Announcement PDF 6 June 2023 MANGAROON GOLD REVIEW AND FURTHER CONSOLIDATION – MANGAROON 100% HIGHLIGHTS • A six-month review into the high-grade gold at Mangaroon has identified significant potential in a ~40km x ~20km focus area around the Mangaroon Shear Zone - a linkage structure between the crustal scale Minga Bar and Edmund Faults. There are numerous historical workings along the >10km Shear Zone which has remarkably only seen significant drilling (34 holes) over ~200m strike at the Star of Mangaroon mine (Figure 2). • The historical drilling at the Star of Mangaroon includes significant (post mining) intercepts: • MA10: 4m @ 26.0 g/t Au from 4m • MA17: 7m @ 14.3 g/t Au from 7m • MA23: 2m @ 29.8 g/t Au from 19m • MA43: 1m @ 53.0 g/t Au from 18m • SMC07: 4m @ 18.7 g/t Au from 18m • SMC09: 4m @ 16.4 g/t Au from 14m • Rock chips from historical workings within the focus area include: • MNRK0515: 74.8 g/t Au (Diamond) • TPRK05: 41.7 g/t Au (Two Peaks) • SM7: 121.2 g/t Au, 179 g/t Ag (Popeye) • RNCYD048: 53.0 g/t Au, 552 g/t Ag (Popeye) • The Lead Gold Mine (M09/91), the last remaining mining lease within the area, has now been conditionally acquired from an unrelated third party*. Dreadnought now has 100% ownership of all significant historical workings around the Mangaroon Shear Zone. The Lead Gold Mine has never been drilled. • Significant ultrafine soils geochemical and stream sediment surveys are being undertaken over the focus area. • RC drilling will commence in August 2023 at the Star of Mangaroon, the Lead Gold Mine, Cullen’s Find, Two Peaks and Diamond following the completion of the current Resource focussed drilling at the Yin ironstones. • Drilling at the Yin ironstones, the C1-C7 carbonatites and metallurgical studies ongoing. Dreadnought Resources Limited (“Dreadnought”) is pleased to announce that it has completed a six-month review into the high-grade gold potential, and acquired* the Lead Gold Mine, at Mangaroon in the Gascoyne Region of Western Australia. Dreadnought’s Managing Director, Dean Tuck, commented: “The Gascoyne remains one of the most underexplored terrains, with minimal cover, in all of Western Australia. The results of this review underscores our belief that this region will continue to deliver at and near surface opportunities across a range of commodities. Having now consolidated the historical workings around the Star of Mangaroon, we are well positioned to progress a significant high grade gold opportunity to our portfolio.” Figure 1: Image of visible gold within a quartz vein with secondary oxides and carbonates after sulphides from a mullock sample at the recently acquired* Lead Gold Mine (M09/091). The field of view is ~5cm. The sample has not been assayed. Sample collected from 371655E, 7361095N GDA95 MGAz50 *Cautionary Statement: Dreadnought has entered into a binding agreement with an unrelated, third party to acquire 100% of the Lead Gold Mine. The acquisition is subject to the satisfaction of certain conditions prior to completion. The Lead Gold Mine is not yet owned by Dreadnought. Conditions precedent are to be satisfied prior to completion. Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 712, Osborne Park DC WA 6916 www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au +61 (08) 9473 8345 SNAPSHOT – MANGAROON GOLD Mangaroon Gold is 100% Owned by Dreadnought • Over 5,000sq kms of highly prospective ground, with minimal historical and no modern exploration. • Initial focus areas is a ~40km x ~20km focus area around the Mangaroon Shear Zone - a linkage structure between the crustal scale Minga Bar and Edmund Faults. • There are numerous historical workings along the >10km Shear Zone which has remarkably only seen drilling over ~200m at the Star of Mangaroon mine. No Modern Exploration • All historical workings and gold occurrences were discovered by pastoralists and prospectors over outcropping