DATELINE RESOURCES LIMITED — Capital/Financing Update 2022

Apr 20, 2022

Gold Links Production Update

ASX Release

DATELINE RESOURCES LIMITED

(ACN 149 105 653)

Highlights

• 12 tons of gold concentrate have been produced from the Gold Links

• Assays received for first three tons of concentrate average over 900g/t Au.

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• Offtake agreement in final stages of negotiation with three groups

• Agreement signed with Komatsu for the supply of underground mining fleet.

CAPITAL STRUCTURE

Share Price (20/04/22) $0.12 Shares on issue 438 million Market Cap $52.55 million

MAJOR SHAREHOLDERS

Dateline Resources Limited (ASX: DTR) ( Dateline or the Company ) is pleased to announce the production of saleable gold concentrate from the Gold Links mine in Colorado, USA.

During the months of March and April, the company trucked ore from the Gold Links mine and processed it at the Lucky Strike Mill (The mill). The mill operated on a 24-hour basis for four days per week using mostly diluted development ore.

To date, the Company has produced 12 tons of saleable gold concentrate.

Assays for the first three tons of concentrate have been received and are listed in the table below

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

Description	Weight	Assay (g/t Au)	Assay (g/t Ag)
Bag1	1 ton	963.71	1,695.12
Bag2	1 ton	587.05	914.18
Bag3	1 ton	1,219.52	2,124.87
Average	1 ton	923.42	1,578.06

A bigger sample size has been collected from 11 bags of concentrate including the first three and have been split equally to be assayed by two separate labs. Results will be reported once they are received.

Milling at the Lucky Strike will commence operations on a 24/7 basis in May 2022.

The Company has entered into an equipment supply agreement with Komatsu USA for the supply of a fleet of new/near new mining equipment for Gold Links. The first three items were delivered in April and the remaining two items will be delivered in late May and June 2022.

The supply of the new mining fleet and ramping up of processing rates means that the Company was able to recruit new experienced personnel and move to a 24/7 schedule for mining activities.

CONTACT

Mark Ohlsson

Phone: +61 2 9375 2353

Postal Address: P.O. Box 553 South Hurstville NSW 2221

Email: info@datelineresources.com.au

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

“The amount of concentrate produced to date has been done on a limited work week. We expect production to increase substantially once we start milling on a 24/7 basis”

“With the transition to a mine owner operator model and having our own fleet, we can start to plan the development of the balance of our substantial property holdings that make up the Gold Links group of mining claims”

“Whilst we have reached this first production milestone, we have much more to achieve at Gold Links as we install additional processing capacity and ramp up production over the remainder of 2022.”

ASX Release 21 April 2022

Processing Plant Commissioning Update

The Company is pleased to report that processing at the Company’s 100% owned Lucky Strike processing plant is progressing well, with no major issues identified. Most of the commissioning activities were undertaken using low to medium-grade development ore.

The mill was operated on a four day a week basis which necessitated almost two days out of four for shut down and start-up of the mill

The newly acquired 250tpd mill and associated flotation circuit in the process of being installed and expected to be operational in June 2022

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Figure 1 250tpd flotation cells and conditioning tank delivered to site on April 19

Offtake Agreement

To date, approximately 12 tons of concentrate has been produced for sale. The Company is in the final stages of completing a competitive tender process for offtake from Gold Links, with the Company narrowing down the potential offtake parties to three.

The first concentrate sale is expected to be completed in late April/early May with regular shipments thereafter.

ASX Release 21 April 2022

Transition to Owner Miner

The Company has made the decision to transition from a contract miner to owner miner model and has entered into an equipment supply agreement with Komatsu USA to facilitate this change.

The new/near new equipment, which includes trucks, boggers and a jumbo, will be delivered to site starting April. As an owner miner, the Company will have increased flexibility with regards to the timing of ore vs development mining, whilst the near/near new equipment is expected to provide higher productivity and availability levels than was provided by the mining contractor.

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Figure 2 Three of the five pieces of Komatsu equipment received in April

Underground Mining Update

Most of the underground mining activities since the start of the year have focused on the establishment of two development drives and the transport of development ore to Lucky Strike for commissioning activities.

The Company has recently commenced stoping activities, with high-grade ore being transported to the plant for the first time. It is expected that stoping activities will increase over the next month as we move to a 24/7 operation.

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Figure 3 Miners evaluating next round following the ~1-metre wide quartz sericite altered and oxidized vein in 9875 North.

ASX Release 21 April 2022

Underground Drilling

Underground exploration is continuing, with recent drilling targeting deeper zones to the north of previous drilling. Drill core shows zones of sulphides in line with what is expected with the 2150 vein. Samples have been sent to the lab and results are pending

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Figure 4 Section of core showing the large 3.7 metre mineralized vein material. Vein is intensely quartz sericite altered with stringers of sphalerite, galena, and pyrite sulfidation, which is where the gold is associated.

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Figure 5 Senior geologist inspecting drill rig and reviewing drill plan with drillers on active underground drill program.

