DART MINING NL — Investor Presentation 2011

Nov 21, 2011

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Managing Director Nov 2011

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DISCLAIMER
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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.

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Unicorn – Mo + Cu + Ag Porphyry
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• Strong community and Government support

• Unrestricted Crown land - available for mining

• Favourable project location and infrastructure – power, water, roads

• Existing support town within 30kms of Unicorn – available workforce

• Established logistics chain to market

• Open cut Indicated and Inferred JORC resource – open at depth

• High recoveries plus saleable grades of concentrates at 75 micron grind

• Cash at bank $1.3 million plus $1.5 million of underwritten options

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DTM - INVESTMENT HIGHLIGHTS
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• Positive outlook for Molybdenum (Mo) - currently@ US$30,000/t LME

• Discovered a potentially world class Mo + Cu + Ag porphyry deposit

• Strong similarities to Henderson a world class Mo mine in Colorado

• Maiden JORC resource announced – Open at Depth

• Total resource – 105Mt at 0.07% Mo equivalent

• Indicated resource from surface – 29Mt at 0.09% Mo equivalent

• Resource grade > many other Australian Mo explorers

• Indicated and Inferred resource grade > Endako Mine in British Columbia

• Very positive scoping study metallurgical results

• High recoveries achieved for Mo (92.3%) + Cu (96.1%) + Ag (82.6%) to concentrate

• Separate saleable concentrates (51% Mo + 23% Cu/Ag) produced

• Recoveries achieved at 75 micron grind – coarser grind appears achievable

• Ball mill work index confirmed as being low to medium

• Lowest strip ratio anticipated in first 5 years of Open Cut mining

• Strong pipeline of news flow

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CORPORATE STRUCTURE
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ASX Code: DTM 15.4 million 10 cents options Shares on issue: ~142m Fully Written by Bell Potter Market cap: ~$18m : Options 15.4m listed exercisable at 10c (31 Dec 2011) 8.4m unlisted exercisable at 15c (31 Dec 2013) Directors: 11m shares (7.9%) Top 20: 38.5% Cash: ~ $2 . 8m (assuming underwriting of options)

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BOARD AND MANAGEMENT
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• Lindsay Ward –Managing Director

• Experienced senior executive having worked at CEO and GM level across the Mining, Power Generation, Mineral Processing, Ports and Rail industries

• Chris Bain – Chairman

• Well regarded corporate advisor who has been instrumental in a range of resource based acquisitions, IPOs and capital raisings. Chris is also a qualified geologist & mineral economist

• Dean Turnbull – Executive Director

• Instrumental in identifying the prospectively of Dart Mining’s tenements and leads the Corryong based exploration team. Extensive exploration and mine geology experience

• Stephen Poke – Non-Executive Director

• Experienced resources industry executive with a strong focus on mining and exploration drilling

• Richard Udovenya – Non-Executive Director

• Specialises in corporate, corporate governance and commercial law in the natural resources sector with a focus on ECM activities, including IPOs for ASX and AIM listings. Legal adviser to Australian and international companies operating in Australia, Africa and South America

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ESTABLISHED INFRASTRUCTURE
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• Established

infrastructure

• Hydro power

• Available water

• Support town

• Sealed roads

• Sealed airport

• Rail transport

• Very supportive community

• Strong Victorian Government support

• 3 drilling grants

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ALBURY
N.S.W
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VICTORIA CORRYONG
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LOW STRIP RATIO - ORE BODY OUTCROPS
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DRILL RIG
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Mineralisation outcrops at surface and extends below Valley floor. Known mineralisation open at depth beyond 450 metres from surface. . Valley floor 350 metres below surface

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NO RESTRICTIONS - OPEN CUT MINING
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• Very strong Community and Government support

