Announcement PDF Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au ASX ANNOUNCEMENT 3 March 2025 Stinger Niobium Exploration Target – Mangaroon 100% HIGHLIGHTS (All amounts in A$ unless otherwise stated) • Dreadnought has undertaken an internal study that has highlighted significant economic potential at the Stinger niobium target (“Stinger”). As a result, a JORC 2012 Exploration Target (“Exploration Target”) has been estimated for Stinger, part of the Gifford Creek Carbonatite complex that also includes the Yin REE Ironstones and the C3 REE-Nb Resources (ASX 30 Nov 2023, 28 Aug 2023). • Stinger has delivered the thickest and highest-grade niobium intercepts in the region with mineralogy results confirming the commercially viable pyrochlore as the dominate niobium bearing mineral. • An Exploration Target has been estimated for Stinger over an area of ~1,700m x 500m and to a depth of ~180m based on drilling results to date: Table 1: Estimated Stinger Niobium Exploration Target Tonnage Range (Mt) 15 - 60Mt Grade Range (% Nb2O5) 0.5% – 1.0% Contained Nb2O5 Range (t) 150,000 – 300,000t *Note that the potential quality and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Resource, and it is uncertain if further exploration will result in the estimation of a Resource. The Exploration Target has been prepared in accordance with JORC 2012. • The Exploration Target is based on wide spaced drilling and excludes: • Fresh rock depth extensions to Stinger including drill holes ending in mineralisation; • Mineralised extensions to Stinger and discoveries within the region; and • Other associated critical minerals including titanium, scandium, rare earths and phosphorus. • An internal study on the smaller, higher grade portion of the Exploration Target, with an open pit down to ~180m and a standard 1mtpa concentrator supports the significant potential of the niobium and justifies further work including infill drilling and metallurgical test work. A partner, preferably already in the steel industry (iron ore, coal, steel), will be sought to advance to this next step. Dreadnought Resources Ltd (“Dreadnought”) is pleased to announce an Exploration Target for Stinger, part of the 100% owned Mangaroon Critical Metals Project (“Mangaroon”), in the Gascoyne region of WA. Dreadnought’s Managing Director, Dean Tuck, commented: “The Gifford Creek Carbonatite Complex is one of the largest carbonatite complexes globally and already contains multiple critical minerals including niobium, rare earths, titanium, scandium and phosphorus. Stinger has produced some of the thickest and highest-grade niobium intercepts to date and our internal study justifies the next stage of work in conjunction with an industry partner. Importantly, the Exploration Target compares well to the deposits at global operating mines. Dreadnought is now funded to deliver its self-funded explorer strategy by bringing the high-grade Star of Mangaroon gold mine into production. Accordingly, discussions with potential partners will be undertaken in the background. We remain on track to commence our gold focused exploration drilling in late March 2025.” Figure 1: Dreadnought’s Claudia Tomkins logging mineralised carbonatite at Stinger. ASX:DRE Dreadnought Resources Ltd 1 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Exploration Target – Stinger Niobium The Exploration Target for Stinger is estimated to contain potential mineralisation ranging from 15-60Mt @ 0.5-1.0% Nb2O5. The Exploration Target is shown in Table 2 below: Table 2: Estimated Stinger Niobium Exploration Target Tonnage Range (Mt) Grade Range (% Nb2O5) Contained Nb2O5 Range (t) 15 – 60Mt 0.5% – 1.0% 150,000 – 300,000t *Note that the potential quality and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Resource, and it is uncertain if further exploration will result in the estimation of a