DATELINE RESOURCES LIMITED — Capital/Financing Update 2022

May 11, 2022

ASX Release

DATELINE RESOURCES LIMITED

(ACN 149 105 653) ASX Code: DTR

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

Wide high-grade drill intercepts at Colosseum Gold Project

Dateline Resources Limited (ASX: DTR) ( Dateline or the Company ) is pleased to announce assay results from the data validation drilling program at the Colosseum Gold Project in California, US.

HIGHLIGHTS

CAPITAL STRUCTURE

Share Price (11/05/22) $0.99

• The drilling program confirmed the lithological interpretation of historic drill data.

$43.8 million

• The drilling program assessed areas within densely drilled parts of the deposit as well as the potential below the historic resource model.

MAJOR SHAREHOLDERS

• Best results from the program include:

• 10.67m @ 13.71g/t Au from 18.29m in CM22-04

• 19.81m @ 5.19g/t Au from 79.24m in CM22-05

• The data from these holes confirms the geological model.

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

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 will now finalise the estimation of a JORC-2012 compliant Mineral Resource for the Colosseum deposit.

Commenting on the drill results, Dateline’s Managing Director, Stephen Baghdadi, said:

“Whilst holes 1-3 were largely drilled to confirm the geology of the modelled deposit, we are most excited by the results from holes 4 and 5, which were planned to assess beneath the mineralised model.

“Multiple intersections were returned from CM22-04, with the high-grade zone of 10.67m @ 13.71g/t Au returned in an area that we didn’t expect strong mineralisation. The deeper intersections highlight the potential for the deposit to continue at depth.

“The intersection of 19.81m @ 5.19g/t Au in CM22-05 indicates the broad nature of mineralisation extends beneath the previously defined mineralisation model.

“We will now progress with the estimation of the Mineral Resource at Colosseum and plan the next drilling campaign to assess the significant potential that exists in the pipe-like structure at depth.”

ASX Release 12 May 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 (~1.52m) 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	99.06	19.81	5.19
Including	80.77	83.82	3.05	13.78

Note: Samples were collected at 5 foot intervals (~1.52m). The results have been converted from feet to metres

==> picture [553 x 264] intentionally omitted <==

Figure 1: Cross Section of the five completed drill holes with assay results. View looking north, Azimuth 005

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

ASX Release 12 May 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.

==> picture [530 x 254] intentionally omitted <==

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

ASX Release 12 May 2022

Authorised by the Dateline Board.

For more information, please contact:

Stephen Baghdadi Andrew Rowell Managing Director White Noise Communications +61 2 9375 2353 +61 400 466 226 www.datelineresources.com.au andrew@whitenoisecomms.com

Follow Dateline on Twitter: 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 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 (CPIMM). 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 12 May 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
CM22-05	3937304	629974.2	1655.942	236		-50	197.41
						TOTAL	605.38 m

ASX Release 12 May 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	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 reference 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 office 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 FEDEX 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	obtain 250 gm. Samples were placed in ring and
	mineralisation types (eg submarine nodules)	puck grinder to produce 85% minus 75 micron pulp.
	may warrant disclosure of detailed	This material was blended on clean cloth and
	information.	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 type (eg core, reverse circulation, open-	• The drilling program utilized surface core drilling.
techniques	hole hammer, rotary air blast, auger,	• The core drilling is being conducted with an
	Bangka, sonic, etc) and details (eg core	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 if so, by	driller.
	what method, etc).

ASX Release 12 May 2022

Criteria	JORC Code explanation	Commentary
Drill sample	• Method of recording and assessing core and	• All drilling recoveries have been logged and
recovery	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
	preferential loss/gain of fine/coarse
	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 is qualitative or	core.
	quantitative in nature. Core (or costean,	• Geological logging of core samples is
	channel, etc) photography.	qualitative and quantitative in nature.
	• The total length and percentage of the relevant
	intersections logged.
Sub-sampling	• If core, whether cut or sawn and whether	• All drill core was sampled. Samples were placed in a
techniques and	quarter, half or all core taken.	heavy-duty, pre-numbered poly sample bag. Samples
sample	• If non-core, whether riffled, tube	were placed on pallets and secured with stretch wrap
preparation	sampled, rotary split, etc and whether	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-half sampling.	30gm fire assay for gold.
	• Whether sample sizes are appropriate to the	• 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	• The 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
	parameters used in determining the analysis	were added to the sample submission.
	including instrument make and model, reading
	times, calibrations factors applied and their
	derivation, etc.
	• Nature of quality control procedures adopted
	(eg standards, blanks, duplicates, external
	laboratory checks) and whether acceptable
	levels of accuracy (ie lack of bias) and
	precision have been established.

