Dart Mining Nl · ASX:DTM

Dart Mining Nl — Shareholder Meeting (October 2012)

27 slides from Dart Mining Nl's shareholder meeting presentation, Oct 2, 2012

1. Slide 1: Chairman's Address - AGM 2 October 2012

   For personal use only DART MINING – Chairman’s Address - AGM 2 October 2012 I am very proud of the Dart team for the outstanding work in taking the Unicorn project from a discovery by Dart through to a JORC Measured Indicated and Inferred Resource during a period of extreme market volatility through

2. Slide 2: Chairman's Address (continued)

   For personal use only Across Australia, regulatory and permitting risk is increasing the time and cost it now takes to get to the development starting line. We often hear that a delay in developing a project is not a problem because the resource remains in the ground for future generations. That may

3. Slide 3: Potential for a world class Mo + Cu + Ag mine in a new Australian mineral province

   For personal use only Potential for a world class Mo + Cu + Ag mine in a new Australian mineral province Lindsay Ward ASX : DTM Managing Director Oct 2012 1

4. Slide 4: Disclaimer

   For personal use only DISCLAIMER The information contained in this document is disclosed to you by Dart Mining NL (ACN 119 904 880) (the "Company"). Nothing in this document shall form the basis of any contract or commitment, or constitutes investment, financial product, legal, tax or other advice.

5. Slide 5: Dart Mining (DTM) - Year in Review

   For personal use only DART MINING (DTM) – YEAR IN REVIEW • Nil safety incidents – Safety Management System rewritten • Two drilling programs completed – ~1500m’s diamond / ~4000m’s RC • Maiden JORC resource announced – 102Mt JORC Indicated and Inferred • Initial metallurgy confirms high recoveries –

6. Slide 6: DTM Investment Highlights

   For personal use only DTM INVESTMENT HIGHLIGHTS • Unicorn deposit – potentially a world class Mo + Cu + Ag porphyry mine • Similarities to Climax / Henderson – multiple high grade stacked horizons • Positive outlook for Molybdenum (Mo) – price is predicted to recover • 102Mt Measured / 203Mt total R

7. Slide 7: DTM Corporate Structure

   DTM CORPORATE STRUCTURE ASX Code: DTM Options: For personal use only Shares on issue: ~182.94m • 8.35m unlisted 15 cent options Market cap: ~$18.m (expiry 31 Dec 2013) • 100,000 unlisted 18 cent Directors: 11.6m shares (~7%) options (expiry 20 March 2017) Top 20: 35% • 100,000 unlisted 22 cent Cash:

8. Slide 8: Hands on and Cohesive Board

   HANDS ON AND COHESIVE BOARD Lindsay Ward – Managing Director For personal use only Experienced senior executive having worked at CEO & GM level across the mining, power generation, mineral processing, ports, rail and logistic industries Chris Bain – Chairman Well regarded corporate advisor, who has

9. Slide 9: Project Location Advantage

   For personal use only PROJECT LOCATION ADVANTAGE ALBURY N.S.W VICTORIA CORRYONG 7

10. Slide 10: New Australian Mineral Province

    NEW AUSTRALIAN MINERAL PROVINCE For personal use only • Gilmore splays are known host of major ore bodies  Cadia / Ridgeway / Nth Parkes in NSW  Benambra in Victoria • Gilmore suture flexes across into Victoria with a series of splay faults • DTM has 2,000km2 of tenements across this strategic str

11. Slide 11: Unicorn and Henderson Are Similar

    For personal use only UNICORN and HENDERSON ARE SIMILAR DRILL RIG Unicorn Mineral Resource (Left) showing the 5,978,100mN cross section showing Measured, Indicated and Inferred Mineral Resource and the M3 Grade Zone to 400 RL 9 (450m below surface). The conceptual Henderson style Target associated w

12. Slide 12: Unicorn Resource Summary

    UNICORN RESOURCE SUMMARY INSITU METAL For personal use only MoEq1 JORC TONNAGE Mo Eq1 Mo Cu Ag Mo Cu Ag Cutoff CLASSIFICATION (Mt) (%) (%) (%) (%) (g/t) (t) (t) (Moz) MEASURED 102 0.04 0.07 0.04 0.06 3.58 37,561 61,305 11.8 INDICATED 35 0.04 0.06 0.04 0.04 2.75 12,792 14,629 3.1 INFERRED 66 0.04 0.0

