Announcement PDF 31 January 2025 Activities Report for the Quarter Ended 31 December 2024 Dart Mining NL (ASX: DTM) (“Dart”, “Dart Mining” or “the Company”) is pleased to present its Quarterly Report for the three-month period ending 31th December 2024 and to provide commentary and an update to shareholders. Highlights: • • • • Completion of the Triumph Gold Project acquisition from Sunshine Metals (SHN) Commencement of drilling at the Triumph Gold Project. Commencement of field activities at the Triumph Gold Project that generated positive rock chip sample results 475m drilled at Rushworth on the Phoenix prospect. DTM’s Chairperson, James Chirnside, commented: “The Fourth quarter was defining for Dart with the completion of the Triumph Gold Project acquisition and the commencement of field activities and drilling on the project. The project will provide constant news flow as the declared resource expands and is upgraded. Triumph holds further significant exploration upside for the company, and it is the most advanced project that we have ever tackled. Dart’s use of its inhouse rigs is a distinct advantage, that allows us to drill considerably more metres for the same money, and that is exactly what we intend to do.” Triumph Gold Project December quarter saw the completion of the Triumph Acquisition (ASX: DTM Dec2024) and the commencement of drilling and field activities across the project. Drilling commenced on the project during December at the Constitution Prospect aiming to increase the mineral inventory and upgrade resource classification. Drilling is targeting the eastern zone of the existing resource at Constitution with drilling extending deeper below the Construction resource to test the depth potential. Figure 1 – First stages of Phase 1 Diamond drilling underway at the Constitution prospect. 2 Results were received (ASX: DTM Dec 2024) from our first on ground reconnaissance activities which has affirmed historical outcropping targets in Triumph’s South Corridor and highlight the attractive resource expansion potential at the Triumph project. Rock Chip Highlights • • • 9.9 g/t Au, 49.7 g/t Ag, and 1.9% Pb (24TRRCK001); 6.87 g/t Au and 125 g/t Ag (24TRRCK005); and 1.47 g/t Au and 32.2 g/t Ag (24TRRCK003 Table 1: January 2025 Rock Chip Sampling Results (ASX: DTM Dec 2024) Sample ID 24TRRCK001 24TRRCK002 24TRRCK003 24TRRCK004 24TRRCK005 24TRRCK006 24TRRCK007 Easting 334031.91 334041.12 334308.57 334362.77 334531.49 334521.32 334779.15 Northing 7308836.74 7308828.63 7308552.83 7308369.20 7307960.77 7307963.30 7308826.59 Au (g/t) 9.9 0.06 1.47 1.25 6.87 0.74 0.5 Ag (g/t) 49.7 0.48 32.2 7.99 125 12.15 3.65 Pb (ppm) 19,000 136 6,850 2,840 1,095 4,590 504 Sb (ppm) 125 5.6 24.3 58.5 311 488 11 Figure 2 – Plan map showing completed assays of the 7 rock chip samples, Southern Corridor at Triumph. (ASX: DTM Dec 2024) 3 Rushworth Gold Project diamond drilling Drilling continued at Rushworth during the quarter, 475m drilled at the Phoenix Prospect. Drilling focused on the structural controls along strike of the historic mining at Phoenix Reef. Final interpretation and results are expected to be released during the first quarter of 2025. The Rushworth Goldfield is located in Central Victoria, 140 km north of Melbourne, and 65 km east of Bendigo. The Rushworth Goldfield is well-exposed, with the host strata exposed at surface. These strata have been tightly folded into upright, east-west trending folds, and two primary lines of gold quartz veining that extend for a cumulative strike length of approximately 14 km. Gold mineralisation is interpreted to be an orogenic, epizonal style similar to that forming high-grade gold shoots at the nearby Fosterville Mine. Within the Rushworth Goldfield, mineralised quartz veins have been intersected at depths below 400m in a limited number of historical workings, and up to 200m in modern drill holes. Historical workings rarely proceeded beyond the water table, leaving most veins untouched at depth. Victorian Tenements The Company is undertaking a strategic review of the Victorian Tenement Holdings, and associated prospectivity. Finance At the end of the December 2024 Quarter the Company had $409,000 cash at the bank. Payments to related parties were approximately $42,000 in director fees, $16,000 in legal services, and $67,000 in exploration wages and consulting fees. Release approved by the Board of Directors For more