DATELINE RESOURCES LIMITED — Capital/Financing Update 2022

Jun 5, 2022

ASX Release 6 June 2022

DATELINE RESOURCES LIMITED

(ACN 149 105 653) ASX Code: DTR

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100 metres of 4.16g/t Au Colosseum Gold Project

Dateline Resources Limited (ASX: DTR) (Dateline or the Company) is pleased to announce it has received the final assay results for drill hole CM22-05 from the drilling program at the Colosseum Gold Project in California, US.

HIGHLIGHTS

CAPITAL STRUCTURE

Share Price (3/06/22) $0.105

Shares on issue 443 million Market Cap $46.5 million

MAJOR SHAREHOLDERS

Southern Cross Exploration NL 21.8% Mr. Mark Johnson AO 19.9% National Nominees Ltd 11.9% Stephen Baghdadi 5.9%

DIRECTORS &

• Drill hole CM22-05 assessed areas within densely drilled parts of the deposit as well as areas below the historic resource model.

• 100.6m @ 4.16g/t Au from 79.24m in CM22-05 confirmed with final assay results including

• 19.81 metres of 5.19g/t Au from 79.24 metres

• 3.05 metres of 13.78g/t Au from 80.77 metres

• 16.8 meters of 6.76 g/t Au from 112.78 meters

• 7.6 metres of 12.74 g/t Au from 132.59 metres

• 4.6 metres of 7.lOg/t Au from 158.50 metres

MANAGEMENT

Mark Johnson AO Chairman

Stephen Baghdadi Managing Director

Greg Hall Non-Executive Director

Tony Ferguson Non-Executive Director

Bill Lannen Non-Executive Director

Mark Ohlsson Company Secretary

CONTACT

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

• The Company is advanced in the estimation of a JORC-2012 compliant Mineral Resource for the Colosseum deposit.

Commenting on the drill result, Dateline's Managing Director, Stephen Baghdadi, said:

"The drilling program at the Colosseum has proven that high grade mineralisation continues below the historic resource shell. The final assay results for hole CM22-05 are significantly better than we had expected and prove that gold is contained in several of the breccia lithologies

"100 metres of 4.16g/t Au is a great result and is amplified by the fact that the high­ grade sedimentary breccia unit returned results that prove the continued grade at depth. Historic drill logs state that the sedimentary breccia unit is still present over 600m below the bottom of drill hole CM22-05 and is open at depth

"The Company is well advanced with the estimation of the Mineral Resource at Colosseum using the validated historical database"

Further details of the sampling and assaying program are provided in the JORC Table 1 information in Appendices A and B.

ASX Release 6 June 2022

Drilling Results

The drilling program, comprising five holes for 605 metres, confirmed the geology of the deposit, as informed by the original paper-based data compilation. The geologists collected information including lithology, veining, alteration, mineralisation, oxides and rock quality designation (RQD).

Samples were collected every five feet (~1.s2m) and assayed at Paragon Geochemical Laboratory in Reno Nevada. QA/QC including duplicates, standards and blanks were included in the sampling and assaying program. Highlights from the drilling program included:

Hole ID	From (m)	To (m)	Length (m)	Grade (g/t Au)
CM22-03	0	3.05	3.05	1.27
	7.62	10.67	3.05	1.14
	18.29	22.86	4.57	6.96
CM22-04	18.29	28.95	10.67	13.71
including	18.29	21.33	3.05	42.88
	70.10	71.62	1.52	2.70
	100.58	102.10	1.52	3.84
	149.34	153.92	4.57	1.17
	164.58	166.11	1.52	1.03
CM22-05	33.53	44.19	10.67	2.07
	79.24	179.87	100.6	4.16
Including	79.24	99.06	19.81	5.19
	80.77	83.82	3.05	13.78
	112.7	129.54	16.8	6.76
	132.59	140.21	7.6	12.74
	158.50	163.07	4.6	7.10

Note: Samples were collected at 5 foot intervals (~1.s2m). The results have been converted from feet to metres

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Figure 1 Colosseum pit with drill rig on ramp

ASX Release 6 June 2022

Verification Drilling Program

Dateline acquired a significant volume of hardcopy data as part of the Colosseum acquisition in 2021. All of the data was reviewed and loaded into a relational database for the first time, building the first 3D view of the mine.

The data collected by the previous operators was to a very high standard, enabling a database that reflects the deposit to be collected and analysed.

For the Company to use the historical data and report to JORC-2012 standards, a program of confirmatory drillholes was completed. These drillholes confirmed the mineralisation identified by previous operators and provided the confidence for the Mineral Resource estimate to be completed.

