Announcement PDF ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 ASX ANNOUNCEMENT 12 March 2024 Mangaroon Ni-Cu-Co-PGE Reverts to 100% HIGHLIGHTS • The Mangaroon Ni-Cu-Co-PGE project will revert back to Dreadnought 100% effective 11 March 2024 following a decision by First Quantum Minerals to withdraw from the project as it seeks to direct cash flow toward major projects associated with its operations. • Achievements during the earn-in period include: - Identification of outcropping mineralisation along the 45km long Money Intrusion with first pass drilling to date only covering ~2.5 kms of strike; - Completion of ~24kms of fixed loop EM (“FLEM”) surveys to identify large accumulations of shallow massive sulphides (up to 300m depth); with detailed airborne magnetics and first pass outcrop mapping along the >45kms of the Money Intrusion. - Drilling success with 18 out of 28 RC holes drilled to October 2023, intersecting Ni-Cu-CoPGE mineralisation including shallow massive and semi massive sulphide mineralisation with significant intercepts including: REYRC013: 23m @ 0.50% Ni 0.51% Cu 0.02% Co 0.49g/t 3PGE from 36m including: 2m @ 3.32% Ni 2.88% Cu 0.12% Co 1.46g/t 3PGE from 45m • In November 2023, a 7 hole (1,432m) RC program was partially completed. Diamond tails and downhole EM (“DHEM”) remain outstanding. Of the 7 RC holes, 4 require diamond tails to reach the basal contact keel position, the other 3 identified sulphides. Until the program is completed, results are inconclusive. Drilling of an off-hole conductor at Bookathanna North also remains as unfinished business. • Due to the limitations of the FLEM surveys, a 13 kms long IP survey was completed in December 2023 with results expected in April 2024. In addition to massive sulphides, the IP survey is targeting large scale, net textured and heavily disseminated sulphide mineralisation and will provide a critical and necessary supplement for future targeting. • Fertile Ni-Cu-Co-PGE sulphide systems are rare, and Dreadnought continues to receive unsolicited interest from major mining companies regarding the project and expects to build on the success to date with another well-credentialed party. Dreadnought Resources Limited (“Dreadnought”) is pleased to announce an update on the 45km long Money Intrusion part of the Mangaroon Ni-Cu-Co-PGE project, located in the Gascoyne Region of Western Australia. Dreadnought’s Managing Director, Dean Tuck, commented: “We would like to acknowledge the good working relationship we have enjoyed with First Quantum Minerals. We have seen the Mangaroon Ni-Cu-Co-PGE project advance significantly during the earn-in period. Notwithstanding our success to date, there remains a substantial amount of unfinished business along the ~45km long mineralised Money Intrusion. Drilling to date has been sparce but highly successful over only 2.5kms of the Intrusion. Part of the November 2023 drill program is yet to be completed at Bookathanna North. The recent IP survey will significantly expand our geophysical knowledge and we now expect it will be a vital technique in advancing the project. We have barely touched targets at High Range, Lumpy’s, Lumpy’s South and the Money Intrusion South. Sulphide Ni-Cu discoveries are rare, and we expect to build on the success to date with another well-credentialed party.” Figure 1: Photo of drill hole KMRC013 intersecting shallow high tenor massive sulphides at Bookathanna North. dreadnoughtresources.com.au 1 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 SNAPSHOT – MANGAROON Ni-Cu-Co-PGE Large Scale Project, 100% Ownership • Over 5,000km2 of highly prospective ground located within Western Australia, the world’s top mining investment jurisdiction based on the Investment Attractiveness Index published in the Fraser Institute’s Annual Survey of Mining Companies • The >45km long Money Intrusion has outcropping mineralisation along nearly it’s entire length, with first pass drilling to date only covering ~2.5 kms of strike. Fertile Ni-Cu-Co-PGE System Confirmed • Fertile Ni-Cu-Co-PGE sulphide systems are rare, and the Money Intrusion has been proven to contain high tenor magmatic Ni-Cu-Co-PGE mineralisation. • The Money Intrusion is confirmed to be ~800Ma, a fertile time for Ni-Cu-Co-PGE systems globally. Highly prospective basal contact keel