Ann: Colosseum Gold Mine Acquisition, page-2

Long time between drinks.
" Dateline Resources Limited (ASX: DTR) (Dateline or the Company) is pleased to 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 the Colosseum Gold Mine in San
Bernardino County, California USA (Colosseum).
Highlights
• Colosseum produced approximately 344,000 ounces of gold between 1988 and 1993 from a
BP Minerals calculated mining reserve of 700,000 ounces.1
• Mining reserve calculations by BP Minerals used a 1.0g/t gold cutoff grade and estimated a
2.5g/t gold head grade.1
• Mineralisation is primarily hosted in breccia pipes and is reported to be open at depth.
• Acquisition terms include replacement of approximately US$757,000 in reclamation bonds
and a US$1,500,000 payment following the successful completion of a bankable feasibility
study or commencement of site development for the extraction of ore.
Managing Director, Stephen Baghdadi, commented: “The Company has taken significant steps to
build shareholder value in North America. Negotiations with a financial institution to obtain a
US$6.8m credit facility are at closing stage and when completed will enable the Company to
advance the development of the Gold Links Project in Colorado. The acquisition of the Colosseum
offers the Company a significant opportunity to develop a substantial additional resource base”.
Project Location
The Colosseum is located in the southern section of the Walker Lane Trend in East San
Bernardino County, California USA, 15km from the Nevada border and 75km south west of Las
Vegas, Nevada.
The Walker Lane Trend hosts numerous substantial discoveries including the Corvus Gold owned
1.7 million ounce Mother Lode deposit and the 6.5 million ounce Castle Mountain gold mine
owned by Equinox Gold (located 50km to the South East of Colosseum). America’s only rare
earths mine, the MP Materials owned Mountain Pass Mine is located 10km from the Colosseum.