DATELINE RESOURCES LIMITED — Interim / Quarterly Report 2016

Mar 14, 2016

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DATELINE RESOURCES LIMITED

A.C.N. 149 105 653

FINANCIAL REPORT to SHAREHOLDERS

for the HALF YEAR ENDED

31 DECEMBER 2015

DATELINE RESOURCES LIMITED TABLE OF CONTENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2015

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	Page
Corporate Information	3
Directors’ Report	4
Auditor’s Independence Declaration	7
Consolidated Statement of Comprehensive Income	8
Consolidated Statement of Financial Position	9
Consolidated Statement of Changes in Equity	10
Consolidated Statement of Cash Flows	11
Notes to the Financial Statements	12
Directors’ Declaration	17
Independent Review Report	18

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DATELINE RESOURCES LIMITED CORPORATE INFORMATION FOR THE HALF YEAR ENDED 31 DECEMBER 2015

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Directors & Officers

Mark Johnson AO - Chairman Stephen Baghdadi - Executive Director Greg Hall - Non-Executive Director John Smith - Company Secretary

Registered Office

Level 29 2 Chifley Square Sydney NSW 2000

Bankers

National Australia Bank 300 Victoria Avenue Chatswood NSW 2067 Website: www.nab.com.au

Auditors

HLB Mann Judd Level 19, 207 Kent Street Sydney NSW 2000 Website: www.hlb.com.au

PO Box 553 South Hurstville NSW 2221

Share Registry

T: +61 (02) 8231 6640 F: +61 (02) 8231 6487 E-mail: info@datelineresources.com.au Website: www.datelineresources.com.au

Securities Exchange

Australian Securities Exchange Limited ("ASX") Home Exchange – Sydney ASX Symbol – DTR (ordinary shares)

Security Transfers Registrars Pty Ltd 770 Canning Highway Applecross WA 6153 Website: www.securitytransfer.com.au

Solicitors

K & L Gates Level 31, 1 O'Connell Street Sydney NSW 2000 Website: www.klgates.com

Australian Company Number

ACN 149 105 653

Australian Business Number

ABN 63 149 105 653

Domicile and Country of Incorporation Australia

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DATELINE RESOURCES LIMITED DIRECTORS’ REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2015

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The Directors present their report of Dateline Resources Limited (“the Company”) for the half year ended 31 December 2015 (“the Period”).

1. DIRECTORS

The names of the Company’s Directors in office during the Period and until the date of this report are set out below. Directors were in office for this entire Period unless otherwise stated.

Director/ Position	Duration of Appointment
Mr. Mark Johnson AO Chairman	Appointed 22 April, 2013
Mr. George Niumataiwalu Non-Executive Director	Appointed 24 October, 2013 Deceased 2 December 2015
Mr. Stephen Baghdadi Executive Director	Appointed 3 July, 2014
Mr. Greg Hall Non-Executive Director	Appointed 19 January 2015

2. COMPANY SECRETARY

The Company Secretary role was held by the following individual during the half year:

• Mr. John Smith (appointed 24 October 2013)

3. PRINCIPAL ACTIVITIES

The Company is an Australian-based exploration company with exploration projects in the Republic of Fiji and Australia. The Company plans to focus on exploration and development of the Udu and Mt. Augustus projects and pursue base metals opportunities in Australia and the South Pacific.

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DATELINE RESOURCES LIMITED DIRECTORS’ REPORT (Continued) FOR THE HALF YEAR ENDED 31 DECEMBER 2015

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4. REVIEW OF OPERATIONS AND ACTIVITIES

Tenement Schedule

enement Schedule
Project	Number	Ownership	Location
Udu	SPL1387	100%	Fiji
Udu	SPL1396	100%	Fiji
Udu	CX814	Application 100%	Fiji
Udu	CX815	Application 100%	Fiji
Mt Augustus	E09/2030	100%	Western Australia
Mt Augustus	E09/2031	100%	Western Australia
Mt Augustus	E09/2035	100%	Western Australia
Mt Augustus	E09/2117	100%	Western Australia
Mt Augustus	E09/2118	100%	Western Australia

Conditions for junior exploration companies continue to be extremely difficult. There is an uncertain outlook for economic growth and for commodity prices. In these circumstances financial markets will only support projects offering near term cash flow or really outstanding prospects. DTR’s response has been to adopt stringent cash control, and to confine all but absolutely essential expenditures.

