DATELINE RESOURCES LIMITED — Interim / Quarterly Report 2021

Apr 12, 2021

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DATELINE RESOURCES LIMITED & IT’S CONTROLLED ENTITIES

A.C.N. 149 105 653

FINANCIAL REPORT to SHAREHOLDERS

for the HALF YEAR ENDED

31 DECEMBER 2020

DATELINE RESOURCES LIMITED CORPORATE INFORMATION FOR THE HALF YEAR ENDED 31 DECEMBER 2020

Directors & Officers

Mark Johnson AO - Chairman Stephen Baghdadi - Managing Director Gregory Hall - Non-Executive Director Anthony Ferguson - Non-Executive Director Bill Lannen - Non-Executive Director John Smith - Company Secretary

Registered Office

Level 29 2 Chifley Square Sydney NSW 2000

Bankers

Commonwealth Bank of Australia 48 Martin Place Sydney NSW 2000 Website: www.commbank.com.au

Auditors

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

Postal Address

PO Box 553 South Hurstville NSW 2221

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

Share Registry

Automic Group GPO Box 5193 Sydney NSW 2001 Website: www.automicgroup.com.au

Solicitors

Securities Exchange

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

Australian Business Number ABN 63 149 105 653

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

Domicile and Country of Incorporation Australia

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DATELINE RESOURCES LIMITED DIRECTORS’ REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2020

The Directors present their report of Dateline Resources Limited (“the Company”) for the half year ended 31 December 2020 (“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. Stephen Baghdadi CEO and ManagingDirector	Appointed 3 July, 2014
Mr. Gregory Hall Non-Executive Director	Appointed 19 January 2016
Mr. Anthony Ferguson Non-Executive Director	Appointed 29 August 2019
Mr. Bill Lannen Non-Executive Director	Appointed 15 January 2021

2. COMPANY SECRETARY

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

• Mr. John Smith (appointed 24 October 2013).

3. PRINCIPAL ACTIVITIES

Dateline Resources Limited (ASX: DTR) is an Australian publicly listed company focused on gold mining and exploration in Colorado, United States of America. The Company owns 100% of the Gold Links project which is located in Gunnison County.

The Gold Links project is comprised of several contiguous historic gold mines that have been consolidated by the company, and has produced up to 150,000 oz of high-grade gold (see ASX announcement of 8 February 2019).

Mineralisation can be traced on surface and underground for almost 6km from the Northern to the Southern sections of the project. Well documented records indicate that there are large areas that remain untested at surface and little to no exploration has been done below the valley floor.

Dateline also owns the Green Mountain project which includes Lucky Strike and Mineral Hill permitted gold properties and has recommissioned a gold processing plant located at the Lucky Strike Mine. The Gold Links and the Lucky Strike are located approximately 50km apart.

The Company is reviewing its interest in Fiji with a view to identifying a Joint Venture partner that would enter a farm in agreement on its Fijian assets.

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DATELINE RESOURCES LIMITED DIRECTORS’ REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2020

4. REVIEW OF OPERATIONS AND ACTIVITIES

	TENEMENT SCHEDULE
Project	Number	Ownership	Location
Gold Links Permitted Mine	39 Patented Claims	100%	Colorado USA
Gold Links Permitted Mine	20 Unpatented Claims	100%	Colorado USA
Lucky Strike Permitted Mine & Mineral Hill Historic Mine	19 Patented Claims	100%	Colorado USA
Lucky Strike Permitted Mine & Mineral Hill Historic Mine	13 Patented Claims	100%	Colorado USA
Udu	SPL1387	100%	Fiji
Udu	SPL1396	100%	Fiji

Dateline seeks to create value for shareholders, through exploration activities which develop and quantify resource assets. Once an asset has been developed and quantified within the framework of the JORC guidelines the Group may elect to move to production, to extract and refine ore which is then sold as a primary product.

The company has spent the past two years consolidating ownership of several historic gold mines in the Gold Brick district of Gunnison County Colorado.

The company has undertaken a major development, exploration and acquisition program in Colorado that included ~1000ft decline and over 10,000ft of diamond drilling plus the recommissioning of the Lucky Strike Mill and the sale of our first concentrate produced from commissioning ore.

Assays from the drill core confirmed the existence of high-grade shoots of ore. This was a key driver in deciding to acquire additional ground in the region. The company has progressed from having a single lease over ~400 acres to owning ~1700 acres of freehold and all the underlying mineral rights. It is the first time in the regions history that a single entity has been able to consolidate the majority of the land that makes up what is referred to as the Gold Brick district in Gunnison Colorado.

