Dateline Resources : REE advisors appointed to Colosseum project

ASX Release

14 April 2022

Colosseum Rare Earths Genetically Linked to

DATELINE RESOURCES LIMITED

Mountain Pass REE Mine, Expert Advisors Appointed Highlights

(ACN 149 105 653)

• • Rare Earth Element (REE) and Carbonatite experts, Dr Anthony N. Mariano, PhD. and Mr Anthony Mariano Jr have now been appointed as Senior Advisors to the Company.

• • The two experts have been associated with the Mountain Pass REE mine for over 50 years

  CAPITAL STRUCTURE

• • Since September of 2021, Messrs Mariano have confirmed:

  Share Price (13/04/22) $0.12 Shares on issue 438 million Market Cap $52.0 million

  • ▪ The USGS radio metric signature at the Colosseum mine is 3-5 times background reading

    MAJOR SHAREHOLDERS

  • ▪ Outcrops at the Colosseum mine are genetically related to the geological events that created the Mountain Pass REE mine

  Southern Cross Exploration NL 21.8%

  Mr. Mark Johnson AO 19.8%

• • A follow up program of detailed structural mapping, sampling, and petrography will be completed in Q2 2022

National Nominees Ltd 11.9%

Stephen Baghdadi 5.9%

Dateline Resources Limited (ASX: DTR) (Dateline or the Company) is pleased to announce the appointment of REE and Carbonatite experts, Dr Anthony N. Mariano, PhD. and Mr Anthony Mariano Jr to advise on REE exploration of the Colosseum mine area.

DIRECTORS & MANAGEMENT

Mark Johnson AO Chairman

The Mountain Pass REE mine is located ~10km south-east of the Colosseum mine. The Mountain Pass REE mine is the only operating REE mine in the USA. Messrs Mariano have been mapping, sampling and advising on REEs in the Mountain Pass - Colosseum area for over 50 years.

Stephen Baghdadi Managing Director

Commenting on the REE potential of the Colosseum Mine Dr. Mariano, PhD, said,

Greg Hall Non-Executive Director

Tony Ferguson Non-Executive Director

"Realizing the close relationship between mineralized carbonatite bodies at the Mountain Pass mine and their genetically related alkaline rocks, the need for further exploration in the Mountain Pass-Colosseum corridor is obvious and cannot be over emphasized and we look forward to working with Dateline on the Colosseum project."

Bill Lannen Non-Executive Director

Mark Ohlsson Company Secretary

CONTACT

Mark Ohlsson

Phone: [phone]

Postal Address: P.O. Box 553 South Hurstville NSW 2221

Email:[e-mail]

Figure 1. Looking north showing ~10km between Colosseum and Mountain Pass

About Messrs Mariano

Anthony N. Mariano, PhD, and Anthony Mariano (Jr.) are mineral exploration geologists. They work as a team and specialize in the geology and mineralogy of rare elements on a world level. They have worked extensively in the field and in the laboratory for more than 50 years and in more than 50 countries. Their emphasis is on geology and mineralogy in the evaluation of economic mineral deposit potential and ranking of specialties metals and rare earth element (REE) deposits. They work in close collaboration with mineral processing specialists to help refine ore processing.

They have field experience in multiple countries in North and South America, Africa, and Asia. In addition to their expertise in REEs, niobium and tantalum, their commodity experience includes gold, platinum, iron, copper, tin, tungsten, and phosphates in over 75-targeted mineral deposits. Expertise in laboratory analytical techniques used for mineral deposit evaluation includes petrography, cathodoluminescence microscopy, scanning electron microscopy/energy dispersive x-ray analysis, x-ray diffraction, electron microprobe analysis, and bench scale mineral processing techniques.

They have extensive experience with the Mountain Pass mine in south-eastern California, located ~10km to the south of the Colosseum mine, one of the few producing REE deposits outside of China. Anthony Sr. was the chief consulting geologist at Mountain Pass for over a decade during the time when Mountain Pass was the chief producer of REEs to the world market.

In more recent years, they have continued to consult to the current owners of the Mountain Pass REE mine (MP Materials) drawing on their extensive knowledge of the surrounding geology and ore mineralogy.

Mountain Pass REE mine is the only operating REE mine in the USA and MP Materials major asset. MP Materials is listed on the NYSE and has a market capitalisation of over US$9 billion.

Radiometric anomalies

In July 2021, Dateline announced a review of USGS geophysics data indicated anomalous radiometric anomalies trend towards Colosseum from the Mountain Pass Rare Earth Mine located south of Colosseum gold mine. The survey shows a marked increase in radioactivity relative to normal crustal rocks. The trends are oriented approximately N15°W and persist directionally toward the Mountain Pass REE mine approximately 10km to the southeast (Figure 2).

Figure 2. Airborne Radiometric Thorium anomaly trends from USGS geophysical data. Note the directional relationship between the

Colosseum gold mine and the Mountain Pass REE mine.