mineralisation. • No detailed geophysical, or geochemical surveys undertaken. • Limited drilling, with only shallow drilling over ~200m strike at the Star of Mangaroon in the 1990s and a handful of shallow drill holes at Two Peaks (800m), Cullen’s (352m) and Pritchard (2 holes, unverified). Genuine Camp Scale Potential • Five historical mines developed on outcropping mineralisation and dozens of gold occurrences along highly prospective structural corridors. • Majority of historical workings cover an ~800km2 area within Dreadnought’s consolidated land holding. Significant, Step-change, Growth Potential • Dreadnought will deploy modern geochemical and geophysical techniques to explore for mineralisation under shallow cover. • Target generation and definition work is underway with results in August 2023 • RC drilling will commence in August 2023 with further drilling in November 2023. Shallow, High-grade, Au-Ag Potential • Historical drill results include: • MA10: 4m @ 26.0 g/t Au from 4m • MA17: 7m @ 14.3 g/t Au from 7m • MA23: 2m @ 29.8 g/t Au from 19m • MA43: 1m @ 53.0 g/t Au from 18m • SMC07: 4m @ 18.7 g/t Au from 18m • SMC09: 4m @ 16.4 g/t Au from 14m • Rock chip results include: • MNRK0515: 74.8 g/t Au (Diamond) • TPRK05: 41.7 g/t Au (Two Peaks) • SM7: 121.2 g/t Au, 179 g/t Ag (Popeye) • RNCYD048: 53.0 g/t Au, 552 g/t Ag (Popeye) Gold is a Long-term, Strategic, Global Asset During Uncertain Times • Gold is a long-term, strategic, global asset that provides a store of value in uncertain times. With banking sector uncertainty, geopolitical tensions and a challenging economic environment, gold’s role as a safe haven has come to the fore. • Demand for gold ETFs is strong as is Central Bank buying of physical gold. Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 712, Osborne Park DC WA 6916 www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au +61 (08) 9473 8345 Mangaroon Gold Review Dreadnought began the consolidation of the Mangaroon region in late 2020, initially to pursue the nickel and highgrade gold potential which had been identified by Allan McDonald, a pastoralist who owned Mangaroon Station. The completion of the current Resource focussed drilling at the Yin ironstones provides a window of opportunity to focus on the high-grade gold opportunity at Mangaroon. Over the past six months, Dreadnought has undertaken a review of the high-grade gold potential within the consolidated land holding. This has consisted of: - Review of historic, publicly available information; Discussions with pastoralists and prospectors who have worked the area over the years; Discussions with industry geologists who have explored the ground in the past; and Acquisition of detailed magnetic data (ongoing). This is the first-time information on the historical workings and gold occurrences from such a wide range of sources has been compiled and has resulted in highlighting the significant scale of gold mineralisation along the >10km long Mangaroon Shear Zone - a significant splay structure linking the Minga Bar and Edmund Faults. Importantly, no modern exploration has been undertaken (Figure 2). Remarkably only ~200m of drilling has been undertaken along the >10km Shear Zone. Occurrences such as Popeye with rock chips including (SM7: 121.2 g/t Au, 179 g/t Ag and RNCYD048: 53.0 g/t Au, 552 g/t Ag), the recently acquired Lead Gold Mine* (rock chips pending, but significant visible gold identified), Diamond Gold Mine (MNRK0515: 74.8 g/t Au) and Mitchell’s Find (RNLYD029: 16.4 g/t Au, 126 g/t Ag) have never been drilled. Figure 2: Image of the >10km long Mangaroon Shear Zone highlighting historic mines/workings, and highly prospective results. Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 712, Osborne Park DC WA 6916 www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au +61 (08) 9473 8345 Star of Mangaroon The Star of Mangaroon mine has been the largest historic gold producer in the Gascoyne region. Between 1960 and 1983 the mine produced 7,464 oz at an average grade of 34.8g/t Au1. The mine was discovered in 1956 by the local pastoralist, Allan McDonald. Most of the gold production was mined from underground with the lowest extraction level ~90m below surface. The Two Peaks mine is located ~9kms northwest of the Star of Mangaroon. The small open pit produced ~5,000 oz at a grade of ~7.9 g/t Au1. The Star of Mangaroon has received little exploration work since its discovery. Drilling undertaken in the 1990s produced significant results including: • MA10: 4m @ 26.0 g/t Au from 4m • MA17: 7m @ 14.3 g/t Au from 7m • MA23: 2m @ 29.8 g/t Au from 19m • MA43: 1m @ 53.0 g/t Au from 18m • SMC07: 4m @ 18.7 g/t Au from 18m • SMC09: 4m @ 16.4 g/t Au from 14m The majority of historical drilling is within 50m of the surface with only one hole drilled below 100m which returned 4m @ 3.8 g/t Au from 176m (STMRC005) and highlights the potential of the lode to continue at depth (Figure 3). Figure 3: Long section of the Star of Mangaroon showing historical intercepts and workings. 1. Prime Minerals Annual Report 2008, WAMEX Report A79994 Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 712, Osborne Park DC WA 6916 www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au +61 (08) 9473 8345 Next Steps With historical exploration in the region dominated by pastoralists and prospectors, there has been no significant modern exploration undertaken over the now consolidated land holding. All the known gold occurrences were mineralised outcrops, in an area dominated by shallow colluvial cover. There is significant opportunity for further discovery by: - expanding upon the known mineralisation, most of which will be drilled for the first time; and deploying modern techniques to explore undercover to unlock the controlling mechanisms on mineralisation in the region. A detailed airborne magnetic survey (100m line spacing) has been flown, with even higher resolution (50m line spacing) flown over the ~40km x ~20km focus area. Results are being received and interpretation has commenced. Target definition focused ultrafine soil survey is currently underway over the Mangaroon Shear Zone. Additionally, target definition focused stream sediment sampling is nearly complete over the region which may result in the identification of further gold camps. RC drilling will commence over historical workings at the Star of Mangaroon, Diamond Gold Mine, Lead Gold Mine, Two Peaks and Cullen’s Find in August 2023. A second round of drilling, to follow up on the initial program and to test any targets defined following the geophysical and geochemical surveys, is planned for November 2023. Lead Gold Mine Key Commercial Terms with the Unrelated Vendor (subject to Completion) Key commercial terms to acquire 100% of M09/091 are summarised below: • • • • • Dreadnought to own 100% upon Completion; Dreadnought to pay $60,000 upon signing the Sale & Purchase Agreement (paid); Dreadnought to pay $60,000 at Completion; Vendor to receive 2,500,000 fully paid ordinary shares at Completion; and 1.0% gross royalty. Completion is expected to occur in July 2023 Figure 4: Image of visible gold within a quartz vein with secondary oxides and carbonates after sulphides from a mullock sample at the Lead Gold Mine (M09/091). Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 712, Osborne Park DC WA 6916 www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au +61 (08) 9473 8345 Background on Mangaroon (E8/3178, E08/3274, E09/2384, E09/2433, E09/2473: FQM Earn-in) (E08/3275, E08/3439, E09/2290, E09/2359, E09/2405, E09/2370, E09/2448, E09/2449, E09/2450, E09/2467, E09/2478, E09/2531, E09/2535, E09/2616, E09/2620, M09/146, M09/147, M09/174, M09/175: DRE 100%) Mangaroon covers >5,300sq kms of the Mangaroon Zone in the Gascoyne Region of Western Australia. Part of the project is targeting Ni-Cu-PGE and is subject to an earn-in with First Quantum Minerals Ltd (“FQM”) (earning up to 70%) – Figure 5. The region is host to high-grade gold mineralisation at the Bangemall/Cobra and Star of Mangaroon gold mining centres and the high NdPr:TREO ratio Yin and Yangibana REE deposits. Dreadnought has located outcropping high-grade gold bearing quartz veins along the Star of Mangaroon Shear, Edmund and Minga Bar Faults, high-grade REE ironstones, similar to those under development at Yangibana, REE-P2O5-Nb2O5-TiO2-Sc mineralised carbonatites and outcropping high tenor Ni-Cu-PGE blebby sulphides at the Money Intrusion. Dreadnought has already successfully delivered: - an initial independent JORC Inferred Resource of 14.36Mt @ 1.13% TREO (ASX 28 Dec 2022) covering only 3kms of the 43kms of strike within the Yin Ironstone Complex; and an Exploration Target of 50-100Mt at 0.9-1.3% TREO (ASX 13 Feb 2023) estimated over the remaining 40 kms of strike within the Yin Ironstone Complex. Figure 5: Plan view map of Mangaroon showing the location of gold, nickel and REE prospects in relation to major structures, geology and roads. Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 712, Osborne Park DC WA 6916 www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au +61 (08) 9473 8345 For further information please refer to previous ASX announcements: • 25 November 2020 Mangaroon Ni-Cu-PGE & Au Project • 15 March 2021 Exploration Commences at Mangaroon Ni-Cu-PGE & Au Project • 7 April 2021 Option/JV Agreement Signed with Global Base Metal Miner • 17 May 2021 Update on Mangaroon Ni-Cu-PGE & Au Project • 12 September 2022 Star of Mangaroon Acquisition & Consolidation UPCOMING NEWSFLOW June-December: Ongoing drilling results from Mangaroon REE (100%) 21-22 June: Gold Coast Investment Showcase June: FLEM Results from Thunderer and Orion (Tarraji 80%, Yampi 100%) June/July: REE Resource upgrade (Mangaroon 100%) June/July: Results of nickel review with Newexco (Central Yilgarn 100%) July: Commencement of RC drilling at the Money Intrusion (Mangaroon First Quantum Earn-in) July: Quarterly Activities and Cashflow Report 19-21 July: Noosa Mining Investor Conference August: Commencement of RC drilling at Mangaroon Au (100%) 7-9 August: Diggers and Dealers Conference September: Drilling and DHEM results from Money Intrusion (Mangaroon First Quantum Earn-in) September: Commencement of drilling at Tarraji-Yampi (80% and 100%) November: Follow-up RC drilling at Mangaroon Au (100%) December 2023 quarter: REE Resource upgrade (Mangaroon 100%) ~Ends~ For further information please contact: Dean Tuck Managing Director Dreadnought Resources Limited E:dtuck@dreadnoughtresources.com.au Jessamyn Lyons Company Secretary Dreadnought Resources Limited E:jlyons@dreadnoughtresources.com.au This announcement is authorised for release to the ASX by the Board of Dreadnought. Competent Person’s Statement The information in this announcement that relates to geology and exploration results and planning 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 report 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 new information or data that materially affects the information in the original reports, and that the forma and context in which the Competent Person’s findings are presented have not been materially modified from the original reports. Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 712, Osborne Park DC WA 6916 www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au +61 (08) 9473 8345 INVESTMENT HIGHLIGHTS Kimberley Ni-Cu-Au Projects Dreadnought controls the second largest land holding in the highly prospective West Kimberley region of WA. The main project area, Tarraji-Yampi, is located only 85kms from Derby and has been locked up as a Defence Reserve since 1978. Tarraji-Yampi presents a rare first mover opportunity with known outcropping mineralisation and historic workings from the early 1900’s which have seen no modern exploration. Results to date indicate that there may be a related, large scale, Proterozoic Cu-Au-Ag-Bi-Sb-Co system at Tarraji-Yampi, similar to Cloncurry / Mt Isa in Queensland and Tennant Creek in the Northern Territory. Mangaroon Ni-Cu-PGE JV & REE Au 100% Project Mangaroon is a first mover opportunity covering ~5,300 kms located 250kms south-east of Exmouth in the vastly underexplored Gascoyne Region of WA. Part of the project is targeting Ni-Cu-PGE and is subject to a joint venture with First Quantum Minerals (earning up to 70%). The joint venture area contains outcropping high tenor Ni-Cu-PGE blebby sulphides at the Money Intrusion. Dreadnought’s 100% owned areas contain outcropping high-grade gold bearing quartz veins including the historic Star of Mangaroon and Diamond’s gold mines, along the Edmund and Minga Bar Faults and outcropping high-grade REE ironstones and seven carbonatite intrusions which may be the source of the regions rare earth mineralisation. Dreadnought has delivered an initial JORC Inferred Resource over just 3kms Yin REE Ironstone Complex delivering 14.36Mt @ 1.13% TREO (30% NdPr:TREO Ratio) (ASX 28 Dec 2022) with an additional 40 strike kilometres still to be tested. Bresnahan HREE and Au Project Bresnahan is located ~125km southwest of Newman in the Ashburton Basin. The project comprises ~3,700 sq kms covering over 200kms strike along the Bresnahan Basin / Wyloo Group unconformity. Bresnahan is prospective for unconformity related heavy rare earth (“HREE”) deposits similar to Browns Range HREE deposits and mesothermal lode gold similar to Paulsen’s Au-Ag-Sb deposits along strike. Prior to consolidation by Dreadnought, the Bresnahan Basin had only been explored for unconformity uranium with limited exploration for mesothermal gold. Bresnahan is a first mover opportunity to explore for unconformity HREE. Central Yilgarn Gold, Base Metals, Critical Minerals & Iron Ore Project Central Yilgarn is located ~190km northwest of Kalgoorlie in the Yilgarn Craton. The project comprises ~1,600 sq kms covering ~150km of strike along the majority of the Illaara, Yerilgee and Evanston greenstone belts. Central Yilgarn is prospective for typical Archean mesothermal lode gold deposits, VMS base metals, komatiite hosted nickel sulphides and critical metals including Lithium-Caesium-Tantalum. Prior to consolidation by Dreadnought, the Central Yilgarn was predominantly held by iron ore explorers and remains highly prospective for iron ore. Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 712, Osborne Park DC WA 6916 www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au +61 (08) 9473 8345 Table 1: Some Significant Historical Rock Chips (location in GDA94 MGAz50 and Degrees, Minutes, Seconds) Au Ag Cu Pb Sample ID Easting Northing Prospect (g/t) (g/t) (%) (%) LS-02 346957 7377661 0.8 5.5 Cullen’s Find MNRK0515 354327 7358767 74.8 1.1 0.6 Diamond MNRK0513 354315 7358762 4.19 2.0 0.3 RNLYD029 361642 7374782 16.4 126 7.2 3.5 BDRK06 361586 7374774 2.8 10.0 0.5 0.6 Mitchell’s Find BDRK01 361586 7374774 1.0 0.3 3.6 MNRK0431 349765 7369360 0.9 0.6 Nail RNLYD048 372599 7359406 30.1 552 1.8 2.3 RNLYD050C 372707 7359460 17.9 769 0.6 1.7 Popeye RNLYD047A 372599 7359418 10.2 518 0.8 4.4 SM7 115 44’ 54” 23 52’ 20” 121.2 179 2.7 2.8 RWK11 372304 7359795 44.6 1.8 RWK14 372313 7359809 11.9 33.2 0.3 0.7 Star of Mangaroon RWK13 372313 7359811 9.4 1.0 RNLYD059 372322 7359769 2.5 3.4 TPRK05 367657 7367056 41.7 3.5 1.0 2.1 TPRK04 367657 7367056 9.6 47.1 1.2 4.7 Two Peaks TPRK07 367657 7367056 2.4 212 6.7 34.6 TPRK08 367657 7367056 1.5 2.12 1.9 10.5 SM16 115 44’ 22” 23 51’ 20” 0.2 185 6.9 10.7 Lead Au Mine SM17 115 44’ 22” 23 51’ 20” 0.3 75 0.1 23.4 Table 2: Significant Drill Results (>0.1 g/t Au and >1.0g/t Au) Hole ID From (m) To (m) Interval Sample Type Au (g/t) MA2 MA5 MA6 MA7 