DATELINE RESOURCES LIMITED — Capital/Financing Update 2021

Jul 22, 2021

ASX Release

DATELINE RESOURCES LIMITED

(ACN 149 105 653) ASX Code: DTR

==> picture [72 x 67] intentionally omitted <==

$4.1 million equity raise to accelerate US programs

Highlights

• $4.1 million raised via a Placement to institutional and sophisticated investors at $0.09 per share;

• Directors to participate in the raising, subject to shareholder approval;

• Dateline well-funded with $10.5m to accelerate programs at both Gold Links and Colosseum.

CAPITAL STRUCTURE

Share Price (20/7/21) $0.105 Shares on issue 381 million Market Cap $40 million

MAJOR SHAREHOLDERS

DIRECTORS & MANAGEMENT

Mark Johnson AO Chairman

Stephen Baghdadi Managing Director

Greg Hall Non-Executive Director

Tony Ferguson Non-Executive Director

Bill Lannen Non-Executive Director

John Smith Company Secretary

US gold developer, Dateline Resources Limited (ASX: DTR) ( Dateline or the Company ) is pleased to announce that it has received firm commitments to raise approximately $4.1 million pursuant to a placement of 45,555,555 new shares in the Company (each, a Share ) at $0.09 per new Share ( Placement ).

The Company has received these firm commitments from a number of sophisticated and professional investors, including from both new investors and existing Shareholders. The Company's Managing Director, Stephen Baghdadi, and NonExecutive Director Tony Ferguson have also committed to apply for $208,000 and $100,000 respectively worth of Shares under the Placement, subject to Shareholder approval[1] .

The Capital raise was managed by PAC Partners.

Use of Proceeds

The funds raised under the Placement will be used by the Company to:

• Complete an extensive core drilling program at the Company's recently acquired Colosseum Gold Mine (Colosseum) located in San Bernardino County, California.

• Conduct a soil sampling program to evaluate the Rare Earths potential at the southern end of the mining claims at Colosseum where the USGS has identified a coincident Thorium and Potassium anomaly;

• Pay the costs of the Raise and general working capital purposes

In relation to the Placement, Dateline’s Managing Director, Stephen Baghdadi, said:

CONTACT John Smith Phone: +61 2 9375 2353 Postal Address: P.O. Box 553 South Hurstville NSW 2221 Email: info@datelineresources.com.au

" We are pleased with the level of support from new and existing shareholders as we progress our strategy of becoming a US gold producer.

“With underground development and drilling currently underway at Gold Links in Colorado and planning advanced for our first field program at Colosseum in California, we are looking forward to a productive six months.

“With a cash balance in excess of $10.5 million post placement, we now have the flexibility to accelerate the Colosseum field program as we continue to advance the development our Colorado assets towards a decision to mine at Gold Links by the end of 2021.”

1 The Company will despatch the requisite meeting documents to Shareholders in coming days for a meeting to be held in late August or early September 2021.

ASX Release 23 July 2021

Placement Details

The issue price of $0.09 per new Share represents a discount of approximately 14.3% to the last traded price of Shares on ASX on Tuesday, 20 July 2021 of $0.105.

The issue date for the new Shares (other than the new Shares to be issued to Directors[2] ) to be issued under the Placement is expected to be Friday 30 July 2021.

The Shares will be issued under the Placement in accordance with the Company's available placement capacity under ASX Listing Rule 7.1. This issue will utilise 80.1% of that available capacity.

This announcement has been authorised for release on ASX by the Company's Board of Directors.

For more information, please contact:

Stephen Baghdadi Managing Director +61 2 9375 2353 www.datelineresources.com.au

Follow Dateline on Twitter:

==> picture [20 x 16] intentionally omitted <==

https://twitter.com/Dateline_DTR

About Dateline Resources Limited

Dateline Resources Limited (ASX: DTR) is an Australian publicly listed company focused on gold mining and exploration in North America. The Company owns 100% of the Gold Links and Green Mountain Projects in Colorado, USA and has an agreement to acquire 100% of the Colosseum Gold Mine in California.

The Gold Links Gold Mine is a historic high-grade gold mining project where over 150,000 ounces of gold was mined from high-grade veins. Mineralisation can be traced on surface and underground for almost 6km from the Northern to the Southern sections of the project. The Company aims to delineate sufficient Mineral Resources to commence a small high-grade, low-cost operation by the end of 2021.

The Company owns the Lucky Strike gold mill, located 50km from the Gold Links mine, within the Green Mountain Project. It is proposed that ore from Gold Links would be transported to Lucky Strike for processing.

The Colosseum Gold Mine is located in the Walker Lane Trend in East San Bernardino County, California and produced approximately 344,000 ounces of gold (see ASX release 15 March 2021). Significant potential remains for extension to mineralization at depth.

2 The Shares to be issued to Mr Baghdadi and Mr Ferguson will be issued subject to Shareholder approval and after the meeting in accordance with the ASX Listing Rules.