DART MINING NL — Investor Presentation 2012

Feb 15, 2012

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Potential for a world class Mo + Cu + Ag mine
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in a new Australian mineral province
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Managing Director

Feb 2012

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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.

Thi s d ocumen t i s i n t en d e d t o prov id e b ac k groun d i n orma f ti on on y l an d d oes no t purpor t t o ma k e 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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DTM ‐ INVESTMENT HIGHLIGHTS
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• Positive outlook for Molybdenum (Mo) ‐ currently@ US$33,000/t LME

• Discovered a new Australian mineralised porphyry province

• ‐

• Unicorn deposit Potentially a world class Mo + Cu + Ag porphyry

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

• Maiden JORC resource announced – Open at depth / Very low strip ratio

• Conceptual mining study to focus on production rate of 5 to 10Mtpa

• • Very positive scoping level study metallurgical results

• Further drilling planned to commence March 2011

• Strong pipeline of news catalysts and planned events

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DART MINING (ASX:DTM) UNICORN DEPOSIT
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 Community and Government support in place – Local jobs and growth

 Proposed mine site is available for mining – Unrestricted crown land

 No known native title , flora or fauna issues – Simplified approvals

 Available infrastructure – Power / Water / Roads / Established town

 Existing export logistics chain to smelters – No capital expenditure  cut Indicated and Inferred JORC resource – Open Open at depth

 Very low strip ratios – Unicorn deposit outcrops as a topographic high  Scoping study metallurgy ‐ High recoveries / saleable concentrate grades  – C as h at an b k $2 . 2 4 m illi on (1 Fe b) Next rid lling program uf lly unf ded

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PLANNED DRILLING PROGRAMS 2012
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• Phase 1 – Reverse Circulation (RC)  funded from cash reserves ‐ Fully $2.2 million at bank (1 February)

• Surface to 250 metres – Approximately 15 holes

• Move indicated JORC resource to measured – Initiates scoping study

• T arge t e d JORC resource upgra d e – Late Q2 2012  IP anomaly prospectivity ‐ Potential source of copper in Unicorn

• Phase – 2 Diamond Drilling

• 250 metres to 450 metres – Diamond tails off the Phase 1 RC drilling

• Inferred JORC resource to indicated – Enables mine design to pit floor  Approximately 10 holes – Sited in consultation with AMC Consultants

• Phase 3 – Diamond Drillin g

• 450 metres to 1250 metres – Diamond extensions off existing holes

• Confirmation that grade improves with depth – Henderson model  Approximately 4 to 6 holes – Enables exploration target to be announced

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DTM CORPORATE STRUCTURE
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ASX Code: DTM Shares on issue : ~157.5m Market cap : ~ $20 . 5m : Options 8.4m unlisted 15 cents options (expiry 31 Dec 2013) Directors : 13.1m shares (8.3%) Top 20 : 38% Cash : ~$2.24m

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ABOUT MOLYBDENUM
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ABOUT MOLYBDENUM
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Molybdenum Projected Sustained Growth

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NEW AUSTRALIAN MINERAL PROVINCE
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• Gilmore splays are

• kno w n host of major ore bodies

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• Cadia / Rid g ewa y / Nth

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• Parkes in NSW

• Benambra in Victoria

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• Gilmore suture flexes

• across into Victoria with a series of splay faults

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• DTM has 2000km2 of tenements across this structural zone

• strategic

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COMMUNITY ALIGNMENT ADVANTAGE
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PROJECT LOCATION ADVANTAGE
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ALBURY
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N.S.W
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VICTORIA CORRYONG
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INFRASTRUCTURE ADVANTAGE
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What Project Value Should Investors in Dart Mining Place on Existing Infrastructure?

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APPROVALS ADVANTAGE
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DRILL RIG
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Mineralisation outcrops at surface and extends 350 meters o t the valley oor. fl JORC resource s o i t 450 metres below surface and is open at depth. Drill tested mineralisation extends to 570 metres.

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STRIP RATIO ADVANTAGE
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_ The cross section is conceptual only. There has been insufficient exploration drilling, financial modelling 14 & mine planning to accurately define the pit shape and it is uncertain if further drilling will enable this to occur.**_

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CONCEPTUAL MINING METHOD ADVANTAGE
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_ The section is conceptual only. There has been insufficient exploration drilling, financial modelling & mine 15 planning to accurately define the pit shape and it is uncertain if further drilling will enable this to occur.**_

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CONCEPTUAL MINING METHOD ADVANTAGE
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_ The view is conceptual only. There has been insufficient exploration drilling, financial modelling & mine 16 planning to accurately define the pit shape and it is uncertain if further drilling will enable this to occur.**_

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UNICORN and HENDERSON ARE SIMILAR
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DRILL RIG
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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 f rom 250 m o t 450 m e ow sur ace b l f ) . Th e concep ua t l H en d erson s y e arge assoc a e t l T t i t d w ith mu lti p e n rus ve cen res s a so us ra e l i t i t i l ill t t d . Th e 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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CASE STUDY ‐ ENDAKO MINE
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• Unicorn Deposit – NE Victoria  Indicated resource from surface – 29Mt at 0.09% Mo Equivalent  Total resource – 105Mt at 0.07% Mo Equivalent ‐ open at depth  High recoveries achieved for Mo (92.3%) + Cu (96.1%) + Ag (82.6%  Separate saleable concentrates (51% Mo + 23% Cu/Ag) produced  Recoveries achieved at 75 micron grind – coarser grind possible  Ball mill work index confirmed as bein low to medium g

