DATELINE RESOURCES LIMITED — Capital/Financing Update 2011

Jun 20, 2011

CONTO RESOURCES LIMITED STATEMENT OF COMMITMENTS

This statement is dated 23 May 2011.

The Company accepted oversubscriptions totalling $4,000,000.

The Company intends to apply the funds raised from its initial public offer as follows:

Item	Year 1	Year 2	Total
Exploration and Evaluation
Expenditure
Data Review	40,000	59,078	99,078
Field Survey	125,000	172,233	297,233
Mapping, Prospecting	120,000	100,173	220,173
Geophysics	240,000	167,319	407,319
RC/DDH Drilling	600,000	776,078	1,376,078
Sampling / Assaying	220,000	352448	572,448
Subtotal Total
	1,345,000	1,627,329	2,972,329
Payment to Sammy Resources	25,000	-	25,000
Evaluation of new projects	300,000	300,000	600,000
Administration & UnallocatedWorking Capital	50,000	50,000	100,000
Expenses of the Offer	302,671	-	302,671
TOTAL	2,022,671	1,977,329	4,000,000

The above table is a statement of current intentions as of the date of this statement. As with any budget, intervening events (including exploration success or failure) and new circumstances have the potential to affect the ultimate way funds will be applied. The Board reserves the right to alter the way funds are applied on this basis.