DART MINING NL — Interim / Quarterly Report 2007

Jul 11, 2007

ASX RELEASE 13 July 2007

ASX CODE DTM

REPORT FOR THE QUARTER ENDED 30 JUNE 2007

HIGHLIGHTS

• Completion of fully subscribed IPO with the company raising $5million

• Commenced drilling of Dart tenement

• High grade gold intercepted at Mountain View Prospect

• Prospectus for Bonus Option issue lodged with ASIC on 4 July 2007

CORPORATE

Dart Mining NL closed its Initial Public Offering (IPO) fully subscribed, raising $5 million to undertake its exploration program. Almost 500 investors subscribed for 25 million shares, with more than a quarter being subscriptions from regional Victoria and NSW. The total number of ordinary shares on issue is now 42.75 million shares of which 26.9 million are currently quoted on the ASX. The Company expects to make a bonus option issue to all shareholders on the share register on the record date of 13 July 2007. These bonus options will also be listed on the ASX (code DTMO).

EXPLORATION

MOUNTAIN VIEW

As announced on 28 June 2007, Dart has achieved some outstanding results from its first drill program undertaken at the Mountain View Prospect in the Dart Goldfield. Drilling has identified high grade gold from surface with the most significant intersect in hole MVD20 achieving 6m @ 21.79 g/t gold including 2m @ 59.25 g/t gold from 3 metres depth.

Other results include: Hole MVD19 from 4 metres 7m @ 6.16g/t gold, including 2m @ 8.99 g/t gold Hole MVD17 from 3 metres 6m @ 6.05g/t gold, including 4m @ 8.36 g/t gold Hole MVD04 from 9 metres 3m @ 6.57g/t gold

These results, together with the rest of the assays shown in Table 1 would appear to confirm the high grade nature of the sulphide hosted gold mineralisation at Mountain View.

The 18 hole RAB drilling program at the Mountain View prospect was completed in June for a total of 467m. The drilling was designed to gain a better understanding of the lode geometry and the controls on mineralisation as well as allowing a better interpretation of the potential strike extent and down dip continuity. A total of some 140m of strike and up to 40m down dip has now been tested.

Hole MVD01 (3m @ 3.62 g/t Au – Figure 1A and Table 1) has intersected a mineralised sulphide lens which may be developing at depth, importantly this mineralisation (with grades up to 1m @ 7.88 g/t Au) is below the oxide zone. The drilling shows that the mineralisation

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Report for the quarter ended 30 June, 2007

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persists down dip and may form a series of overlapping, laterally stacked lenses. These sulphide rich bodies are likely to be lenticular in all dimensions (Figure 1 A and B). Assay results to date (assays for 8 holes remain outstanding) also indicate that the most consistent high grades occur within the widest zones of the lode (Figure 1B), with up to 6m @ 21.79 g/t Au intersected in Hole MVD20 (Table 1, Figure 2). Gold grades appear to tail off down dip into the narrow tail portion of the lens and along strike as the lens thins. The mineralisation remains open to both the north and south along strike.

Evaluation is still in its early stages at the Mountain View prospect, and Dart intends to carry out a more widely spaced and deeper drilling program on sections some 40m apart to establish the depth and strike continuity of the interpreted lens repetitions within the mineralised corridor.

Geological mapping at Mountain View shows a line of shallow historical workings to the west of the main structure (at around 5,960,850mN, 567,400mE – Figure 2). Outcropping shale intersected by narrow quartz veins showing sulphide inclusions (now weathered) have been found along this line and may indicate a parallel mineralised structure. A grab sample from outcrop returned an assay of 106 g/t Au. The potential of this structure will initially be followed up by detailed rock chip sampling.

Figure 1 A: Drill Section at 5,960,878mN and B: At 5,960,908mN (MGA Grid)

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A

B

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Figure 2 Mountain View Drill Hole Locations completed to June 2007

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PROJECT BACKGROUND

The Dart Goldfield is located some 45km south of Corryong in NE Victoria. It comprises a number of shallow mines from the 1890s where the gold is associated with sulphide rich lode structures. Dart Mining has commenced evaluation of this goldfield by drilling at Mountain View. Other mines in the goldfield will be mapped and sampled in order to prioritise further drilling opportunities.

MT ELLIOTT PROSPECT

A 6 Wheel drive Gemco RC rig has been contracted to carry out Phase 1 of the drilling program at the Mount Elliott prospect which is expected to commence shortly. All earth works and drill pad preparation is now complete. The drilling aims to establish the down dip continuity of the zones historically mined along a 700m portion of the Just in Time and the Hope lines of lode. Drilling will also test the geochemistry of a zone where the two main lines of lode intersect. The program will be adapted as drilling progresses to test the strike extension of any mineralisation intersected below the old workings.

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Report for the quarter ended 30 June, 2007

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REGIONAL EXPLORATION

Recent rainfall across north east Victoria has facilitated a program of regional water geochemistry aimed at establishing low level metal dispersion trains shed from subsurface mineralisation. The technique requires very sensitive analysis and is being carried out with equipment recently purchased by Dart. This hydro-geochemistry technique allows large areas of prospective terrain to be prospected and quickly evaluated for further investigation. This work will greatly assist the company in the search for significant new Reduced Intrusive Gold and Porphyry style gold and base metals mineralisation in previously unexplored areas of the “Dart” tenement.