Resource. The Exploration Target is based on the data that has been collated as of the date of this announcement, which includes: • • • • • 24 RC drill holes for 3,060m; 1,540 drill hole assays; 266 density measurements used in the C3 Resource, which is hosted in similar rocks; drill logging; geophysical data including detailed airborne magnetic, radiometric and Falcon gravity surveys as well as ground gravity; and • wireframing and 3D modelling of the Stinger mineralisation at a 0.1% Nb2O5 and 0.7% Nb2O5 cutoff. The Exploration Target incorporates the wireframed size of the Stinger mineralisation as defined by drilling as well as the potential mineralisation between drilling. The Exploration Target excludes: • • • Fresh rock depth extensions to Stinger including drill holes ending in mineralisation; Mineralised extensions to Stinger and discoveries within the region; and Other associated critical minerals including titanium, scandium, rare earths and phosphorus. Figure 2: Plan view image showing the wireframed outline of Stinger (~1,700m x 500m) at a 0.1% Nb2O5 cut off in relation to drill holes and significant intercepts. ASX:DRE Dreadnought Resources Ltd 2 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Background Thick, high grade niobium mineralisation at Stinger was discovered by Dreadnought and has been defined by drilling over ~1,700m x 500m with significant intercepts to date including: CBRC195: 130m @ 0.7% Nb2O5 from 71m, including: 39m @ 1.3% Nb2O5 from 84m including 4m @ 2.0% Nb2O5 from 86m CBRC200: 95m @ 0.9% Nb2O5 from 48m, including 20m @ 1.4% Nb2O5 from 102m and 8m @ 1.7% Nb2O5 from 72m CBRC194: 122m @ 0.6% Nb2O5 from 71m, including 26m @ 1.1% Nb2O5 from 99m CBRC201: 98m @ 0.7% Nb2O5 from 54m, including 41m @ 1.1% Nb2O5 from 85m CBRC193: 57m @ 0.9% Nb2O5 from 51m, including 10m @ 1.2% Nb2O5 from 72m CBRC196: 24m @ 0.7% Nb2O5 from 81m, including 8m @ 1.3% Nb2O5 from 81m CBRC176: 50m @ 0.9% Nb2O5 from 49m, including 20m @ 1.3% Nb2O5 from 56m CBRC085: 48m @ 0.8% Nb2O5 from 30m, including 36m @ 1.0% Nb2O5 from 39m CBRC111: 48m @ 0.7% Nb2O5 from 63m, including 9m @ 1.4% Nb2O5 from 72m CBRC125: 59m @ 0.6% Nb2O5 from 63m, including 19m @ 1.0% Nb2O5 from 99m CBRC138: 57m @ 0.6% Nb2O5 from 45m, including 3m @ 1.4% Nb2O5 from 90m Mineralisation is predominantly hosted within deeply weathered calcio-magnesio carbonatites of the Gifford Creek Carbonatite. Mineralogical test work to date has determined that the dominate niobium mineral at Stinger is pyrochlore with subordinate ilmenorutile. Pyrochlore niobium is commercially viable and accounts for ~95% of global production. The main mineralisation has been tested with RC drilling and has defined a largely continuous, flat lying sheet of mineralisation ~1,700m in length and up to 500m in width in the deeply weathered sections of the carbonatite with some mineralisation extending down into the fresh rock. Limited drilling has tested down to the fresh rock at 180m and beyond, which has been excluded from this Exploration Target. Figure 3: Cross section image showing the wireframed outline of Stinger (~500m width) at a 0.1% Nb2O5 cut off in relation to drill holes and significant intercepts. Note that several holes end in mineralisation. ASX:DRE Dreadnought Resources Ltd 3 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Estimation Methodology The preparation of the Exploration Target involved the integration of multiple datasets including drilling, geophysics, geological logging and geological interpretation. The footprint of Stinger is defined by broad spaced ~360m x 180m spaced vertical RC holes. Within that footprint, 4 partial lines of angled fence line drilling have been used to help interpret the geometry of mineralisation at depth. The Exploration Target has been defined to a maximum vertical depth of ~180m from surface. The mineralisation remains