geometries, which are suitable for forming trap sites for magmatic sulphide accumulations, have been identified. • First pass drilling in 2022 and 2023 at the Bookathanna and High Range prospects intersected magmatic sulphide mineralisation (ASX 10 Nov 2022, 20 Sept 2023). To date, the Ni and Cu have been in ~50:50 proportions. • Notwithstanding the early-stage drilling, a significant success rate has already been achieved. Out of the 28 RC holes (4,338m) drilled to date, 18 holes have intersected Ni-Cu-Co-PGE sulphides with significant results including (ASX 8 Nov 2023): REYRC013: REYRC019: REYRC018: 23m @ 0.50% Ni 0.51% Cu 0.02% Co 0.49g/t 3PGE from 36m including: 2m @ 3.32% Ni 2.88% Cu 0.12% Co 1.46g/t 3PGE from 45m 10m @ 0.36% Ni 0.45% Cu 0.02% Co 0.18g/t 3PGE from 76m including: 2m @ 1.15% Ni 1.30% Cu 0.06% Co 0.36g/t 3PGE from 78m 53m @ 0.15% Ni 0.22% Cu 0.01% Co 0.08g/t 3PGE from 5m including: 1m @ 0.29% Ni 1.50% Cu 0.01% Co 0.11g/t 3PGE from 47m No Modern Exploration • Outcropping Ni sulphides were identified by Alan McDonald, the Pastoralist at Mangaroon in the early 1960s. However, no detailed geophysical, geochemical or mapping programs were ever undertaken. • The first-ever detailed airborne magnetics, surface geochemical, ground EM, IP and mapping surveys have now confirmed the potential of the >45km long Money Intrusion with over 50% of the intrusion yet to receive any EM surveys, and IP surveys only just commencing after orientation surveys showed proof of concept. Genuine Camp Scale Potential • Outcropping blebby sulphides have been confirmed over significant portions of the ~45km long Money Intrusion. • Multiple plumbing centres have been interpreted, each with the potential for trap sites within the magma pathways. • Mineralisation has already been confirmed by drilling at three prospects within the Money Intrusion: Bookathanna, Bookathanna North and High Range. Nickel and Copper are Critical to the Low Carbon Energy Transition • Nickel is essential to clean energy technologies including being a major cathode material in lithium-ion batteries. • Copper is essential for electricity-related technologies with renewable energy systems requiring up to 12x more copper compared to traditional energy systems. dreadnoughtresources.com.au 2 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Figure 2: Plan view image showing the location of recently completed drill holes (red dots) in relation to previous drilling (black dots) over a magnetics (RTP 1VD) and ortho image. The Money Intrusion is outlined in green. dreadnoughtresources.com.au 3 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Technical Discussion of Ni-Cu-Co-PGE RC Drilling Programs (REYRC001-028) To date, 28 RC holes (4,338m) have been drilled into the Money Intrusion over three programs: May 2022, August 2023 and November 2023. May 2022 Program, REYRC001-012 (12 holes, 1,832m): This program tested a weak EM conductor under a thin outcropping Ni-Cu-Co-PGE gossan at the Bookathanna target. The program confirmed that high tenor magmatic Ni-Cu-Co-PGE sulphides were accumulating along the contact of the Money Intrusion. This highlighted the fertility of the Money Intrusion to form and trap Ni-Cu-Co-PGE sulphide mineralisation. The program also confirmed the geometry of the mafic dykes to be plunging funnel shaped intrusions, further enhancing the potential for the formation of sulphide trap sites. August 2023 Program, REYRC013-022 (10 holes, 1,074m): This program was designed to test two small but highly conductive EM plates at the Bookathanna North target located ~2.5kms north of Bookathanna. The first hole of the program intersected high tenor, massive to semi-massive sulphides in an EM plate with a significant intercept of: REYRC013: 23m @ 0.50% Ni 0.51% Cu 0.02% Co 0.49g/t 3PGE from 36m including: 2m @ 3.32% Ni 2.88% Cu 0.12% Co 1.46g/t 3PGE from 45m Drilling missed the second EM plate. However, subsequent DHEM confirmed an off-hole conductor which remains as unfinished business. As a result of the massive sulphide intercept, and the thick disseminated halo of mineralisation around the massive sulphides, step out holes were drilled at 100m spacings to test the geometry of the basal contact of the intrusion with the country rock and for shallow disseminated mineralisation. This drilling