Star Metro - Colosseum Rare Earths Project Bolstered by Potential Larger Gold Deposit

Groundbreaking Exploration Discoveries

Recent exploration efforts have focused on felsite (rhyolite) outcrops located 200-900 meters west and southwest of the Colosseum open pits, mined in the late 1980s and early 1990s. These findings provide tangible evidence of a broader intrusion-related mineral system that could host significant REE deposits and additional gold zones beyond the historically worked areas.

Key Exploration Highlights:

• Strategic REE Potential: Located less than 10 km from the Mountain Pass Rare Earth mine, Colosseum's mantle-derived rocks and carbonatite associations suggest a promising REE initiative. The presence of pathfinder elements and geological similarities to nearby REE deposits indicate potential for millions of tons of critical minerals like neodymium and dysprosium, essential for clean energy, electronics, and defense technologies.

• Expanded Mineralized Footprint: Geochemical anomalies in felsite samples, including elevated levels of antimony (Sb), bismuth (Bi), tellurium (Te), arsenic (As), and traces of silver (Ag), indicate a distal halo typical of intrusion-related gold systems (IRGS), where gold and potentially REEs are concentrated in central zones at depth or along strike.

• New Felsite Outcrops: Newly identified felsite dykes align with the structural trends of the known breccia pipes, following an orthogonal fracture system and ring-dyke pattern associated with an underlying intrusive body. These dykes, observed in a semi-circular pattern around the pits, are satellites to the main felsite intrusion, potentially feeding additional REE- and gold-bearing structures.

• Untapped Potential: Historical exploration was limited to 641 drill holes targeting two breccia pipes within or near the pits, leaving vast areas of the claims untested. No comprehensive property-wide geochemical survey was previously conducted, highlighting significant opportunities for new REE and gold discoveries.

• Exploration Targets: Priority zones include breccia pipe extensions and felsite-hosted mineralization along the established structural trends, with a maiden drill program planned to test for both REE and gold potential.

Current Resource and Geological Model

The Colosseum Project is strategically positioned to capitalize on its REE potential, complemented by a robust gold resource. The gold component hosts a JORC-2012 compliant Mineral Resource estimate, announced on June 6, 2024, totaling 27.1 million tonnes at 1.26 grams per tonne (g/t) gold, equating to 1.1 million ounces, categorized as:

• Measured: 455,000 ounces at 1.47 g/t (41%, highest confidence).

• Indicated: 281,000 ounces at 1.21 g/t (26%, moderate confidence).

• Inferred: 364,000 ounces at 1.10 g/t (33%, preliminary estimate).

Geological mapping confirms that the newly discovered felsite dykes align with the deposit's structural framework, characterized by a pronounced orthogonal fracture system and a ring-dyke pattern tied to an underlying intrusive body. Surface mapping prior to open-pit mining illustrates a semi-circular pattern of felsite (rhyolite) breccia outcrops surrounding the Colosseum pits, consistent with the historic geological model (Source: Geology Notes, 1983). The felsite outcrops, located 200-900 meters west and southwest of the north and south pits, align with the modeled subsurface felsite body, indicating potential extensions of breccia pipes hosting both REEs and gold (see Figures 1-3 in the original exploration report).

Geochemical and Alteration Insights

Detailed geochemical analysis of the felsite samples provides critical insights into the mineralizing system, supporting both REE and gold potential:

• Magma Evolution: The felsite is indicative of a highly fractionated, moderately oxidized granitic melt. Abundant zircon (zirconium-rich minerals) and early magnetite crystallization suggest extensive fractional crystallization, concentrating incompatible elements like bismuth (Bi) and tellurium (Te), typical of IRGS deposits and often associated with REE-enriched systems.

• Alteration Patterns: Intense potassic alteration (secondary K-feldspar and biotite) and phyllic alteration (sericite-quartz-pyrite overprint) confirm significant hydrothermal fluid activity, a key driver of both REE and gold deposition. A ~2-meter-wide felsite dyke oriented southwest exhibits alteration patterns consistent with the mineralized breccia pipes (see Figure 4 in the original exploration report).

• Pathfinder Elements: Elevated levels of Bi, Te, Sb, As, and traces of Ag, often associated with bismuth-telluride minerals in gold deposits, also align with REE-bearing systems. These elements form a distal geochemical halo, suggesting that the surface exposures lie peripheral to a mineral-rich core potentially containing both REEs and gold.

The geochemical and alteration profile matches the outer zone of an intrusion-related mineral system, adding credence to the possibility of a large, zoned system at Colosseum with significant REE and gold potential.

Mineral Potential and Quantities

Confirmed Minerals (June 6, 2024 Resource Estimate):

• Gold (Au): 1.1 million ounces from 27.1 million tons at 1.26 g/t.

