DART MINING NL — Investor Presentation 2010

May 20, 2010

ASX RELEASE 21 May 2010

ASX CODE DTM

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DART MINING NL ROADSHOW PRESENTATION

MAY 2010

ROADSHOW PRESENTATION

Dart is currently undertaking a Roadshow to present the latest drilling results previously reported. The presentation is attached.

SILVER ASSAY RESULTS

The following silver assay results have just been received. These results have been included in the following presentation.

From 0 to 54.4 metres – 7.9 g/t Silver From 89.5 to 98.0 metres 34.4 g/t Silver

The result of 34.3 g/t or 1 oz/tonne indicates potentially valuable by product silver may be available.

These are the only intervals analysed to date, further results will be reported as they come to hand.

ENDS –

For further information visit our website at www.dartmining.com.au or contact:

John Quayle, CEO Ph: +61 (0) 3 9621 1322

COMPETENT PERSON’S STATEMENT

Information in this report that relates to a statement of exploration results of the Company is based on information compiled by Dean Turnbull, B. App. Sc (Geol)., AIG. Mr Turnbull is a Director of Dart Mining NL and has sufficient experience relevant to the style of mineralisation and type of deposits under consideration and to the activity undertaken. He is qualified as a competent person as defined in the 2004 Edition of the “Australasian Code for Reporting of Mineral Resources and Ore Reserves” (or “JORC Code”). Mr Turnbull consents to the inclusion of this information in the form and context in which it appears in this report.

www.dartmining.com.au Page 1 of 1

Level 3, 15 Queen Street Melbourne, Victoria, 3000, Australia

TELEPHONE +61 3 9621 1322 FACSIMILE +61 3 9621 1544 EMAIL info@dartmining.com.au WEB www.dartmining.com.au ACN 119 904 880

Early success at Unicorn But more is yet to come!

May 2010

IMPORTANT NOTICE AND DISCLAIMER

The information contained in this document is disclosed to you by Dart Mining NL (ACN 119 904 880) (the "Company").

Nothing in this document shall form the basis of any contract or commitment, or constitutes investment, financial product, legal, tax or other advice. The information in this document does not take into account your investment objectives, financial situation or particular needs.

The Company has prepared this document and is not aware of any errors in this document, but does not make any recommendations or warranty, express or implied concerning the accuracy of any forward looking statements or the likelihood of achievement or reasonableness of any assumptions, forecasts, prospects or returns contained in the information. Such assumptions, forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies.

This document is intended to provide background information only and does not purport to make any recommendation upon which you may reasonably rely without taking further and more specific advice. Potential investors should make their own decision whether to purchase any share in the Company based on their own enquiries. Potential investors are advised to seek appropriate independent advice, if necessary, to determine the suitability of the investment. An investment in the Company should be considered speculative. This document is not a prospectus or other disclosure document.

DART MINING CORPORATE STRUCTURE

Dart Mining NL ACN: 119904880 ASX Code: DTM Issued Capital Shares: 77.04M Ordinary Fully Paid Options: 2.8M unlisted exercisable at 20c on/before 31 Dec 2010 21.375M listed exercisable at 20c on/before 31 May 2010 Board & Management Shareholders: Approx 620 Mr Chris Bain Non- Executive Chairman Directors: 14.5M shares (19%) Mr John Quayle Chief Executive Officer Top 20: 47.1% Mr Bernhard Hochwimmer Executive Director Market Cap: $12M (Ordinary shares at 15.5 Mr Stephen Poke Non- Executive Director cents) Mr Dean Turnbull Executive Director Cash: $750k at 31 March 2010. Mr Richard Udovenya Non- Executive Director $140k in Vic Govt exploration grants

A NEW MINING DISTRICT?

• Dart has identified a new metallogenic province in NE Victoria with potential for world class molybdenum-coppersilver (Mo-Cu-Ag) porphyries, at both its Unicorn and Morgan projects

• First results in the porphyry stockworks from a deep drillhole at Unicorn are very high grade – at 0.19% Mo and 0.15% Cu, it compares favourably with the worlds biggest and best primary Mo deposits

• The Unicorn porphyry is a very large mineralised rhyolite dome, unique in Australia, with similarities to the Climax mine (USA) primary molybdenum deposit.

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EXPLORING IN NE VICTORIA
ALBURY
VICTORIA N.S.W
CORRYONG
A region rich in infrastructure
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OUR TENEMENTS GRANTED LICENCES • Dart EL 4726

• Cudgewa EL 5058

• Buckland EL 4724

• Boebuck EL 5131

• Bunroy EL 5132

• Myrtleford EL 5123

• Mt Alfred EL 5194

TOTAL: 2,335 Km[2]

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STRUCTURAL SETTING
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UNICORN AN UNEXPLORED PORPHYRY Porphyry intrusive with resistant siliceous outcrop forming a ridge at 950m elevation - 450m above the valley floor

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UNICORN
AN UNEXPLORED PORPHYRY
Unicorn Mo Silica Cap containing dense quartz stockwork with peak 1,380 ppm molybdenum
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• UNICORN PORPHYRY DRILLING PROGRAM

• • 18 Hole drilling program completed under an Area Work Plan along accessible Ridge Lines

• • RAB Drilling over the Eastern edge of the surface Anomaly

• • Diamond Drilling into the main Anomaly >450ppm Mo

• UNICORN PORPHYRY GEOPHYSICS

• • Geophysics programme demonstrated that initial diamond drilling stopped just short of major targets

• • Geological model and world class potential of the prospect confirmed

UNICORN PORPHYRY DRILLING RESULTS 2008 TO 2010

• 2008: Open Mo mineralisation >180m depth and 0ver 400m near surface

• • Geological model and world class potential of the Prospect confirmed

• • 2010: Open Mo mineralisation (DUNDD004) confirmed > 300m from surface

• • Mo mineralised Stockwork in altered porphyry intersected throughout DUNDD004

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UNICORN
GEOLOGICAL MODEL CROSS SECTION
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• Simplified geological model cross section on Line 5,978,100mN showing planned drilling into a complex of alteration with Mo-Cu-Ag mineralised domains over a central porphyry core.

