Neither player has made a first team appearance and both have been told their futures lie elsewhere.
Warnock told the Croydon Guardian: "We won't be offering James Dayton or Jamie Smith deals.
"We are trying to fix them up with clubs now.
"I think it's pointless taking the lads on for the sake of it so we just had a chat with them and it's better for them to go get some first-team football."