DATELINE RESOURCES LIMITED — Capital/Financing Update 2022

Apr 13, 2022

ASX Release

DATELINE RESOURCES

LIMITED

(ACN 149 105 653)

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Colosseum Rare Earths Genetically Linked to Mountain Pass REE Mine, Expert Advisors Appointed

Highlights

• Rare Earth Element (REE) and Carbonatite experts, Dr Anthony N. Mariano, PhD. and Mr Anthony Mariano Jr have now been appointed as Senior Advisors to the Company.

• The two experts have been associated with the Mountain Pass REE mine for over 50 years

CAPITAL STRUCTURE

Share Price (13/04/22) $0.12

$52.0 million

MAJOR SHAREHOLDERS

• Since September of 2021, Messrs Mariano have confirmed:

• The USGS radio metric signature at the Colosseum mine is 3-5 times background reading

• Outcrops at the Colosseum mine are genetically related to the geological events that created the Mountain Pass REE mine

• A follow up program of detailed structural mapping, sampling, and petrography will be completed in Q2 2022

Dateline Resources Limited (ASX: DTR) ( Dateline or the Company ) is pleased to announce the appointment of REE and Carbonatite experts, Dr Anthony N. Mariano, PhD. and Mr Anthony Mariano Jr to advise on REE exploration of the Colosseum mine area.

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 Mountain Pass REE mine is located ~10km south-east of the Colosseum mine. The Mountain Pass REE mine is the only operating REE mine in the USA. Messrs Mariano have been mapping, sampling and advising on REEs in the Mountain Pass - Colosseum area for over 50 years.

Commenting on the REE potential of the Colosseum Mine Dr. Mariano, PhD, said,

“Realizing the close relationship between mineralized carbonatite bodies at the Mountain Pass mine and their genetically related alkaline rocks, the need for further exploration in the Mountain Pass-Colosseum corridor is obvious and cannot be over emphasized and we look forward to working with Dateline on the Colosseum project.”

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Figure 1. Looking north showing ~10km between Colosseum and Mountain Pass

ASX Release 14, April 2022

About Messrs Mariano

Anthony N. Mariano, PhD, and Anthony Mariano (Jr.) are mineral exploration geologists. They work as a team and specialize in the geology and mineralogy of rare elements on a world level. They have worked extensively in the field and in the laboratory for more than 50 years and in more than 50 countries. Their emphasis is on geology and mineralogy in the evaluation of economic mineral deposit potential and ranking of specialties metals and rare earth element (REE) deposits. They work in close collaboration with mineral processing specialists to help refine ore processing.

They have field experience in multiple countries in North and South America, Africa, and Asia. In addition to their expertise in REEs, niobium and tantalum, their commodity experience includes gold, platinum, iron, copper, tin, tungsten, and phosphates in over 75-targeted mineral deposits. Expertise in laboratory analytical techniques used for mineral deposit evaluation includes petrography, cathodoluminescence microscopy, scanning electron microscopy/energy dispersive x-ray analysis, x-ray diffraction, electron microprobe analysis, and bench scale mineral processing techniques.

They have extensive experience with the Mountain Pass mine in south-eastern California, located ~10km to the south of the Colosseum mine, one of the few producing REE deposits outside of China. Anthony Sr. was the chief consulting geologist at Mountain Pass for over a decade during the time when Mountain Pass was the chief producer of REEs to the world market.

In more recent years, they have continued to consult to the current owners of the Mountain Pass REE mine (MP Materials) drawing on their extensive knowledge of the surrounding geology and ore mineralogy.

Mountain Pass REE mine is the only operating REE mine in the USA and MP Materials major asset. MP Materials is listed on the NYSE and has a market capitalisation of over US$9 billion.