The Company retained Messrs Mariano to undertake a brief field program to measure radiometric readings and collect samples for analyses. A brief field investigation was conducted in September 2021 to measure ground radiometric readings and observe the rock units associated with the trends within the Colosseum claims. Some limited geochemical sampling was also conducted.

The ground radiometric measurements taken in the field confirmed the USGS airborne data of the southern ridge as being the source of the airborne radiometric anomaly. Along the ridgetop that extended to the south from the mine pit, readings were 70-100 µR/h, well above the background readings of 18-20 µR/h, confirming the anomaly demonstrated in the airborne data.

Samples

Eight samples were collected in the field during two site visits (Figure 3). Two samples (COR-1 and COR-2) were collected from the mine breccia ore rock to investigate the potential presence of the REE mineral monazite. Monazite was previously reported by USGS geologists in the mine rock from the breccia pipes. The breccia samples include one boulder located on the south rim of the mine pit and one boulder from the waste rock (tailings) area. Two samples (COR-3 and COR-4) were collected from along a ridge line which showed the radiometric high (Figure 2). Figures 3 shows COR sample areas. Radio metric readings for samples COR-1 to 4 are shown in figures 5-8. Results for samples COR-5 to COR-8, collected on the new eastern zone, are pending final review and analysis.

Figure 3 Sample locations

Observations and Preliminary Results

When examining geophysical data for the Colosseum mine area, as collected and interpreted by the United States Geological Survey (USGS), it was observed that linear trends of radiometric highs within the Colosseum claims were oriented in an NNW/SSE direction, demonstrating a possible relationship with radiometric data surrounding the Mountain Pass rare earth element (REE) deposit to the southeast. The particular orientation of these trends were directionally consistent with the same linear trends immediately surrounding the Mountain Pass mine area, further suggesting a possible relationship.

While evaluating the data and observations from the September 2021 field excursion, it was noted that a reference was made in the historical literature to the presence of a small outcrop of fenite rock located within the Colosseum claim area, approximately 800m east of the main mine pit.

Fenite is a rock type produced through fenitisation. Fenitisation is a process of alkali metasomatism whereby late residual solutions enriched in alkali elements emanating from an alkali igneous rock complex replace pre-existing rocks. The process of fenitisation is not confined to country rock, but almost invariably has invaded the earlier crystallized igneous rocks in carbonatite complexes.

A rock thin section of this historical sample was obtained and examined. Through the application of cathodoluminescence, it was confirmed that this sample was exposed to fenitising fluids. Fenites are derived from Alkali Carbonatite intrusions. Fenite outcrops have been found in several areas surrounding the Mountain Pass REE mine deposit.

The fenites identified at the Colosseum mine are similar to the fenites found at the Mountain Pass REE mine. The fenites found at the Mountain Pass REE mine are related to the carbonatite intrusion bearing the Mountain Pass REE mineralization.

Because of the spatial proximity of this fenite occurrence to the Mountain Pass intrusion and the fact that fenites only occur in association with alkaline and carbonatite systems, it can be strongly inferred that the fenite found on the Colosseum claims is genetically related to the geological events that created the Mountain Pass REE mine.

Another brief field investigation was conducted during the week of February 21, 2022, to follow-up on this reported fenite occurrence. Consistent with the reported observation, a fenite outcrop was located within the Colosseum claims east of the pit. The outcrop was observed to be larger than historically described, with the fenite showing linear exposure of approximately 75 metres.

Further field reconnaissance was conducted during February 2021, with additional rock samples of interest collected for analysis. These samples were chosen based on several field analytical parameters including field rock-type classification, ground radiometric readings, and field based semi-quantitative geochemical analyses (Niton instrumentation).

A small vein of rock was observed in the far northeast portion of the Colosseum claim area that showed field indications of fenite. Follow-up lab analytical studies are now being conducted to investigate this further.

Samples were examined visually in the laboratory as well as through the use of cathodoluminescence (CL). CL aids in the identification of specific minerals through their luminescent properties. It can also provide information as to the potential mode of origin of certain minerals and their association with crustal or mantle derived rocks.

Commenting on the results, Dateline's Exploration Director, Greg Hall, said:

"A report of fenitization of a quartz syenite near Colosseum is encouraging, as syenite is part of the family of rocks that includes carbonatite, and fenitization is an alteration product associated with carbonatite.

"We are now seeing evidence of rare earth potential across a larger part of the Colosseum claims, not just in the southern area as previously thought.

"While the primary aim at Colosseum has historically targeted gold, the rare earth potential deserves to be fully investigated."

Summary and Next Steps

The study by Messrs' Mariano confirm that there exists the potential for REE's near the Colosseum mine and that the geology is linked to that found at the Mountain Pass REE Mine, located ~10km to the southeast.

Further surface geological mapping, rock sampling and petrographic analyses will be completed in Q2, 2022, with a structural geologist contracted to provide detailed structural mapping of the Colosseum claims.

In order to ensure the REE program is executed to the highest level, the Company has retained Messrs Mariano as Senior REE Expert Advisors to the exploration program.

Figure 4. Anthony Mariano Jr Mapping and sampling of the fenitized outcrop to the east of the open pit mine