13. Slide 13: High Grade from Surface

    HIGH GRADE FROM SURFACE • High grade from surface 54Mt For personal use only Measured Resource at 0.08% MoEq1 contained within  102Mt Measured Resource at 0.07% MoEq1 • 203Mt JORC Measured + Indicated + Inferred Resource at 0.06% MoEq1 • Could support long mine life in excess of 20 years • Indicate

14. Slide 14: Significant Insitu Metal Content

    SIGNIFICANT INSITU METAL CONTENT Contained Insitu Metal For personal use only • Measured  Mo – 37.6 Kt  Cu – 61.3 Kt  Ag – 11.8 Moz • Measured and Indicated  Mo – 50.4 Kt  Cu – 75.9 Kt  Ag – 14.9 Moz • Total Resource  Mo – 72.2 Kt  Cu – 97.8 Kt  Ag – 19.4 Moz 12

15. Slide 15: Case Study - Endako Mine

    CASE STUDY – ENDAKO MINE Unicorn Project Endako Mine BC For personal use only • Multi metal – Mo + Cu + Ag • Single metal only – Mo • High recoveries • Low recovery  Mo 92% + Cu 96% + Ag 83%  Mo 74% • Two saleable concentrates • Single concentrate  51% Mo plus a 23% Cu/Ag  51% Mo • Strip Ratio l

16. Slide 16: Target Onsite Mine + Mill Cost / Ore Tonne

    For personal use only TARGET ONSITE MINE + MILL COST / ORE TONNE 25 US$/t ore El Teniente Henderson Los Bronces Chuquicamata Dart Mining Target Los Pelambres Andina 20 Collahuasi Cash Cost US$ Thompson Creek Bingham Canyon per Tonne Mined (~A$/US 1.05) Antamina Toquepala Bagdad 15 Continental Highla

17. Slide 17: Target Cash Cost After Credits

    use only TARGET CASH COST AFTER CREDITS 12 Dart Mining Target Endako Thompson Creek Questa 10 Cash Cost US$ / lb1 Bagdad (~A$/US 1.05) Henderson Chuquicamata Highland Valley Costs US$/lbMo Los Bronces 8 Los Pelambres Continental For personal Cerro Verde Collahuasi Sierrita El Teniente Bingham Canyon

18. Slide 18: About Molybdenum

    For personal use only ABOUT MOLYBDENUM Source: 2012 CRU report and Thomson Creek 2012 AGM presentation Source: 2012 CRU report and Thomson Creek 2012 AGM presentation 1600 260 Comparison of Global Crude Steel 1500 Production and World Mine Production Of Mo (kt) 240 Crude Steel Production (Mt) 1400 G

19. Slide 19: Molybdenum Market Forecasts

    For personal use only MOLYBDENUM MARKET FORECASTS 17

20. Slide 20: Community Alignment Advantage

    For personal use only COMMUNITY ALIGNMENT ADVANTAGE Victorian Government supports Unicorn via three drilling grants totalling $240,000 18

21. Slide 21: Strip Ratio Advantage

    For personal use only STRIP RATIO ADVANTAGE DRILL RIG 19

22. Slide 22: Infrastructure Advantage

    For personal use only INFRASTRUCTURE ADVANTAGE What Project Value Should Investors in Dart Mining Place on Existing Infrastructure? 20

23. Slide 23: Conceptual Mining Method Advantage

    For personal use only CONCEPTUAL MINING METHOD ADVANTAGE * The section is conceptual only. There has been insufficient exploration drilling, financial modelling & mine planning to accurately define the pit shape and it is uncertain if further drilling will enable this to occur.

24. Slide 24: News Flow and Key Events

    For personal use only NEWS FLOW and KEY EVENTS 22

25. Slide 25: DTM - Key Takeaways

    For personal use only DTM – KEY TAKEAWAYS • Unicorn lowest quartile cost target – cash cost per lb & ore mined • Scoping study October – 137Mt Measured + Indicated Resource • 20+ year mine life could be supported – high grade from surface • Very low strip ratio – potential to have a nil waste initia

26. Slide 26: Thank You and Questions

    For personal use only THANK YOU AND QUESTIONS MOLYBDENUM A SOFT, GREY NON TOXIC MINERAL WITH PROPERTIES UNLIKE ANY DRILL RIG OTHER ELEMENT 24

27. Slide 27: Competent Person Statement

    For personal use only Competent Person Statement Information in this report that relates to a statement of Exploration Results and Mineral Resources of the Company is based on information compiled by Dean Turnbull B.App.Sc.(Geol) Hons. M. AIG. Mr Turnbull is a Director and full time employee of Dart

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