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 27 November 2024 Shallow, High-Grade, 84% Indicated Au Resource - Mangaroon (100%) HIGHLIGHTS • Initial independent JORC Code 2012 Mineral Resource Estimate (“Resource”) for the Star of Mangaroon delivers a high confidence Resource with ~84% in the Indicated category. The Resource sits on a mining lease with minimal production permits required. The Resource is considered amenable to open pit mining and remains open at depth and along strike. • The Resource contains shallow, high-grade gold as defined in Table 1 below: Table 1: Resource Estimate (2g/t Au cut-off grade) - Numbers may not add up due to rounding. Type Transition Fresh Total 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 23,300 • This initial Resource is a major milestone in the Company’s strategy to become a self-funded explorer and will form the foundation for an open pit scoping study that is currently underway and expected to be completed in the March 2025 quarter. • Commercial discussions to outsource funding, development, haulage and processing are also underway and expected to be finalised during the June 2025 quarter. Dreadnought Resources Limited (“Dreadnought”) is pleased to announce an initial independent, shallow, high-grade Resource for the Star of Mangaroon gold deposit, part of the 100% owned Mangaroon project, located in the Gascoyne Region of WA. Dreadnought’s Managing Director, Dean Tuck, commented: “We are pleased that the Star of Mangaroon has delivered a high-grade Resource that supports the prospects for commercialisation. High grades, near surface and with exceptionally high metallurgical recoveries make the Star of Mangaroon a strong foundation for our self-funded explorer strategy. Over the next 12 months, Dreadnought will be focused on bringing the Star of Mangaroon into production and producing cashflow while outsourcing funding, development, haulage & processing to third parties. In parallel with this focus on development, will be delivering additional mineable ounces from our other advanced prospects also located on mining leases while building a pipeline of high-grade gold targets for drill testing in 2025.” Figure 1: Image of panned gold from SOMRC004 16-17m which assayed 19.8g/t Au. Field of view ~5cm. ASX:DRE Dreadnought Resources Ltd 1 Discussion The Star of Mangaroon gold mine was discovered in 1956 by the local pastoralist, Allan McDonald. The mine is the largest historic gold producer in the Gascoyne and between 1960 and 1983 produced 7,464 oz @ 34.8 g/t Au1. Most of the gold came from underground with the lowest extraction level ~90m below surface. The Star of Mangaroon has seen little exploration since its discovery. Prior to Dreadnought’s acquisition in 2022, ~34 holes for ~1,382m were drilled within the Star of Mangaroon mining lease. Since acquisition, Dreadnought has drilled 47 RC holes for 4,794m (including at the Popeye prospect located within the same mining lease) and 6 diamond holes for 457.1m. The Star of Mangaroon Resource of 23,300oz @ 12.8g/t Au (84% Indicated) is contained within ~110m of surface and does not include mineralisation intersected at depth, along strike or at Popeye which is also located on the same mining lease. This initial Resource provides a strong foundation for Dreadnought’s self-funded explorer strategy with a scoping study now underway for a potential high-grade open pit where funding, development, haulage & processing are outsourced to third parties. This is a common model in WA given the robust gold price. Once successful, this model may be extended to Popeye, Two Peaks, Lead, Pritchard Well, etc. In this way, there is reduced reliance on market funding and internal cashflows are aimed at making life-changing discoveries. Figure 2: Long Section from Popeye through the Star of Mangaroon showing the location of historic and recent drilling highlighting the lack of drilling along strike and at depth within the Star of Mangaroon mining lease. Dreadnought’s planned transition to self-funded explorer Star of Mangaroon Open Pit Additional Resource Drilling Gold Exploration 1 Dec 2024 Quarter Mar 2025 Quarter Jun 2025 Quarter Resource Scoping Study Mining, Haul, Process Agreement Sep 2025 Quarter Dec 2025 Quarter Approvals and Commencement of Production Granted Mining Leases including: Star of Mangaroon underground, Popeye, Pritchards, Lead Target Generation Bordah and High Range Target Definition Bordah and High Range Exploration Drilling Prime Minerals Annual Report 2008, WAMEX Report A79994 ASX:DRE Dreadnought Resources Ltd 2 Material Information Summary – Resource Estimation Pursuant to ASX listing rule 5.8.1 and complementing JORC Table 1 (attached), Dreadnought advises that the Resource was estimated by an independent consultant from Payne Geological Services Pty Ltd (“PayneGeo”) in conjunction with Dreadnought’s geologists. Commentary on the relevant input parameters for the Resource process is contained at the end of this announcement. Location and Region The Star of Mangaroon is located within Dreadnought’s Mangaroon project