Radiometric anomalies

In July 2021, Dateline announced a review of USGS geophysics data indicated anomalous radiometric anomalies trend towards Colosseum from the Mountain Pass Rare Earth Mine located south of Colosseum gold mine. The survey shows a marked increase in radioactivity relative to normal crustal rocks. The trends are oriented approximately N15°W and persist directionally toward the Mountain Pass REE mine approximately 10km to the southeast (Figure 2).

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Figure 2. Airborne Radiometric Thorium anomaly trends from USGS geophysical data. Note the directional relationship between the Colosseum gold mine and the Mountain Pass REE mine.

ASX Release 14, April 2022

The Company retained Messrs Mariano to undertake a brief field program to measure radiometric readings and collect samples for analyses. A brief field investigation was conducted in September 2021 to measure ground radiometric readings and observe the rock units associated with the trends within the Colosseum claims. Some limited geochemical sampling was also conducted.

The ground radiometric measurements taken in the field confirmed the USGS airborne data of the southern ridge as being the source of the airborne radiometric anomaly. Along the ridgetop that extended to the south from the mine pit, readings were 70-100 µR/h, well above the background readings of 18-20 µR/h, confirming the anomaly demonstrated in the airborne data.

Samples

Eight samples were collected in the field during two site visits (Figure 3). Two samples (COR-1 and COR-2) were collected from the mine breccia ore rock to investigate the potential presence of the REE mineral monazite. Monazite was previously reported by USGS geologists in the mine rock from the breccia pipes. The breccia samples include one boulder located on the south rim of the mine pit and one boulder from the waste rock (tailings) area. Two samples (COR-3 and COR-4) were collected from along a ridge line which showed the radiometric high (Figure 2). Figures 3 shows COR sample areas. Radio metric readings for samples COR-1 to 4 are shown in figures 5-8. Results for samples COR-5 to COR-8, collected on the new eastern zone, are pending final review and analysis.

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Figure 3 Sample locations

Observations and Preliminary Results

When examining geophysical data for the Colosseum mine area, as collected and interpreted by the United States Geological Survey (USGS), it was observed that linear trends of radiometric highs within the Colosseum claims were oriented in an NNW/SSE direction, demonstrating a possible relationship with radiometric data surrounding the Mountain Pass rare earth element (REE) deposit to the southeast. The particular orientation of these trends were directionally consistent with the same linear trends immediately surrounding the Mountain Pass mine area, further suggesting a possible relationship.

ASX Release 14, April 2022

While evaluating the data and observations from the September 2021 field excursion, it was noted that a reference was made in the historical literature to the presence of a small outcrop of fenite rock located within the Colosseum claim area, approximately 800m east of the main mine pit.

Fenite is a rock type produced through fenitisation. Fenitisation is a process of alkali metasomatism whereby late residual solutions enriched in alkali elements emanating from an alkali igneous rock complex replace pre-existing rocks. The process of fenitisation is not confined to country rock, but almost invariably has invaded the earlier crystallized igneous rocks in carbonatite complexes.

A rock thin section of this historical sample was obtained and examined. Through the application of cathodoluminescence, it was confirmed that this sample was exposed to fenitising fluids. Fenites are derived from Alkali Carbonatite intrusions. Fenite outcrops have been found in several areas surrounding the Mountain Pass REE mine deposit.

The fenites identified at the Colosseum mine are similar to the fenites found at the Mountain Pass REE mine. The fenites found at the Mountain Pass REE mine are related to the carbonatite intrusion bearing the Mountain Pass REE mineralization.

Because of the spatial proximity of this fenite occurrence to the Mountain Pass intrusion and the fact that fenites only occur in association with alkaline and carbonatite systems, it can be strongly inferred that the fenite found on the Colosseum claims is genetically related to the geological events that created the Mountain Pass REE mine.

Another brief field investigation was conducted during the week of February 21, 2022, to follow-up on this reported fenite occurrence. Consistent with the reported observation, a fenite outcrop was located within the Colosseum claims east of the pit. The outcrop was observed to be larger than historically described, with the fenite showing linear exposure of approximately 75 metres.