  • Measured: 455,000 oz at 1.47 g/t.

  • Indicated: 281,000 oz at 1.21 g/t.

  • Inferred: 364,000 oz at 1.10 g/t.

• Pathfinder Elements: Trace amounts of antimony (Sb), bismuth (Bi), tellurium (Te), arsenic (As), and silver (Ag) in felsite samples, indicating a fertile mineral system.

Additional Minerals:

• REEs: Proximity to the Mountain Pass mine and the presence of mantle-derived rocks and carbonatite associations suggest potential for millions of tons of REEs, such as neodymium or dysprosium, pending further exploration.

• Gold: Breccia pipe extensions or deeper felsite-hosted zones could add hundreds of thousands of ounces, pending drilling confirmation.

• Pathfinder Elements: Sb, Bi, Te, As, and Ag may be economically viable as byproducts in IRGS deposits if gold and REE grades are high.

Historical Context and Untapped Opportunities

Historical exploration at Colosseum was narrowly focused, with all 641 drill holes targeting the two main breccia pipes within or near the open pits for gold. No drilling or comprehensive geochemical surveys were conducted outside these areas, and REE potential was not systematically explored. The recent discovery of pathfinder anomalies in felsite outcrops, enriched in Bi, Te, Sb, and As, represents evidence of mineralization beyond the mined zones, highlighting the potential for significant new REE and gold discoveries.

Strategic Exploration Roadmap

Dateline is advancing a robust exploration program to capitalize on the REE and gold potential:

• REE Investigation: Quantifying REE potential in mantle-derived rocks and carbonatites, leveraging proximity to the Mountain Pass Rare Earth mine.

• Expanded Geochemical Sampling: Extending surface sampling along the projected trend of the felsite dykes to delineate the mineralized corridor for both REEs and gold.

• Maiden Drill Program: Targeting breccia pipe extensions at depth beneath the newly identified felsite outcrops and adjacent structural zones mirroring the ring-dyke pattern to test for REE and gold deposits.

• Geophysical Surveys: Evaluating geophysical technology to refine drill targets and further map subsurface extensions of the felsite intrusion for REE and gold potential.

Managing Director Stephen Baghdadi stated, "The Colosseum Project is poised for transformative growth. These findings confirm a larger mineral system, with the potential to significantly expand our 1.1-million-ounce gold resource and establish Colosseum as a key REE player. We are committed to aggressively moving the project forward and delivering exceptional value to our stakeholders."

Economic Outlook

On May 23, 2025, Dateline announced updated economics for the Colosseum Gold Project, generating an NPV6.5 of US$550 million and an IRR of 61% using a gold price of US$2,900/oz. The emerging REE potential and expanded mineralized footprint further enhance the project's economic viability, positioning it as a strategic asset for critical minerals and precious metals.

About Dateline Resources Limited

Dateline Resources Limited (ASX: DTR) is an Australian publicly listed company focused on high-value mining and exploration in North America. The Colosseum REE and Gold Project, located in California's Walker Lane Trend, is a flagship asset with emerging REE potential and proven gold resources.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of applicable securities laws. These statements relate to future events or future performance and include, but are not limited to, statements regarding the potential of the Colosseum Project, the expected benefits of the OTCQB listing, the company's plans for future development, and the strategic importance of the project for U.S. critical minerals supply. Forward-looking statements are based on the company's current expectations, estimates, and projections, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. These risks and uncertainties include, but are not limited to: fluctuations in the prices of gold and rare earth elements; changes in regulatory requirements or permitting processes; geological or technical challenges in exploration and development; market conditions affecting the company's ability to raise capital; environmental or social factors impacting operations; risks associated with the OTCQB listing process or trading on a new market; environmental and permitting risks associated with operating in a national preserve; uncertainty regarding the delineation of a mineable rare earth elements resource; risks related to the company's ability to secure necessary funding for project development; and potential changes in government policies or priorities affecting the critical minerals sector. The company cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company does not undertake any obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Competent Person Statement

The exploration data has been reviewed by Mr. Greg Hall, a Chartered Professional of the Australasian Institute of Mining and Metallurgy (CP-IMM) and Non-Executive Director of Dateline. Mr. Hall, with extensive experience in IRGS-style mineralization, qualifies as a Competent Person under the JORC Code and consents to the inclusion of this information.

Contact Information

For further details, please contact:

• Stephen Baghdadi, Managing Director, +61 2 9375 2353, www.datelineresources.com.au

• Andrew Rowell, White Noise Communications, +61 400 466 226, [email protected]

Follow Dateline on X: @Dateline_DTR

This announcement is authorized for release by the Dateline Resources Limited Board of Directors.

SOURCE: Dateline Resources Limited

View the original press release on ACCESS Newswire

L.Girard--SMC