In the process of acquiring the assets, the Company was able to extinguish USD20,000,000 of near term and contingent liabilities and retain outright ownership of all the assets.

As a result of the consolidation, the Company is now able to apply an understanding of the regional geology to implement targeted exploration programs that aim to prove up a JORC compliant resource.

FIJI

Metallurgical test work at the Udu polymetallic project in Fiji is ongoing. The project contains a JORC compliant inferred resource estimate of 4.53 million tonnes averaging 3.9% Zn, 1.2% Cu, 0.14% Pb, 0.26g/t Au, 29g/t Ag and 635ppm As using a 0.5% Zn cut off.

The Board and management have determined to spend the minimum amount required to retain ownership of the project and actively pursue a joint venture or farm in partner.

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DATELINE RESOURCES LIMITED DIRECTORS’ REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2020

FINANCIAL RESULTS

The financial results of the Company for the half year ended 31 December 2020 are:

	31-Dec-20	30-Jun-20
Cash & Cash equivalents ($)	177,094	158,362
Net Assets($)	15,516,037	16,560,346
	31-Dec-20	31-Dec-19
Revenue ($)	755	17,480
Net Loss After Tax ($)	(1,104,090)	(1,759,250)
Loss per Share (Cents)	(0.013)	(0.022)
Dividend($)	-	-

5. SIGNIFICANT CHANGES IN STATE OF AFFAIRS

There have been no significant changes in the state of affairs of the company during the period.

6. SIGNIFICANT MATTERS AFTER BALANCE DATE

The impact of the COVID-19 pandemic is ongoing. Management is closely monitoring the evolution of this pandemic and the response of the governments, particularly restrictions in place to contain this virus and how this will impact the Group and the economy, as a whole.

The Group has continued to operate in accordance with its plans up to the date of this report and management believes it will continue to do so even though the extent of the impact COVID-19 may have on its future liquidity, financial performance and position and operations is uncertain and cannot be reasonably estimated at the date these financial statements were issued.

On 15 March 2021, the Company did announce the execution of an agreement with LAC Minerals (USA) LLC, (LAC) a wholly owned subsidiary of Barrick Gold Corporation, (Barrick) for the acquisition of 100% of the Colosseum Gold Mine in San Bernardino County, California USA, (Colosseum) and will acquire 83 mining claims that host the Colosseum Gold Mine and surrounding areas, totalling approximately 1,600 acres. The material terms of the Agreement are:

• Dateline must deposit US$500,000 into an escrow account by March 21, 2021, THIS WAS DELAYED BUT COMPLTETED ON 7 April 2021. The Escrow Amount will be released to LAC in the event Dateline terminates the Agreement or if the transactions contemplated in the Agreement do not close by the maximum allowable drop-dead date of October 21, 2021. In addition, LAC may use the Escrow Amount to defray certain costs until Dateline replaces the reclamation bonds.

• Dateline must provide the required reclamation bonds to the relevant authorities. The current amount of the bonds is US$756,880.

• Dateline to pay Barrick US$1,500,000 on the earlier of:

• Completion of a bankable feasibility study; or

• Commencement of site development for the extraction of ore; or

• Sale of the properties.

• Barrick is entitled to a 2.5% Net Smelter Return royalty on all future production of any metals from the Colosseum Gold Mine.

• The transaction is subject to closing conditions standard for this type of transaction, including obtaining necessary corporate and governmental approvals.

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DATELINE RESOURCES LIMITED DIRECTORS’ REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2020

Dateline has also agreed to pay the facilitators of the Colosseum transaction (each of whom are unrelated to the Company) a fee payable in the form of new securities in Dateline. Accordingly, Dateline has agreed to issue to the facilitators the following securities:

• 95 million fully paid Dateline shares. These were issued on 26 March 2021,

• 150 million options exercisable into new Dateline shares at $0.006 at any time on or before 5pm on February 28, 2022 subject to the Company obtaining regulatory approval to complete a drill program at the Colosseum. These were issued on 26 March 2021, and

• 100 million options exercisable into new Dateline shares at $0.008 at any time on or before 5pm on February 28, 2023 subject to the Company proving up an indicated resource of at least 1 million ounces of gold at the Colosseum. These were issued on 26 March 2021.

