DART MINING NL — Interim / Quarterly Report 2009

Jul 20, 2009

ASX RELEASE 21 July 2009

ASX CODE DTM

REPORT FOR THE QUARTER ENDED 30[th] JUNE 2009

HIGHLIGHTS

• Drilling resumed at Dart ’ s Mountain View Gold Prospect – the program is ongoing with results expected early in the next Quarter;

• Adjacent to the Unicorn Mo-Cu-Ag Porphyry Prospect Dart has initiated infill soil and rock geochemistry over anomalous Bismuth and Gold zones with results awaited;

• At the Morgan Porphyry Prospect infill soil and rock geochemistry shows significant additional circular –

• multi-metal anomaly at the northern contact of the Porphyry body co-incident with highly anomalous CSAMT geophysical anomalism;

• During the quarter Dart completed a well supported Share Purchase Plan to raise $270,500.

SUMMARY OF ACTIVITY

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 1).

Figure 1. Current Tenements – North East Victoria

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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

21 July 2009

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During the quarter Dart carried out programs of infill soil and rock geochemistry over both the Unicorn and Morgan porphyry prospects (Figures 1 & 2). Dart also secured a drilling contractor to carry out a program of RC drilling to further evaluate multiple gold lode channels at the Mountain View prospect within the Dart Goldfield (Figure 2). Systematic prospect and regional scale geochemical sampling has also continued across a number of exploration licences to further refine Dart ’ s Polygonal Vortex Model and assist in target selection.

Figure 2. Goldfields within Darts Tenements – North East Victoria.

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During the quarter Dart completed a Share Purchase Plan to raise $270,500 to support continued exploration at key prospects.

EXPLORATION ACTIVITY

DART (EL4726)

MOUNTAIN VIEW PROSPECT

The key target of the current RC program is the extension of a significant high grade shoot within the Main Lens (incorporating over 50 gram-metres[1] in three drill holes). The shoot has been identified within a larger lenticular lode channel up to 6m in true width. The drill program is also designed to test a repetition – of the quartz sulphide lode style within the Western Anomaly to the south of current drilling (Figure 3).

A recent grab sample from lode material within the Lower Adit level workings (some 60m below surface) shows significant gold (6.34 g/t), silver (28 g/t) and lead (1.94%) grades and indicates gold grades persist beyond the level of obvious surface oxidation levels (Figure 3).

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1 The grade X intersection width defines the gram-metre result.

21 July 2009

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The program will also aim to test the Main Lens lode channel at approximately 50 and 100m below the historic workings on at least two sections. Structural modelling and mapping indicates late stage dyke structures occur within the footwall of the lode channel and may indicate the presence of further dilation zones below the outcropping Polmears (Main) Lens already identified. The identification of further repetitions of this nature would greatly increase the scope of the mineralisation at the Mountain View Prospect.

– Figure 3. Mountain View Prospect Planned RC Drill Program.

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1000 mRL
MAIN LODE
TARGET
MOUNTAIN VIEW
1994 Test Pit
MVD33 MVD03 MVD05 MVD23 MVD07MVD19MVD17MVD13 MVD12MVD29MVD30MVD20 MVD18 MVD22 MVD21MVD26
950 mRL Upper Adit MVD02 MVD04 MVD24 MVD08 MVD31
MVD35 MVD25 MVD14
MVD10 MVD01 MVD06 MVD09
WESTERN ANAOMALY TARGET MVD11
DMVR_D_000009
Lower Adit Grab SampleLower Adit (Main Lode Channel)
MVD37 6.34 ppm Au
1m @ 2.09 g/t Au 28 ppm Ag
Inside. 11m @ 0.76 g/t Au 1.94% Pb
900 mRL MVD39
2m @ 2.55 g/t Au
Inside. 5m @ 1.41 g/t Au MVD38
5m @ 2.11 g/t Au
Inc. 1m @ 3.29 g/t Au
MVD43
7m @ 1.03 g/t Au
850 mRL
MAIN LODE STRUCTURE PLANNED RC DRILLING
GOLD GRAM METRE
CONTOUR FIRST PASS - RC (TARGET)
> 10 to < 20 Au
> 20 to < 50 Au
> 50 to < 150 Au Grab Sample
>1 ppm Au Envelope SCALE GN
RAB Drill Hole Collar
800 mRL MVDXX RAB Hole Number Horizontal Datum: MGA Grid 1994Vertical Datum: AHD RL
MVD36 MVD40 MVD41
MVD44 MVD43 MVD42 MVD38 MVD37
MVD46 MVD45 MVD39
5,960,950 mN 5,961,000 mN
5,960,700 mN 5,960,800 mN 5,960,850 mN 5,960,900 mN
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DART (EL4726)

