Since traders move around (when we're not looking), it makes sense that they would know the area. I would pay some gears to find out where something is, even if it's pretty vague.
"Bauxite, you say? Those orange rocks? I think I saw some quite a ways away to the north."
"Lookin' for a treasure hunter, eh? Old Jeff's wagon can generally be found a moderate distance to the southwest."
I've found 15 traders (keeping my bronze pickaxe with me) and I'm about to give up on ever trying the dungeon. There needs to be some way to counteract players with terrible luck.