DTR’s tenements at Udu are prospective for porphyry occurrences. Data and information on these prospects and a conceptual framework for low cost exploration were further evaluated. The company is now in a position to provide potential joint venture partners with access to a considerable data base.

Opportunities in gold and base metals outside Fiji could dilute single project risk and be in the interests of DTR shareholders. Considerable effort has been given to the development of other opportunities, a number were examined and several were judged to be attractive. Evaluation of these prospects and analysis of possible terms of entry are continuing.

Examination regarding possible participation in a number of new projects and maintaining and reviewing the Company's existing projects were the principal activities during the period. Directors continue to investigate opportunities to participate in joint ventures and acquire projects in Australia and overseas.

As announced on October 16 2015, Dateline Resources Limited completed a share sale agreement (Agreement) with the major shareholders of Golden Phoenix Resources Limited (GPR) for Dateline to acquire all of the issued shares of GPR. The consideration for this was the issue of 25,000,416 DTR shares to GPR shareholders. DTR’s issued capital now stands at 101,300,416 ordinary shares.

GPR is an unlisted public mineral exploration company that has five granted exploration licenses (EL’s) that comprise the Augustus sedimentary copper project located in the Gascoyne region, Western Australia. The ELs cover five separate copper geochemical anomalies defined by the Geological Survey of Western Australia (GSWA) geochemical data within the Proterozoic Bangemall Basin.

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DATELINE RESOURCES LIMITED DIRECTORS’ REPORT (Continued) FOR THE HALF YEAR ENDED 31 D ECEMBER 2015

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FINANCIAL RESULTS

The financial results of the C ompany for the half year ended 31 December 2 0 15 are:

	31-Dec-15	30-Jun- 15
Cash & Ca sh equivalents ($)	157,597	45, 907
Net Asset s($)	4,116,331	3,350, 481
	31-Dec-15	31-Dec- 14
Revenue ($)	666	2, 141
Net Profi t (Loss) After Tax ($)	(223,453)	(314,0 11)
Profit/(Lo ss) per Share (Cents)	(0.26)	(0 .45)
Dividend ($)	-	-

5. SIGNIFICANT EVENTS

During the Period the follo w ing significant events took place:

• On 16 October 2015 th e Company announced that it had acquired 99. 7 6% of the share capital of Golden Phoenix Resou r ces Ltd. An aggregate of 24,940,121 fully p a id ordinary shares in the company were issued to the previous shareholders of Golden P hoenix Resources Ltd as consideration for this a c quisition.

• On 12 November 2015 the Company announced that it had acquired t he remaining 0.24% of the share capital of Golden Phoenix Resources Ltd. 60,295 fully paid ordinary shares in the company were issued to the prev i ous shareholders of Golden Phoenix Resources L td as consideration for this acquisition.

A total of 25,000,416 fu l ly paid ordinary shares were issued to the previ o us shareholders of Golden Phoenix Resources Ltd as total consideration for the acquisition, inc r easing the total fully paid shares on issue in the c o mpany to 101,300,416.

• On 2 December 2015 the company was notified of the very s a d news that Mr George Niumataiwalu, a Non-Executive Director of the Company had passed aw a y.

6. EVENTS AFTER BALANCE SHEET DATE

No matter or event has aris e n since 31 December 2015 that would be likely t o materially affect the operations of the Company, or the state of affairs of the Company not other w ise as disclosed in the Company’s financial report.

7. AUDITOR’S INDEPENDENCE DECLARATION

The auditors independence declaration under Section 307C of the Corporati o ns Act 2001 is set out on Page 7.

Signed in accordance with a resolution of Directors.

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Mark Johnson AO

Executive Chairman 15 March 2016

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AUDITOR’S INDEPENDENCE DECLARATION

As lead auditor for the review of the financial report of Dateline Resources Limited for the half-year ended 31 December 2015, I declare that to the best of my knowledge and belief, there have been no contraventions of:

• (a) the auditor independence requirements of the Corporations Act 2001 in relation to the review; and

• (b) any applicable code of professional conduct in relation to the review.

This declaration is in respect of Dateline Resources Limited and the entities it controlled during the period.