UNICORN MOLYBDENUM - COPPER PORPHYRY

At Unicorn the previously reported soil and rock chip geochemical survey, covering some 2.9 x 2.2 km, had highlighted a number of satellite gold and bismuth anomalies forming a well defined NW trend east of the Unicorn Porphyry outcrop. The association of bismuth and gold within Reduced Intrusive Related mineralised systems is well documented and required follow up geochemical investigation. An infill program is nearing completion over specific zones of co-incident Gold and Bismuth anomalism. Initial results are awaited.

Buried igneous stocks differentiated from the Unicorn ’ s intrusive protolith are thought to underlay and explain these very extensive bismuth-gold anomaly zones. Significant anomalism covers a number of areas up to 1km in diameter as satellites about the central Unicorn mineralisation ( “ INFILL ” - Figure 4). Investigation of additional Bi-Au anomalism zones to the south and west is also underway.

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Figure 4: Unicorn Soil and Rock Geochemical Infill Zones – Au – Bi Infill zone.

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0m 500m
587800 588000 588200 588400 588600 588800 589000 589200 589400 589600 589800 590000
5979400 5979400
Water Sample DW00137:
5979300 15.0 ppb Cd 108.3ppb Pb 6.4ppb Cu 5979300
5979200 5979200
5979100 5979100
5979000 5979000
5978900 5978900
5978800 5978800
5978700 5978700
5978600 5978600
5978500 5978500
5978400 5978400
5978300 5978300
5978200 5978200
5978100 5978100
5978000 5978000
5977900 5977900
5977800 5977800
5977700 5977700
5977600 5977600 460
Mt Unicorn 200
5977500 944 m 5977500 100
50
5977400 5977400 30
25
5977300 5977300 20
15
5977200 5977200 10
5
5977100 5977100
3
2.5
5977000 5977000
2
1.5
5976900 5976900
1
0.55
5976800 5976800
0.1
5976700 5976700 0.05
0.01
5976600 5976600 0
587800 588000 588200 588400 588600 588800 589000 589200 589400 589600 589800 590000
East (M) Bi ppm
GDA94 Datum, MGA Zone 55
North
(M)
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Bismuth Geochemistry, Unicorn Grid, Dart EL4726.

Bismuth (ppm Bi) contour plan, from the ~ 2.9 X 2.2 km Mt Unicorn (DUN) grid comprising some 1312 soil, float and rock chip samples. Samples were taken on a 100 X100 m grid. The central zone was in filled on 50m centres comprising some 298 samples of approximately equal soil to rock chip and float samples. Peak analyses were used in contouring in cases where both rock and soil were taken from a single location. Grey areas show null values. Data interpolated and smoothed to an approximate 25m grid utilising linear point Kriging. B. Hochwimmer, July 2008.

DART (EL4726)

MORGAN PORPHYRY

This target is scheduled for drill testing with support from the Victorian Government as part of the Round 2 Rediscover Victoria Drilling funding scheme. Exploration to date indicates the Morgan Porphyry related mineralisation has a Mo – Cu – Au and Ag signature with some metals partitioned in zones of Bi – Cu – Au and separated Mo and As shells.

A program of infill soil and rock geochemistry was completed during the quarter. The infill closed the grid down to 25 – 50m by 50m within the northern zone ( “ INFILL ” areas Figures 5 & 6). The initial soil – rock geochemistry grid program (sampled on a 100m * 100m grid) combined with CSIRO based spectral

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analysis technology had already highlighted a highly anomalous elliptical zone surrounding Morgan ’ s Intrusive complex. The extra detail provided by the infill reveals an additional circular anomaly centred to the north of the porphyry - sediment contact at the surface within the northern infill zone, where geological modelling has inferred a buried intrusive stock.

This circular zone at the northern contact of the porphyry stock is a multi-metal anomaly including – precious metals Figure 5. This highly anomalous geochemical zone which has now been termed the “ Northern Ringlet ” is supported by the CSAMT geophysics and is now undergoing geological modelling and drill targeting.

