DART MINING NL — Capital/Financing Update 2020

Aug 31, 2020

ASX Release

1 September 2020

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ASX Code: DTM

Key Prospects / Commodities:

Drilling of Gold Mineralisation Commencing at Buckland Valley & Sandy Creek Projects, NE Victoria

• Percussion drilling to test strike extent of disseminated sulphide mineralisation at Fairley’s Project, Buckland Valley

• Up to 15 holes planned to target high-grade lode-style and low-grade disseminated sulphide, bulk-tonnage mineralisation

• Mineralisation remains open at depth and along strike north and south of previous drilling

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

• Drilling to then progress on multiple targets at Sandy Creek

• Up to 18 drill holes planned in the previously undrilled, gold-mineralised altered granites at Sandy Creek to pursue highly promising chip sampling results

Dart Mining NL (ASX:DTM) (“Dart Mining” or “the Company”) is pleased to report that percussion drilling will commence on Monday, 7[th] September at the Fairley’s prospect in the Company’s wholly-owned, flagship Buckland Gold Project in Northeast Victoria. The drilling is focused on expanding the strike extent of lowgrade, disseminated sulphide mineralisation along the Fairley’s Shear Zone. Additional drill holes have been designed to intercept low tonnage; high-grade quartz-gold mineralised shoots hosted within the broader shear zone. On completion at the Fairley’s prospect, drilling will progress to the recently revaluated and reassessed Sandy Creek project, for a first-phase drilling program targeting gold mineralisation associated with altered granites.

Fairley’s Prospect, Buckland Valley

Following the success of previous reverse circulation (RC) and diamond drilling at the Fairley’s prospect, Dart Mining has designed a low impact drill program to test the northern and southern extent of mineralisation, in addition to assessing the subsurface extent of several rewarding chip and channel samples. The planned drilling will target mineralisation 70m north of, and 125m south of previous drilling, resulting in a concentration of drilling along a strike length of 300m at the Fairley’s prospect. Due to steep terrain, drilling occupies a vertical range of 260m.

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: 74,959,107 Unlisted Options: 9,070,000

Substantial Shareholders:

Top 20 Holdings: 61.75 %

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

Email: jchirnside@dartmining.com.au

Visit our webpage: www.dartmining.com.au

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Selected highlights of previous drilling and sampling include drill intersections of 3m @ 18.37 g/t Au (including 1m @ 34.2 g/t Au ) and 6.0m @ 2.63 g/t Au ( Dart ASX 15 December 2008 ), 21m @ 1.41 g/t Au (including 7.8m @ 3.15 g/t Au ) and 40.4m @ 0.84 g/t Au ( Dart ASX 31 December 2008 ). Previous channel and chip sample sites targeted during the current program include channel samples of 2.05m @ 9.78 g/t Au ( Dart ASX August 2016 ), and 5.6m @ 10.7 g/t Au ( Dart ASX December 2019 ), 13.7m @ 3.97 g/t Au ( Dart ASX October 2007 ), and chip samples of 6.4 m @ 13.17 g/t Au (including 1m @ 48.8 g/t Au ) and 2.3m @ 2.54 g/t Au nearby at the Rose & Thistle workings ( Dart ASX February 2020 ), and 10m @ 2.99 g/t Au in the Fairley’s track road cutting ( Dart ASX 31 December 2008 ; Figure 1)

The disseminated style of gold mineralisation evident at Fairley’s is comparable to the traditional Fosterville-style orogenic gold mineralisation in Central Victoria ( Dart ASX August 2016 ). Previous RC and diamond drilling at Fairley’s have identified good intersections, and remains open along strike extents, and at depth. The Fairley’s prospect represents a small portion of a 17.5 km-long shear zone (which remains open to the south), identified through an extensive soil sampling campaign, with a corresponding soil As and Au anomaly ( Dart Mining ASX February 2020 ). Previous exploration by Dart Mining at the Fairley’s Prospect has been detailed in a number of reports ( Dart ASX October 2007 ; Dart ASX April 2008 ; Dart ASX June 2008 ; Dart ASX October 2008 ; Dart ASX 15 December 2014 ; Dart ASX 31 December 2014).

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Figure 1: Cross-section of targeted mineralisation at Fairley’s. Selected highlights from previous drilling ( Dart ASX 15 December 2008, Dart ASX 31 December 2008 ) and chip sampling shown ( Dart ASX December 2019 ; Dart ASX February 2020 ). Note that cross section (B) is compiled from approximately 150m of transposed data. See Figure 3 for map of planned drill holes.