On 16 March, 2021 the Company announced that a total of 425,000,000 fully paid ordinary shares in the Company were issued by the Company to sophisticated and professional investors. The shares were issued at a price of $0.0025 per share raising $1,062,500 to be used for working capital. On 26 March 2021, there was a further placement to a sophisticated investor of 10,000,000 shares at an issue price of $0.0025 per share raising a further $25,000 bringing the total raised to $1,087,500 to be used for working capital.

On 24 March, 2021 the Company announced that it had accepted a detailed offer of funding from a US based lender for US$6,843,000 (approximately A$8,840,000) to be used as a working capital facility to advance the Company’s 100% owned Gold Links Project in Colorado USA into production. The terms of the loan facility are:

• 10-year maturity date (March 2031),

• First four years are interest only followed by principal and interest for the remainder of the term,

• Interest rate of 6.00% per annum, payable monthly,

• The loan will be advanced in full and not subject to drawdown limits, and

• Facility to be secured and ringfenced by the Gold Links Project in Colorado.

91 million shares were issued on 9 April 2021 as a fee to the facilitators of this facility.

No other matter or event has arisen since 31 December 2020 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 Group’s financial report.

7. AUDITOR’S INDEPENDENCE DECLARATION

The auditor’s independence declaration under Section 307C of the Corporations Act 2001 is set out on Page 7 of this report.

Signed in accordance with a resolution of Directors.

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Mark Johnson AO Chairman 13 April 2021

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Auditor’s Independence Declaration

As lead auditor for the review of the consolidated financial report of Dateline Resources Limited for the halfyear ended 31 December 2020, 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 13 April 2021 .

M D Muller Director

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DATELINE RESOURCES LIMITED

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE HALF YEAR ENDED 31 DECEMBER 2020

Note Continuing operations Revenue Exploration expenditure Employment expenses Finance charges Exchange gain Administration expenses 4 Loss on sale of assets Loss from continuing operations before income tax Income tax expense Loss from continuing operations after income tax Other comprehensive income/(loss) Foreign Currency Translation Reserve Total comprehensive loss for the period Loss for the period is attributable to: Owners of the Company Total comprehensive loss for the period attributable to: Owners of the Company Loss per share from continuing operations attributable to the ordinary equity holders of the Company: Basic and diluted loss per share – cents per share 11	31-Dec-20 $ 755 (89,831) (224,754) (411,107) 615,315 (992,466) (2,002) (1,104,090) - (1,104,090) 40,781 (1,063,309) (1,104,090) (1,104,090) (1,063,309) (1,063,309) Cents (0.013)	31-Dec-19
		$ 17,480 (277,826) (19,298) (379,080) 1,686 (1,102,212) -
		(1,759,250) -
		(1,759,250) (20,762)
		(1,780,012)
		(1,759,250)
		(1,759,250)
		(1,780,012)
		(1,780,012)
		Cents (0.022)

The above Consolidated Statement of Profit or Loss and Other 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 2020

Note Current Assets Cash & cash equivalents Trade & other receivables Financial assets Total Current Assets Non-Current Assets Plant & equipment land & buildings 5 Exploration & evaluation expenditure 6 Total Non-Current Assets TOTAL ASSETS Current Liabilities Trade & other payables 7 Loans from related parties 8 Total Current Liabilities Non-Current Liabilities Trade & other payables 7 Loans from related parties 8 Total Non-Current Liabilities TOTAL LIABILITIES NET ASSETS Equity attributable to the equity holders of the Company Contributed equity 9 Reserves 10 Accumulated losses TOTAL EQUITY

31-Dec-20 30-Jun-20 $ $ 177,094 158,362 30,214 26,320 126,316 185,163 333,624 369,845 16,423,802 16,694,316 8,395,588 8,357,959 24,819,390 25,052,275 25,153,014 25,422,120 434,470 338,432 1,067,077 1,107,089 1,501,547 1,445,521 5,586,270 5,959,526 2,549,160 1,456,727 8,135,430 7,416,253 9,636,977 8,861,774 15,516,037 16,560,346 34,646,621 34,646,621 (601,722) (449,673) (18,528,862) (17,636,602) 15,516,037 16,560,346

The above Consolidated 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 2020

