DART MINING NL — Interim / Quarterly Report 2018

Jul 30, 2018

ASX Release Report for the Quarter Ended 30 June 2018

31 July 2018

Corporate Activities

• Successful and well supported Rights Entitlement issue commenced and closed fully subscribed raising A$1.93m.

• The capital raising will allow the company to accelerate and significantly progress its Lithium Exploration program over coming months.

• Efforts to monetise and progress development of Dart’s Gold projects has been fruitful with multiple counterparties seeking access to Dart’s data room as part of their assessment of the company’s Gold projects.

• Discussions and negotiations remain ongoing against a backdrop of significant across the board interest in Victorian Gold projects.

• It is the board’s view that Dart’s Gold projects would achieve enhanced valuations and attractiveness if they were jointly managed and developed in a spin-out or fully funded joint venture arrangement.

• It is likely that the company would retain an active role in directing strategy around development of these assets in the event of a commercial agreement.

Exploration Activities

• Regional Lithium exploration activity focussed in on two proposed work areas Boones and Gosport, south-west of the township of Eskdale.

• Ground work including mapping and sampling continues across the region and specifically in the focus areas of Boones and Gosport where large crystal Petalite and Spodumene have been positively identified.

• An additional Exploration Lease (EL) application has been lodged - with priority - to capture what appears to be the last of the Lithium prospective ground in the region.

• Logistics planning and drill program tenders are underway as the company progresses towards an initial drill program on multiple dykes, which we expect to be underway, by mid-October.

• Dart expects that a more detailed and comprehensive Lithium exploration update will be announced before the end of August.

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ASX Code: DTM

Key Prospects / Commodities:

GOLD

Mountain View / New Discovery - Au Fairleys - Au Rushworth – Phoenix - Au Onslow – Au Saltpetre Gap - Au

LITHIUM / TIN / TANTALUM

Glen Wills – Li-Sn-Ta Eskdale / Mitta – Li-Sn-Ta

PORPHYRY GOLD / COPPER /

MOLYBDENUM

Empress – Au-Cu Stacey’s – Au-Cu Copper Quarry: Cu+/- Au Gentle Annie: Cu Morgan Porphyry: Mo-Ag-Au Unicorn Porphyry: Mo-Cu-Ag

Investment Data:

Shares on issue: 856,614,232 L isted options: 419,830,574

Substantial Shareholders:

Top 20 Holdings: 45.6 %

Board & Management:

Managing Director: James Chirnside Non-Executive Director: Denis Clarke Non-Executive Director: Luke Robinson Non-Executive Director: Russell Simpson Company Secretary: Julie Edwards

Dart Mining NL

ACN 119 904 880

Contact Details:

4 Bryant Street, Corryong VIC 3707 Australia

James Chirnside

Phone: +61 (0)419 605 842 Email: jchirnside@dartmining.com.au

ASX Release Report for the Quarter Ended 30 June 2018

31 July 2018

Tenement Status Update

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Area (Grats)
Tenement
Name Tenement Type Unless Interest Location
Number
specified
Retention Lease
RL006615 Fairleys [2] (Application) ~340 Ha 100% NE Victoria
Retention Lease
RL006616 Unicorn [1&2] (Application) ~23,243 Ha 100% NE Victoria
EL5194 Mt. Alfred Exploration 27 100% NE Victoria
EL006277 Empress Exploration 221 100% NE Victoria
EL006300 Eskdale [3] Exploration 245 100% NE Victoria
EL006486 Mt Creek Exploration ~191 100% NE Victoria
Exploration
EL5468 Upper Murray (Granted 21/3/18) 148 100% NE Victoria
EL5315 Mitta Mitta [4] Exploration 195 100% NE Victoria
Mining
MIN006619 Mt View [2] (Application) 224 Ha 100% NE Victoria
Mining Central
MIN5246 Chinaman’s [4] 5 Ha 100% Victoria
Mining 100% Central
MIN5306 Phoenix [4] 5 Ha Victoria
Mining Central
MIN5538 Rushworth [4] 34.8 Ha 100% Victoria
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ASX Code: DTM

Key Prospects / Commodities:

GOLD

Mountain View / New Discovery - Au Fairleys - Au

Rushworth – Phoenix - Au Onslow – Au Saltpetre Gap - Au

LITHIUM / TIN / TANTALUM

Glen Wills – Li-Sn-Ta Eskdale / Mitta – Li-Sn-Ta

PORPHYRY GOLD / COPPER / MOLYBDENUM

Empress – Au-Cu Stacey’s – Au-Cu Copper Quarry: Cu+/- Au Gentle Annie: Cu

Morgan Porphyry: Mo-Ag-Au Unicorn Porphyry: Mo-Cu-Ag

Investment Data:

All tenements remain in good standing at 30 June 2018.

NOTE 1: Unicorn Project area subject to a 2% NSR Royalty agreement with (Osisko Gold Royalties Ltd) dated 29 April 2013.

NOTE 2: Areas subject to a 1.5% Founders NSR Royalty Agreement. NOTE 3: Areas subject to a 1.0% NSR Royalty Agreement with Minvest Corporation Pty Ltd (See DTM ASX Release 1 June 2016).

