DART MINING NL — Interim / Quarterly Report 2011

Apr 28, 2011

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

Name of entity

DART MINING NL

ABN	Quarter ended (“current quarter”)
84 119 904 880	31 March 2011

Consolidated statement of cash flows
Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration and evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) Net Operating Cash Flows	Current quarter $A’000	Year to date (9 months) $A’000
	(137) - - (205) 10 - - -	(799) - - (612) 23 - - -
	(332)	(1,388)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b)equity investments (c)other fixed assets 1.9 Proceeds from sale of: (a)prospects (b)equity investments (c)other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other (provide details if material) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	- - (9) - - - - - -	- - (13) - - - - - -
	(9)	(13)
	(341)	(1,401)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

1.13	Total operating and investing cash flows (brought forward)	(341)	(1,401)
Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc.	878	1,805
1.15	Proceeds from sale of forfeited shares	-	-
1.16	Proceeds from borrowings	-	-
1.17	Repayment of borrowings	-	-
1.18	Dividends paid	-	-
1.19	Other (provide details if material) – IPO Costs	-	-
Net financing cash flows		-	-
Net increase (decrease) in cash held		537	404
1.20	Cash at beginning of quarter/year to date	1,090	1,223
1.21	Exchange rate adjustments to item 1.20	-	-
1.22	Cash at end ofquarter	1,627	1,627
Payments to directors of the entity and associates of the directors
Payments to related entities of the entity		and associates of	the related
entities

		Current quarter
		$A’000
1.23	Aggregate amount of payments to the parties included in item 1.2	(189)
1.24	Aggregate amount of loans to the parties included in item 1.10	-
1.25	Explanation necessaryfor an understandingof the transactions
	Payments to Directors and related entities
	North East Geological Contractors P/L – 1.2 (a)	7
	B Hochwimmer and Associates – 1.2 (a)	16
	Edrill P/L – 1.2 (a)	16
	ResourcesLaw – 1.2 (d)	41
	B Hochwimmer – 1.2 (a)	40
	D Turnbull – 1.2 (a)	39
	C Bain – 1.2 (d)	21
	S Poke – 1.2 (d)	9
	R Udovenya – 1.2(d)	-

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

• 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities 3.2 Credit standby arrangements 3.3 New share issue	Amount available $A’000 - - -	Amount used $A’000

Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	662
	-
	-
	154
Total	816

Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current quarter $A’000	Previous quarter $A’000
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (Tenement bonds)	1,587	1,050
	40	40
Total: cash at end of quarter(item 1.22)	1,627	1,090

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	Total number	Number quoted	Issue price per security (see note 3) (cents)	Amount paid up per security (see note 3) (cents)
7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions	-	-
	- -	- -
7.3 +Ordinary securities Fully paid 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs (c)Off restriction	119,438,316	104,053,700
	15,384,621 -	- -
7.5 +Partly Paid Ordinary securities 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted	-	-
	- -	- -
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	5,000,000 15,384,621	- 7,692,308	Exercise price 15.0 cents 10.0 cents	Expiry date 31 December 2013 31 December 2011
	7,692,313	-
	-	-
	-	-
7.11 Debentures (totals only)	-	-
7.12 Unsecured notes(totals only)	-	-

• See chapter 19 for defined terms.

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Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).

• 2 This statement does give a true and fair view of the matters disclosed.

==> picture [71 x 49] intentionally omitted <==

Sign here: ......................... ..... Date: 29 April 2011 (Director)

Print name: Christopher Bain

Notes

• 1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

• 2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .

• 4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

== == == == ==

• See chapter 19 for defined terms.

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