Balance as at 1 July, 2020 Total Loss Total other comprehensive income Total comprehensive Loss for the Period Transaction with owners in their capacity as owners Options expired Options issued Balance as at 31 December 2020 Balance as at 1 July, 2019 Total Loss Total other comprehensive loss Total comprehensive Loss for the Period Transaction with owners in their capacity as owners Options expired Contributions of equity Balance as at 31 December 2019	Issued Capital Accumulated Losses Option Valuation Reserve Foreign Currency Reserve TOTAL $ $ $ $ $ 34,646,621 (17,636,602) 211,830 (661,503) 16,560,346 - (1,104,090) - - (1,104,090) - - - 40,781 40,781
	- (1,104,090) - 40,781 (1,063,309) - 211,830 (211,830) - - - - 19,000 - 19,000
	34,646,621 (18,528,862) 19,000 (620,722) 15,516,037
	Issued Capital Accumulated Losses Option Valuation Reserve Foreign Currency Reserve TOTAL $ $ $ $ $ 34,497,373 (13,910,025) 327,169 (645,782) 20,268,735 - (1,759,250) - - (1,759,250) - - - (20,762) (20,762)
	- (1,759,250) - (20,762) (1,780,012) - 115,339 (115,339) - - 149,248 - - - 149,248
	34,646,621 (15,553,936) 211,830 (666,544) 18,637,971

The above Consolidated 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 2020

Cash flows used in operating activities Receipts from customers Payment to suppliers and employees Net cash flows used in operating activities Cash flows used in investing activities Deposits and loans made Payment for fixed assets Payment for exploration & evaluation expenditure Net cash flows used in investing activities Cash flows from/(used in) financing activities Repayment loan advance Advance of related party loans Net cash flows from /(used in) financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period

31-Dec-20 31-Dec-19 $ $ - 17,480 (882,783) (884,800) (882,783) (867,320) 45,804 (31,490) - (1,004,630) (71,923) (1,147,526) (26,119) (2,183,646) (72,366) (303,845) 1,000,000 - 927,634 (303,845) 18,732 (3,354,811) 158,362 4,816,924 177,094 1,462,113

The above Consolidated 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 2020

1. CORPORATE INFORMATION

The financial report of Dateline Resources Limited (the “Company”) covers the period from 1 July 2020 to 31 December 2020 (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 mineral exploration company with existing exploration projects in the Republic of Fiji and mining permits in Colorado USA. 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 9 April 2021.

2. BASIS OF PREPARATION AND ACCOUNTING POLICIES

(a) 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 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 2020 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 2020. These accounting policies are consistent with Australian Accounting Standards and with International Financial Reporting Standards.

(b) Going Concern

The financial report has been prepared on a going concern basis, which contemplates the continuity of normal business activities and the realisation of assets and liabilities in the normal course of business.

During the period, the consolidated entity incurred a comprehensive loss of $1,063,309 (2019: $1,780,012 loss) a net cash inflow of $18,732 (2019: $3,354,811 outflow) and net cash out flow from operations of $882,783 (2019: $867,320). As at 31 December 2020, the consolidated entity also had a deficiency in working capital of $1,167,923 (June 2020 : $1,075,676 deficiency in working capital) and cash assets of $177,094 (June 2020 : $158,362).

The ability of the consolidated group to continue as a going concern is dependent upon the group being able to generate sufficient funds to satisfy exploration commitments and working capital requirements. As detailed in Note 16 to these accounts the Company has taken steps to ensure that it has adequate working capital to not only satisfy existing commitments but to also future expenditure required to meet its objectives. These include:

• A completed capital raising in March 2021 of $1,087,500, and

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DATELINE RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2020

• The finalisation in March 2021 of a US$6,843,000 (approximately A$8,840,000) loan facility at attractive rates which is repayable over a 10 year period. 91 million shares were issued on 9 April 2021 as a fee to the facilitators of this facility.

As a result of the above, the Company is very well placed to execute its corporate strategy and the directors believe that the going concern basis for the preparation of the financial report of the Group is appropriate and that no material uncertainty exists that would alter this opinion. No adjustment has been made in relation to the recoverability and classification of recorded assets amounts and classification of liabilities that might be necessary should the consolidated entity not continue as a going concern.

(c) New or amended Accounting Standards and Interpretations adopted

The company has adopted all of the new or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board (“AASB”) that are mandatory for the current reporting period.

Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.

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 Managing Director in order to allocate resources to the segment and to assess its performance.