open at depth into fresh rock and is loosely closed out by broad spaced drilling along strike. Volume estimates were based on the creation of two wireframes. One using a lower grade 0.1% Nb2O5 cut off and the other using a higher grade 0.7% Nb2O5 cut off. Mineralised intersections were defined using a minimum down hole width of 6m with a 0.1% Nb2O5 cut off and a minimum down hole width of 1m with a 0.7% Nb2O5 cut off. A weighted average of the Nb2O5 grade was calculated on 1,018 assay results using the 0.1% Nb2O5 cut off and on 326 assay results using the 0.7% Nb2O5 cut off. Using these parameters, the length weighted grade ranged from 0.53% - 1.07% Nb2O5. These numbers were conservatively rounded down to 0.5% and 1.0% for the Exploration Target grade range. A total of 266 density measurements were used from diamond drilling in the C3 REE-Nb Resource as coded with lithology and weathering. A supergene density of 2.0 t/m3 was used for the Exploration Target due to rock type similarities (ASX 28 Aug 2023). Figure 4: Plan view image showing the wireframed outline of Stinger (1,400m x 300m) at a 0.7% Nb2O5 cut off in relation to drill holes and significant intercepts. ASX:DRE Dreadnought Resources Ltd 4 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Overview of the Gifford Creek Carbonatite Complex The Gifford Creek Carbonatite and the Yin Ironstones together form one of the largest alkali-carbonatite complexes in the world (Figure 5). Carbonatite intrusions are known globally to host several different commodities including rare earths, niobium, phosphate, titanium and scandium, often as separate deposits within the same intrusion. Examples of this include Mt Weld in Australia, Ngualla in Tanzania, Araxa in Brazil and Bayan Obo in China. Since the initial discovery of the Yin Ironstones and the Gifford Creek Carbonatite in 2021, Dreadnought has delivered multiple discoveries and Resources, including: • Yin REE Ironstones: 29.98Mt @ 1.0% TREO (87% M+I Resource) including 11.63Mt @ 1.9% TREO (94% M+I Resource) (ASX 30 Nov 2023) over just ~4.6kms of the 43km long Yin Ironstones. • C3 REE-Nb Inferred Resource of 10.84Mt @ 1.0% TREO and 0.22% Nb2O5 (ASX 28 Aug 2023). Wide spaced drilling over <25% of the ~17km long Gifford Creek Carbonatite has already identified 3 zones of mineralisation containing Nb-REE-Sc-Ti-P. This makes for a critical mineral mix of co-products with significant intercepts including: • CBRC115: 102m @ 1.1% TREO from 3m, including 29m @ 2.1% TREO from 76m • CBRC148: 43m @ 11.9% P2O5 from 87m, including 24m @ 14.5% P2O5 from 105m to EOH • CBRC138: 12m @ 319ppm Sc from 48m and CBRC125: 10m @ 270ppm Sc from 18m • CBRC086: 72m @ 8.6% TiO2 from 12m, including 6m @ 12.8% TiO2 from 66m • CBRC200: 95m @ 0.9% Nb2O5 from 48m, including 20m @ 1.4% Nb2O5 from 102m Figure 5: Location of significant niobium mineralisation intersected at the Gifford Creek Carbonatite. Inset image shows globally significant carbonatite complexes at a similar scale highlighting the footprints of niobium mineralisation. ASX:DRE Dreadnought Resources Ltd 5 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Commercialisation Strategy Dreadnought recently announced a Resource and scoping study for the Star of Mangaroon that includes an initial production target of ~20koz at 10g/t Au delivering robust financials including a maximum cash drawdown of ~$10M at a AISC of $1,800/oz and a post capital and tax operating cashflow of ~$40M at a $4,100/oz gold price increasing to ~$50M at forward gold prices of $4,600/oz (ASX 27 Nov 2024, 28 Jan 2025). Mineralisation at the Star of Mangaroon remains open along strike and depth with significant potential to add ounces. Dreadnought is now funded to deliver its self-funded explorer strategy by bringing the high-grade Star of Mangaroon gold mine into production by delivering the following: • • • Obtaining the remaining mining approvals for the Star of Mangaroon; Adding ounces on the existing mining leases (Star of Mangaroon extensions, Popeye, Pritchard, etc.); and Filling the discovery pipeline with new targets (Bordah, High Range). The self-funded explorer strategy is Dreadnought’s focus. An internal study on an open pit down to ~180m and a standard 1mtpa concentrator supports the significant potential of the niobium and justifies further work including infill drilling and metallurgical test work. Accordingly, a partner, preferably already in the steel industry (iron ore, coal, steel), will be sought to advance to this next step. This potential is further supported by the proximity to existing infrastructure including ports, roads and gas pipeline (Figure 6). Figure 6: Map showing the locations of significant critical metal (REE-Nb) projects in Western Australia in relation to existing infrastructure. ASX:DRE Dreadnought Resources Ltd 6 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Dreadnought’s planned transition to self-funded explorer Mar 2025 Quarter Jun 2025 Quarter Star of Mangaroon Open Pit Scoping Study Mining, Haul, Process Agreement Additional Resource Drilling Granted Mining Leases including: Star of Mangaroon extensions, Popeye, Pritchard’s, Lead and Two Peaks Gold Exploration Target Generation Bordah and High Range Sep 2025 Quarter Dec 2025 Quarter Approvals and Commencement of Production Target Definition Bordah and High Range Exploration Drilling For further information please refer to previous ASX announcements: • • • • • • • • • • • • • • • • • • • • • • 25 November 2020 15 March 2021 17 May 2021 17 October 2022 23 November 2022 28 December 2022 24 January 2023 29 March 2023 3 April 2023 29 May 2023 5 July 2023 10 July 2023 17 July 2023 7 August 2023 28 August 2023 2 October 2023 30 November 2023 6 December 2023 6 June 2024 12 August 2024 19 August 2024 9 October 2024 Mangaroon Ni-Cu-PGE & Au Project Exploration Commences at Mangaroon Ni-Cu-PGE & Au Project Update on Mangaroon Ni-Cu-PGE & Au Project Mineralised Carbonatites Discovered at C3 and C4 Multiple, Large Scale, REE-Nb-Ti-P Carbonatites Initial High-Grade, Independent Resource over 3kms at Yin Carbonatite Discovery Shaping up as Regional Rare Earth Source Yin Resource to Grow, Carbonatite Drilling Commenced Carbonatites Deliver Thick, Near Surface REE Results Metallurgical Test Work Supports High-Value Concentrate 40% Increase in Resource Tonnage at Yin High Grade Rare Earth & Niobium Zones at C3 & C5 High Grade Rare Earth & Niobium Zones at C3 & C5 Rare Earth Ironstone and Carbonatite Drilling Update Initial, Independent REE-Nb-P-Ti-Sc Resource at C3 Mangaroon Carbonatite now >17km – Higher Grade Zones Fingerprinted Large, High Confidence Yin Ironstone Resource Gifford Creek REE-Nb-P-Ti-Sc Carbonatite Drilling Update Gifford Creek REE-Nb Carbonatite Update Gifford Creek Niobium Drilling Update Thick High-Grade Niobium Intercepts from Gifford Creek Carbonatite Exceptional Niobium Intercepts at the Stinger Discovery ~Ends~ For further information please contact: Dean Tuck Managing Director Dreadnought Resources Limited E: dtuck@dreres.com.au Jessamyn Lyons Company Secretary Dreadnought Resources Limited E: jlyons@dreres.com.au This announcement is authorised for release to the ASX by the Board of Dreadnought. ASX:DRE Dreadnought Resources Ltd 7 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au SNAPSHOT – MANGAROON CRITICAL MINERALS Mangaroon is 100% Owned • 100% owned Mangaroon confirmed as a globally significant critical minerals complex with proven potential for niobium (Nb), rare earths (REE), scandium (Sc), titanium (Ti) and phosphorous (P). Genuine Scale Potential for Niobium and other Critical Minerals • • Three zones of thick oxide niobium mineralisation confirmed to date with significant intercepts including: • CBRC195: 130m @ 0.7% Nb2O5 from 71m, including 39m @ 1.3% Nb2O5 from 84m (Stinger) • CBRC176: 50m @ 0.9% Nb2O5 from 49m, including 20m @ 1.3% Nb2O5 from 56m (Stinger) • CBRC194: 122m @ 0.7% Nb2O5 from 71m, including 26m @ 1.1% Nb2O5 from 99m (Stinger) • CBRC201: 98m @ 0.7% Nb2O5 from 54m, including 41m @ 1.1% Nb2O5 from 85m (Stinger) • CBRC085: 48m @ 0.8% Nb2O5 from 30m, including 36m @ 1.0% Nb2O5 from 39m (C3) • CBRC125: 59m @ 0.6% Nb2O5 from 63m, including 19m @ 1.0% Nb2O5 from 99m (C3) Fresh niobium mineralisation has been confirmed over 1.2 km strike, open in all directions at Stinger. Multiple Critical Minerals Potential at the Gifford Creek Carbonatite • The Gifford Creek Carbonatite and associated ironstones is one of the largest carbonatite complexes in the world. • Wide spaced drilling over <25% of the ~17km long Gifford Creek Carbonatite has already identified 3 zones of mineralisation containing Nb-REE-Sc-Ti-P. This makes for a critical minerals mix of co-products with significant intercepts including: • CBRC115: 102m @ 1.1% TREO from 3m, including 29m @ 2.1% TREO from 76m • CBRC148: 43m @ 11.9% P2O5 from 87m, including 24m @ 14.5% P2O5 from 105m to EOH • CBRC138: 12m @ 319ppm Sc from 48m and CBRC125: 10m @ 270ppm Sc from 18m • CBRC086: 72m @ 8.6% TiO2 from 12m, including 6m @ 12.8% TiO2 from 66m Positive Mineralogical Results • Recent mineralogical work at the Gifford Creek Carbonatite has confirmed the presence of pyrochlore, which is a high niobium mineral (>50%) which is commercially viable and from which ~95% of global niobium is produced. Global Strategic Imperative Driving Critical Minerals Growth • Supply chain security and low carbon transition are imperatives against a backdrop of heightened geopolitical tension. • Niobium is a critical mineral primarily used in high strength, low alloy steel with application to renewables, infrastructure and vehicles. The addition of a small amount of niobium increases the strength of steel whilst decreasing weight by ~30%. • Niobium-based technology breakthroughs are being experienced in the battery sector where niobium is reducing electric vehicle charge times to ~5 minutes. ASX:DRE Dreadnought Resources Ltd 8 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Background on Mangaroon (E08/3178, E08/3229, E08/3274, E08/3275, E09/2290, E09/2359, E09/2370, E09/2383, E09/2384, E09/2405, E09/2422, E09/2433, E09/2448, E09/2449, E09/2450, E09/2467, E09/2473, E09/2478, E09/2535, E09/2616, E08/3539, E08/3740, E09/2994, E09/2989, E09/2982, M09/91, M09/146, M09/147, M09/174, M09/175: 100%) Mangaroon (Figure 7) covers >4,500kms2 of the Mangaroon Zone in the Gascoyne Region of Western Australia and is comprised of: • >45km long Money Intrusion (Ni-Cu-Co-PGE): containing high tenor magmatic Ni-Cu-Co-PGE. • Mangaroon Gold Camp (Au, Cu-Zn-Ag): Containing 5 granted mining leases where fractured, small-scale ownership has limited previous gold exploration with only ~200m of the >12km long Mangaroon Shear Zone having been drilled. This area also contains the ~12km x 6km Bordah and ~50km long High Range prospects where limited previous exploration has identified outcropping gold and base metal mineralisation. • ~43km long Yin Ironstone (REE): which already contains: an independent Resource of 20.06Mt @ 1.03% TREO (ASX 5 Jul 2023) over only ~4km of the ~43km of ironstones including an initial Indicated Resource of 5.52Mt @ 1.23% TREO over only ~250m of strike (ASX 5 Jul 2023). • ~17km long Gifford Creek Carbonatites (REE-Nb-Ti-P-Sc): which contains a suite of critical minerals including the Stinger Exploration Target and an initial independent Inferred Resource of 10.84Mt @ 1.00% TREO at C3 (ASX 28 Aug 2023). Figure 7: Plan view map of Dreadnought’s 100% owned Mangaroon Project: the >45km long Money Intrusion (Ni-Cu-CoPGE); the Mangaroon Gold Camp (Cu-Zn-Ag-Au); Yin