resulted in the intersection of significant mineralisation that was not seen in the geophysical surveys completed to date including: REYRC019: 10m @ 0.36% Ni 0.45% Cu 0.02% Co 0.18g/t 3PGE from 76m including: 2m @ 1.15% Ni 1.30% Cu 0.06% Co 0.36g/t 3PGE from 78m Additionally, the program identified that the basal contact position of the Money Intrusion (or “keel”) is highly variable plunging from 60m depth to over 250m depth over just 100m of strike. This further enhances the potential formation of sulphide trap sites. Importantly, this variability also indicates that the mainly fixed loop EM (“FLEM”) surveys targeting shallow massive sulphides (up to 300m) may not be entirely effective along the Money Intrusion and must be supplemented with broader techniques such as IP. Figure 3: Long section of Bookathanna North showing mineralised intercepts and the highly variable basal contact keel position. Locations of the inconclusive November 2023 program are also shown. dreadnoughtresources.com.au 4 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 November 2023 Program, REYRC023-028 (7 holes, 1,432m): This program consisted of 7 RC holes, including a re-entry, to be deepened with diamond tails and associated DHEM. This program was designed to test the variability of the basal contact along the intrusion and to provide DHEM for identifying off-hole conductors at depth. Only the RC holes have been completed and until the program is completed, results are inconclusive. This program has continued to highlight the variable basal contact and confirmed mineralisation in 3 locations where the keel position was intersected. Hole ID From (m) REYRC023 REYRC024 REYRC025 and REYRC026 and REYRC027 REYRC028 REYRC017(re-enter) 208 233 218 231 158 To Interval Ni Cu Co (m) (m) (%) (%) (%) Did not hit keel, diamond tail and DHEM required. Did not hit keel, diamond tail and DHEM required. 216 8 0.16 0.19 0.01 234 1 0.13 0.46 0.02 219 1 0.10 0.10 0.01 232 1 0.09 0.14 0.01 163 5 0.14 0.16 0.01 Did not hit keel, diamond tail and DHEM required. Did not hit keel, diamond tail and DHEM required. 3PGE (g/t) Prospect 0.23 0.15 0.09 0.05 0.21 Bookathanna North In addition, a 13km long IP survey was undertaken to test the response of mineralisation intersected to date and the potential to highlight mineralisation not identifiable by the EM surveys used. Results from the IP survey are expected in April 2024. This survey is a vital supplement to the FLEM surveys targeting shallow massive sulphides done to date. Drilling to date has generally collared into the shallow and weakly weathered gabbroic core of the Money Intrusion before passing into the footwall olivine dolerite and finishing in gneissic to granitic country rock. Importantly, 18 of the 28 holes drilled to date have intersected disseminated and net textured Ni-Cu-CoPGE sulphides within the footwall olivine dolerite, with four holes not reaching to the footwall olivine dolerite. Of these, REYRC013 and REYRC019 each intersected 2m of semi-massive to massive sulphides within the mineralised envelope. All sulphide mineralisation consists of pentlandite (Fe,Ni)9S8, chalcopyrite (CuFeS2) and pyrrhotite (Fe(1-x)S) with pentlandite and chalcopyrite making up ~40-50% of the sulphide mix with the remainder being pyrrhotite. Assay results have confirmed the high tenor mineralisation which importantly includes significant palladium, platinum, gold (“3PGE”) and cobalt credits. The 3PGE credits are made up of ~70% palladium, ~20% platinum and ~10% gold. Figure 4: Plan view image of Bookathanna North showing the location of November 2023 program holes (red dots) in relation to previous drilling (black dots) over an ortho image. The Money Intrusion is outlined in green. dreadnoughtresources.com.au 5 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Technical Discussion of Ni-Cu-Co-PGE Exploration (E08/3274, E09/2384: 100%) The confirmation of a fertile magmatic Ni-Cu-Co-PGE system within the 45km long Money Intrusion highlights the potential for multiple deposits and/or deposit styles as outlined below. - Jinchuan Ni-Cu-Co-PGE: The Money Intrusion has been dated to ~800Ma, similar in age and tectonic setting to the Jinchuan Ni-Cu-Co-PGE deposit in China (>500 Mt @ 1.2% Ni, 0.7% Cu, ~0.4 g/t PGE, Lightfoot 2007). Jinchuan contains three main deposits over ~6.5kms of strike, each situated within a subchamber of the overall intrusion. Only one of the deposits outcrops at surface. Mineralisation is dominated by net-textured and disseminated sulphides with minor massive sulphide accumulations. The disseminated sulphides form an envelope around the higher-grade, net-textured and massive sulphides. - Eagle and Eagle East: To date, 18 out of 28 RC holes intersected high tenor mineralisation along significant strike showing increasing width and intensity near subtle changes in the walls and base of the intrusion, including the formation of massive and semi-massive mineralisation. These results highlight the potential for massive sulphide mineralisation to concentrate and form at trap sites. This is similar to Eagle and Eagle East (~5Mt @ 3.5% Ni, 2.9% Cu, 1.6g/t PGE, 0.1% Co, Lundin 2013) located in North America. Drill targeting to date has been dominated by fixed loop EM (“FLEM”) surveys designed to identify near-surface, massive sulphides along the southwestern edge of the Money Intrusion. Drilling has confirmed high tenor massive, semi-massive sulphides within a halo of net-texture and disseminated sulphides with mineralisation intensifying in trap sites along the edges and base of the intrusion. Drilling at Bookathanna North has confirmed that thick mineralisation occurs over a significant strike length. However, FLEM surveys were ineffective in identifying net-textured and semi-massive sulphide accumulations. Given the high tenor of the Ni-Cu-Co-PGE sulphide system, net-textured and semi-massive sulphides are attractive targets in their own right. Additionally, FLEM surveys are ineffective in identifying deeper trap sites with the potential to form significant massive sulphide accumulations. Targeting going forward will focus on identifying and understanding: - large scale, net textured and heavily disseminated sulphide mineralisation using IP surveys; and - deeper massive sulphide trap sites using geophysical inversions, DHEM and more powerful EM surveys. A reassessment of the Money Intrusion and the targeting completed to date is underway with further drill targets expected in the June 2024 quarter. Figure 5: Long section image of the ~6km long Bookathanna segment of the 45km long Money Intrusion showing the location of recently completed drill holes at Bookathanna North in relation to the effective search space of geophysical techniques used prior to the recent IP survey. A conceptual and interpreted basal contact keel shape is also shown. dreadnoughtresources.com.au 6 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Unfinished Business and Next Steps The opportunity at Mangaroon Ni-Cu-Co-PGE is substantial. Unfinished business includes: • Completion of the November 2023 program by diamond tailing 4 RC holes (EIS co-funding application submitted) and conducting DHEM to identify off-hole conductors. • Receive results of ~13kms long IP survey in April 2024 and determine implications for future targeting of massive sulphides as well as large scale, net textured and heavily disseminated sulphide mineralisation. • Money Intrusion Northeast (Cullabookana): The 10km long Cullabookana segment was the next segment of focus for First Quantum. Cullabookana likely represents a jog over of Bookthanna and contains abundant outcropping sulphide mineralisation and several areas of magmatic blow outs. The segment has been covered by fixed loop EM and a single IP line was run up the centre of the intrusion. Modeling of the IP survey is currently underway. • Bookathanna North: The ~6km long Bookathanna segment has received the most attention due to the identification of a ~km long thin outcropping gossan during initial exploration. 