				Consolidation
	Australia	USA	Fiji	Entries	TOTAL
31 December 2020	A$	A$	A$	A$	A$
Revenues	-	-	-	-	-
Segment Result	(234,510)	(288,610)	-	(580,970)	(1,104,090)
31 December 2019
Revenues	17,480	-	-	-	17,480
Segment Result	(958,823)	(800,427)	-	-	(1,759,250)
31 December 2020
Total Segment Assets	40,217,862	19,506,395	4,435,064	(39,006,307)	25,153,014
Total Segment Liabilities	10,467,569	254,835	5,189,556	(6,274,983)	9,636,977
30 June 2020
Total Segment Assets	39,592,597	19,801,515	4,453,345	(38,425,337)	25,422,120
Total Segment Liabilities	9,626,793	303,339	5,206,625	(6,274,983)	8,861,774

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DATELINE RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2020

4. ADMINISTRATION EXPENSES Consulting and corporate expenses Compliance and regulatory expenses Depreciation expenses Other administration expenses TOTAL ADMINISTRATION EXPENSES 5. PLANT & EQUIPMENT LAND & BUILDINGS Carrying amount of Fixed Assets (a) Plant & Equipment At Valuation / Cost Less accumulated depreciation Total Plant & Equipment Balance at the beginning of the period Balance at the end of the period (b) Office Equipment At Cost Less accumulated depreciation Total Office Equipment Movement during the Period Balance at the beginning of the period Depreciation expense Balance at the end of the period (c) Mining plant & equipment At Cost Less accumulated depreciation Total mining plant & equipment Movement during the Period Balance at the beginning of the period Additions Depreciation expense Balance at the end of the period (d) Mining & Mill Development At Cost Total Mining land & buildings Movement during the Period Balance at the beginning of the period Additions Balance at the end of the period	456,605 23,361 292,974 219,526 992,466 31-Dec-20 $ 16,423,802 53,682 (53,682) - - - 59,267 (55,846) 3,421 4,128 (707) 3,421 4,196,275 (637,838) 3,558,437 3,814,262 - (255,825) 3,558,437 5,375,598 5,375,598 5,375,598 - 5,375,598	525,218 70,890 - 506,104
		1,102,212
		30-Jun-20
		$ 16,694,316
		53,682 (53,682)
		-
		- -
		59,267 (55,139)
		4,128
		7,494 (3,366)
		4,128
		4,196,275 (382,013)
		3,814,262
		3,697,898 498,377 (382,013)
		3,814,262
		5,375,598
		5,375,598
		4,737,436 638,162
		5,375,598

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DATELINE RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2020

5. PLANT & EQUIPMENT LAND & BUILDINGS (Cont'd) (e) Mining land & buildings At Cost Total mining plant & equipment Movement during the Period Balance at the beginning of the period Additions Balance at the end of the period (f) Furniture & Fixtures At Cost Less accumulated depreciation Total Furnitue & Fixtures Movement during the period Balance at the beginning of the period Additions Disposals Depreciation expense Balance at the end of the period (g) Motor Vehicles At Cost Less accumulated depreciation Total Motor Vehicles Movement during the period Balance at the beginning of the period Additions Depreciation expense Balance at the end of the period 6. EXPLORATION & EVALUATION EXPENDITURE Carrying amount of exploration expenditure Movement during the Period Balance at the beginning of the Period Expenditure incurred during the Period Balance at the end of the Period

31-Dec-20 30-Jun-20 $ $ 7,425,963 7,425,963 7,425,963 7,425,963 7,425,963 7,412,881 - 13,082 7,425,963 7,425,963 4,598 10,518 (1,127) (1,600) 3,471 8,918 8,918 - - 10,518 (5,920) - 473 (1,600) 3,471 8,918 79,079 79,079 (22,167) (13,632) 56,912 65,447 65,447 - - 79,079 (8,535) (13,632) 56,912 65,447 8,395,588 8,357,959 8,357,959 7,035,316 37,629 1,322,643 8,395,588 8,357,959 Consolidated

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. 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 2020.

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DATELINE RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2020

31-Dec-20 30-Jun-20 7. TRADE & OTHER LIABILITIES $ $ Current Trade and sundry creditors 418,869 310,248 Accruals 15,601 28,184 434,470 338,432 Non-Current Amount owed to the vendors of ALSH LLC 2,696,013 2,866,700 Amount owed to the vendors of CRG Mining LLC 2,696,013 2,866,700 PPP Loan Liability 163,548 182,462 Other loans 30,696 43,664 5,586,270 5,959,526 The amount above of $5,586,270 was arrived at after applying an annual discount rate Consolidated	31-Dec-20 30-Jun-20 7. TRADE & OTHER LIABILITIES $ $ Current Trade and sundry creditors 418,869 310,248 Accruals 15,601 28,184 434,470 338,432 Non-Current Amount owed to the vendors of ALSH LLC 2,696,013 2,866,700 Amount owed to the vendors of CRG Mining LLC 2,696,013 2,866,700 PPP Loan Liability 163,548 182,462 Other loans 30,696 43,664 5,586,270 5,959,526 The amount above of $5,586,270 was arrived at after applying an annual discount rate Consolidated
of 10% to future payments which are all payable on 31 December 2022.
8. LOANS FROM RELATED PARTIES Current Amounts owed to Southern Cross Resources NL Total current loans from shareholders Non-Current Amounts owed to Mr. Mark Johnson Total non-current loans from shareholders	1,067,077 1,107,089 1,067,077 1,107,089 2,549,160 1,456,727 2,549,160 1,456,727