Ironstone Complex (REE) and the Gifford Creek Carbonatites (REE-Nb) in relation to major structures, geology and roads. ASX:DRE Dreadnought Resources Ltd 9 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Cautionary Statement This announcement and information, opinions or conclusions expressed in the course of this announcement contains forecasts and forward-looking information. Such forecasts, projections and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those expressed or implied. There are a number of risks, both specific to Dreadnought, and of a general nature which may affect the future operating and financial performance of Dreadnought, and the value of an investment in Dreadnought including and not limited to title risk, renewal risk, economic conditions, stock market fluctuations, commodity demand and price movements, timing of access to infrastructure, timing of environmental approvals, regulatory risks, operational risks, reliance on key personnel, reserve estimations, native title risks, cultural heritage risks, foreign currency fluctuations, and mining development, construction and commissioning risk. Competent Person’s Statement – Mineral Resources The information in this announcement that relates to the Star of Mangaroon Mineral Resource is based on information compiled by Mr. Paul Payne, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr. Payne is a full-time employee of Payne Geological Services Pty Ltd and is a shareholder of Dreadnought Resources Limited. Mr. Payne has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves’. Mr. Payne consents to the inclusion in the announcement of the matters based on his information in the form and context that the information appears. Competent Person’s Statement – Exploration Results The information in this announcement that relates to geology, exploration results and planning, and exploration targets was compiled by Mr. Dean Tuck, who is a Member of the AIG, Managing Director, and shareholder of the Company. Mr. Tuck has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Tuck consents to the inclusion in the announcement of the matters based on the information in the form and context in which it appears. The Company confirms that it is not aware of any further new information or data that materially affects the information included in the original market announcements by Dreadnought Resources Limited referenced in this report and in the case of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. To the extent disclosed above, the Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. RESOURCES SUMMARY Yin Ironstone Complex – Yin, Yin South, Y2, Sabre Measured, Indicated and Inferred Resources Table 3: Summary of Yin Resources at 0.20% TREO Cut off. Measured Type Oxide Fresh Total Tonnes (Mt) 2.47 2.70 5.17 TREO (%) 1.61 1.09 1.34 Indicated TREO (kt) 39.7 29.5 69.3 Tonnes (Mt) 13.46 7.67 21.13 Inferred TREO (%) 1.06 0.95 1.02 TREO (t) 142.6 72.8 215.4 Tonnes (Mt) 1.51 2.17 3.68 TREO (t) 106.4 47.9 154.3 Tonnes (Mt) 0.26 0.42 0.68 TREO (%) 0.75 0.75 0.75 Total TREO (t) 11.2 16.3 27.6 Tonnes (Mt) 17.44 12.54 29.98 TREO (%) 1.11 0.95 1.04 TREO (t) 4.3 7.3 11.6 Tonnes (Mt) 7.20 4.43 11.63 TREO (%) 2.03 1.76 1.93 TREO (t) 193.6 118.7 312.3 NdPr:TREO Ratio (%) 29 29 29 Table 4: Summary of Yin Resources at 1.00% TREO Cut off. Measured Type Oxide Fresh Total Tonnes (Mt) 1.60 1.36 2.96 TREO (%) 2.22 1.68 1.97 Indicated TREO (kt) 35.6 22.8 58.4 Tonnes (Mt) 5.34 2.65 7.99 Inferred TREO (%) 1.99 1.81 1.93 TREO (%) 1.67 1.72 1.70 Total TREO (t) 146.3 78.0 224.3 NdPr:TREO Ratio (%) 30 29 29 Gifford Creek Carbonatite – Inferred Resource Table 5: Summary of the Gifford Creek Carbonatite Inferred Resource at various % TREO Cut offs. Cut-Off (%TREO) 0.90 0.70 0.50 0.30 Resource (Mt) 5.73 10.84 20.55 45.87 TREO (%) 1.18 1.00 0.80 0.58 NdPr:TREO (%) 21 21 21 