• Deposit outcrops – very low strip ratio (less than 0.3 waste : 1 ore)

• Endako Mine – Thom p son Creek (TCM : TSX) British Columbia  Endako is pure Mo production ‐ No value add from Cu and / or Ag  $0.6 billion mine expansion near complete  Proven and Probable – 340Mt at an average grade 0.046% Mo  Measured plus Indicated – 63Mt at an average grade 0.030% Mo  Mo Recoveries approximately 74%  Endako cash costs $8 to 9/lb including smelting costs

*Source Breakaway Research report on Aussie Q 5 September 2011

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COMPARISON WITH 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 /t Strip Ratio Access / Infra	Share Price $ Market Cap A$ Resource Status Tonne (M’s) Mo Equiv % Mo Grade % Cu Grade % Ag Grade /t Strip Ratio Access / Infra	Share Price $ Market Cap A$ Resource Status Tonne (M’s) Mo Equiv % Mo Grade % Cu Grade % Ag Grade /t Strip Ratio Access / Infra	Share Price $ Market Cap A$ Resource Status Tonne (M’s) Mo Equiv % Mo Grade % Cu Grade % Ag Grade /t Strip Ratio Access / Infra	Share Price $ Market Cap A$ Resource Status Tonne (M’s) Mo Equiv % Mo Grade % Cu Grade % Ag Grade /t Strip Ratio Access / Infra	Share Price $ Market Cap A$ Resource Status Tonne (M’s) Mo Equiv % Mo Grade % Cu Grade % Ag Grade /t Strip Ratio Access / Infra	Share Price $ Market Cap A$ Resource Status Tonne (M’s) Mo Equiv % Mo Grade % Cu Grade % Ag Grade /t Strip Ratio Access / Infra	Share Price $ Market Cap A$ Resource Status Tonne (M’s) Mo Equiv % Mo Grade % Cu Grade % Ag Grade /t Strip Ratio Access / Infra	Share Price $ Market Cap A$ Resource Status Tonne (M’s) Mo Equiv % Mo Grade % Cu Grade % Ag Grade /t Strip Ratio Access / Infra	Share Price $ Market Cap A$ Resource Status Tonne (M’s) Mo Equiv % Mo Grade % Cu Grade % Ag Grade /t Strip Ratio Access / Infra	Share Price $ Market Cap A$ Resource Status Tonne (M’s) Mo Equiv % Mo Grade % Cu Grade % Ag Grade /t Strip Ratio Access / Infra	Share Price $ Market Cap A$ Resource Status Tonne (M’s) Mo Equiv % Mo Grade % Cu Grade % Ag Grade /t Strip Ratio Access / Infra
		Share Price $	Market Cap A$	Resource Status	Tonne (M’s)	Mo Equiv %	Mo Grade %	Cu Grade %	Ag Grade /t	Strip Ratio	Access / Infra
		()	()			()	()	()	(g)
	Dart Mining	~$0.13	$21M	Unicorn Indicated	29	0.09	0.05	0.09	4.2	From Surface	Very Good
	NL Dart Mining	~$0.13	$21M	Resource Unicorn Total	105	0.07	0.04	0.06	3.1	From Surface	Very Good
	NL			R esource
	Moly Mines	~0.32	$123M	Spinifex Ridge	450	0.07*	0.05	0.08	1.3	Sub Surface	Very Remote
				Proven
	Aussie Q	~$0.16	$23M	Whitewash Inferred +	242	0.06**	0.026	0.12	1.54	Sub Surface	Remote
				Indicated
	Zamia Metals	~0.039	$9M	Anthony Inferred	233		0.042	‐	‐	Sub Surface	Remote

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

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DART’S MINERALISED PORPHRY PIPELINE
IS “UNDER EXPLORED”
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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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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 t h an 100 metres an d may represent t h e top o anot f h er a dj acent porp h yry system.

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HANDS ON AND COHESIVE BOARD
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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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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 / Strip ratio . < 0 3  Indicated resource 29Mt @ 0.09% Mo Equiv

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

• Separate saleable concentrates (51% Mo + 23% u C /Ag) prod u ced  Grades superior to many other ASX Moly explorers + Endako Mine BC

• Si nificant resource u rade otential with additional drillin g pg p g

• Intense IP anomaly to be drilled – potentially the source of Cu in Unicorn  Unicorn grade likely to improve with depth similar to Henderson

• V ery avoura f bl e pro ec j t a d van t ages  Power, water and roads in close proximity / established logistics chain

• Strong community and government support / available workforce

• Unrestricted crown land / no known native title, flora or fauna issues

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THANK YOU
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Competent Person Statement
Information in this report that relates to a statement of Exploration Results and Mineral Resources of the Company is based on
information compiled by Dean Turnbull B.App.Sc.(Geol) Hons. M. AIG. Mr Turnbull is a Director and full time employee of Dart
Mining NL and has sufficient experience relevant to the style of mineralisation and type of deposits under consideration and to
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~~inclusion in the report of the matters based on his information in the form and context in which it appears.~~ 25