DATELINE RESOURCES LIMITED — Capital/Financing Update 2023

Mar 1, 2023

ASX Release

DATELINE RESOURCES LIMITED

(ACN 149 105 653) ASX Code: DTR

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Placement of New Shares to Raise $2.71 Million

Dateline Resources Limited (ASX: DTR) ( Dateline or the Company ) is pleased to announce that it has received firm commitments to raise $2.71 million pursuant to a placement of 135,500,000 new shares in the Company (each, a New Share ) at $0.02 per New Share ( Issue Price ) ( Placement ).

In addition, the Company has:

CAPITAL STRUCTURE

Share Price (23/02/23) $0.036 Shares

$20.35 million

MAJOR SHAREHOLDERS

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

John Smith Company Secretary

CONTACT

John Smith Phone: +61 2 9375 2353 Postal Address: Level 29 2 Chifley Square Sydney NSW 2000 Email: info@datelineresources.com.au

• as part of the placement terms, agreed to grant a total of 67,750,000 unquoted options over unissued New Shares (each, with an exercise price of $0.03 and with an expiry date of the third anniversary of the date of their grant (each, an Option );

• received commitments from Directors to convert up to $900,000 in existing debt owing to those Directors into New Shares at the Issue Price ( Debt to Equity Conversion ); and

• agreed to offer shareholders a Rights Issue ( RI ) to raise approx. $1 million at $0.02 per share. Peak Asset Management Pty Ltd ( Peak ) has made a firm commitment to take up any shortfall (up to $1million) from the proposed RI. The Company will grant 1 Option for every 2 shortfall shares (if any) issued to Peak under this arrangement.

The funds raised under the Placement will be used by the Company:

• to further gold and rare earths exploration at the Company's Colosseum Project in California; and

• for general working capital purposes (including to pay the costs of the Placement).

Further details

Under the Placement, up to 81,673,479 New Shares will be issued under the Company's available placement capacity, with the balance, being 53,826,521 New Shares, to be issued to investors following the receipt of shareholder approval under Listing Rule 7.1. The issue of the New Shares under the Placement (other than those which are subject to Shareholder approval) is expected to occur on Tuesday, 7 March 2023.

The issue of the Options and the Debt to Equity Conversion will be subject to shareholder approval under the Listing Rules. The meeting documents for the required meeting are expected to be released on ASX and sent to Shareholders within the next 3 weeks (with the meeting to be held before the end of April 2023).

The Company is proposing that the Rights Issue will be offered at $0.02 per share (the same issue price as the Placement) on a 1 for 12 basis to all eligible existing shareholders and is expected to raise a further approximately $1.1 million before costs. Further details will be released to the market by Friday 10 March, 2023.

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