• Unicorn deposit is located within Unrestricted Crown Land

• Bendigo and Stawell gold mines developed within Unrestricted Crown Land

• Will not impact on prime agricultural land

• No known DSE flora or fauna overla s within the Unicorn area y

• No known native title issues or previous claims

• Open cut mine water management

• Unicorn is “dry” which minimises water management issues

• Acid mine drainage risk is relatively low due to style of mineralisation

• Simple single drainage system surrounds Unicorn deposit

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VERY STRONG COMMUNITY SUPPORT
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UNICORN and HENDERSON ARE SIMILAR
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Figure 1. Unicorn Mineral Resource (Left) showing the 5,978,100mN cross section showing the M1, M2 and M3 Grade Zones and the Indicated Mineral Resource area from surface to 600m RL (approximately 250m below surface) and the Inferred Mineral Resource between 600 mRL and 400 mRL (approximately from 250m to 450m below surface). The conceptual Henderson style Target associated with multiple intrusive centres is also illustrated. The Henderson Mine Geological cross section (Right) at the same scale (Modified composite section compiled from: Wallace 1978-1995,Seedorf & Einaudi 2004 and Banks 2009).

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UNICORN Mo + Cu + Ag RESOURCE
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JORC	JORC	TONNAGE (Mt)	TONNAGE (Mt)	Mo Cutoff (ppm)	Mo Cutoff (ppm)	Mo (ppm)	Mo (ppm)	Cu (ppm)	Cu (ppm)	Ag (g/t)	Ag (g/t)	Mo Eq1 (ppm)
CLASSIFICATION
INDICATED		29		200		500		900		4.2		900
INFERRED		76		200		350		450		2.7		570
TOTAL		105		200		390		570		3.1		660
JORC CLASSIFICATION	Mo Cutoff Grade (ppm)		GRADE ZONE		TONNES (Mt)		Mo (ppm)		Cu (ppm)		Ag (g/t)	Mo Eq (ppm)
INDICATED	200		M1		27.5		500		930		4.3	900
INDICATED	200		M2		1.3		620		220		1.2	720
TOTAL INDICATED RESOURCE					28.8		500		900		4.2	900
INFERRED	200		M1		8.9		500		540		2.8	750
INFERRED	200		M3		11.1		530		300		2.1	690
INFERRED	200		INT		56.0		290		470		2.8	520
TOTAL INFERRED RESOURCE					76.0		350		450		2.7	570

Unicorn deposit - significant resource upgrade potential with additional drilling – wall rock and surrounding breccia are mineralised with good grades of Mo, Cu and Ag intersected previously. These mineralised zones have not been included in the maiden resource due to drill spacing being too broad. Note 1: Based on relative value (with reference to the average price of each metal in the 3 months 1 July to 30 September 2011 listed on the LME for - Mo US$33,127 per tonne / Cu US$9061 per tonne / Ag US$38.90 per ounce.

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UNICORN NORTH – SOUTH SECTION
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PROVEN STRUCTURAL SETTING
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• Lachlan fold belt is a

known host of major ore bodies

• Cadia / Ridgeway / Nth Parkes in NSW

• Benambra in Victoria

• Gilmore suture flexes across into Victoria with a series of splay faults

• Proven mineralisation

• Dart’s tenements lie across this strategic structural zone

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DTM TENEMENTS
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• GRANTED LICENCES

• • Dart EL 4726

• • Cudgewa EL 5058

• • Buckland EL 4724

• • Boe b uc k EL 5132

• • Bunroy EL 5131

• • Mt Alfred EL 5194

• TOTAL: 2,400 Km[2]

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CASE STUDY - ENDAKO MINE
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• Thompson Creek Metals (TCM:TSX) own 75% of Endako Mine in British Columbia

• $500 million mine expansion underway / Multi pit operation

• Proven and Probable – 311Mt at an average grade 0.046% Mo

• Measured plus Indicated – 88Mt at an average grade 0.034% Mo

• Endako is pure Mo production - No value add from Cu or Ag

• Unicorn Deposit

• Total resource – 105Mt at 0.07% Mo Equiv - open at depth

• Indicated resource from surface – 29Mt at 0.09% Mo Equiv

• High recoveries achieved for Mo (92.3%) + Cu (96.1%) + Ag (82.6%)