ASX Release 21 April 2022

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: 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 highgrade 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 2022, 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 21 April 2022

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	• The concentrate bags have a total capacity of 2,000
techniques	channels, random chips, or specific	LBS (one short ton). The bag dimensions are 41
	specialised industry standard	inches in length and 41 inches in width. To gain a
	measurement tools appropriate to the	representative sample, we used a one-inch diameter
	minerals under investigation, such as	PVC pipe that was three feet long. The pipe was
	down hole gamma sondes, or handheld	driven down the concentrate inside the bag. As the
	XRF instruments, etc). These examples	pipe goes down concentrate is filling the pipe taking
	should not be taken as limiting the broad	a sample from all levels of the concentrate in the
	meaning of sampling.	bag. This method was done on all 4 sides and in the
	• Include reference to measures taken to	middle of the concentrate bag. The sample
	ensure sample representivity and the	produced was placed in a sample bag with an
	appropriate calibration of any	average wet weight 1.474 KG. The samples were
	measurement tools or systems used.	then transferred to the site Geologist and shipped to
	• Aspects of the determination of	KCA Laboratory in Reno Nevada for Assay.
	mineralisation that are Material to the
	Public Report.
	• In cases where ‘industry standard’ work
	has been done this would be relatively
	simple (eg ‘reverse circulation drilling was
	used to obtain 1 m samples from which 3
	kg was pulverised to produce a 30 g
	charge for fire assay’). In other cases
	more explanation may be required, such
	as where there is coarse gold that has
	inherent sampling problems. Unusual
	commodities or mineralisation types (eg
	submarine nodules) may warrant
	disclosure of detailed information.
Drilling	• Drill type (eg core, reverse circulation,
techniques	open-hole hammer, rotary air blast,
	auger, Bangka, sonic, etc) and details (eg
	core diameter, triple or standard tube,
	depth of diamond tails, face-sampling bit
	or other type, whether core is oriented
	and if so, by what method, etc).
Drill sample	• Method of recording and assessing core
recovery	and chip sample recoveries and results
	assessed.
	• Measures taken to maximise
	sample recovery and ensure
	representative nature of the

ASX Release 21 April 2022

Criteria	JORC Code explanation	Commentary
	samples.
	• Whether a relationship exists between
	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
	been geologically and geotechnically
	logged to a level of detail to support
	appropriate Mineral Resource
	estimation, mining studies and
	metallurgical studies.
	• Whether logging is qualitative or
	quantitative in nature. Core (or
	costean, channel, etc) photography.
	• The total length and percentage of the
	relevant intersections logged.
Sub-sampling	• If core, whether cut or sawn and
techniques and	whether quarter, half or all core
sample	taken.
preparation	• If non-core, whether riffled, tube
	sampled, rotary split, etc and
	whether sampled wet or dry.
	• For all sample types, the nature,
	quality and appropriateness of the
	sample preparation technique.
	• Quality control procedures adopted for
	all sub-sampling stages to maximise
	representivity of samples.
	• Measures taken to ensure that the sampling
	is representative of the in situ material
	collected, including for instance results for
	field duplicate/second-half sampling.
	• Whether sample sizes are appropriate to the
	grain size of the material being sampled.
Quality of	• The nature, quality and appropriateness of
assay data	the assaying and laboratory procedures
and	used and whether the technique is
laboratory	considered partial or total.
tests	• For geophysical tools, spectrometers,
	handheld XRF instruments, etc, the
	parameters used in determining the
	analysis 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 21 April 2022

Criteria		JORC Code explanation	Commentary
Verification	of	• The verification of significant
sampling	and	intersections by either independent or
assaying		alternative company personnel.
		• The use of twinned holes.
		• Documentation of primary data,
		data entry procedures, data
		verification, data storage
		(physical and electronic)
		protocols.
		• Discuss any adjustment to assay data.
Location of		• Accuracy and quality of surveys used to
data points		locate drill holes (collar and down-hole
		surveys), trenches, mine workings and other
		locations used in Mineral Resource
		estimation.
		• Specification of the grid system used.
		• Quality and adequacy of topographic
		control.
Data spacing		• Data spacing for reporting of Exploration
and distribution		Results.
		• Whether the data spacing and distribution
		is sufficient to establish the degree of
		geological and grade continuity
		appropriate for the Mineral Resource and
		Ore Reserve estimation procedure(s) and
		classifications applied.
		• Whether sample compositing has been
		applied.
Orientation	of	• Whether the orientation of sampling
data in relation		achieves unbiased sampling of possible
to geological		structures and the extent to which this is
structure		known, considering the deposit type.
		• If the relationship between the drilling
		orientation and the orientation of key
		mineralised structures is considered to
		have introduced a sampling bias, this
		should be assessed and reported if
		material.
Sample		• The measures taken to ensure sample
security		security.
Audits or		• The results of any audits or reviews of
reviews		sampling techniques and data.

ASX Release 21 April 2022

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
tenement and	and ownership including agreements or
land tenure	material issues with third parties such as
status	joint ventures, partnerships, overriding
	royalties, native title interests, historical
	sites, wilderness or national park and
	environmental settings.
	• The security of the tenure held at the time
	of reporting along with any known
	impediments to obtaining a licence to
	operate in the area.
Exploration done	• Acknowledgment and appraisal of exploration
by other parties	by other parties.
Geology	• Deposit type, geological setting and style of
	mineralisation.
Drill hole	• A summary of all information material to
Information	the understanding of the exploration results
	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 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
aggregation	averaging techniques, maximum and/or
methods	minimum grade truncations (eg cutting of
	high 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

ASX Release 21 April 2022

Criteria	JORC Code explanation	Commentary
	stated.
Relationship	• These relationships are particularly
between	important in the reporting of
mineralisation	Exploration Results.
widths and	• If the geometry of the mineralisation
intercept lengths	with respect to the drill hole angle is
	known, its nature should be reported.
	• 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) and tabulations of intercepts
	should be 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
reporting	Exploration Results is not practicable,
	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
exploration	not limited to): geological observations;
data	geophysical 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
	work (eg tests for lateral extensions or
	depth extensions or large-scale step-out
	drilling).
	• Diagrams clearly highlighting the areas of
	possible extensions, including the main
	geological interpretations and future drilling
	areas, provided this information is not
	commercially sensitive.