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Sydney, NSW 15 March 2016

M D Muller Director

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DATELINE RESOURCES LIMITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE HALF YEAR ENDED 31 DECEMBER 2015

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Note 31-Dec-15 31-Dec-14	Note 31-Dec-15 31-Dec-14	Note 31-Dec-15 31-Dec-14
$ $
Continuing operations
Revenue 666 2,141 Directors fees and other benefits (13,393) - Exploration Expenditure (11,213) - Administration expenses 4 (199,513) (316,152)
Loss from continuing operations before income tax (223,453) (314,011) Income tax expense - -
Loss from continuing operations after income tax (223,453) (314,011) Other comprehensive profit/(loss) Foreign CurrencyTranslation Reserve (13,835) 324,902
Total comprehensive profit/(loss) for the period (237,288) 10,891
Profit/(loss) for the period is attributable to: Owners of the Company (223,453) (314,011)
(223,453) (314,011)
Total comprehensive profit/(loss) for the period attributable to: Owners of the Company (237,288)
		10,891
(237,288)		10,891
	Cents	Cents
Loss per share from continuing operations attributable to the ordinary equity holders of the Company:
Basic loss per share – cents per share	(0.26)	(0.45)
Diluted loss per share – cents per share	(0.26)	(0.45)
Total comprehensive profit/(loss) per share attributable to the ordinary equity holders of the Company:
Basic profit/(loss) per share – cents per share	(0.27)	0.02
Diluted profit/(loss) per share – cents per share	(0.27)	0.02

The above Condensed Statement of Comprehensive Income should be read in conjunction with the accompanying notes.

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DATELINE RESOURCES LIMITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION FOR THE HALF YEAR ENDED 31 DECEMBER 2015

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	Note	31-Dec-15	30-Jun-15
		$	$
Current Assets		157,597 49,319 20,544
Cash & cash equivalents			45,907
Trade & other receivables			12,895
Financial Assets			19,635
Total Current Assets		227,460	78,437
		11,439 4,544,469
Non-Current Assets
Plant & equipment			11,321
Exploration & evaluation expenditure	5		3,600,000
Total Non-Current Assets		4,555,908	3,611,321
TOTAL ASSETS		4,783,368	3,689,758
		476,037 191,000
Current Liabilities
Trade & other payables			189,277
Loans from Related Parties	6		150,000
Total Current Liabilities		667,037	339,277
TOTAL LIABILITIES		667,037	339,277
NET ASSETS		4,116,331	3,350,481
		8,766,335 611,859 (5,261,863)
Equity attributable to the equity holders of the Company
Contributed equity	7		7,763,196
Reserves	8		625,694
Accumulated losses			(5,038,409)
TOTAL EQUITY		4,116,331	3,350,481

The above Condensed Statement of Financial Position should be read in conjunction with the accompanying notes.

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DATELINE RESOURCES LIMITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE HALF YEAR ENDED 31 DECEMBER 2015

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	Issued Capital Accumulat ed Losses Foreign Currency Reserve TOTAL
	$ $ $ $
Balance as at 1 July 2015	7,763,196 (5,038,410) 625,694 3,350,480
Total loss	- (223,453) - (223,453)
Total other comprehensive income	- - (13,835) (13,835)
Total comprehensive Income for the Period	- (223,453) (13,835) (237,288)
Contributions of equity	1,003,139 - - 1,003,139
Balance as at 31 December 2015	8,766,335 (5,261,863) 611,859 4,116,331
	Issued Capital Accumulat ed Losses Foreign Currency Reserve TOTAL
	$ $ $ $
Balance as at 1 July 2014	7,177,158 (526,406) 266,265 6,917,017
Total loss	- (314,011) - (314,011)
Total other comprehensive income	- - 324,902 324,902
Total comprehensive Income for the Period	- (314,011) 324,902 10,891
Contributions of equity	586,038 - - 586,038
Balance as at 31 December 2014	7,763,196 (840,417) 591,167 7,513,946

The above Condensed Statement of Changes in Equity should be read in conjunction with the accompanying notes.

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DATELINE RESOURCES LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE HALF YEAR ENDED 31 DECEMBER 2015

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	31-Dec-15	31-Dec-14
	$	$
Cash flows used in operating activities	(130,463) 666
Payment to suppliers and employees		(275,386)
Interest received		2,141
Net cash flows used in operating activities	(129,797)	(273,245)
Cash flows used in investing activities	- 308,792 (94,469)
Payment for plant & equipment		-
Payment for acquisition of subsidiaries net of cash acquired (note 10b)		-
Payment for exploration & evaluation expenditure		(192,460)
Net cash flows used in investing activities	214,323	(192,460)
Cash flows from financing activities	- -
Proceeds from issue of shares		586,039
Repayment of related party loans		(57,471)
Advance of related party loan	41,000	-
Proceeds from borrowings	-	550,000
Net cash flows from financing activities	41,000	1,078,568
Net increase in cash and cash equivalents	125,526 (13,836) 45,907	612,863
Net Foreign exchange difference		(37,406)
Cash and cash equivalents at beginning of period		92,285
Cash and cash equivalents at end ofperiod	157,597	667,742

The above Condensed Statement of Cash Flows should be read in conjunction with the accompanying notes.