The gold and copper affinity of the Morgan intrusive is highly prospective, particularly in a zone termed the Septum, the junction between the Northern Ringlet and the annular metal ring about Morgan ’ s porphyry outcrop. Geological modelling suggests a differentiated stock has injected into The Northern Ringlet zone at depth, the surface geochemistry largely a leakage expression of this target, which warrants drill testing.

Figure 5: Morgan Infill Geochemistry Figure 6: Mt Morgan Infill Geochemistry Zones – Molybdenum Geochemistry. Zones – Gold Geochemistry.

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0m 500m 1000m 0m 500m
582000 582500 583000 583500
582000 582500 583000 583500
5973500 5973500
5973500 5973500
5973000 5973000
5973000 5973000
INFILL
INFILL
5972500 5972500
5972500 5972500
Au ppm
Mo ppm
5972000 INFILL 5972000 7000 5972000 INFILL 5972000 0.50.350.3
INFILL 50002500 INFILL 0.250.20.15
950 0.1
500 0.0750.05
220 0.04
5971500 5971500 100 5971500 5971500 0.030.025
50 0.02
20 0.0150.01
7 0.005
2.5 0.001
0
0.5
5971000 5971000 0 5971000 5971000
582000 582500 583000 583500 582000 582500 583000 583500
East (m)
East (m) GDA94 Datum, MGA Zone 55
GDA94 Datum, MGA Zone 55
Gold (ppm) Geochemistry, Morgan Grid (DMM), Dart EL4726.
Molybdenum Geochemistry, Morgan Grid (DMM), Dart EL4726.
(m)
(m)
North
North
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Contoured Molybdenum analyses in ppm Mo from approximately 2.9 X 2.0 km DMM grid, comprising 946 soil, float and rock chip samples (2008) and 231 25 to 50 x 50 infill rock chip samples (2009). White areas have null results. Soils (2008) were initially sampled on a 100 X100 m grid with rocks generally 50% less than soils sampling in most areas, from which peak analyses were used in cases of both soil and rock from a single location. Molybdenum shows a northern low tenure ringlet geometry some 250-450 m wide with internal zones 100 generally ranging up to 500 ppm Mo. The northern Mo ringlet conforms to the northern RVD2 drill zone and adjoins the large elliptical Mo ring anomaly about the Morgan intrusive complex. Infill in the western RVD2 drill zones shows the Mo anomlay here at 597200 mN is a spot high Data was interpolated and smoothed to an approximate 25 m grid utilising linear point Kriging. B. Hochwimmer, May 2009.

Contoured gold analyses in ppm Mo from approximately 2.9 X 2.0 km DMM grid, comprising 946 soil, float and rock chip samples (2008) and 231 25 to 50 x 50 infill rock chip samples (2009). White areas have null results. Soils (2008) were initially sampled on a 100 X100 m grid with rocks generally 50% less than soils sampling in most areas, from which peak analyses were used in cases of both soil and rock from a single location. Data was interpolated and smoothed to an approximate 25 m grid utilising linear point Kriging. B. Hochwimmer, May 2009.

The infill zones to the west and east confirm spot highs for metals corresponding to a limited area of very high metal values. These areas will also undergo further modelling as they occur in the context of strong tin anomalism which is seen throughout Morgan ’ s intrusive complex. Table 1 shows peak metal values returned from the program.

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Table 1 Peak Metal Analysis Morgan Prospect Infill

Metal	Peak Analysis	Sample No	Easting(m)	Northing(m)
	(ppm or g/t)
Silver	52.9	DMMBRM000020	582,748	5,972,798
Bismuth	1435	DMMBRM000040	582,800	5,972,500
Molybdenum	1235	DMMBRM000033	582,802	5,972,729
Copper	1265	DMMRM000178	582,951	5,972,575
Tin-XRF	2000 (0.2%)	DMMBRM000107	583,301	5,971,950
Tin#2	1235	DMMBRM000040	582,800	5,972,500
Lead	2650	DMMRM000179	582,950	5,972,551
Zinc	401	DMMBRM000071	583,000	5,972,577
Gold	0.31 g/t	DMMRM000178	582,951	5,972,575
Tellurium	64	DMMBRM000044	582,750	5,972,400

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

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