The Company is awaiting the full results of the program, including the deeper parts of CM22-05, drilled well below the Mineral Resource block model.

Mineral Resource Estimation and Next Steps

This data validation drilling program for the Colosseum Gold Mine was successful in verifying information compiled by the previous operators in the decade prior to 1993.

The Company has confidence that the compiled data accurately reflects the nature of mineralisation at Colosseum and will now finalise the preparation of a JORC-2012 compliant Mineral Resource estimate for the Colosseum deposit.

The Company believes that significant potential exists below the current Mineral Resource estimate. As mineralisation forms a pipe-like structure and is relatively consistent over the full depth of the model, there is excellent potential for this to continue at depth.

The Company is planning next steps for the Colosseum project that include drilling beneath the Mineral Resource model using a directional diamond rig to minimise surface disturbance and allow for multiple deviated drillholes to be drilled from the same collar position.

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Figure 2: Cross Section of the five completed drill holes with potential for deeper extension of the mineralised ore zone

ASX Release 6 June 2022

Authorised by the Dateline Board.

For more information, please contact:

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

Follow Dateline on Twitter:

Andrew Rowell White Noise Communications +61 400 466 226 andrew@whitenoisecomms.com

https://twitter.com/Dateline DTR 't#

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 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. Ore mining commenced in late 2021, with first saleable gold concentrate produced in April 2022.

The Company owns the Lucky Strike gold mill, located 50km from the Gold Links mine, within the Green Mountain Project. Ore is 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 mineralisation at depth as well as potential for rare earth elements.

Competent Person Statement

Sample preparation and any exploration information in this announcement is based upon work reviewed by Mr Greg Hall who is a Chartered Professional of the Australasian Institute of Mining and Metallurgy (CP­ IMM). Mr Hall has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to quality as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Mr Hall is a Non-Executive Director of Dateline Resources Limited and consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

ASX Release 6 June 2022

APPENDIX A- DRILLHOLE COLLAR LOCATIONS

Hole ID	Northing	Easting	Elevation m	Azimuth	Dip	Depth
CM22-01	3937346	629884.9	1666.067	0	-90	61.95
CM22-02	3937347	629902.1	1664.025	0	-90	68.66
CM22-03	3937343	629912.4	1663.385	0	-90	62.36
CM22-04	3937304	629974.2	1655.942	218	-50	215.01
CM22-0S	3937304	629974.2	1655.942	236	-50	197.41
					TOTAL	605.38 m

ASX Release 6 June 2022

Appendix B - JORC Code, 2012 Edition - Table 1 report template Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Sampling	•	Nature and quality of sampling (eg cut	•	As of 9/5/2022, Dateline Resources Limited has
techniques		channels, random chips, or specific		completed 605 meters (1,986 feet} of drilling in 5
		specialised industry standard measurement		drill holes at the Colosseum Project. All the drilling
		tools appropriate to the minerals under		was done from the surface with HQ diamond drill
		investigation, such as down hole gamma		core. Industry standard core handling and sampling
		sondes, or handheld XRF instruments, etc).		procedures were employed to ensure high quality
		These examples should not be taken as		samples.
		limiting the broad meaning of sampling.	•	Core samples were collected at 5 foot intervals.
	•	Include rerence to measures taken to	•	All core was logged for rock type, RQD, and recovery
		ensure sample representivity and the		and dispatched for assay with standard 5 foot long
		appropriate calibration of any measurement		sample intervals.
		tools or systems used.	•	Logging geologist identified zones of interest, but the
	•	Aspects of the determination of		entire hole was measured and marked up in 5 foot
		mineralisation that are Material to the		intervals. Whole core was sampled.
		Public Report.	•	Core was bagged into pre-numbered bags, and taken
	•	In cases where 'industry standard' work has		to the FEDEX Freight ofice in Las Vegas, palletized
		been done this would be relatively simple		by the Logging Geologist, covered in shrink wrap
		(eg 'reverse circulation drilling was used to		and handed over to the FE DEX dock personnel for
		obtain 1_m_samples from which 3 kg was		overnight shipping to Paragon Geochemical
		pulverised to produce a 30 g charge for fire		Laboratory in Sparks Nevada.
		assay'). In other cases more explanation	•	Samples were sent to Paragon Geochemical in
		may be required, such as where there is		Sparks, Nevada for sample preparation and assay.
		coarse gold that has inherent sampling		Samples were dried, weighed, crushed and split to
		problems. Unusual commodities or mineralisation tyes (eg submarine nodules)		obtain 250 gm. Samples were placed in ring and puck grinder to produce 85% minus 75 micron pulp.
		may warrant disclosure of detailed		This material was blended on clean cloth and
		inrmation.		packaged in paper pulp bags. Using a pulp balance,
				a 30gm sample was weighted out for traditional fire
				assay. Samples were analyzed using standard fire
				assay for gold. Overlimits were analyzed via
				gravimetric analysis.
			•	All samples followed a strict Chain of Custody.
			•	Routine QAQC samples were inserted in the sample
				runs at a rate of 20%, comprising Certified
				Reference Materials from CDN Resource
				Laboratories Ltd., and verified blank granitic
				material.
			•	Sampling practice is appropriate to the geology and
				mineralization of the deposit and complies with
				industry best practice.
Drilling	•	Drill tye (eg core, revere circulation, open­	•	The drilling program utilized surface core drilling.
techniques		hole hammer, rotary air blast, auger, Bangka, sonic, etc) and detail (eg core	•	The core drilling is being conducted with an EVERDIGM ECR 18 drill. All holes utilized triple tube
		diameter, triple or standard tube, depth of		to increase recoveries. The drilling has been
		diamond tails, face-sampling bit or other		completed by an experienced diamond drilling core
		type, whether core is oriented and i so, by		driller.
		what method, etc).