information, please contact: James Chirnside Managing Director Dart Mining NL jchirnside@dartmining.com.au +61 419 605 842 Aimee Coates Investor Relations Dart Mining NL acoates@dartmining.com.au About Dart Mining In August 2024 Dart Mining (ASX:DTM) entered into a binding agreement to purchase the Triumph Gold Project, this is Dart’s first step into an advanced intrusion related Gold system project in Queensland. Dart will look to develop a regional presence in Queensland through advanced stage intrusion related and epithermal Gold projects. Dart Mining will continue to evaluate several historic Goldfields in Central and Northeast Victoria including the Rushworth Goldfield and the new porphyry and lithium province in Northeast Victoria identified by Dart. The area is prospective for precious, base, and strategic metals including Lithium, Gold, Antimony, Silver, Copper, Molybdenum, Zinc and Tin. Dart Mining has built a strategically placed Gold exploration footprint in the Central and Northeast regions of Victoria, where historic surface and alluvial Gold mining indicates the existence of potentially significant Gold endowment. Additional JORC Information Further details relating and information relating to Dart Mining’s Strategic and Technology metals exploration programs can be found in Dart Mining’s ASX announcements on the company’s website. Dart Mining NL ABN: 84 119 904 880 Level 6, 412 Collins Street Melbourne VIC 3000 Contact: James Chirnside Email: jchirnside@dartmining.com.au Mobile: +61 447 447 613 Webpage: www.dartmining.com.au LinkedIn: Dart Mining NL Twitter: @DartMining 4 APPENDIX 1: Tenement Status All tenement applications continue to pass through the approvals process with the tenements remaining in good standing as of the 31st December 2024 (Table 2). Table 2 - TENEMENT STATUS Name Tenement Type EL5315 Mitta Mitta4&5 Exploration Licence Area (km2) Unless specified 148 EL006016 Rushworth4 Exploration Licence EL006277 Empress5 Exploration Licence EL006300 Eskdale3&5 EL006486 Mt Creek5 EL006764 Tenement Number Interest Location 100% NE Victoria 32 100% Central Victoria 87 100% NE Victoria Exploration Licence 96 100% NE Victoria Exploration Licence 116 100% NE Victoria Cravensville Exploration Licence 170 100% NE Victoria EL006861 Buckland Exploration Licence 414 100% NE Victoria EL007007 Union Exploration Licence 3 100% Central Victoria EL006994 Wangara Exploration Licence 190 100% Central Victoria EL007008 Buckland West Exploration Licence 344 100% NE Victoria EL007099 Sandy Creek5 Exploration Licence 437 100% NE Victoria EL006865 Dart Exploration Licence) 567 100% NE Victoria EL006866 Cudgewa Exploration Licence 508 100% NE Victoria EL007170 Berringama Exploration Licence 27 100% NE Victoria EL007430 Buchan EL (Application) 546 100% Gippsland EL007435 Goonerah EL (Application) 587 100% Gippsland EL008161 Colbinannin EL (Application) 458 100% Central Victoria EL008542 Star of the West EL (Application) 2 100% Central Victoria EL007425 Deddick Exploration Licence 341 100% Gippsland EL007428 Boebuck Exploration Licence 355 100% NE Victoria EL007426 Walwa Exploration Licence 499 100% NE Victoria EL007754 Tallandoon5 Exploration Licence 88 100% NE Victoria RL006615 Fairley’s2 Retention License 340 Ha 100% NE Victoria RL006616 Unicorn1&2 Retention License 23,243 Ha 100% NE Victoria EL9476 Woomargama Exploration Licence 85 100% New South Wales EL9516 Brewarrina Exploration Licence 185 100% New South Wales EPM18486 Triumph Exploration Licence 100 100% Queensland EPM19343 Triumph Exploration Licence 37 100% Queensland EPM29097 Triumph EL (Application) 312 100% Queensland All tenements remain in good standing as of 31 December 2024. NOTE 1: Unicorn Project area subject to a 2% NSR Royalty Agreement with Osisko Gold Royalties Ltd dated 29 April 2013. NOTE 2: Areas subject to a 1.5% Founders NSR Royalty Agreement. NOTE 3: Areas are subject to a 1.0% NSR Royalty Agreement with Minvest Corporation Pty Ltd (See DTM ASX Release 1 June 2016). NOTE 4: Areas are subject to a 0.75% Net Smelter Royalty on Gold production, payable to Bruce William McLennan. NOTE 5: Tenements subject to conditions noted in the SQM earn-in agreement (Dart Mining ASX December 2022 SQM Earn-In) 5 Figure 3 – Victorian Tenement location Plan 6 Rule 5.5 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity DART MINING NL ABN Quarter ended (“current quarter”) 84 119 904 880 31 December 