21 RC holes have been drilled here with nearly all holes either intersecting mineralisation, or not drilling deep enough to intersect the prospective keel position. The entire segment has been covered by fixed loop EM and it has two rounds of orientation IP survey, 4 lines crossing the dyke at each of the mineralised sections, and a long ~6km IP line run along the central spine of the intrusion. Modeling of the IP survey is currently underway. • High Range: The High Range is a graben of Edmund Basin sediments (as opposed to the granitic and gneissic rocks elsewhere) where the Money Intrusion thins significantly, sparsely outcrops and makes geophysical targeting complicated with abundant shales. • Lumpy’s: The ~5km long Lumpy’s section is the original location where outcropping mineralisation was identified by Alan McDonald in the 1960s. This segment contains abundant outcropping mineralisation and has only partially been covered by ground EM surveys. No other work has been undertaken in what is, by all means, the second most intensely mineralised section of the Money Intrusion based on outcrop mapping. This is a prime candidate for geophysical surveys. • Lumpy’s South: Given the largely undercover nature of the ~8km long Lumpy’s South segment, further exploration will be guided by geophysical techniques, either EM (Ground or airborne) and IP. • Money Intrusion South: Money Intrusion South is over ~27kms long (~50% of the Money Intrusion) and has only received initial first pass reconnaissance mapping back in 2021. The section contains variable outcrop, and some of the thickest portions of the Money Intrusion with abundant outcropping mineralisation identified over much of its strike. The airborne magnetic survey also identified several early highly prospective sections where the intrusion blows out, contains magnetic anomalies and splays. This section warrants significant attention of both mapping and geophysical surveys. Once all data has been received and processed, Dreadnought will undertake an internal review and targeting exercise incorporating all learnings and new interpretations for the Money Intrusion. Fertile Ni-Cu-Co-PGE sulphide systems are rare and Dreadnought continues to receive unsolicited interest from major mining companies regarding the project and expects to build on the success to date with another wellcredentialed party. dreadnoughtresources.com.au 7 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Figure 6: Plan view image of the ~45km long Money Intrusion highlighting the location of mapped outcropping sulphides and summarizing work completed to date along each section of the Intrusion. dreadnoughtresources.com.au 8 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Background on Mangaroon (E08/3274, E8/3178, E09/2384, E09/2433, E09/2473, E08/3275, E08/3439, E09/2290, E09/2359, E09/2370, E09/2405, E09/2448, E09/2449, E09/2450, E09/2467, E09/2478, E09/2531, E09/2535, E09/2616, M09/91, M09/146, M09/147, M09/174, M09/175: 100%) Mangaroon (Figure 7) covers >5,000kms2 of the Mangaroon Zone in the Gascoyne Region of Western Australia and is comprised of: - the ~45km long Money Intrusion which contains high tenor magmatic Ni-Cu-Co-PGE mineralisation. - the >10km long Mangaroon Au Shear Zone (100%) where fractured, small-scale ownership has limited previous gold exploration with only ~200m of the >10km having been drilled, notwithstanding the highgrade, camp scale potential. - the ~43km long Yin REE Ironstone Complex (100%) which already contains: an independent total 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); and an Exploration Target (ASX 13 Feb 2023) over 40 kms of strike. - the ~9km long REE-Nb-Ti-P-Sc C1-C5 carbonatites which contain an initial independent Inferred Resource of 10.84Mt @ 1.00% TREO at C3 (ASX 28 Aug 2023). Figure 7: Plan view map of Mangaroon showing the location of the First Quantum Minerals Earn-in and 100% Dreadnought ground (Mangaroon Au Shear Zone, Yin REE Ironstone Complex and REE-Nb-Ti-P-Sc C1-C5 carbonatites) in relation to major structures, geology and roads. dreadnoughtresources.com.au 9 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 For further information please refer to previous ASX announcements: • • • • • • • • • • • 25 November 2020 7 April 2021 14 February 2022 10 June 2022 30 August 2022 10 November 2022 24 March 2023 30 August 2023 31 August 2023 12 September 2023 20 September 2023 Mangaroon Ni-Cu-Co-PGE & Au Project Option/JV Agreement Signed with Global Base Metal Miner Conductors Defined Along the Money Intrusion Drilling Successfully Completed at Mangaroon Ni-Cu-Co-PGE Mangaroon Ni-Cu-Co-PGE Project advances to $15M Earn-In Exploration Update Mangaroon Ni-Cu-Co-PGE (FQM Earn-In) Five Strong EM Conductors at Mangaroon Ni-Cu-Co-PGE Project Drilling Commenced at Money Intrusion Ni-Cu-Co-PGE Massive and Disseminated Ni-Cu Sulphides Intersected Thick Ni-Cu Mineralisation over 