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Sandy Creek Project

First-phase drilling at Sandy Creek will focus on the Shamrock and O’Dell’s prospects, with their prevalence of disseminated gold-sulphide mineralisation, and potential for producing a high tonnage target. Historically, these prospects were worked for low tonnage, narrow vein, high grade gold (up to 3,500 g/t; Dart ASX July 2020 ). However, Dart geologists have reassessed the mineralisation style and identified significant intersections of lowergrade gold mineralisation in hydrothermally-altered granites, which will undergo their first phase of drill testing in this program. The Sandy Creek drill program is designed to identify the extent of low-grade gold-sulphide mineralisation beyond the narrow confines of existing workings; historic mining targeted narrow, high-grade gold mineralisation, therefore providing limited indication as to the extent of the disseminated gold-sulphide mineralisation of the Yabba Granite.

Highlights from Dart Mining’s current exploration includes chip sampling at the Shamrock prospect of 20.0m @ 4.0 g/t Au (unknown width), 2.0m @ 6.38 g/t Au (true width; including 1.0m @ 11.55 g/t Au) and 2.5 m @ 12.3 g/t Au (true width) channel sample of altered granite ( Dart ASX July 2020 ), which will be targeted to determine the extent of low-grade gold mineralisation (Figure 2). Chip samples of altered granite from the O’Dell’s workings include 0.8m @ 14.4 g/t Au (true width) and 1.0 m @ 12.65 g/t Au (true width), amongst several highly anomalous gold samples, including 0.5m @ 28.2 g/t Au (true width) gold-silica mineralisation ( Dart ASX July 2020 ; Dart ASX January 2019 ), all of which will be targeted by multiple holes of various orientations.

Although drilling activities will primarily be focused on the Shamrock and O’Dell’s prospects, several additional holes will assess the potential of the Honeysuckle, I.X.L and Morning Star workings (Figure 3). Highlights from chip sampling at these sites include: 10.0m @ 1.07 g/t Au and 5.0m @ 1.63 g/t Au along a fault in altered granite at the Honeysuckle prospect; 14.0m @ 1.46 g/t Au (true width), including 5.0m @ 2.11 g/t Au (true width) within a broad, altered shear zone at the I.X.L East prospect; and a grab sample at 140 g/t Au and 35.1 g/t Ag from the Morning Star prospect ( Dart ASX July 2020 ). A more detailed summary of gold exploration activities at Sandy Creek can be found in Dart ASX July 2020 .

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Figure 2: Cross-section through the Shamrock prospect showing sampling highlights and the conceptual geological model for altered granite mineralisation in the Sandy Creek Goldfield. High-grade silica-gold mineralisation is present along narrow veins (red lines), whereas granite intrusion and subsequent hydrothermal alteration has exploited fractures (grey lines), resulting in an inconsistent distribution of altered, gold mineralised granite. Section is oriented northeast-southwest and drawn to scale (1:1000).

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Figure 3: A) Location of the Fairley’s and Sandy Creek projects in Northeast Victoria. B) Location of planned drilling at the Fairley’s prospect. C) Location of prospects to be targeted by first-phase drilling at Sandy Creek.

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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 potentially significant gold endowment.

Additional JORC Information

Further details relating to the information on the Fairley’s, Buckland Valley and Sandy Creek gold projects can be found in Dart Mining’s ASX announcements:

• 3 July 2020; “Sandy Creek and Tallandoon Goldfields”.

• • 6 May 2020; “Re-Discovering the Goldfields of Central and North East Victoria; NWR Virtual Resources Conference”.

• 30 April 2020; “Quarterly Activities and Cashflow Report”.

• 20 February 2020; “Buckland Gold Project Update”.

• 31 January 2020; “Quarterly Activities and Cashflow Reports”.

• 13 December 2019; “Buckland Gold Project Update”.

• 29 November 2019; “AGM Presentation”

• 2 September 2019; “Buckland Gold Project”.

• 20 August 2019; “Buckland Project NE Victoria”.

• 1 August 2019; “Quarterly Activity Report”.

• 16 July 2019; “NE Victoria Historic Gold Fields”.

• 30 April 2019; “Quarterly/Activities and Cashflow Report”.

• 31 January 2019; “Report for the Quarter Ended 31 December 2018”.

• 9 August 2016; “Fairleys Gold Update”.

• 30 January 2015; “Report for the Quarter Ended 31 December 2014”.

• 31 December 2008; “Report for the Quarter Ended 31 December 2008”.

• • 15 December 2008; “Immediate Exploration Success – significant intercepts at Fairley’s Gold Project”.

• 29 October 2008; “Report for the Quarter Ended 30 September 2008”.

• 5 June 2008’ “Solid First Year Progress for Dart Mining”.

• 28 April 2008; “Report for the Quarter Ended 31 March 2008”.

• • 29 October 2007; “Report for the Quarter Ended 30 September 2007”.

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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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