Star Metro - Dateline Initiates Accelerated Drilling Program at Colosseum Gold-REE Project

Highlights

• Drilling Underway - Drilling has commenced this week at the 100%-owned Colosseum Gold-REE Project in California.

• Expanded Drill Fleet - Major Drilling has been contracted to provide a high-powered, fast reverse circulation (RC) rig, supplementing Dateline's fleet of three company-owned drill rigs (two currently on site) and significantly boosting drilling speed and capacity.

• Large-Scale Campaign - The total drilling program is expected to exceed 10,000 metres of combined RC and diamond drilling, with activities anticipated to continue through the remainder of 2025.

• New Gold & REE Targets -Recently identified magneto-telluric (MT) generated gold and rare earth element targets are being refined and will be progressively incorporated into the drilling plan. These include multiple high-priority gold targets (breccia pipe anomalies) and deep REE targets identified by geophysical surveys.

• Geotechnical Program - A dedicated geotechnical drilling program is underway in parallel, gathering critical data to inform mine planning and support BFS-level engineering studies.

• Accelerating BFS - The program will accelerate the Colosseum BFS, with drilling data to support mine design and resource upgrades aimed at expediting the timeline to first gold production.

Drilling started this week and will include extensional gold drilling around the existing 1.1 Moz gold resource, as well as testing new regional targets. This campaign represents a pivotal step in advancing the Bankable Feasibility Study (BFS) and is aimed at accelerating Colosseum's development toward near-term gold production.

To maximise efficiency and drilling throughput, Dateline is augmenting its on-site drill fleet. While the Company currently has two owned drill rigs at Colosseum, it has opted to deploy one of its own diamond drill rigs and supplement it with a high-performance reverse circulation (RC) rig provided by Major Drilling, the world's leading provider of specialized drilling services in the metals and mining industry.

The contracted RC rig is being mobilised to site in the next 1-2 weeks and offers faster drilling rates, allowing the Company to rapidly progress both mineral resource-definition drilling and exploration of new targets in tandem. In addition to mineral resource drilling, a geotechnical drilling program has commenced, which will collect essential data on rock stability and ground conditions to feed into mine design and planning for the BFS.

The drilling plan will also progressively test several new exploration targets for gold and rare earths. These targets have been generated from recent exploration datasets, including a 3D magneto-telluric (MT) geophysical survey and detailed geochemical and mapping programs. Notably, the Company has identified six high-priority gold target areas (interpreted as potential breccia pipe structures) exhibiting similar geophysical signatures to the known gold-bearing pipes at Colosseum.

Additionally, multiple deep-seated resistivity anomalies pointing to possible carbonatite-hosted REE mineralisation (analogous to the nearby Mountain Pass mine) have been delineated. Ongoing analysis of the MT and geochemical results is refining these targets, which will be added to the drill schedule as they are confirmed and ranked. By pursuing gold and REE exploration in parallel, Dateline aims to unlock Colosseum's dual commodity potential efficiently and enhance the project's overall economics.

The total drilling program is expected to exceed 10,000 metres of RC and diamond drilling. This extensive campaign, one of the largest undertaken at Colosseum, is scheduled to run through at least the end of 2025. Drilling results will be reported as they become available and will feed directly into the Colosseum BFS workstreams, including a potential updated Mineral Resource estimate and open-pit mine designs.

Dateline's Managing Director, Stephen Baghdadi, commented:

"This is an exciting phase for Dateline as we kick off a major drill program at Colosseum, which is instrumental in accelerating our feasibility study and bringing us closer to production. By utilizing our in-house diamond rig alongside Major Drilling's high-powered RC rig, we can significantly increase the pace and scope of drilling, allowing us to tackle mineral resource infill, extensional drilling, and new target testing all at once.

"The ability to drill more metres faster will fast-track the Colosseum BFS and shorten the timeline to first gold production. We're also eager to drill the newly identified gold and rare earth targets, which have the potential to add substantial value."

Figure 1: Plan view of Colosseum with areas to initially be targeted in the drilling program

Figure 2: Diamond drilling underway at Colosseum

About Dateline Resources Limited

Dateline Resources Limited (ASX:DTR)(OTCQB:DTREF) is an Australian publicly listed company focused on high-value mining and exploration in North America. Its flagship Colosseum Gold-REE Project in California's Walker Lane Trend combines a proven gold resource with emerging rare earth potential, positioning Dateline as a leader in critical minerals and precious metals.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of applicable securities laws. These statements relate to future events or performance, including the potential of the Colosseum Project, the benefits of U.S. government support, 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 current expectations, estimates, and projections and are subject to risks and uncertainties that could cause actual results to differ materially. These risks include fluctuations in gold and rare earth element prices, changes in regulatory or permitting processes, geological or technical challenges, market conditions affecting capital raising, environmental or social factors, and risks related to securing government funding. Dateline Resources cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The company undertakes no obligation to update or revise these statements, except as required by law.

Contact Information

Stephen Baghdadi
Managing Director
Dateline Resources Limited
+61 2 9375 2353
[email protected]
www.datelineresources.com.au

Andrew Rowell
Corporate & Investor Relations Manager
[email protected]
+61 400 466 226

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

SOURCE: Dateline Resources Limited

View the original press release on ACCESS Newswire

A.Jackson--SMC