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DATELINE RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2015

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1. CORPORATE INFORMATION

The financial report of Dateline Resources Limited (the “Company”) covers the period from 1 July 2015 to 31 December 2015 (the “Period”). The Company was incorporated on 3 February 2011.

In June 2011, the Company was listed on the Australian Securities Exchange (ASX) through initial Public Offering Prospectus dated 18 April 2011.

The Company is an Australian-based exploration company with exploration projects in the Republic of Fiji and Australia. The Company plans to focus on exploration and development of the Udu and Mt. Augustus projects and pursue base metals opportunities in Australia and the South Pacific. The address of the registered office of the Company is Level 29, 2 Chifley Square Sydney NSW 2000.

The financial report of Dateline Resources Limited for the Period was authorised for issue in accordance with a resolution of the Directors on 15 March 2016.

2. BASIS OF PREPARATION AND ACCOUNTING POLICIES

Basis of preparation

This general purpose interim condensed financial report of the Company for the Period has been prepared in accordance with AASB 134 Interim Financial Reporting and the Corporations Act 2001 . Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 Interim Financial Reporting .

The half-year financial report does not include all notes of the type normally included within the annual financial report and therefore cannot be expected to provide as full an understanding of the financial performance, financial position and financing and investing activities of the Company as the full financial report.

It is recommended that the interim financial report be read in conjunction with the annual financial statements for the year ended 30 June 2015 and considered together with any public announcements made by the Company during the Period and up to the date of this report in accordance with the continuous disclosure obligations of the ASX Listing Rules.

The accounting policies and methods of computation adopted in the preparation of this financial report for the Period under review are consistent with those adopted in the annual financial statements for the year ended 30 June 2015. These accounting policies are consistent with Australian Accounting Standards and with International Financial Reporting Standards.

Significant Events

Refer to Section 5 in the Directors’ Report for details of significant events that have occurred during the period.

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DATELINE RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2015

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3. OPERATING SEGMENTS

AASB 8 requires operating segments to be identified on the basis of internal reports about components of the Company that are regularly reviewed by the chief operating decision maker in order to allocate resources to the segment and to assess its performance.

resources to the segment and to assess its performance.
Australia Fiji	Consolidation Entries	TOTAL
31 December 2015 A$ A$	A$	A$
Revenues (666) -	-	(666 )
Segment loss/(profit) 218,064 (204,155)	209,544	223,453
31 December 2014
Revenues (2,141) -	-	(2,141)
Segment loss/(profit) 298,953 (129,367)	144,425	314,011
31 December 2015
Total Segment Assets 13,656,672 4,030,662	(12,903,966)	4,783,368
Total Segment Liabilities 2,437,525 4,806,883	(6,577,371)	667,037
30 June 2015
Total Segment Assets 12,370,503 3,997,836	(12,678,581)	3,689,758
Total Segment Liabilities 2,076,053 4,768,350	(6,505,125)	339,278
	31-Dec-15
		31-Dec-14
4. ADMINISTRATION EXPENSES	$	$
Consulting and corporate expenses	133,676 21,903 6,183 37,751	242,674
Compliance and regulatory expenses		12,357
Depreciation expenses		4,922
Other administration expenses		56,199
TOTAL ADMINISTRATION EXPENSES	199,513	316,152
	31-Dec-15
		30-Jun-15
5. EXPLORATION & EVALUATION EXPENDITURE	$	$
Carryingamount of exploration expenditure	4,544,469	3,600,000
Movement during the Period
Balance at the beginning of the Period	3,600,000 94,469	6,905,340
Expenditure incurred during the Period		582,241
Golden Phoenix Resources Ltd tenements acquired (note 10b)	850,000	-
Impairment of Capitalised Exploration Expenses	-	(3,887,581)
Balance at the end of the Period	4,544,469	3,600,000

The ultimate recoupment of the costs carried forward for exploration and evaluation expenditure is dependent on the successful development and commercial exploitation, or alternatively, the sales of the respective area of interest.