NOTE 4: Areas are subject to a 0.75% Net Smelter Royalty on gold production, payable to Bruce William McLennan

Shares on issue: 856,614,232 L isted options: 419,830,574

Substantial Shareholders:

Top 20 Holdings: 45.6 %

Board & Management:

Managing Director: James Chirnside Non-Executive Director: Denis Clarke Non-Executive Director: Luke Robinson Non-Executive Director: Russell Simpson Company Secretary: Julie Edwards

Dart Mining NL

ACN 119 904 880

Contact Details:

4 Bryant Street, Corryong VIC 3707 Australia

James Chirnside

Phone: +61 (0)419 605 842 Email: jchirnside@dartmining.com.au

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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

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16

Name of entity

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DART MINING NL
ABN Quarter ended (“current quarter”)
84 119 904 880 30 June 2018
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Consolidated statement of cash flows Current quarter Year to date
$A’000
(12 months)
$A’000
1. Cash flows from operating activities
144 Receipts from customers - -
1.2 Payments for
(a) exploration & evaluation (237) (425)
- -
(b) development
- -
(c) production
(d) staff costs (40) (378)
(e) administration and corporate costs (83) (517)
1.3 Dividends received (see note 3) - -
1.4 Interest received 1 3
1.5 Interest and other costs of finance paid - -
1.6 Income taxes paid - -
1.7 Research and development refunds - -
1.8 Other - -
1.9 Net cash from / (used in) operating (359) (1,317)
activities
2. Cash flows from investing activities
2.1 Payments to acquire:
- -
(a) property, plant and equipment
- -
(b) tenements (see item 10)
-
(c) investments (18)
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• See chapter 19 for defined terms 1 September 2016

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

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Consolidated statement of cash flows Current quarter Year to date
$A’000
(12 months)
$A’000
- -
(d) other non-current assets
2.2 Proceeds from the disposal of:
- -
(a) property, plant and equipment
- -
(b) tenements (see item 10)
(c) investments 10 10
- -
(d) other non-current assets
2.3 Cash flows from loans to other entities - -
2.4 Dividends received (see note 3) - -
2.5 Other (provide details if material) - -
2.6 Net cash from / (used in) investing 10 (8)
activities
3. Cash flows from financing activities
3.1 Proceeds from issues of shares 805 1,834
3.2 Proceeds from issue of convertible notes - -
3.3 Proceeds from exercise of share options - -
3.4 Transaction costs related to issues of (26) (54)
shares, convertible notes or options
3.5 Proceeds from borrowings - -
3.6 Repayment of borrowings - -
3.7 Transaction costs related to loans and - -
borrowings
3.8 Dividends paid - -
3.9 Other (provide details if material) - -
3.10 Net cash from / (used in) financing 779 1,780
activities
4. Net increase / (decrease) in cash and
cash equivalents for the period
4.1 Cash and cash equivalents at beginning of
period 244 219
4.2 Net cash from / (used in) operating
activities (item 1.9 above) (359) (1,317)
4.3 Net cash from / (used in) investing activities
(item 2.6 above) 10 (8)
4.4 Net cash from / (used in) financing activities
(item 3.10 above) 779 1,780
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• See chapter 19 for defined terms 1 September 2016

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

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Consolidated statement of cash flows Current quarter Year to date
$A’000
(12 months)
$A’000
4.5 Effect of movement in exchange rates on - -
cash held
4.6 Cash and cash equivalents at end of 674 674
period
5. Reconciliation of cash and cash Current quarter Previous quarter
equivalents $A’000 $A’000
at the end of the quarter (as shown in the
consolidated statement of cash flows) to the
related items in the accounts
5.1 Bank balances 674 244
5.2 Call deposits - -
5.3 Bank overdrafts - -
5.4 Other (provide details) - -
5.5 Cash and cash equivalents at end of 674 244
quarter (should equal item 4.6 above)
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6.	Payments to directors of the entity and their associates	Current quarter $A'000
6.1	Aggregate amount of payments to these parties included in item 1.2	66
6.2	Aggregate amount of cash flow from loans to these parties included in item 2.3	-
6.3	Include below any explanation necessary to understand the transactions included in
	items 6.1 and 6.2

7. Payments to related entities of the entity and their associates 7.1 Aggregate amount of payments to these parties included in item 1.2 7.2 Aggregate amount of cash flow from loans to these parties included in item 2.3	Current quarter $A'000 -
	-

• 7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2

• See chapter 19 for defined terms 1 September 2016

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

8. Financing facilities available Add notes as necessary for an understanding of the position 8.1 Loan facilities 8.2 Credit standby arrangements 8.3 Other (please specify)	Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 - - - - - -

• 8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.

9. Estimated cash outflows for next quarter $A’000 9.1 Exploration and evaluation 310 9.2 Development - 9.3 Production - 9.4 Staff costs 66 9.5 Administration and corporate costs 195 9.6 Other (provide details if material) - 9.7 Total estimated cash outflows 571

10. Changes in Tenement Nature of interest Interest at Interest tenements reference beginning at end of (items 2.1(b) and and of quarter quarter 2.2(b) above) location 10.1 Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced 10.2 Interests in mining tenements and petroleum tenements acquired or increased

• See chapter 19 for defined terms 1 September 2016

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Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

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

Sign here: ............................................................ Date: 31 July 2018 Company secretary

Print name: Julie Edwards

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 that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.

2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, 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. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

4. See chapter 19 for defined terms 1 September 2016

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