ASX Release 6 June 2022

Criteria

JORC Code explanation

Commentary

Drill sample	•	Method of recording and assessing core and	•	All drilling recoveries have been logged and
recover		chip sample recoveries and results assessed.		notated each run based on 10 foot tooling.
	•	Measures taken to maximise	•	To maximize sample recoveries, use of triple
		sample recovery and ensure		tube and long chain polymer muds were used
		representative nature of the		to increase recovery.
		samples.	•	There has been no analysis between sample
	•	Whether a relationship exists between		recoveries and grade to date .
		sample recovery and grade and whether
		sample bias may have occurred due to
		prerential loss/gain of fne/coare
		material.
Logging	•	Whether core and chip samples have	•	Core samples were geologically logged. Lithology,
		been geologically and geotechnically		veining, alteration, mineralization and oxides were
		logged to a level of detail to support		recorded in the appropriate tables of the drill hole
		appropriate Mineral Resource		database.
		estimation, mining studies and	•	Each core box was photographed dry and wet, after
		metallurgical studies.		logging of unit and structures were notated on the
	•	Whether logging i qualitative or quantitative in nature. Cre (or costean,	•	core . Geological logging of core samples is
		channel, etc) photography.		qualitative and quantitative in nature.
	•	Te total length and percentage of the relevant
		intersections logged.
Sub-sampling techniques and	•	If core, whether cut or sawn and whether quarter, hal or all core taken.	•	All drill core was sampled. Samples were placed in a heavy-duty, pre-numbered poly sample bag. Samples
sample preparation	•	I non-core, whether ri led, tube sampled, rotar split, etc and whether		were placed on pallets and secured with stretch wrap and packing tape and shipped in batches by company
		sampled wet or dry.		personnel directly to Paragon Geochemical via FedEx
	•	For all sample types, the nature,		Freight following standard chain of custody protocols.
		quality and appropriateness of the	•	Routine QAQC samples were inserted at a 20% rate
		sample preparation technique.		into the sample batches and comprised Certified
	•	Quality control procedures adopted for all		Reference Materials (CRMs) from CDN Resource
		sub-sampling stages to maximise		Laboratories Ltd. and verified blank granitic material.
		representivity of samples.	•	Rock samples sent to Paragon Geochemical in Sparks,
	•	Measures taken to ensure that the sampling is		Nevada were dried, weighed, crushed and split, with
		representative of the in situ material collected,		a split pulverized to better than 85% passing 75
		including for instance results for field		microns. Rocks samples were analyzed by standard
	•	duplicate/second-hal sampling. Whether sample sies are appropriate to the	•	30gm fire assay for gold. Sample size assessment was not conducted but used
		grain size of the material being sampled.		sampling size which is typical for gold deposits.
Quality of	•	Te nature, quality and appropriateness of	•	Samples were assayed by industry standard
assay data		the assaying and laboratory procedures used		methods by Paragon Geochemical in Sparks,
and		and whether the technique is considered		Nevada.
laboratory		partial or total.	•	Fire assays for gold were completed using
tests	•	For geophysical tools, spectrometers,		industry standard fire assay methodology.
		handheld XRF instruments, etc, the	•	External certified standards and blank material
		parameter used in determining the analysi		were added to the sample submission.
		including instrument make and model, reading
		times, calibrations fctor applied and their
		derivation, etc.
	•	Nature of quality control procedures adopted
		(eg standards, blanks, duplicates, exteral laborator checks) and whether acceptable level of accuracy (ie lack of bias) and
		precision have been established.

