance and accordingly, investors are cautioned not to place undue reliance on these forward-looking statements.

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