DATELINE RESOURCES LIMITED — Capital/Financing Update 2022

May 3, 2022

Colosseum Gold Mine Drilling Completed

ASX Release 4 May 2022

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DATELINE RESOURCES LIMITED

(ACN 149 105 653) ASX Code: DTR

Highlights

• Phase 1 diamond drilling at the Colosseum Mine has been completed

• Drilling focused on confirming historical information compiled by Dateline over the past 12 months.

• Results expected to be announced in coming weeks, with a JORC-2012 Mineral Resource estimate planned for the June quarter

CAPITAL STRUCTURE

Share Price (03/05/22) $0.11.5 Shares on issue 443 million Market Cap $51.0 million

US focused gold producer, Dateline Resources Limited (ASX: DTR) ( Dateline or the Company ), is pleased to announce the completion of the Company’s first diamond drilling program at the Colosseum Gold Mine.

Objectives of drill program

Core and cuttings collected from the drilling program will be used to assess,

MAJOR SHAREHOLDERS

• The accuracy of the historical drill hole and resource data for the definition of a JORC-2012 compliant Mineral Resource estimate,

19.8% 11.9% 5.9%

• The groundwater quality to determine variances between the mined and unmined zones.

The diamond drill program consisted of 5 holes for 2200 feet.

DIRECTORS & MANAGEMENT

Mark Johnson AO Chairman

Stephen Baghdadi Managing Director

Greg Hall

Tony Ferguson

Bill Lannen

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

Dateline’s Managing Director, Stephen Baghdadi, commented:

“The database compilation of exploration, mining and water quality information suggests the mineralised zone at the Colosseum is open at depth.

“The data gathered will be used to formulate a commercial and environmentally sound plan for the Colosseum project”

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Figure 1: Diamond drill rig on site at Colosseum

ASX Release 4 May, 2022

JORC-2012 Mineral Resource Estimate

Assay results from the diamond drilling program will be compared to the resource information that has been compiled in the relational database and used to confirm the quantum of the remnant Mineral Resource. The Company has appointed an independent resource geologist to analyse the results and define a JORC-2012 compliant Mineral Resource for the project.

The Company currently envisages that the Mineral Resource estimate will be announced in the June quarter. It should be noted that the planned Mineral Resource estimate will be based on historical drilling and this current limited drill program, with the Company anticipating that upside potential will remain to be tested beyond this initial estimate.

Figure 2 shows a cross section looking north through the main breccia zone at Colosseum with the historic and planned drillholes.

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Figure 2: Colosseum Gold Mine cross-section showing proposed drilling

Water analysis

Samples were collected to assess the groundwater quality (including the assessment of sulphur crystals in both fresh and oxidised material). Distinguishing between natural background sulphate in the un-mined breccia pipe resource areas around and beneath the pit floor, and from a separate sulphate isotope fingerprint derived from milling activities in the 1980s-1990s is important for consideration of future plans for the mine.

The historical water quality analysis indicates the water has low salinity and relatively low levels of sulphides and sulphates, with groundwater currently being drawn from wells nearby for cattle.

ASX Release 4 May, 2022

Colosseum Database

Dateline geologists have spent the past 12 months meticulously compiling a modern relational database from information provided by Barrick as part of the acquisition. The vast majority of this information was transcribed from paper plans, cross sections, water analysis reports and monthly mining reports.

The information compiled from pre-mine exploration generally correlated well with the bench plans and reconciliation reports. The data tends to indicate that the grades increase with depth and the mine closed before many of these zones could be recovered.

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Figure 3: Compiled geological data from historic drillholes with historic open pits

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

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

The objective of the drilling program is the validation of the database compiled by Dateline from historical exploration and an assessment of the groundwater quality.

The assay results are expected to be announced in 4-6 weeks’ time, to be followed soon after by the announcement of a JORC-2012 Mineral Resource estimate.

ASX Release 4 May, 2022

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.

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. 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.