ASX Release 6 June 2022

Criteria			JORC Code explanation	Commentary	Commentary
Verication sampling assaying	of and	• •	Te veriication of significant interections by either independent or alterative company peronnel. Te use of twinned holes .	•	Sampling, documentation and sample submittal were under the guidance and care of Chris Osterman, PhD Geol (Registered Member SME).and Raymond Harris, Arizona RG.
		•	Documentation of primary data,	•	Geologic information was recorded directly on paper
			data entry procedures, data		drill logs developed specifically for the Colosseum Mine
			veriication, data storage (hyical		project to collect pertinent information relating to
			and electronic) protocols.		sample depths, RQD, lithology, veining, alteration,
		•	Discuss any adjustment to assay data.		mineralization, and oxides. Sample sheets containing
					sample depths, QA/QC (duplicates, standards, and
					blanks inserted in sample runs) was stored in excel
					spreadsheets.
				•	Logs were scanned and sent to database manager
					along with sample sheets for entry into MX
					Deposit, the Company's secured data
					management system available through Seequent.
Location of		•	Accuracy and quality of survey used to locate	•	All drill hole collars are surveyed using differential
data points			drill holes (collar and down-hole surveys),		Trimble R12i GPS and Trimble 57 Total Station. The
			trenches, mine workings and other locations		positions are accurate to within 10 cm x-y and height (z)
			used in Mineral Resource estimation.		to+/- 20 cm.
		•	Specication of the grid system used.	•	The holes are surveyed in the California State Plane
		•	Quality and adequacy of topographic		Zone V in feet coordinate system in feet. Hole
			control.		locations are reported in UTM WGS84 coordinate
					system in meters.
				•	Down hole survey results were provided by Oretest
					using a Reflex ACT2 camera to record core
					orientation. Initial surveys were taken at 50 feet,
					then 75 feet intervals thereafter inside the drill string
					and EOH. Outputs were provided on paper and as
					d igita I files.
Data spacing and distribution		• •	Data spacing for reporting of Eloration Result. Wether the data spacing, and ditribution is	•	Current drill holes were drilled to confirm lithological and grade boundaries established from historical drilling. Hole spacing varied depending on
			sufficient to establish the degree of geological		target.
			and grade continuity appropriate fr the	•	Data spacing and distribution is sufficient to
			Mineral Resource and Ore Reserve estimation		establish the degree of geological and grade
		•	procedure(s) and classiications applied. Wether sample compositing has been applied .		continuity appropriate for resource estimation procedure(s).
				•	No sample compositing has been applied .
Orientation	of	•	Wether the orientation of sampling achieves	•	Drill holes are planned to be drilled obliquely to near
data in relation			unbiased sampling of possible structures and		perpendicular to the known mineralized structures.
to geological			the extent to which this is known, considering		Definition of structure location is the principal goal.
structure			the deposit type.	•	Sample orientation is deemed to be
		•	If the relationship between the drilling		representative for reporting purposes.
			orientation and the orientation of key	•	No bias is considered to have been introduced
			mineralied structures is considered to have introduced a sampling bias, thi should be assessed and reported i material.		by the existing sampling orientation.
Sample		•	Te measures taken to ensure sample security.	•	All samples were taken and maintained under the
security					constant care of Dateline Resources Limited
					personnel. Samples were delivered to laboratories
					by a licensed transportation company.

