Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Announcement Summary Entity name DREADNOUGHT RESOURCES LTD Date of this announcement Monday October 09, 2023 The +securities the subject of this notification are: Other Total number of +securities to be issued/transferred ASX +security code Security description New class - code to be confirmed Unlisted options exercisable at $0.094 expiring 2 years from issue Refer to next page for full details of the announcement Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 1/7 Total number of +securities to be issued/transferred Issue date 6,000,000 09/10/2023 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 1 - Entity and announcement details 1.1 Name of entity DREADNOUGHT RESOURCES LTD We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities. 1.2 Registered number type Registration number ACN 119031864 1.3 ASX issuer code DRE 1.4 The announcement is New announcement 1.5 Date of this announcement 9/10/2023 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 2/7 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 2 - Issue details 2.1 The +securities the subject of this notification are: Other Please specify Unlisted options (exercise price $0.094 expiring 9/10/25), refer Appendix 3B lodged 29/09/23. 2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which: does not have an existing ASX security code ("new class") Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 3/7 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B New +securities ASX +security code +Security description New class - code to be confirmed Unlisted options exercisable at $0.094 expiring 2 years from issue +Security type ISIN code Options Date the +securities the subject of this notification were issued 9/10/2023 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://announcements.asx.com.au/asxpdf/20230929/pdf/05vgs087mvmtc8.pdf Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.09400000 9/10/2025 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other Description DRE Fully Paid Ordinary Shares Any other information the entity wishes to provide about the +securities the subject of this notification N/A Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 4/7 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B Refer to Appendix 3B lodged 29 September 2023 Issue details Number of +securities 6,000,000 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities Unlisted Options are to be issued to Shaw and Partners and their nominees for their role as Lead Manager in the Company's placement. Purpose of the issue To pay for services rendered Additional Details N/A Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 5/7 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 4 - +Securities on issue Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise: (A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.) 4.1 Quoted +Securities (Total number of each +class of +securities quoted) Total number of +securities on issue ASX +security code and description DRE : ORDINARY FULLY PAID 3,359,328,217 4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX) Total number of +securities on issue ASX +security code and description DREAJ : OPTION EXPIRING 11-AUG-2024 EX $0.06 2,000,000 DREAD : OPTION EXPIRING 30-JUN-2024 EX 0.5C 1,500,000 DREAA : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES 30,000,000 DREAM : OPTION EXPIRING 16-DEC-2025 EX $0.1575 853,098 DREAK : OPTION EXPIRING 26-NOV-2024 EX $0.06 2,000,000 DREAI : OPTION EXPIRING 02-JUL-2024 EX $0.04 12,100,000 DREAO : OPTION EXPIRING 02-MAR-2026 EX $0.12 1,223,151 DREAP : OPTION EXPIRING 14-JUN-2026 EX $0.075 2,000,000 DREAL : OPTION EXPIRING 14-JUL-2025 EX $0.065 8,500,000 New class - code to be confirmed : Unlisted options exercisable at $0.094 expiring 2 years from issue 6,000,000 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 6/7 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 5 - Other Listing Rule requirements 5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No 5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No 5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes 5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? 6,000,000 unlisted options exercisable at $0.094 expiring 2 years from the date of issue 5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 7/7