DART MINING NL — Interim / Quarterly Report 2009

Oct 19, 2009

ASX RELEASE 20 October 2009

ASX CODE DTM

REPORT FOR THE QUARTER ENDED 30[th] September 2009

HIGHLIGHTS

• Drilling was completed at Dart ’ s Mountain View Gold Prospect to confirm the continuity below 150m from surface of the main lens structure;

• At the Morgan Porphyry Prospect planning is well advanced to drill the circular multi-metal anomaly at the northern contact of the Porphyry body from November;

• Planning for the drilling program at Dart ’ s Unicorn Mo-Cu-Ag Porphyry Prospect has commenced;

• Following the quarter Dart completed a well supported Share Placement to raise $1 million.

SUMMARY OF ACTIVITY

During the quarter Dart carried out a program of RC drilling to further evaluate multiple gold lode channels at the Mountain View prospect within the Dart Goldfield (Figure 1). Deep drilling confirmed the continuity below 150m from surface of the main lens structure. Drill testing of the western anomaly highlighted a new lode structure to the east. Following this drilling program, three vertically and laterally stacked mineralised structures are now indicated. Continuity of the main lens structure with additional mineralised structures now warrants a first pass geophysical program along the line of the lodes which is scheduled for 2010.

Planning was advanced in preparation for Dart ’ s drilling programs at the Morgan and Unicorn prospects in November 2009 and the beginning of 2010 respectively.

Following the end of the quarter, on 1 October 2009 Dart entered a trading halt while it completed a Share Placement to raise $1 million to support continued exploration at key prospects.

EXPLORATION ACTIVITY

DART (EL4726): MOUNTAIN VIEW PROSPECT

The aim of the drill program at the Mountain View Prospect was to determine if the mineralised structure persisted with depth and strike and also to test for additional blind lodes. As such the program has been very successful and based on the continuity of the mineralised structure and the intersection of an additional high sulphide lode (DMVRC12) Dart considers that a first pass geophysical program along the line of the lodes to assist with targeting future drilling is warranted.

– Initial highlights of the RC drilling program (DMVRC01 05) included confirmation of the high grade gold lode extending to the north by some 50m with intersections including 6m @ 7.8 g/t Au (including 2m @ 19.3 g/t Au) – DMVRC04 and 4m @ 8.72 g/t Au (including 1m @ 18.75 g/t Au) – DMVRC05 - Figure 1.

– Deeper drilling targeted the Main Lens (DMVRC07 10) and the southern down dip continuation of the – – Western Anomaly (DMVRC11 12) Figure 1. Drill holes intersecting the Main Lens have highlighted the continuous nature of the structure with depth down dip and along strike. The structure shows silica and sulphide alteration over down hole widths up to 5m (DMVRCC01 & 09) with highly anomalous intercepts. The deepest drill hole (DMVRC08) shows 1m @ 2.47 g/t Au from some 75m below the historic Lower Adit level workings (Figure 1).

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Level 3, 15 Queen Street Melbourne, Victoria, 3000, Australia TELEPHONE +61 3 9621 1322 FACSIMILE +61 3 9621 1544 EMAIL info@dartmining.com.au WEB www.dartmining.com.au ACN 119 904 880

20 October 2009

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– Figure 1. Mountain View Prospect RC Drill Program.

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Intersections of 5m @ 0.91 g/t Au (DMVRC01) and 4m @ 0.86 g/t Au (DMVRC10) may represent gold mineralisation developed peripheral to higher grade sulphide lodes within the mineralised channel. Drill hole DMVRC07 was abandoned at 73m due to bit failure down hole and DMVRC12 had to be abandoned before the Western Anomaly target depth due to strong water inflows and inadequate air pressure. All other holes have been completed to target depth and have intersected the gold mineralisation as predicted by the pre-drill geological model.

Drilling also targeted the down dip extension of the Western Anomaly with a new Lode structure intersected in the hanging wall to the east of the interpreted position of the Western Anomaly mineralisation. This is the first intersection of this gold mineralisation and indicates the geological model consisting of vertical and lateral repetitions of mineralised structures remains valid and warrants further testing (Figure 2).

Figure 2: Conceptual Geological Model – Vertically and Laterally Stacked Mineralised Structures – Glendart Syncline.

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20 October 2009

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DART (EL4726)

MORGAN PORPHYRY – GOLD/BASE METALS TARGET

This target is scheduled for drill testing starting in November with support from the Victorian Government as part of the Round 2 Rediscover Victoria Drilling funding scheme.

The drill program will be centred on the circular anomaly to the north of the porphyry-sediment contact at the surface within the northern infill zone of the previously announced Morgan ring-like geochemical anomaly. This circular zone at the northern contact of the porphyry stock is a multi-metal anomaly including precious metals. This highly anomalous geochemical zone previously supported by the CSAMT geophysics will undergo a further IP analysis to finalise drill targeting.

UNICORN PORPHYRY – MOLYBENUM/COPPER TARGET

This target is scheduled for drill testing starting early in 2010. A further IP analysis is planned to produce a 3D model to finalise drill targeting.

COMPETENT PERSON ’ S STATEMENT

Information in this report that relates to a statement of exploration results of the Company is based on information compiled by Dean Turnbull, B. App. Sc (Geol)., 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.

For further information visit our website at www.dartmining.com.au or contact

John Quayle, CEO

Ph: +61 (0) 3 9621 1322

Dart ’ s current tenement holdings total some 2,800 km[2] within North East Victoria and exploration on these tenements remains the sole focus of the company.

Figure 3. Current Tenements – North East Victoria

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