Regional exploration is also continuing at the company’s Buckland EL with prospects short listed for field follow-up that were identified through the research of historical accounts and reports of the Buckland Valley Goldfield now being mapped and chip sampled. This work is ongoing.

Dart has applied for two new tenement areas to the West of the existing Dart EL4726 which are prospective for extensions of mineralisation from the current tenement holding.

SHARE PRICE

Since listing on 10 May 2007 at 22 cents, the company’s shares have traded in the range of 18 to 26 cents with the high being achieved after the announcement of the high grade gold intersected at Mountain View prospect. Subsequent to the end of the quarter the share price rose to a high of 28 cents prior to trading ex-entitlement to the Bonus Options. The share price is now trading around 22 cents.

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DART share price history
-pre trading ex entitlement to Bonus options
3,000,000 $0.30
$0.25
2,000,000 $0.20
$0.15
1,000,000 $0.10
$0.05
0 $0.00
Volume Close
10-May-07 17-May-07 24-May-07 31-May-07 07-Jun-07 14-Jun-07 21-Jun-07 28-Jun-07 05-Jul-07
Volume
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Table 1 Results from Mountain View drilling

			Hole
	MGA East	MGA North	Azimuth		mRL AHD		Significant Intersections Cutoffs:			Total Depth
Hole No.	(m)	(m)	(MGA Grid)	Hole Dip	(m)	From(m)	1.0g/t Au			(m)
MVD01	567,451	5,960,879	270	-88	960.3	30	6m @ 2.41 g/t Au Including 3m @ 3.62 g/t Au			39
MVD02	567,450	5,960,879	270	-79	960.3	8	3m @ 1.32 g/t Au			25
MVD03	567,448	5,960,879	270	-45		3	2m @ 2.66 g/t Au			15
MVD04	567,449	5,960,888	270	-78	961.3	9	3m @ 6.57 g/t Au			30
MVD05	567,448	5,960,888	270	55		3	4m @ 3.78 g/t Au			12
							Including 1m @ 7.3 g/t Au
MVD06	567,452	5,960,888	270	-89	961.4	22	3m @ 1.12 g/t Au			39
MVD07	567,449	5,960,902	270	-70	964.1	2	8m @ 5.13 g/t Au			14
							Including 1m @ 23.8 g/t Au
MVD08	567,450	5,960,902	270	-85	964.1	2	14m @ 3.2 g/t Au			19
							Including 2m @ 7.0 g/t Au
MVD09	567,452	5,960,903	270	-90	964		Assay results pending			37
MVD10	567,436	5,960,843	110	-54	955		Assay results pending			37
MVD11	567,432	5,960,846	067	-50	956		Assay results pending			36
MVD12	567,450	5,960,913	270	-44	967	4	4m @ 9.9 g/t Au			11
							Including 1m @ 20.3 g/t Au
MVD13	567,451	5,960,913	270	-75	967	4	6m @ 6.21 g/t Au			10
							Including 3m @ 9.11 g/t Au
MVD14	567,452	5,960,913	270	-90	967	8	1 lm @ 4.63 g/t Au			24
							Including 4m @ 5.72 g/t Au
MVD15	567,450.1	5,960,830.4	276	-49	950		Assay results pending			18
MVD16	567,449.6	5,960,829.1	284	-68	950		Assay results pending			27
MVD17	567,450	5,960,908	270	-46	950	3	6m @ 6.05 g/t Including 4m @ 8.36 g/t Au		Au	20
MVD18	567,450	5,960,921	270	-43.5	970	3	2m © 4.99 g/t Au			10
MVD19	567,450	5,960,908	270	-74	965	4	7m @ 6.16 g/t Including 2m @ 8.99 g/t Au		Au	25
MVD20	567,451	5,960,918	275	-59	968	3	6m @ 21.79 g/t Including 2m @ 59.25 g/t Au		Au	19
MVD21	567,452	5,960,932	270	-60	970	3	2m @ 1.84 g/t Au			14
MVD22	567,450	5,960,927	270	-45	969	1.5	2.5m @ 1.70 g/t Au			6.5
MVD23	567,449	5,960,895	270	-55	963	1	5m @ 3.45 g/t Including 3m @ 5.23 g/t Au		Au	15
MVD24	567,450	5,960,895	270	-80	963	6	8m @ 2.14 g/t Including 3m @ 2.90 g/t Au		Au	27
MVD25	567,451	5,960,896	270	-90	963	14	3m @ 4.38 g/t Au			38.5
MVD26	567,453	5,960,930	260	-70	969		Assay results pending			20
MVD27	567,451	5,960,960	271	-56	985		Assay results pending			26
MVD28	567,452	5,960,949	282	-57	976		Assay results pending			3

Information in this report that relates to a statement of exploration results of the Company is based on information compiled by Dean Turnbull, BAppSc (Hons) M.AIG. Mr Turnbull is a Director of Dart Mining NL and has sufficient experience relevant to the style of mineralisation and type of deposits under consideration and to the activity undertaken. He is qualified 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 consents to the inclusion of this information in the form and context in which it appears in this report.

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