located ~250kms south-east of Exmouth, in the Gascoyne Region of Western Australia. Figure 3: Location of the Star of Mangaroon within the wider Mangaroon project in relation to major towns and gold operations in Western Australia. ASX:DRE Dreadnought Resources Ltd 3 Geological Interpretation Mangaroon occurs within the Gascoyne Province of the Capricorn Orogen, situated between the Archean Pilbara and Yilgarn cratons. The Gascoyne Province consists of a basement suite of Neoarchean to Palaeoproterozoic granite gneisses that are overlain by various Proterozoic rocks. These Proterozoic rocks include: • the 1830–1780 Ma Moorarie Supersuite consisting of granitic rocks; • the Durlacher Supersuite, a unit comprising granitic and minor gabbroic intrusions that are heavily deformed and believed to be largely synchronous with the 1680-1620 Ma Mangaroon Orogeny; and • the c.1680 Ma Pooranoo Metamorphics comprising of pelitic gneiss and metamorphosed feldspathic sandstones. The host sequence of the Star of Mangaroon gold deposit consists mainly of two metamorphosed Proterozoic gneisses. The hanging-wall sequence consists of variably magnetic quartz-cordierite-muscovite paragneiss of the Pooranoo Metamorphics, which were occasionally intruded by <5m wide vertical garnet-muscovite rich pegmatites. The footwall sequence consists of homogeneous quartz dominant orthogneiss. At Star of Mangaroon, the principal goldbearing horizon consists of a quartzite unit, with a strike of roughly 010° dipping to the east at ~60°. The gold-bearing lode is ~110m long and 2 to 10m thick and defined over a dip length of 120m, hosted in a N-S trending foliation. Petrographic analysis of hand specimens and diamond core, suggests the mineralisation at Star of Mangaroon is hosted in a proto-sedimentary quartzite, consisting of quartz-muscovite-plagioclasebiotite assemblage with accessory tourmaline-apatite-garnet. Geochemical pathfinders for the gold mineralisation observable in orientation soil surveys and whole rock geochemistry include Te, Sb, Bi, & As, as well as elevated Ag, Cu, Pb. Retrogressive alteration weakly modified all rocks at a later time, in response to infiltration by Au-bearing aqueous fluid at relatively low P-T conditions of the greenschist facies. This produced finegrained selective pervasive alteration minerals (sericite, chlorite, pyrrhotite, sphalerite, tennantite, biotite, native gold). Plagioclase was partly to completely replaced by sericite, chlorite, zoisite, biotite, sulfides (pyrrhotite, sphalerite, tennantite), and native gold. The close physical association between sericite and native gold after plagioclase provides good textural evidence for timing of gold mineralisation. Cordierite was partly replaced by fine-grained sericite + chlorite + garnet. Biotite was partly replaced by sericite, biotite, chlorite, ilmenite and titanite. ASX:DRE Figure 4: Combined transmitted and reflected light micrographs of free gold from the Star of Mangaroon (by Mason Geoscience Pty Ltd, 2024) Dreadnought Resources Ltd 4 Mineralisation Interpretation Gold mineralisation was confined to an interpreted quartzite horizon located at the contact of the hangingwall paragneiss with the footwall orthogneiss. The quartzite is not fully mineralised and the Resource was defined within the quartzite using a 0.2g/t Au cut-off. This resulted in the interpretation of a single mineralised structure varying from 2m to 10m in thickness. Several drill holes intersected a void within the mineralisation. These void intersections were used in conjunction with the surveyed surface extent of the main workings to create a three-dimensional model of the historic main lode stope at the deposit. The stope shape was used to deplete the model to account for historic mining. Weathering at the deposit is limited to a zone of transitional material extending up to 15m below surface. The majority of the mineralisation is within fresh rock. Figure 5: Geological wireframes for the Star of Mangaroon deposit showing drill traces. The modelled lode is in blue and mining void as estimated from drilling and historical stope maps in red. Drilling Techniques The project database contains records for 56 historic holes and 52 recent holes completed by Dreadnought in 2023 and 2024. However, no historic drilling was used to estimate the Resource due to uncertainties in location, lack of down hole surveys and unknown sample quality. In total, 20 RC and 4 diamond holes have been used to estimate the Resource. The drilling has resulted in a relatively even spread of intersections throughout the Resource at spacings of 20-25m. All holes used in the Resource have been previously announced with the necessary collar and assay details provided. These holes are also shown in Tables 5 and 6. RC holes were drilled with a 5¾-inch or 5½-inch bit and face sampling hammer. RC holes are drilled with some water injection at the bit for dust suppression and with the use of booster/auxiliary air if ground water is encountered. Diamond holes were drilled as orientated HQ3 size with no RC pre-collars. Collar