DART MINING NL — Interim / Quarterly Report 2018

Jan 30, 2018

ASX Release Report for the Quarter Ended 31 December 2017

31[st] January 2018

CORPORATE & EXPLORATION UPDATE

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ASX Code: DTM

Key Prospects / Commodities:

GOLD

• The Company successfully raised $1.028m in a 1:2 Rights issue with free attaching option with a strike price of $.01, expiring 28 February 2019.

• The AGM and Wodonga presentations were well received by our shareholders and the Company now has a number of new shareholders.

• The company’s tax concession dispute with AusIndustry has progressed and we hope to conclude the matter by 30 June 2018. Discussions are ongoing regarding the outstanding disputed activities.

• The company was able to complete its acquisition of its NMV JV assets.

• Lithium JV discussions continued with a number of parties, but at this early exploration stage the company is comfortable progressing activities internally so as to retain as much value as is possible for the future.

• Lithium exploration activity progressed with field crews identifying, mapping, and sampling some of the larger dykes that have been so far uncovered.

• We expect some sample results from assays over the next few weeks.

• A helicopter aerial survey over the company’s Lithium tenements will begin towards the end of January and is expected to last about 3 days. The purpose of the survey is to try to identify larger tonnages and particularly in the southern area where on-ground work has been limited.

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

LITHIUM / TIN / TANTALUM

Empress – 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: 635,400,646 Listed options: 205,742,632

Substantial Shareholders:

Top 20 Holdings: 39.72 %

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

Contact Details:

4 Bryant Street, Corryong VIC 3707 Australia

James Chirnside

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

Visit our webpage: www.dartmining.com.au

Tenement locations as at 31 December 2017

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Tenement Status

	Tenement Number	Name	Tenement Type	Area (Grats) Unless specified	Interest	Location
	RL006615	Fairleys2	RL(Application)	~340 Ha	100%	NE Victoria
	RL006616	Unicorn1&2	RL (Application)	~23,243 Ha	100%	NE Victoria
	EL5194	Mt. Alfred	Exploration	27	100%	NE Victoria
	EL006277	Empress	Exploration	221	100%	NE Victoria
	EL006300	Eskdale3	Exploration	245	100%	NE Victoria
	EL006486	Mt Creek	EL(Application)	~191	100%	NE Victoria
	EL5468	Upper Murray	Exploration	148	100%	NE Victoria
	EL5315	Mitta Mitta4	Exploration	195	100%	NE Victoria
	MIN006619	Mt View2	Mining (Application)	224 Ha	100%	NE Victoria
	MIN5246	Chinaman’s4	Mining	5 Ha	100%	Central Victoria
	MIN5306	Phoenix4	Mining	5 Ha	100%	Central Victoria
	MIN5538	Rushworth4	Mining	34.8 Ha	100%	Central Victoria

All tenements remain in good standing at 31 December 2017.

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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

DART MINING NL

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ABN Quarter ended (“current quarter”)

84 119 904 880 31 December 2017

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date
		$A’000	(6 months)
			$A’000
1.	Cash flows from operating activities
144	Receipts from customers	-	-
1.2	Payments for
	(a) exploration & evaluation	(69)	(105)
	(b) development	-	-
	(c) production	-	-
	(d) staff costs	(107)	(209)
	(e) administration and corporate costs	(276)	(349)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	1	1
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	(451)	(662)
	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	-	-

• 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

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter	Year to date
		$A’000	(6 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	999	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	(17)	(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	982	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	9	228
4.2	Net cash from / (used in) operating
	activities (item 1.9 above)	(451)	(662)
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)	982	1,001
4.5	Effect of movement in exchange rates on	-	-
	cash held
4.6	Cash and cash equivalents at end of	540	549
	period

• See chapter 19 for defined terms

1 September 2016

Page 2

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 540 9
5.2 Call deposits - -
5.3 Bank overdrafts - -
5.4 Other (provide details) - -
5.5 Cash and cash equivalents at end of 540 9
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 51 6.2 Aggregate amount of cash flow from loans to these parties included - in item 2.3

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• 6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2

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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

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

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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

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

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9.	Estimated cash outflows for next quarter	$A’000
9.1	Exploration and evaluation		200
9.2	Development		-
9.3	Production		-
9.4	Staff costs		110
9.5	Administration and corporate costs		210
9.6	Other (provide details if material)		-
9.7	Total estimated cash outflows		520

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 January 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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