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UNICORN PORPHYRY
CURRENT DRILLING MAY 2010
Extensively mineralised – with visible Mo-Cu, multiple hydrothermal events
and alteration phases
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UNICORN FIRST ASSAY RESULTS

• Drill Hole DUNDD004 has intersected the siliceous lithocap (typically low grade) to approximately 90 metres

• From 90 metres to the current depth of close to 320 metres the hole has intersected several different intrusive and alteration phases within the porphyry with visible mineralisation throughout

• Assays have been received for the first 54.5 metres through the silica cap and then from the start of the porphyry stockworks from 89.5m to 98m

• RESULTS (additional assays will be reported when available)

Lithology	From (metres)	To (metres)	Interval (metres)	Mo %	Cu %	Ag g/t
Silica lithocap	0	54.5	54.5	0.07%	0.09%	7.9
Altered porphyry stockworks	89.5	98.0	8.5	0.19%	0.15%	34.4

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WORLD MOLYBDENUM DEPOSITS
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	Tonnes
	(million
East Kounrad (Russia) Glacier Gulch (BC) Climax (Colarado) Henderson (Colarado) Merlin (Aust) Deposit	30 125 190 138 8.7 tonnes)	0.150% 0.151% 0.158% 0.180% 0.919% Mo Grade	•	Typically primary molybdenum deposits can be mined from about 600ppm in open cut and from 1200ppm underground, many operate at significantly above resource grade
Trout Lake (BC)	50	0.138%	•	Copper provides an important by-
Kitsault (BC)	108	0.115%		product for many of the mines, however,
Red Bird (BC)	34	0.108%		the big three in the USA – Henderson,
Red Mountain (Yukon)	187	0.100%		Climax and Thompson Creek have no
Thompson Creek (Idaho) Endako (BC) Carmi (BC) Quartz Hill (Alaska)	165 336 34 793	0.084% 0.087% 0.091% 0.091%	•	meaningful copper Unicorn has an important copper and silver component
Hurdal (Norway)	200	0.078%	•	First assays from Unicorn’s porphyry
Storie Moly (BC)	101	0.078%		stockworks zone of 0.19% Mo and
Compaccha (Peru)	100	0.072%		0.15% Cu and visible mineralisation to
Mt Hope (Nevada)	966	0.068%		over 300 metres give Dart
Ruby Creek (Yukon)	413	0.063%		encouragement that Unicorn is a
Liberty (Nevada)	433	0.059%		significant discovery
Moly Mines (West Aust)	451	0.050%
Boss Mountain (BC)	63	0.047%

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MORGAN PROJECT
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• MORGAN GEOCHEMISTRY

• • Geochemistry outlined mineralised ring and identified large gold/base metals sub-ring feature to the North

• • This northern feature the focus of drilling end 2009/early 2010

MORGAN GEOPHYSICS

• Geophysics has defined a strong coincident low resistivity and high IP target

• Two holes designed to intersect the highly anomalous targets

MORGAN INTERPRETED GEOLOGY

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Visible Molybdenite intersected
within altered Porphyry in drill hole
DMMDD002 shows up to 0.175%
Mo above the Target zone
DMMDD001 intersected variably
altered sediments with anomalous
Mo, Ag, Zn suggestive of an outer
alteration zone of the intrusion
Drill hole geology and alteration of
DMMDD002 indicates proximity to
a buried intrusion within the target
zone
DMMDD001 not shown as it is off section
Conceptual Interpretative Section along DMMDD002 (320 [0] )
diamond drill design trace.
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• Visible Molybdenite intersected within altered Porphyry in drill hole DMMDD002 shows up to 0.175% Mo above the Target zone

• DMMDD001 intersected variably altered sediments with anomalous Mo, Ag, Zn suggestive of an outer alteration zone of the intrusion

• Drill hole geology and alteration of DMMDD002 indicates proximity to a buried intrusion within the target zone

BOEBUCK & BUNROY ARE THERE MORE PORPHYRYS OUT THERE?

• Stream & Soil sampling sampling shows highly anomalous:

• Cu (blue star)

• Bi (blue circle)

• Pb (red circle)

• Coincident with strong KTh alteration

SUMMARY

• Dart has discovered a new mineral province in Victoria

• Unicorn and Morgan linked in the same structural corridor

• Initial diamond drilling at Morgan suggests a deeply buried mineralised “pencil porphyry”

• At Unicorn initial shallow drilling Sept 08 followed by geophysics and detailed alteration studies enhanced interpretation for the current drill program

• Current deep drilling showing classic primary Mo & Cu mineralisation in core

• Victorian Government drilling grants awarded in Rounds 1, 2 & 3

EXPLORATION PROGRAMME

• Direct exploration expenditure 2008-2009 = $1.7 million

• Direct exploration budget 2009-2010 = $1.0 million

• Exploration programme will now focus on drilling Unicorn and Morgan with the intent of progressing to the resource definition stage

ABOUT MOLYBDENUM

• When added to steel, molybdenum enhances strength, hardenability, weldability, toughness, elevated temperature strength, and corrosion resistance. In nickel-base alloys, it improves resistance to both corrosion and high-temperature creep deformation.

• World demand is approx 200,000 tonnes per year

• About 47% of supply comes as a by-product primarily from copper mines

• Molybdenum commenced trading on the LME in Feb 2010

• Recent prices are US$38,000$40,000/tonne

www.dartmining.com.au