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DATELINE RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2015

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5. EXPLORATION & EVALUATION EXPENDITURE (CONTINUED)

The Board acknowledges that the market for metal resources has remained weak and the Company’s exploration activities has been minimal due to funding constraints. The Board has reviewed the situation and the status of the exploration assets and considers that their carrying value is appropriate and recoverable as at 31 December 2015.

	31-Dec-15	30-Jun-15
6. LOANS FROM RELATED PARTIES	$	$
Current	191,000
Amounts owed to Southern Cross Resources NL		150,000
Total current loans from shareholders	191,000	150,000
Total non-current loans from shareholders	-	-
TOTAL LOANS FROM RELATED PARTIES	191,000	150,000
7. CONTRIBUTED EQUITY
(a) Share Capital	Consolidated
	31-Dec-15 30-Jun-15
Ordinary Capital	101,300,416 76,300,000 $8,766,335 $7,763,196
Number of Shares
Paid Up
(b) Movements in Share Capital	Consolidated
	Number of Shares	$
01 Jul 2015 Opening Balance	76,300,000	7,763,196
16 Oct 2015 Issued to Shareholders of Golden Phoenix Resources Ltd (note 10)	24,940,121	1,000,720
12 Nov 2015 Issued to Shareholders of Golden Phoenix Resources Ltd (note 10)	60,295	2,419
31 Dec 2015 Closing Balance	101,300,416	8,766,335
8. Reserves
Foreign Currency Translation Reserve
The foreign currency translation reserve records exchange differences arising on
translation of the foreign controlled subsidiaries.

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DATELINE RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2015

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9. RELATED PARTY DISCLOSURES

(a) Subsidiaries and associates

	(a) Subsidiaries and associates
	Ownership Ownership
	Country of Interest (%) Interest (%)
	Name of subsidiary Incorporation 31.12.15 30.6.15
	Dateline Fiji Pty Ltd (i) Australia 100% 100%
	Matai Holdings (Fiji) Ltd (ii) Fiji 100% 100%
	Golden Phoenix Resources Limited (“GPR”) (iii) Australia 100% 0%

• (i) Dateline Resources Ltd completed the legal acquisition of Dateline Fiji Pty Ltd on 3 October 2013. The transaction is considered to be a reverse acquisition and Dateline Fiji Pty Ltd is deemed to be the accounting acquirer.

• (ii) Matai Holdings (Fiji) Ltd is 100% owned by Dateline Fiji Pty Ltd.

• (iii) Dateline Resources Ltd completed the legal acquisition of

• Golden Phoenix Resources Ltd on 12 November 2015.

Greg Hall, a director of GPR and Dateline Resources Limited was issued 9,999,774 shares in DTR as consideration for his shares in GPR, as part of the acquisition mentioned above.

10. ENTITIES ACQUIRED DURING THE PERIOD

• (a) Summary of acquisitions

On 16 October 2015 the Group acquired 99.76% of the issued capital of Golden Phoenix Resources Ltd and acquired the remaining 0.24% on 12 November 2015. Golden Phoenix Resources Ltd, an unlisted public exploration company, has 3 granted exploration licenses that comprise the Augustus sedimentary copper project located in the Gascoyne region of Western Australia.

• (b) Purchase consideration

The purchase consideration paid to the shareholders of Golden Phoenix Resources Ltd was the issue of 25,000,416 fully paid ordinary shares in Dateline Resources Limited, deemed to have a fair value of $1,003,139 representing the fair value of assets and liabilities acquired as detailed below.

The fair value of assets and liabilities recognised as a result of the acquisition are as follows:

			Cash and cash equivalents Trade and other receivables Financial assets Tenements at Fair Value Plant and equipment Trade and other payables Provisions	Cash and cash equivalents Trade and other receivables Financial assets Tenements at Fair Value Plant and equipment Trade and other payables Provisions	Fair Value
					$
					308,792
					8,064
					12,176
					850,000
					6,397
					(171,852)
					(10,438)
					1,003,139

The fair value of the tenements at the date of acquisition was determined by an independent third party expert. The value was calculated with reference to estimated deposits as well as exploration expenditure incurred to date.

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DATELINE RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2015

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10. ENTITIES ACQUIRED DURING THE PERIOD (CONTINUED)

(c) Purchase consideration – cash flow	$
Inflow of cash to acquire, net of cash acquired
Cash consideration	-
Cash balances acquired	308,792
Inflow of cash-investing activities	308,792

11. DIVIDENDS

No dividend has been paid during the Period and no dividend is recommended for the Period.