ASX Release 12 May 2022

Criteria		JORC Code explanation	Commentary
Verification	of	• The verification of significant intersections	• Sampling, documentation and sample submittal were
sampling	and	by either independent or alternative	under the guidance and care of Chris Osterman, PhD
assaying		company personnel.	Geol (Registered Member SME).and Raymond Harris,
		• The use of twinned holes.	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
		verification, data storage (physical	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 surveys 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 S7 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.
		• Specification 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.
			• Downhole 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
			digital files.
Data spacing		• Data spacing for reporting of Exploration	• Current drill holes were drilled to confirm
and		Results.	lithological and grade boundaries established from
distribution		• Whether the data spacing, and distribution is	historical drilling. Hole spacing varied depending on
		sufficient to establish the degree of geological	target.
		and grade continuity appropriate for the	• Data spacing and distribution is sufficient to
		Mineral Resource and Ore Reserve estimation	establish the degree of geological and grade
		procedure(s) and classifications applied.	continuity appropriate for resource estimation
		• Whether sample compositing has been applied.	procedure(s).
			• No sample compositing has been applied.
Orientation	of	• Whether 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
		mineralised structures is considered to have	by the existing sampling orientation.
		introduced a sampling bias, this should be
		assessed and reported if material.
Sample		• The 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 12 May 2022

Criteria	JORC Code explanation	Commentary
Audits or	• The results of any audits or reviews of sampling	• Drill hole sampling techniques and QAQC
reviews	techniques and data.	procedures have been developed and reviewed by
		Dale Sketchley, M.Sc., P. Geo. of Acuity Geoscience
		Ltd.,
		• The QAQC program has demonstrated its ability to
		catch errors.
		• A QAQC 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	Commentary
Mineral	• Type, reference name/number, location and	• The Colosseum Mine project is located in T17N
tenement and	ownership including agreements or material	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, partnerships, overriding royalties,	Resources Limited or a wholly owned subsidiary
	native title interests, historical sites,	and there exist production-based royalties. Barrick
	wilderness or national park and	Gold is entitled to a 2.5% Net Smelter Return
	environmental settings.	royalty on all future production of any metals
	• The 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.
Exploration	• 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 type, 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
		different 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
Information	understanding of the exploration results	drill hole locations.
	including a tabulation of the following
	information for all Material drill holes:
	o easting and northing of the drill hole collar
	o elevation or RL (Reduced Level –
	elevation above sea level in metres) of
	the drill hole collar
	o dip and azimuth of the hole
	o down hole length and interception depth
	o hole length.
	• If the exclusion of this information is justified on
	the basis that the information is not Material

ASX Release 12 May 2022

Criteria	JORC Code explanation		Commentary
	and this exclusion does not detract from
	the understanding of the report, the Competent
	Person should clearly explain why this is the
	case.
Data	• In reporting Exploration Results, weighting		• Drill hole intersections are reported above a
aggregation	averaging techniques, maximum and/or		lower exploration cut-off grade of 1.0g/t Au
methods	minimum grade truncations (eg cutting of high		and no upper cut off grade has been applied.
	grades) and cut-off grades are usually Material
	and should be stated.
	• Where aggregate intercepts incorporate short
	lengths of high grade results and longer lengths
	of low grade results, the procedure used for
	such aggregation should be stated and some
	typical examples of such aggregations should
	be shown in detail.
	• The assumptions used for any reporting of
	metal equivalent values should be clearly
	stated.
Relationship	• These relationships are particularly		• Drill holes are orientated vertically and obliquely to
between	important in the reporting of Exploration		the mineralized structures and disseminated bodies.
mineralisation	Results.		• Interception angles of the mineralized structures are
widths and	• If the geometry of the mineralisation with		estimated by geometries from known occurrences in
intercept	respect to the drill hole angle is known, its		the adjacent mine workings and the core drilling
lengths	nature should be reported.		intercepts.
	• If it is not known and only the down hole lengths
	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 intercepts should be		body of this release.
	included for any significant discovery being
	reported These should include, but not be
	limited to a plan view of drill hole collar
	locations and appropriate sectional views.
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
	Exploration Results.
Other	• Other exploration data, if meaningful 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 12 May 2022

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