The amount owed to Southern Cross Exploration N.L. of $1,067,077 is made up of:

• $196,994 (June 2020 $275,359) which are expenses paid by Southern Cross Exploration N.L. for and on behalf of the Company. This amount is unsecured and interest free.

• $870,083 (June 2020 $831,730) which represents unsecured loans including interest. Details of these loans are included in note 12. Interest of $32,354 (Dec 2019 : $48,725) was charged on the loans during the period.

• The amount owed to Mr. Johnson of $2,549,160 (June 2020 $1,456,727) represents unsecured loans including interest. Details of these loans are included in note 12. The repayment date of this loan has been extended to 31 March 2022. Interest of $92,433 (Dec 2019 : $79,624) was charged on the loans during the period.

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DATELINE RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2020

9. CONTRIBUTED EQUITY (a) Share Capital

(a) Share Capital Ordinary Capital Number of Shares Paid Up (b) Movements in Share Capital 01 Jul 2020 Opening Balance Issue of shares Closing Balance 10. RESERVES Option Valuation Reserve Foreign Currency Translation Reserve	31-Dec-20 30-Jun-20 8,210,078,076 8,210,078,076 $34,646,621 $34,646,621 Number of Shares $ 8,210,078,076 34,646,621 - - 8,210,078,076 34,646,621 31-Dec-20 30-Jun-20 $ $ 19,000 211,830 (620,722) (661,503) (601,722) (449,673) Consolidated Consolidated Consolidated

Option Valuation Reserve

10 million unlisted options valued at $211,830 lapsed during the period. The option condition vested, however the options were not exercised.

On 11 December, 2020 the Company did issue 492,604,684 unlisted options with an exercise price of $0.00383 and expiry date of 11 December, 2024. These options are recognised under Accounting Standard AASB 2 as a Share Based Payment and were valued at $19,000 as at 31 December 2020.

Foreign Currency Translation Reserve

The foreign currency translation reserve records exchange differences arising on translation of the foreign controlled subsidiaries.

11. EARNINGS PER SHARE Basic and diluted loss per share Net loss used to calculate earnings loss per share Weighted average number of ordinary shares on issue used in the calculation of earnings per share	Six Months ended Six Months ended 31-Dec-20 31-Dec-19 ($0.013) ($0.022) ($1,104,090) ($1,759,250) 8,210,078,076 8,154,211,897 Consolidated

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DATELINE RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2020

12. RELATED PARTY DISCLOSURES

As at 31 December 2020 there were loans outstanding from related parties Southern Cross Exploration N.L. (“SXX”) and Mr. Mark Johnson as depicted in the table below:

Loan from	31 Dec 2020 Interest Principal Interest O/S Rate $67,798 $17,824 $85,622 10.0% $110,529 $26,290 $136,819 10.0% $55,161 $13,146 $68,307 10.0% $108,566 $26,028 $134,594 10.0% $104,101 $24,976 $129,077 10.0% $54,439 $13,146 $67,585 10.0% $108,218 $26,290 $134,508 10.0% $86,542 $21,030 $107,572 10.0% $695,354 $168,730 $864,084 Southern Cross Exploration NL as at:
Loan Date 18/09/2018 19/09/2018 24/09/2018 10/10/2018 12/10/2018 29/10/2018 14/11/2018 15/11/2018 TOTAL

The above loans are repayable on demand.