ASX Release 6 June 2022

Criteria		JORC Code explanation	Commentary	Commentary
Audits or	•	Te results of any audits or reviews of sampling	•	Drill hole sampling techniques and QQC
reviews		techniques and data.		procedures have been developed and reviewed by
				Dale Sketchley, M.Sc., P. Geo. of Acuity Geoscience
				Ltd.,
			•	The QQC program has demonstrated its ability to
				catch errors.
			•	A QQC review will be completed for this program.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	JORC Code explanation		Commentary
Mineral tenement and	•	Te, reference name/number, location and ownerhip including agreements or material		• The Colosseum Mine project is located in T17N R13E Sec 10, 11, 14, 15, 22, 23 SB&M.
land tenure		issues with third parties such as joint		• All tenements are 100% owned by Dateline
status		ventures, partnerhips, overriding royalties,		Resources Limited or a wholly owned subsidiary
		native title interests, historical sites,		and there exist production-based royalties. Barrick
		wilderess or national park and		Gold is entitled to a 2.5% Net Smelter Return
		environmental settings.		royalty on all future production of any metals
	•	Te security of the tenure held at the time of		from the Colosseum Gold Mine.
		reporting along with any known impediments
		to obtaining a licence to operate in the area.
Eploration	•	Acknowledgment and appraisal of exploration by	•	Historical work was completed by various mining
done by other		other parties.		companies since 1972.
parties				• Draco Mines (1972-1974)
				• Placer Amex (1975-1976)
				• Draco Mines (1980)
				• Amselco (1982-1984
				• Dallhold Resources/Bond Gold (1986-1989
				• Lac Minerals (1989-1994)
			•	All the companies were reputable, well-known
				mining/exploration companies that followed the
				accepted industry standard protocols of the time.
Geology	•	Deposit tye, geological setting and style of	•	The Colosseum project is hosted by Proterozoic
		mineraliation.		granites, gneisses. These were intruded by Tertiary
				age rhyolitic stocks, dikes and breccias.
			•	The gold and mineralization occurs in a number of
				diferent breccia pipes with both sedimentary and
				volcanic rock fragments. Gold is associated with
				pyrite within the breccia pipes.
Drill hole	•	A summary of all information material to the	•	See Table 1 within this report for details of the
Inrmation		undertanding of the exloration results including a tabulation of the fllowing		drill hole locations.
		information for all Material drill holes:
		0_easting and northing of the drill hole collar_
		0_elevation or RL (Reduced Level_-
		elevation above sea level in metres) of
		the drill hole collar
		0_dip and azimuth of the hole_
		0_down hole length and interception depth_
		0_hole length._
	•	I the exclusion of thi information is justiied on the basi that the inrmation is not Material

ASX Release 6 June 2022

Criteria	JORC Code explanation	JORC Code explanation		Commentary
		and this exclusion does not detract/ram
		the understanding of the report, the Competent Peron should clearly explain why thi i the
		case.
Data	•	In reporting Eloration Results, weighting	•	Drill hole intersections are reported above a
aggregation method		averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-of grades are usually Material		lower exploration cut-off grade of 0.0lg/t Au and no upper cut of grade has been applied.
		and should be stated.
	•	Were aggregate intercept incorporate short
		lengths of high grade results and longer lengths
		of low grade results, the procedure used fr
		such aggregation should be stated and some
		tyical examples of such aggregations should
		be shown in detail.
	•	Te assumptions used for any reporting of
		metal equivalent values should be clearly
		stated.
Relationship between	•	Tese relationships are particularly important in the reporting of Eloration	•	Drill holes are orientated vertically and obliquely to the mineralized structures and disseminated bodies.
mineralisation widths and intercept	•	Results. Ithe geometr of the mineralisation with respect to the drill hole angle is known, it	•	Interception angles of the mineralized structures are estimated by geometries from known occurrences in the adjacent mine workings and the core drilling
lengths	•	nature should be reported. Iit i not known and only the down hole lengths		intercepts.
		are reported, there should be a clear statement
		to this effect (eg 'down hole length, true width
		not known').
Diagrams	•	Appropriate maps and sections (with scales)	•	Supporting figures have been included within the
		and tabulations of intercept should be included fr any signiicant dicovery being		body of this release.
		reported Tese should include, but not be
		limited to a plan view of drill hole collar
		locations and appropriate sectional view.
Balanced	•	Where comprehensive reporting of all	•	Representative reporting of both low and high grades
reporting		Exploration Results is not practicable,		and/or widths have been reported.
		representative reporting of both low and
		high grades and/or widths should be
		practiced to avoid misleading reporting of
		Eloration Results.
Other	•	Other exloration data, i meaningl and
substantive		material, should be reported including (but not
exploration		limited to): geological observations; geophysical
data		survey results; geochemical survey results; bulk
		samples-size and method of treatment;
		metallurgical test results; bulk density,
		groundwater, geotechnical and rock
		characteristics; potential deleterious or
		contaminating substances.
Further work	•	The nature and scale of planned further	•	At Colosseum, future work may include expanded
		work ( eg tests for lateral extensions or		drilling
		depth extensions or large-scale step-out
		drilling).

ASX Release 6 June 2022

Criteria	JORC Code explanation	JORC Code explanation	Commentary
	•	Diagrams clearly highlighting the areas of
		possible extensions, including the main
		geological interpretations and fture drilling areas, provided this inrmation i not
		commercially sensitive.