Further field reconnaissance was conducted during February 2021, with additional rock samples of interest collected for analysis. These samples were chosen based on several field analytical parameters including field rock-type classification, ground radiometric readings, and field based semi-quantitative geochemical analyses (Niton instrumentation).

A small vein of rock was observed in the far northeast portion of the Colosseum claim area that showed field indications of fenite. Follow-up lab analytical studies are now being conducted to investigate this further.

Samples were examined visually in the laboratory as well as through the use of cathodoluminescence (CL). CL aids in the identification of specific minerals through their luminescent properties. It can also provide information as to the potential mode of origin of certain minerals and their association with crustal or mantle derived rocks.

Commenting on the results, Dateline’s Exploration Director, Greg Hall, said:

“ A report of fenitization of a quartz syenite near Colosseum is encouraging, as syenite is part of the family of rocks that includes carbonatite, and fenitization is an alteration product associated with carbonatite.

“We are now seeing evidence of rare earth potential across a larger part of the Colosseum claims, not just in the southern area as previously thought.

“While the primary aim at Colosseum has historically targeted gold, the rare earth potential deserves to be fully investigated.”

ASX Release 14, April 2022

Summary and Next Steps

The study by Messrs’ Mariano confirm that there exists the potential for REE’s near the Colosseum mine and that the geology is linked to that found at the Mountain Pass REE Mine, located ~10km to the southeast.

Further surface geological mapping, rock sampling and petrographic analyses will be completed in Q2, 2022, with a structural geologist contracted to provide detailed structural mapping of the Colosseum claims.

In order to ensure the REE program is executed to the highest level, the Company has retained Messrs Mariano as Senior REE Expert Advisors to the exploration program.

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Figure 4. Anthony Mariano Jr Mapping and sampling of the fenitized outcrop to the east of the open pit mine

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Figure 5. Breccia waste rock at south rim of Colosseum mine pit where sample COR-1 was collected. Photo (a) shows radiometric reading (µR/h) of the rock sampled. Photo (b) Dr Anthony N. Mariano, PhD studying the nature of the breccia waste rock.

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Figure 6. Breccia waste rock in Colosseum mine tailings area where sample COR-2 was collected. Photo (a) shows radiometric reading (µR/h) of the rock sampled. Photo (b) The waste rock that Dr Anthony N. Mariano, PhD collected sample COR-2 from

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Figure 7. Outcrop at north end of ridge where sample COR-3 was collected (a). Photo (b) shows the radiometric reading (µR/h) of the rock sampled.

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Figure 8. Outcrop on the ridge at the southern extent of the Colosseum mine property where sample COR-4 was collected (a). Photo (b) radiometric reading (µR/h) of the rock sampled.

ASX Release 14, April 2022

Financing

The Company has raised $810,000 by way of loans and placements to sophisticated investors. The amounts raised are for working capital requirements and have been raised are on the following terms

1. $600,000 loan agreement on commercial terms. The Company will issue the lender 6 million Options exercisable at $0.11 with an expiry 24 months after issue.

2. $210,000 by way of a placement of fully paid ordinary shares at $0.11 per share.

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. The Company aims to delineate sufficient Mineral Resources to commence a small high-grade, lowcost 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. Mining has commenced with ore 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.

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 XX March 2022

JORC Code, 2012 Edition – Table 1

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	• All samples followed a strict Chain of Custody.
techniques	channels, random chips, or specific specialised	• Sampling practice is appropriate to the
	industry standard measurement tools	geology and mineralization of the deposit and
	appropriate to the minerals under	complies with industry best practice.
	investigation, such as down hole gamma
	sondes, or handheld XRF instruments, etc).
	These examples should not be taken as
	limiting the broad meaning of sampling.
	• Include reference to measures taken to ensure
	sample representivity and the appropriate
	calibration of any measurement tools or
	systems used.
	• Aspects of the determination of
	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, open-
techniques	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 and
recovery	chip sample recoveries and results assessed.
	• Measures taken to maximise
	sample recovery and ensure
	representative nature of the
	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.