MA8 MA9 MA10 MA14 MA15 MA16 MA17 MA20 MA22 MA22 MA23 MA26 MA27 MA29 MA30 MA34 MA36 MA37 MA38 MA40 MA41 9 14 17 13 15 12 9 29 23 25 21 49 1 47 19 3 0 5 3 8 82 95 51 68 42 15 16 21 18 19 13 13 31 28 28 28 51 2 51 21 10 1 6 7 9 84 97 52 72 43 6 2 4 5 4 1 4 2 5 3 7 2 1 4 2 7 1 1 4 1 2 2 1 4 1 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 2.4 0.8 6.5 3.6 6.4 6.3 26.0 17.2 4.2 10.3 14.3 10.9 2.7 6.3 29.8 0.8 4.0 1.2 0.5 2.5 4.2 1.9 8.2 6.0 1.4 Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 712, Osborne Park DC WA 6916 Prospect Star of Mangaroon www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au +61 (08) 9473 8345 Hole ID From (m) To (m) Interval MA43 STMRC001 STMRC005 SMC01 SMC04 SMC05 SMC07 SMC08 SMC09 A B and and C incl. and D and incl. E F L incl. and incl. TPC020 18 54 176 9 33 8 8 20 14 0 0 19 29 7 12 21 3 25 25 0 0 2 13 24 26 36 19 55 180 10 35 11 12 24 18 63 19 27 50 16 14 62 15 36 26 45 30 15 14 31 29 37 1 1 4 1 2 3 4 4 4 Hole ID MA2 MA5 MA6 MA7 MA8 MA9 MA10 MA14 MA15 MA16 MA17 MA20 MA22 MA22 MA23 MA26 MA27 MA29 MA30 Easting 372335 372328 372327 372325 372327 372327 372320 372335 372333 372332 372328 372351 372355 372355 372322 372273 372309 372248 372278 8 9 2 12 11 1 13 1 7 3 1 Sample Type Au (g/t) 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split 1m split Not Assayed Not Assayed 1m sample Not Assayed 1m sample 1m sample Not Assayed 1m sample 1m sample 1m sample Not Assayed Not Assayed 1m sample 1m sample 1m sample 1m sample 1m sample 53.0 8.5 3.8 12.2 12.1 12.1 18.7 3.9 16.4 Star of Mangaroon 0.3 0.6 2.0 0.5 0.5 1.4 0.3 1.5 3.0 6.5 3.4 Table 3: Drill Collar Data (GDA94 MGAz50) Northing RL Dip Azimuth EOH Type 7359860 290 -60 310 30 RC 7359838 290 -60 276 35 RC 7359828 290 -60 276 35 RC 7359815 290 -60 300 30 RC 7359811 290 -60 272 30 RC 7359802 290 -60 278 25 RC 7359786 290 -60 322 27 RC 7359825 290 -60 270 49 RC 7359818 290 -60 270 39 RC 7359806 290 -60 272 50 RC 7359779 290 -60 290 45 RC 7359825 290 -60 270 60 RC 7359782 290 -60 285 60 RC 7359782 290 -60 285 60 RC 7359774 290 -60 302 30 RC 7359925 290 -60 30 20 RC 7359809 290 -90 0 20 RC 7359935 290 -60 205 40 RC 7359936 290 -60 204 45 RC Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 712, Osborne Park DC WA 6916 Prospect Cullen’s Find Two Peaks Prospect Star of Mangaroon www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au +61 (08) 9473 8345 Hole ID MA34 MA36 MA37 MA38 MA40 MA41 MA43 STMRC001 STMRC005 SMC01 SMC04 SMC05 SMC07 SMC08 SMC09 A B C D E F L TPC001 TPC002 TPC003 TPC004 TPC005 TPC006 TPC007 TPC008 TPC009 TPC010 TPC011 TPC012 TPC013 TPC014 TPC015 TPC016 TPC017 TPC018 TPC019 TPC020 TPC021 TPC022 TPC023 TPC024 TPC025 TPC026 TPC027 Easting 372330 372385 372408 372362 372385 372344 372309 372376 372466 372300 372337 372318 372321 372328 372324 346073 346102 346112 346121 346129 346150 346093 367654 367657 367659 367664 367666 367669 367670 367675 367676 367680 367682 367686 367688 367691 367641 367647 367652 367657 367662 367667 367627 367637 367648 367697 367703 367709 367690 Northing 7359894 7359825 7359826 7359806 7359786 7359753 7359747 7359826 7359861 7359752 7359772 7359779 7359789 7359781 7359782 7379672 7379628 7379634 7379639 7379646 7379598 7379680 7367055 7367065 7367073 7367084 7367094 7367103 7367111 7367129 7367133 7367143 7367153 7367162 7367171 7367181 7367079 7367100 7367115 7367137 7367157 7367178 7367106 7367143 7367183 7367063 7367084 7367102 7367112 Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 712, Osborne Park DC WA 6916 RL 290 290 290 290 290 290 290 290 290 290 290 290 290 290 290 287 287 287 287 287 287 287 316 317 317 318 317 317 318 317 317 317 317 317 316 316 315 315 315 315 315 315 314 314 314 317 317 316 318 Dip -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -75 -50 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 Azimuth 206 270 270 270 270 303 303 270 270 305 290 290 290 290 290 245 245 245 245 