DART MINING NL — Interim / Quarterly Report 2018

Apr 29, 2018

ASX Release Report for the Quarter Ended 31 March 2018

30 April 2018

Corporate Activities

Innovation Australia Progress

The company recently met with the Department and their legal advisors.

Dart has reached an agreement to settle the matter with regard to the 2011/2012 year and following years under dispute.

While there are several steps remaining to settle this with the Administrative Appeals Tribunal, the matter is concluded.

The next step will be to respond the Australian Tax Office with regard to any necessary payment. We do not expect this to be a complex or costly matter.

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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

Non-Executive Director Appointment - Dr. Denis Clarke

As reported in ASX release dated March 14[th] , 2018, Dr. Denis Clarke has been appointed to the board. Dr. Clarke brings a wealth of Technical and Corporate experience to the board at a critical time of transition for the company.

Exploration Update

For the information of shareholders, a further progress report following on from Dart’s ASX release on March 21[st] , is expected to be available by Friday May 11[th] .

Tenement Status Update

EL006486 (Mt Creek) was granted on 19 March 2018. This EL covers an additional Lithium prospective area identified by the company from nine months ago.

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enement Area (Grats)
Name Tenement Type Interest Location
Number Unless specified
Retention Lease
L006615 Fairleys [2] (Application) ~340 Ha 100% NE Victoria
Retention Lease
L006616 Unicorn [1&2] (Application) ~23,243 Ha 100% NE Victoria
5194 Mt. Alfred Exploration 27 100% NE Victoria
006277 Empress Exploration 221 100% NE Victoria
006300 Eskdale [3] Exploration 245 100% NE Victoria
006486 Mt Creek Exploration ~191 100% NE Victoria
Upper Exploration
5468 Murray (Granted 21/3/18) 148 100% NE Victoria
5315 Mitta Mitta [4] Exploration 195 100% NE Victoria
Mining
IN006619 Mt View [2] (Application) 224 Ha 100% NE Victoria
IN5246 Chinaman’s [4] Mining 5 Ha 100% entral Victoria
IN5306 Phoenix [4] Mining 5 Ha 100% entral Victoria
IN5538 Rushworth [4] Mining 34.8 Ha 100% entral Victoria
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All tenements remain in good standing at 31 March 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).

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: 641,717,125 Unlisted options: 205,742,632

Substantial Shareholders:

Top 20 Holdings: 44.45 %

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

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

Vi it b d t i i

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 31 March 2018
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Consolidated statement of cash flows Current quarter Year to date
$A’000
(9 months)
$A’000
1. Cash flows from operating activities
144 Receipts from customers - -
1.2 Payments for
(a) exploration & evaluation (83) (188)
- -
(b) development
- -
(c) production
(d) staff costs (129) (338)
(e) administration and corporate costs (85) (434)
1.3 Dividends received (see note 3) - -
1.4 Interest received 1 2
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 (296) (958)
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)
- -
(d) other non-current assets
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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
(9 months)
$A’000
2.2 Proceeds from the disposal of:
- -
(a) property, plant and equipment
- -
(b) tenements (see item 10)
- -
(c) investments
- -
(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 - (18)
activities
3. Cash flows from financing activities
3.1 Proceeds from issues of shares - 1,029
3.2 Proceeds from issue of convertible notes - -
3.3 Proceeds from exercise of share options - -
3.4 Transaction costs related to issues of - (28)
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 - 1,001
activities
4. Net increase / (decrease) in cash and
cash equivalents for the period
4.1 Cash and cash equivalents at beginning of
period 540 768
4.2 Net cash from / (used in) operating
activities (item 1.9 above) (296) (958)
4.3 Net cash from / (used in) investing activities
(item 2.6 above) - (18)
4.4 Net cash from / (used in) financing activities
(item 3.10 above) - 1,001
4.5 Effect of movement in exchange rates on - -
cash held
4.6 Cash and cash equivalents at end of 244 793
period
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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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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 244 540
5.2 Call deposits - -
5.3 Bank overdrafts - -
5.4 Other (provide details) - -
5.5 Cash and cash equivalents at end of 244 540
quarter (should equal item 4.6 above)
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6. Payments to directors of the entity and their associates 6.1 Aggregate amount of payments to these parties included in item 1.2 6.2 Aggregate amount of cash flow from loans to these parties included in item 2.3	Current quarter $A'000
	65
	-

• 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 Current quarter associates $A'000

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

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 117 9.5 Administration and corporate costs 180 9.6 Other (provide details if material) - 9.7 Total estimated cash outflows 607

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: 30 April 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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