ASX Release 14, April 2022

Criteria		JORC Code explanation	Commentary
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 whether	• Rock samples sent to Activation
techniques and		quarter, half or all core taken.	Laboratories were dried and weighed.
sample		• If non-core, whether riffled, tube	Sample size assessment was not conducted.
preparation		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 assay		• The nature, quality and appropriateness of the	• Samples were assayed by industry
data and		assaying and laboratory procedures used and	standard methods by Activation
laboratory tests		whether the technique is considered partial or	Laboratories, Ancaster, Ontario.
		total.
		• 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.
Verification	of	• The verification of significant intersections	• Sampling, documentation and sample
sampling	and	by either independent or alternative	submittal were under the guidance and care of
assaying		company personnel.	Anthony Mariano and Anthony N. Mariano,
		• The use of twinned holes.	PhD.
		• Documentation of primary data,
		data entry procedures, data
		verification, data storage (physical
		and electronic) protocols.
		• Discuss any adjustment to assay data.

ASX Release 14, April 2022

Criteria	JORC Code explanation	Commentary
Location of data	• Accuracy and quality of surveys used to locate	• All sample locations were located using GPS
points	drill holes (collar and down-hole surveys),	equipment.
	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 and	• Data spacing for reporting of Exploration Results.	• No sample compositing has been applied.
distribution	• 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 achieves
data in relation to	unbiased sampling of possible structures and
geological	the extent to which this is known, considering
structure	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.	• All samples were taken and maintained
security		under the constant care of Anthony
		Mariano and Anthony N. Mariano, PhD.
		Samples were delivered to the laboratory
		via US Postal Service.
Audits or	• The results of any audits or reviews of sampling
reviews	techniques and data.

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code explanation	Commentary
Mineral tenement	• Type, reference name/number, location and	• All tenements are 100% owned by Dateline
and land tenure	ownership including agreements or material	Resources Limited or a wholly owned
status	issues with third parties such as joint	subsidiary and there exist production‐based
	ventures, partnerships, overriding royalties,	royalties as previously disclosed to ASX.
	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.

ASX Release 14, April 2022

Criteria	JORC Code explanation	Commentary
Exploration done	• Acknowledgment and appraisal of exploration by
by other parties	other parties.
Geology	• Deposit type, geological setting and style of	• The Colosseum gold mine is a breccia pipe
	mineralisation.	related gold mineral system within the Walker
		Lane mineral district. The breccia is developed
		as Jurassic felsic magmas were being
		emplaced into Proterozoic granite gneiss
		beneath Palaeozoic sedimentary rocks.
		• The breccia includes clasts of Palaeozoic
		sedimentary rocks and Jurassic rhyolite
		porphyry as well as Proterozoic gneiss.
		Gold mineralisation is associated with pyrite
		and minor base metal sulphides occupying the
		matrix of the breccia and in ring fractures
		surrounding the breccia pipe
Drill hole	• A summary of all information material to the
Information	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
	stated.
Relationship	• These relationships are particularly
between	important in the reporting of Exploration
mineralisation	Results.
widths and	• If the geometry of the mineralisation with
intercept lengths	respect to the drill hole angle is known, its

ASX Release 14, April 2022

Criteria	JORC Code explanation	Commentary
	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)	• Supporting figures have been included
	and tabulations of intercepts should be	within the 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
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 not
exploration data	limited to): geological observations; 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	• Petrographic examination of the altered linear
	work (eg tests for lateral extensions or	zone will be combined with further field
	depth extensions or large-scale step-out	mapping of the claim area to identify any other
	drilling).	zones of fenitisation.
	• Diagrams clearly highlighting the areas of
	possible extensions, including the main
	geological interpretations and future drilling
	areas, provided this information is not
	commercially sensitive.