DART MINING NL — Interim / Quarterly Report 2015

Oct 14, 2015

Report for the Quarter Ended 30 September 2015

15 October 2015

ASX Code: DTM

Investment Data: Shares on issue: 243,257,892 Unlisted options: 15,473,048

Key Projects:

Unicorn Porphyry: Mo-Cu-Ag Copper Quarry: Cu-Au Gentle Annie : Cu Morgan Porphyry :Mo-Ag-Au Fairley’s : Au Mountain View : Au

Board & Management: Managing Director: James Chirnside Non-Executive Director: Luke Robinson Non-Executive Director: Russell Simpson Company Secretary: Julie Edwards

Dart Mining NL ACN 119 904 880

Corporate Update

• A review of the Company’s direction and strategy was implemented over the course of the period.

• Further study around the immediate viability of the Mt Unicorn Mo-Cu-Ag project was undertaken and completed.

• Conclusions drawn from the Mt Unicorn project study indicate that for the time being economic risks around further work and development are too great to proceed with any substantial expenditure and development at this time.

• The board continues to seek potential joint venture partners for the Mt Unicorn project which may materialize over time as and when a recovery in the Mo price is seen as sustainable.

Contact Details:

4 Bryant Street, Corryong VIC 3707 Australia

James Chirnside

Phone: +61 (0)498 732 742 Email: jchirnside@dartmining.com.au

Website: www.dartmining.com.au

• The board adopted a recommendation to pursue the acquisition and development of more Au projects that fit predetermined criteria. These criteria are limited by Geographic location, Project size (large and small), as well as Financial capacity to execute such ventures.

• Development work on Mt View progressed as the company seeks to bring the project into production.

• On-going Au opportunities and negotiations are the Company’s primary focus for the immediate future.

• At the end of the quarter the Company’s cash position stood at approximately $683,000.

Tenement Status Report as at September 30 2015

Tenement Number	Name	Area(Grats)	Interest	Location
EL4724	Buckland2	82	100%	NE Victoria
EL4726	Dart1&2	680	100%	NE Victoria
EL5058	Cudgewa	413	100%	NE Victoria
EL5194	Mt. Alfred	51	100%	NE Victoria
EL5467	Mcormacks	92	100%	NE Victoria
EL5468	Upper Murray	198	100%	NE Victoria
ML5559	Mt View	4.8	100%	NE Victoria

All tenements remain in good standing at 30 September 2015.

NOTE 1: Unicorn Project area subject to a 2% NSR Royalty agreement with BCKP Limited (Orion Mine Finance) dated 29 April 2013.

NOTE 2: Areas subject to a 1.5% Founders NSR Royalty Agreement.

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Name of entity

DART MINING NL

	ABN 84 119 904 880 Consolidated statement of cash flows	ABN 84 119 904 880 Consolidated statement of cash flows	Quarter ended (“current quarter”) 30 SEPTEMBER 2015	Quarter ended (“current quarter”) 30 SEPTEMBER 2015
			30 SEPTEMBER 2015
Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & 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 – Research and Development (adjustment) ‐ Costs associated with Offer Net Operating Cash Flows*		Current quarter $A’000		Year to date (12 months) $A’000
		(306) ‐ ‐ (183) ‐ 6 ‐ ‐ ‐ ‐		(306) ‐ ‐ (194) ‐ 6 ‐ ‐ ‐ ‐
		(483)		(483)
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)		‐ ‐ ‐ ‐		‐ ‐ ‐ ‐
		‐		‐
		(483)		(483)

• See chapter 19 for defined terms.

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Mining exploration entity and oil and gas exploration entity quarterly report

Appendix 5B

1.13 Total operating and investing cash flows (brought forward)	(483)	(483)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 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 (Capital raising costs) Net financing cash flows	‐ ‐ ‐ ‐ ‐ ‐	‐ ‐ ‐ ‐ ‐ ‐
	‐	‐
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter	(483)	(483)
	1,166 ‐	1,166 ‐
	683	683

Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities

entities of the entity and associates of the related entities
1.23 Aggregate amount of payments to the parties included in item 1.2 1.24 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
	96

• 1.25 Explanation necessary for an understanding of the transactions

Incudes directors fees, superannaution and consulting fees.

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

• See chapter 19 for defined terms.

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Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1	Loan facilities
3.2	Credit standby arrangements

Amount available $A’000	Amount used $A’000

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration		$A’000
			300
			‐
			120
Total			420
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 (provide details)	174 509 ‐ ‐		161
			1,005
			‐
			‐
Total: cash at end of quarter(item 1.22)	683		1,166

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Changes in interests in mining tenements and petroleum tenements

6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements and petroleum tenements acquired or increased	Tenement reference and location	Nature of interest (note (2))	Interest at beginning ofquarter	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 note3) (cents)	Amount paid up per security (see note3) (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 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy‐ backs	243,257,982	243,257,982
7.5 +Convertible debt securities (description)

• See chapter 19 for defined terms.

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Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

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	100,000 100,000 3,000,000 3,000,000 4,273,048 1,000,000 2,000,000 400,000 1,600,000		$0.18 $0.22 $0.15 $0.15 $0.11 $0.11 $0.11 $0.03 $0.06	20 March 2017 20 March 2017 31 December 2015 31 December 2016 6 May 2016 30 August 2016 31 December 2016 31 December 2017 31 December 2017
7.11 Debentures (totals only)
7.12 Unsecured notes(totals only)

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 5).

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

Sign here: Date: 15 October 2015 (Company Secretary) Print name: Julie Edwards

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

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 and petroleum 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 or petroleum 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 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting 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.

Appendix 5B Page 6

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