	31 Dec 2020 Interest Principal Interest O/S Rate $1,048,803 $257,989 $1,306,792 10.0% $200,000 $14,751 $214,751 10.0% $300,000 $9,699 $309,699 10.0% $100,000 $7,068 $107,068 10.0% $200,000 $5,808 $205,808 10.0% $200,000 $4,220 $204,220 10.0% $2,048,803 $299,535 $2,348,338 Loan from Mark Johnson as at :
Loan Date 13/09/2018 27/05/2020 8/07/2020 25/08/2020 17/09/2020 16/10/2020 TOTAL

13. DIVIDEND

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

14. COMMITTMENTS

14. COMMITTMENTS
Exploration & Evaluation Commitments
	31-Dec-	30-Jun-
	20	20

14.		COMMITTMENTS
		Exploration & Evaluation Commitments
				31-Dec- 20		30-Jun- 20
				$		$
		Within one year		- - -		66,814
		After one year but not more than five years				-
		After more than fiveyears				-
		Total minimum commitment		-		66,814

The commitments above are subject to mining expenditure. They relate to the exploration tenements granted to, and under application by the Group.

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DATELINE RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2020

15. CONTINGENT LIABILITIES

There are existing contingent liabilities in regard to Royalty Arrangements to the vendors of CRG Mining LLC. (CRG). The vendors of CRG are entitled to receive royalty payments at a rate of US$50 for each ounce of gold produced from any mining operations conducted on the acquired tenements up to a maximum of US$5 million (Maximum Amount). Regardless of production, an aggregate minimum amount of US$2.5 million will be paid by 31 December 2022 which is included in the deferred consideration. (Refer note 7).

Relating to the Sooner Lucky Strike Mine there is also a contingent liabilities in regard to Royalty Arrangements to the vendors of ALSH LLC. (ALSH). The vendors of ALSH are entitled to receive royalty payments at a rate of US$50 for each ounce of gold produced from any mining operations conducted on the acquired tenements up to a maximum of US$5 million (Maximum Amount). Regardless of production, an aggregate minimum amount of US$2.5 million will be paid by 31 December 2022 which is included in the deferred consideration. (Refer note 7).

Royalties payable to the previous owner of Gunnison Property

During the year ended 30 June 2018 the Company acquired freehold land over the Gold Links property. The agreement entitles the previous owner of this land to Royalty payments as detailed below:

The Company shall pay Royalties to the previous owner based on a percentage of Net Smelter Returns base on the Gold Price per Ounce as follows:

Gold Price per Ounce (USD)	Ownership Percentage of Net Smelter Returns
$1,000 and below	1.0%
$1,001 to 1,500	An Additional 0.1% for every $100 in excess of $1,000 up to $1,500
$1,501 to $2,000	2.0%
$2,001 to $5,500	2.0% plus additional 0.1% for every $100 in excess of $2,000 up to $5,500
$5,501and above	7.0%

The percentage will be adjusted bi- annually if the total amount of gold produced over a 6 month period is great than one ounce per ton. The adjustment is calculated by multiplying the average Ownership Percentage of Net Smelter returns during each 6 month period by the Gold Ratio. The Gold Ratio is the ratio of the amount of ounces of gold produced verses the tonnes of ore mined and milled.

The maximum percentage payable is capped at 7%.

Minimum payment if no production occurs

If no production is under taken after 31 October 2018 the previous owner is entitled to US$15,000 per calendar year if the following condition is met:

• (i) A commercial quantity (as determined by the previous owner’s project engineer and geologist) of ore is available.

There were no changes to contingent liabilities since 30 June 2020.

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DATELINE RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2020

16. SIGNIFICANT MATTERS AFTER BALANCE DATE

The impact of the COVID-19 pandemic is ongoing. Management is closely monitoring the evolution of this pandemic and the response of the governments, particularly restrictions in place to contain this virus and how this will impact the Group and the economy, as a whole.

The Group has continued to operate in accordance with its plans up to the date of this report and management believes it will continue to do so even though the extent of the impact COVID-19 may have on its future liquidity, financial performance and position and operations is uncertain and cannot be reasonably estimated at the date these financial statements were issued.

On 15 March 2021, the Company did announce the execution of an agreement with LAC Minerals (USA) LLC, (LAC) a wholly owned subsidiary of Barrick Gold Corporation, (Barrick) for the acquisition of 100% of the Colosseum Gold Mine in San Bernardino County, California USA, (Colosseum) and will acquire 83 mining claims that host the Colosseum Gold Mine and surrounding areas, totalling approximately 1,600 acres. The material terms of the Agreement are:

• Dateline must deposit US$500,000 into an escrow account by March 21, 2021. The Escrow Amount will be released to LAC in the event Dateline terminates the Agreement or if the transactions contemplated in the Agreement do not close by the maximum allowable drop-dead date of October 21, 2021. In addition, LAC may use the Escrow Amount to defray certain costs until Dateline replaces the reclamation bonds.