12. COMMITMENTS

There are no new contracted commitments as at 31 December 2015 (Nil as at 30 June 2015).

13. CONTINGENT LIABILITIES

There are no contingent liabilities as at 31 December 2015 (Nil as at 30 June 2015).

14. EVENTS AFTER BALANCE SHEET DATE

No matter or event has arisen since 31 December 2015 that would be likely to materially affect the operations of the Company, or the state of affairs of the Company not otherwise as disclosed in the Company’s financial report.

15. GOING CONCERN

The half-year financial statements are prepared on a going concern basis, which contemplates the continuation of normal business activity and the realisation of assets and liabilities in the normal course of business. As at 31 December 2015 the consolidated entity incurred a total comprehensive loss after tax of $237,288 and has a deficiency of current assets to current liabilities of $439,577 (30 June 2015: $260,840). The result from operations is a loss after tax of $223,453. The ability of the Group to continue as a going concern and to pay its debts as and when they fall due is dependent on the consolidated entity’s ability to raise additional funds through either debt financing or capital raising arrangements. Should insufficient funds be raised, there is a material uncertainty that the Group will continue as a going concern.

However, the Directors have a reasonable expectation that the entity will raise sufficient funds to continue operating for the foreseeable future. For this reason they continue to adopt the going concern basis in preparation of the accounts.

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DATELINE RESOURCES LIMITED DIRETORS’ DECLARATION FOR THE HALF YEAR ENDED 31 D ECEMBER 2015

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In the Directors’ opinion:

• (a) The financial statements and notes of the Company are in accordance w ith the Corporations Act 2001, including:

• (i) Giving a true and fai r view of the financial position as at 31 Dec e mber 2015 and the performance for the p e riod 1 July 2015 to 31 December 2015 of the C o mpany.

• (ii) Complying with Accounting Standard AASB 134 Interim Fina n cial Reporting, the Corporations Regulati o ns 2001 and other mandatory professional rep o rting requirements.

• (b) There are reasonable gro u nds to believe that the Company will be able t o pay its debts as and when they become due a n d payable.

This declaration is made in acco r dance with a resolution of Directors.

On behalf of the Board of Directors.

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Mark Johnson AO Executive Chairman 15 March 2016

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DATELINE RESOURCES LIMITED

ACN 149 105 653

INDEPENDENT AUDITOR’S REVIEW REPORT

To the members of Dateline Resources Limited

Report on the Half-Year Financial Report

We have reviewed the accompanying half-year financial report of Dateline Resources Limited (“the company”) which comprises the consolidated statement of financial position as at 31 December 2015, the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the half-year ended on that date, notes comprising a summary of significant accounting policies and other explanatory notes and the directors’ declaration, for the consolidated entity comprising the company and the entities it controlled at the half-year end or from time to time during the half-year.

Directors’ Responsibility for the Half-Year Financial Report

The directors of the company are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the half-year financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express a conclusion on the half-year financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity , in order to state whether, on the basis of the procedures described, we have become aware of any matter that makes us believe that the halfyear financial report is not in accordance with the Corporations Act 2001 including: giving a true and fair view of the consolidated entity’s financial position as at 31 December 2015 and its performance for the half-year ended on that date; and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 . As the auditor of the company, ASRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual financial report.

A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Independence

In conducting our review, we have complied with the independence requirements of the Corporations Act 2001 . We confirm that the independence declaration required by the Corporations Act 2001 , which has been given to the directors of the company, would be in the same terms if given to the directors as at the time of this auditor’s review report .

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DATELINE RESOURCES LIMITED

ACN 149 105 653

INDEPENDENT AUDITOR’S REVIEW REPORT (continued)

Conclusion

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half-year financial report of Dateline Resources Limited is not in accordance with the Corporations Act 2001 including:

• (a) giving a true and fair view of the consolidated entity’s financial position as at 31 December 2015 and of its performance for the half-year ended on that date; and

• (b) complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 .

Material Uncertainty Regarding Continuation as a Going Concern

Without modifying our conclusion, we draw attention to Note 15 (Going concern) in the half-year financial report, which indicates the existence of a material uncertainty that may cast significant doubt about the consolidated entity’s ability to continue as a going concern and therefore the consolidated entity may be unable to realise its assets and discharge its liabilities in the normal course of business.

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HLB Mann Judd Chartered Accountants

M D Muller Director

Sydney, NSW 15 March 2016

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