• Significant resource upgrade potential with further drilling

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UNICORN COMPARISON WITH
OTHER ASX MOLY EXPLORERS
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	Share Price ($)	Market Cap (A$)	Resource Status	Tonne (M’s)	Mo Equiv (%)	Mo Grade (%)	Cu Grade (%)	Ag Grade (g/t)	Strip Ratio	Access / Infra
Dart Mining NL	~$0.13	$18M	Unicorn Indicated Resource	29	0.09	0.05	0.09	4.2	From Surface	Very Good
			Unicorn Total Resource	105	0.07	0.04	0.06	3.1	From Surface	Very Good
M l o y Mines	0 405 ~ .	$156M	S i if p n ex Ridge Proven	450	0 07* .	0 05 .	0 08 .	1 3 .	S b u Surface	V ery Remote
Aussie Q	~$0.20	$29M	Whitewash Inferred + Indicated	242	0.06**	0.026	0.12	1.54	Sub Surface	Remote
Zamia Metals	~0.067	$16M	Anthony Inferred	233		0.042	-	-	Sub Surface	Remote

Unicorn deposit - significant resource upgrade potential with additional drilling – wall rock and surrounding breccia are mineralised with good grades of Mo, Cu and Ag intersected previously. These mineralised zones have not been included in the maiden resource due to drill spacing being too broad.

• Source – The Australian Mining review Aug 2011 / ** Source – Breakaway Research Aussie Q Resources 5 Sept 2011

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MOLYBDENUM - INDUSTRIAL USES
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• Adds strength, hardness and toughness to steel

• Increases corrosion resistance in petrochemical industry pipework

• Acts as a catalyst to remove sulphur / impurities from crude oil

• Growing importance in automotive and aerospace industries

• New age metal with strong potential for use in renewable energy � “ Hydrogen economy ” � Solar panels

• Nano technology applications

• Growing market (220,000 tpa) with shortages predicted

• Predicted growth 5% year on year

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DART’S MINERALISED PORPHRY PIPELINE
“UNDER EXPLORED”
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PROJECT	Regional Geochem	Soil Geochem	On Ground Mapping	Geophysics Aerial	Geophysics Ground	Drilling
Unicorn	�	�	�	�	�	�
Nth Mammoth	�	x	�	�	x	Limited
Morgan	�	�	x	�	�	Limited
Boebuck	�	�	x	�	x	x
Bunroy	�	�	x	�	x	x
Dart Pluton String	x	x	x	�	x	x
Dinner Creek	x	x	x	�	x	x
Six Other Targets	�	x	x	�	x	x

Colorado’s Climax and Henderson primary Mo mines as well as other world wide mineralised porphyry's usually occur in clusters

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CATALYSTS / NEWS FLOW
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Q4 Quarter 1 Quarter 2 Quarter 3 Quarter 4
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Regional X
Geochemistry
Appoint Drilling X
Contractor
Cultural Heritage X
Survey
Drilling X
Commences
Tasmania Uni X
Unicorn Study
IP Anomaly X
Drill Results
Progressive Drill X X X X
Results
Resource Upgrade X
Unicorn Depth X
Geophysics
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UNDRILLED UNICORN - 3D IP ANOMALY
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Red zone indicates significant chargeable anomaly. Potential source of late stage copper mineralisation at Unicorn. Located on NW flank of main porphyry deposit at depth of less than 100 metres and may represent the top of another adjacent porphyry system.

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SUMMARY
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• DTM has discovered a new mineralised porphyry province

• Largely underexplored but with strong pipeline of porphyry targets

• Strong similarities to Henderson a world class primary Mo mine

• Unicorn Deposit - classic mineralised porphyry

• Total resource 105Mt @ 0.07% Mo Equiv

• Indicated resource 29Mt @ 0.09% Mo Equiv

• High recoveries achieved for Mo (92.3%) + Cu (96.1%) + Ag (82.6%)

• � u u ced Separate saleable concentrates (51% Mo + 23% C /Ag) prod

• Grades superior to many other ASX Moly explorers + Endako Mine BC

• Significant resource upgrade potential with additional drilling � Unicorn grade likely to improve with depth similar to Henderson

• Very favourable project parameters

• Low strip ratio – deposit outcrops

• Hydro power and water in close proximity / established logistics chain

• Strong community and government support / available workforce

• Unrestricted crown land is available for mining

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~~inclusion in the report of the matters based on his information in the form and context in which it appears.~~ 23