• Dateline must provide the required reclamation bonds to the relevant authorities. The current amount of the bonds is US$756,880.

• Dateline to pay Barrick US$1,500,000 on the earlier of:

• Completion of a bankable feasibility study; or

• Commencement of site development for the extraction of ore; or

• Sale of the properties.

• Barrick is entitled to a 2.5% Net Smelter Return royalty on all future production of any metals from the Colosseum Gold Mine.

• The transaction is subject to closing conditions standard for this type of transaction, including obtaining necessary corporate and governmental approvals.

Dateline has also agreed to pay the facilitators of the Colosseum transaction (each of whom are unrelated to the Company) a fee payable in the form of new securities in Dateline. Accordingly, Dateline has agreed to issue to the facilitators the following securities:

• 95 million fully paid Dateline shares. These were issued on 26 March 2021,

• 150 million options exercisable into new Dateline shares at $0.006 at any time on or before 5pm on February 28, 2022 subject to the Company obtaining regulatory approval to complete a drill program at the Colosseum. These were issued on 26 March 2021, and

• 100 million options exercisable into new Dateline shares at $0.008 at any time on or before 5pm on February 28, 2023 subject to the Company proving up an indicated resource of at least 1 million ounces of gold at the Colosseum. These were issued on 26 March 2021.

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DATELINE RESOURCES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2020

On 16 March, 2021 the Company announced that a total of 425,000,000 fully paid ordinary shares in the Company were issued by the Company to sophisticated and professional investors. The shares were issued at a price of $0.0025 per share raising $1,062,500 to be used for working capital. On 26 March 2021, there was a further placement to a sophisticated investor of 10,000,000 shares at an issue price of $0.0025 per share raising a further $25,000 bringing the total raised to $1,087,500 to be used for working capital.

On 24 March, 2021 the Company announced that it had accepted a detailed offer of funding from a US based lender for US$6,843,000 (approximately A$8,840,000) to be used as a working capital facility to advance the Company’s 100% owned Gold Links Project in Colorado USA into production. The terms of the loan facility are:

• 10-year maturity date (March 2031),

• First four years are interest only followed by principal and interest for the remainder of the term,

• Interest rate of 6.00% per annum, payable monthly,

• The loan will be advanced in full and not subject to drawdown limits, and

• Facility to be secured and ringfenced by the Gold Links Project in Colorado.

91 million shares were issued on 9 April 2021 as a fee to the facilitators of this facility.

No other matter or event has arisen since 31 December 2020 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 Group’s financial report.

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DATELINE RESOURCES LIMITED DIRECTORS’ DECLARATION FOR THE HALF YEAR ENDED 31 DECEMBER 2020

In the Directors’ opinion:

• (a) The financial statements and notes of the Company and its controlled entities are in accordance with the Corporations Act 2001, including:

• (i) Giving a true and fair view of the financial position as at 31 December 2020 and the performance for the period 1 July 2020 to 31 December 2020 of the Company and its controlled entities.

• (ii) Complying with Accounting Standard AASB 134 Interim Financial Reporting, the Corporations Regulations 2001 and other mandatory professional reporting requirements.

• (b) There are reasonable grounds to believe that the Company and its controlled entities will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of Directors.

On behalf of the Board of Directors.

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Mark Johnson Chairman 13 April 2021

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Independent Auditor’s Review Report to the Members of Dateline Resources Limited

Report on the Consolidated Half-Year Financial Report

Conclusion

We have reviewed the half-year financial report of Dateline Resources Limited (“the company”), which comprises the consolidated statement of financial position as at 31 December 2020, the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the half-year ended on that date, a summary of significant accounting policies and other explanatory information, 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.

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

• (a) giving a true and fair view of the consolidated entity’s financial position as at 31 December 2020 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 .

Basis for Conclusion

We conducted our review in accordance with ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity . Our responsibilities are further described in the Auditor’s Responsibilities for the Review of the Financial Report section of our report. We are independent of the company in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards ) (the Code) that are relevant to our audit of the annual financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.

Responsibility of the Directors for the 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.

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Auditor’s Responsibility for the Review of the Financial Report

Our responsibility is to express a conclusion on the half-year financial report based on our review. ASRE 2410 requires us to conclude whether we have become aware of any matter that makes us believe that the half-year 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 2020 and its performance for the halfyear ended on that date, and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 .

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.

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HLB Mann Judd Assurance (NSW) Pty Ltd Chartered Accountants

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M D Muller Director

Sydney, NSW 13 April 2021

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