245 245 245 195 195 195 195 195 195 195 195 195 195 195 195 195 195 195 195 195 195 195 195 195 195 195 195 195 195 195 EOH 40 90 110 65 90 75 50 >55m >180m 15 40 16 15 26 20 63 50 62 51 45 30 51 20 20 20 20 20 20 16 24 20 20 20 20 20 20 40 40 40 40 40 40 50 50 50 30 30 30 40 Type RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC Prospect Star of Mangaroon Cullen’s Find Two Peaks www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au +61 (08) 9473 8345 JORC Code, 2012 Edition – Table 1 report template Section 1 Sampling Techniques and Data JORC TABLE 1 Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.) Criteria Sampling techniques JORC Code explanation • • • • 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 has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. Commentary Historical Rock Chips Quality of assay data and lab techniques are unknown and should be treated as indicative. Further work will be undertaken to confirm historical prospects and mineralised occurrences. Special attention is drawn to WAMEX reports: Regional Resources 1986-1988s: Reports A23715, 23713 WAMEX Welcome Stranger Mining 1995: WAMEX Report A43137 Hallmark Gold 1996: WAMEX Report A49576 Prime Minerals 2008: WAMEX Report A79994 Fox Resources 2002: WAMEX Report A82353 Historical Drilling MA1-28 (Balde Exploration 1988: A24641): Every meter a ~2kg sample (split) was subsampled into a plastic bag via a two-tier riffle splitter. A meter was logged geologically and “the most promising drill intersections” were sent to Australian Assay Laboratories in Perth for gold determination by fire assay and a AAS finish. (it is worth noting in the geological discussion that “It was virtually impossible to distinguish the orebody from the barren biotite gneiss in rock chips” and the impact that would have on their selective sampling approach) MA29-43 Welcome Stranger WAMEX Report A43137 Mining 1995: Every meter a ~1-2kg sample (split) was subsampled into a calico bag via a three-tier riffle splitter. A four meter composite sample was made from the bulk reject material and sent to Genalysis Laboratories in Perth for determination of gold “at ppm levels” using an aqua regia digest and flame atomic absorption spectrometry (B/AAS) to determine gold values. If the 4 composite produced a godl value >0.09 g/t Au, then the 1m splits were collected and sent to Genalysis Laboratories in Perth for Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 712, Osborne Park DC WA 6916 www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au +61 (08) 9473 8345 Criteria JORC Code explanation Commentary determination of gold by fire assay. (it is worth noting in the geological discussion that “In holes MA29-33 the gold anomalies reflecting a fine stockwork or disseminated type of mineralisation. In all the other drill holes which encountered anomalous gold values the mineralised rock could not be distinguished from host rock in the drill chips”) STMRC001 and 005 (Fox Annual Reports and ASX Announcements): No details provided asides from discussion of some results and collar details of two holes. No further details could be verified, including drill holes undertaken at Prichard which produced 3m @ 10g/t Au from a quartz vein. SM1-9 (Anthony Stehn) No detailed information asides from collar and survey details and assay results. Drilling techniques • Drill type (e.g. core, reverse circulation, openhole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.). Historical Drilling All historical drilling reported was completed with Reverse Circulation drilling. Limited information is available and was sourced from: Balde Exploration 1988: A24641 Welcome Stranger Mining 1995: WAMEX Report A43137 Fox Resources Annual Report 2003 Anthony Stehn 2017 Annual Report (unpublished – due to sunset clause) Anthony Stehn EIS Report 2016: A112527 Drill sample recovery • • • Logging • • • Method of recording