21 Nb2O5 (%) 0.25 0.22 0.15 0.10 P2O5 (%) 3.8 3.5 3.0 2.7 TiO2 (%) 5.4 4.9 3.9 3.0 Sc (ppm) 92 85 68 52 Contained TREO (t) 67,500 108,000 164,600 265,300 Contained Nb2O5 (t) 14,500 23,700 31,100 44,800 Star of Mangaroon – Indicated and Inferred Resources Table 6: Resource (2g/t Au cut off grade) - Numbers may not add up due to rounding Type Transition Fresh Total ASX:DRE Indicated Tonnes 1,900 42,500 44,400 Au (g/t) 26.9 13.0 13.6 Inferred Au (Oz) 1,700 17,800 19,500 Tonnes 12,200 12,200 Au (g/t) 9.8 9.8 Total Au (Oz) 3,900 3,900 Tonnes 1,900 54,700 56,600 Au (g/t) 26.9 12.3 12.8 Au (Oz) 1,700 21,700 23,400 Dreadnought Resources Ltd 10 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Table 7: Stinger Intersections based on a minimum length of 6m and a lower cut off grade of 0.1% Nb2O5, Drill Collar Data (GDA94 MGAz50) *Some of these will be different from previously reported due to minimum length and lower cut off. Type Interval (m) Nb2O5 (%) Hole ID Easting Northing RL Dip Azimuth EOH Prospect 18 0.12% CBRC050 RC 415770 7348340 296 -90 0 123 54 0.23% CBRC107 RC 416640 7347831 309 -90 0 105 33 0.12% CBRC108 RC 416507 7347918 308 -90 0 93 30 0.11% CBRC109 RC 416379 7348006 307 -90 0 93 39 0.62% CBRC110 RC 416246 7348109 306 -90 0 105 48 0.70% CBRC111 RC 416112 7348147 305 -90 0 111 63 0.56% CBRC138 RC 416919 7347687 310 -90 0 117 30 0.37% CBRC148 RC 416556 7347642 306 -90 0 129 63 0.18% CBRC155 RC 416823 7347488 308 -90 0 111 42 0.49% CBRC174 RC 416930 7347706 310 -60 31 96 73 0.39% CBRC175 RC 416902 7347650 309 -60 32 126 56 0.82% CBRC176 RC 416874 7347602 308 -60 29 108 6 0.14% Stinger CBRC177 RC 416774 7347762 308 -90 0 72 25 0.37% CBRC178 RC 417058 7347614 310 -90 0 55 69 0.34% CBRC189 RC 417057 7347608 310 -90 0 108 59 0.86% CBRC193 RC 416847 7347539 306 -60 32 108 125 0.64% CBRC194 RC 415993 7348105 303 -61 33 186 144 0.72% CBRC195 RC 416019 7348150 303 -60 31 210 45 0.60% CBRC196 RC 416171 7348104 305 -61 32 168 103 0.43% CBRC197 RC 416154 7348063 303 -61 33 168 75 0.24% CBRC198 RC 416295 7348031 305 -61 39 168 45 0.34% CBRC199 RC 416271 7347990 303 -61 34 162 96 0.86% CBRC200 RC 416850 7347541 306 -60 37 186 154 0.70% CBRC201 RC 416824 7347489 308 -61 33 152 62 0.53% Length Weighted Average of Dreadnought Holes Table 8: Stinger Intersections based on a minimum length of 1m and a lower cut off grade of 0.7% Nb2O5, Drill Collar Data (GDA94 MGAz50) *Some of these will be different from previously reported due to minimum length and higher cut-off. Type Interval (m) Nb2O5 (%) Hole ID Easting Northing RL Dip Azimuth EOH Prospect 3 0.73% CBRC107 RC 416640 7347831 309 -90 0 105 17 0.74% CBRC110 RC 416246 7348109 306 -90 0 105 9 1.40% CBRC111 RC 416112 7348147 305 -90 0 111 15 0.82% CBRC138 RC 416919 7347687 310 -90 0 117 7 1.18% CBRC174 RC 416930 7347706 310 -60 31 96 1 0.99% CBRC175 RC 416902 7347650 309 -60 32 126 28 1.18% CBRC176 RC 416874 7347602 308 -60 29 108 6 1.03% CBRC189 RC 417057 7347608 310 -90 0 108 36 1.13% CBRC193 RC 416847 7347539 306 -60 32 108 Stinger 55 0.97% CBRC194 RC 415993 7348105 303 -61 33 186 69 1.09% CBRC195 RC 416019 7348150 303 -60 31 210 8 1.31% CBRC196 RC 416171 7348104 305 -61 32 168 16 1.02% CBRC197 RC 416154 7348063 303 -61 33 168 3 0.70% CBRC198 RC 416295 7348031 305 -61 39 168 6 0.84% CBRC199 RC 416271 7347990 303 -61 34 162 53 1.17% CBRC200 RC 416850 7347541 306 -60 37 186 45 1.09% CBRC201 RC 416824 7347489 308 -61 33 152 22 1.07% Length Weighted Average of Dreadnought Holes ASX:DRE Dreadnought Resources Ltd 11 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au JORC Code, 2012 Edition – Table 1 Report Template Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.) Criteria JORC Code explanation Commentary Sampling techniques • Reverse Circulation (RC) drilling was undertaken to produce samples for assaying. • • • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that