400m, Open in all Directions High Grade Ni-Cu-Co-PGE Massive Sulphides Confirmed at Mangaroon UPCOMING NEWSFLOW March: Update on Ni-Cu-Co-PGE IP survey at Mangaroon (Earn-in) March: Results of camp scale stream sediment gold sampling program at Mangaroon (100%) March: Assays from RC and diamond drilling at Tarraji-Yampi (80%, 100%) March/April: Commencement of RC drilling at Central Yilgarn Au (100%) April: Quarterly Activities and Cashflow Report April/May: Commencement of target generation and definition work at Mangaroon Au (100%) April/May: Commencement of RC & diamond drilling at Mangaroon Ni-Cu-Co-PGE (Earn-in) May: Commencement of RC drilling at Mangaroon Au (100%) ~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. https://investorhub.dreadnoughtresources.com.au/link/8r6J5r dreadnoughtresources.com.au 10 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 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. Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. 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 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. dreadnoughtresources.com.au 11 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 INVESTMENT HIGHLIGHTS Kimberley Ni-Cu-Au Project (80/100%) The project is located only 85kms from Derby in the West Kimberley region of WA and was locked up as a Defence Reserve since 1978. The project has outcropping mineralisation and historic workings 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 and Tennant Creek. Mangaroon Au, Ni-Cu-Co-PGE and REE 100% Project Mangaroon covers ~5,000kms2 and is located 250kms south-east of Exmouth in the Gascoyne Region of WA. At the Money Intrusion, high tenor Ni-Cu-Co-3PGE massive sulphides have been discovered. Dreadnought also has areas of outcropping high-grade gold including the historic Star of Mangaroon and Diamonds gold mines. In addition, Mangaroon has emerged as a globally significant, rapidly growing, potential source of critical minerals. Highlights include: - An Exploration Target estimated for the top 150m of ~40km of the Yin REE Ironstone Complex (ASX 13 Feb 2023). - An independent Resource for Yin Ironstones Complex of 29.98Mt @ 1.04% TREO over only ~4.6kms – including a Measured and Indicated Resource of 26.3Mt @ 1.04% TREO (ASX 30 Nov 2023). - Regional source of rare earths at the Gifford Creek Carbonatite totaling ~17kms x ~1km (ASX 7 Aug 2023). - A large, independent initial Resource of 10.84Mt @ 1.00% TREO at the Gifford Creek Carbonatites, containing a range of critical minerals including rare earths, niobium, phosphate, titanium and scandium (ASX 28 Aug 2023). Bresnahan HREE-Au-U Project (100%) Bresnahan is located ~125km southwest of Newman in the Ashburton Basin. The project comprises ~4,000kms2 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, unconformity and channel-hosted uranium (“U”) deposits and mesothermal lode gold similar to Paulsens Au-Ag-Sb deposits along strike. Prior to consolidation by Dreadnought, the Bresnahan Basin had been successfully 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 (100%) Central Yilgarn is located ~190km northwest of Kalgoorlie in the Yilgarn Craton. The project comprises ~1,400kms2 covering ~150km of strike along the majority of the Illaara, Yerilgee, South Elvire and Evanston greenstone belts. Central Yilgarn is prospective for typical Archean mesothermal lode gold deposits, VMS base metals, komatiitehosted nickel sulphides and critical metals including Lithium-Cesium-Tantalum. Prior to consolidation by Dreadnought, the Central Yilgarn was predominantly held by iron ore explorers and remains highly prospective for iron ore. dreadnoughtresources.com.au 12 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Table 1: Significant Intersections >0.1% Ni or Cu with >1% Ni or Cu highlighted. Hole ID REYRC013 Incl REYRC014 incl REYRC015 REYRC016 REYRC018 incl REYRC019 incl REYRC025 and REYRC026 and REYRC027 From (m) 36 45 34 41 28 41 5 47 76 78 208 233 218 231 158 To (m) 59 47 56 48 58 65 58 48 86 80 216 234 219 232 163 Interval (m) 23 2 22 7 30 24 53 1 10 2 8 1 1 1 5 Ni (%) 0.50 3.32 0.18 0.30 0.10 0.16 0.15 0.29 0.36 1.15 0.16 0.13 0.10 0.09 0.14 Cu (%) 0.51 2.88 0.24 0.44 0.16 0.19 0.22 1.50 0.45 1.30 0.19 0.46 0.10 0.14 0.16 Co (%) 0.02 0.12 0.01 0.02 0.01 0.02 0.01 0.01 0.02 0.06 0.01