2024 Consolidated statement of cash flows Current quarter $A’000 1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for Year to date (6 months) $A’000 - - (a) exploration & evaluation - - (b) development - - (c) production - - (d) staff costs (9) (133) (422) (638) (e) administration and corporate costs (Includes reallocation of exploration costs to investing activities from previous quarter) Dividends received (see note 3) 1.4 Interest received 2 2 1.5 Interest and other costs of finance paid (4) (6) 1.6 Income taxes paid - - 1.7 Government grants and tax incentives 10 10 1.8 Other (vegetation offset receipts) 199 199 1.9 Net cash from / (used in) operating activities (227) (567) 2. Cash flows from investing activities 2.1 Payments to acquire or for: - - (1,000) (1,000) (c) property, plant and equipment (178) (194) (d) exploration & evaluation (623) (917) - - (a) entities (b) tenements (e) investments ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 1 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Consolidated statement of cash flows (f) 2.2 other non-current assets Current quarter $A’000 Year to date (6 months) $A’000 (10) (15) (a) entities - - (b) tenements - - (c) property, plant and equipment - 33 (d) investments - - 10 10 Proceeds from the disposal of: (e) other non-current assets 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (SQM Earn - in) - - 2.6 Net cash from / (used in) investing activities (1,801) (2,083) 3. Cash flows from financing activities 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 2,300 3,075 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities (152) (203) 3.5 Proceeds from borrowings 25 60 3.6 Repayment of borrowings (37) (60) 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other (payment of insurance funding) (45) (45) 3.10 Net cash from / (used in) financing activities 2,091 2,827 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 344 231 4.2 Net cash from / (used in) operating activities (item 1.9 above) (227) (567) 4.3 Net cash from / (used in) investing activities (item 2.6 above) (1,801) (2083) 4.4 Net cash from / (used in) financing activities (item 3.10 above) 2,091 2,827 ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 2 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Consolidated statement of cash flows 4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period 5. Reconciliation of cash and cash equivalents Current quarter $A’000 Year to date (6 months) $A’000 409 Current quarter $A’000 409 Previous quarter $A’000 at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts 5.1 Bank balances 409 344 5.2 Call deposits - - 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 409 344 6. Payments to related parties of the entity and their associates 6.1 Aggregate amount of payments to related parties and their associates included in item 1 58 6.2 Aggregate amount of payments to related parties and their associates included in item 2 67 Current quarter $A'000 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 3 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities 7.2 Credit standby arrangements 7.3 Other (please specify) 7.4 Total financing facilities 7.5 Unused financing facilities available at quarter end 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. 8. Estimated cash available for future operating activities 8.1 Net cash from / (used in) operating activities (item 1.9) (227) 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) (628) 8.3 Total relevant outgoings (item 8.1 + item 8.2) (855) 8.4 Cash and cash equivalents at quarter end (item 4.6) 409 8.5 Unused finance facilities available at quarter end (item 7.5) 8.6 Total available funding (item 8.4 + item 8.5) 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) $A’000 409 (0.48) Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: Yes 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: No the company has not taken any step to raise further funds however it expects to do so in the current quarter which it believes will be successful. 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: Yes, based on a successful capital raise. Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 4 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: 31 January 2025 Authorised by: By the Board Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively. ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 5