positions were recorded using a Emlid Reach RS2 RTK GPS system (+/- 0.2m x/y, +/-0.5m z). GDA94 Z50s is the grid format for all xyz data reported. Azimuth and dip of each drill hole were recorded by Ausdrill and Hagstrom after the completion of the hole using a Reflex Sprint IQ Gyro. A reading was undertaken every 30th metre with an accuracy of +/- 1° azimuth and +/-0.3° dip. Azimuth and dip of the drill hole was recorded by Topdrill after the completion of the hole using an Axis Champ North-seeking Gyro. A reading was undertaken every 10th metre with an accuracy of +/- 0.5° azimuth and +/-0.15° dip. ASX:DRE Dreadnought Resources Ltd 5 Sampling and Subsampling Techniques For the Resource drilling, RC samples were collected in 1m intervals directly from the rig sampling system. From every 1m drilled, a 2-3kg sample (split) was sub-sampled into a calico bag via a Metzke cone splitter. All remaining spoil from the sampling system was collected in buckets and deposited in rows adjacent to the rig. Orientated diamond core samples were collected with a diamond drill rig drilling HQ3 core. After geological logging and processing, the core was marked up for sampling at a typical minimum interval of 0.2m to ensure adequate sample weight and to a typical maximum interval of 1.0m. The selected sample intervals of drill core were cut in half or quartered along the length of the drill core. Sample sizes for both RC and diamond are considered appropriate for the style of mineralisation. Assaying and QAQC Samples were submitted to the ALS Perth laboratory for preparation and analysis of gold by Photon Assay and for 48 additional elements using a four-acid digest and ICP mass spectrometry. The 2-3kg samples were oven dried to 105°C and crushed to >90% passing 3mm to produce a 500g charge for determination of gold Photon Assay from crushed sample (ALS Method Au-PA01). Additional material is then pulverised to 85% passing 75um to produce a 0.25g charge for determination of 48 multielements via 4 acid digestion with MS/ICP finish (ALS Code ME-MS61). QAQC in the form of duplicates and CRM’s (OREAS Standards) were inserted through the mineralised zones at a rate of 1:50 samples. Additionally, within mineralised zones, a duplicate sample was taken and a blank inserted directly after. All QAQC returned satisfactory results. Standard laboratory QAQC is undertaken and monitored. 14 samples were sent to Intertek for PhotonAssay (PAAU02) for 3rd party lab verification of ALS assay results. All verified assay results were within an acceptable range. Estimation Methodology Mineralisation interpretations were prepared using 0.2g/t Au envelopes. This was based on statistical analysis and visual examination of intersections suggesting a natural cut-off to the mineralisation of 0.2g/t Au. The wireframes were used as hard boundaries to all grade estimation. The deposit was estimated using ordinary kriging (“OK”) grade interpolation of 1m composited data within the mineralisation wireframe. A high-grade cut of 70g/t was applied to gold. Only gold was estimated. Interpolation parameters were based on the geometry of the mineralised zone and geostatistical parameters determined by variography. Search ranges of 30m with a minimum of 6 samples and maximum of 12 samples were used for grade estimation. These were expanded as required to allow interpolation in areas of sparse drilling. The block dimensions used in the model were 10m NS by 2m EW by 10m vertical with sub-cells of 2.5m x 0.5m x 2.5m. The parent block size is ~50% of the average drill hole spacing in the more intensely drilled part of the deposit. Density determinations were available for fresh rock from the Dreadnought drill core and derived a density of 2.70t/m3 in fresh rock. An assumed density of 2.5t/m3 was applied to the small amount of transitional mineralisation. Figure 6: Long Section view showing the drill hole traces and grade distribution. ASX:DRE Dreadnought Resources Ltd 6 Cut-off Grade The reporting cut-off grade of 2.0g/t Au was derived considering the potential for open pit mining of the upper portion of the deposit with substantial haulage to a toll milling facility. This potential for eventual economic extraction has been confirmed by early-stage studies using typical industry costs for haulage and third-party processing. As mining studies are developed and the mining scenario is clarified, the cut-off grade will be modified accordingly. Resource Classification The Resource has been classified in the Indicated and Inferred categories, in accordance with the 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves (“2012 JORC Code’). The mineralisation is constrained within a clearly defined horizon that can be identified in all drill holes in the deposit. This, coupled with the observations in surface workings, confirms the continuity of the host geology. The high-quality drilling and sampling has provided intersections at spacings of 20-25m through the high-grade portion of the Resource allowing that portion to be classified as Indicated. The parts of the Resource defined by drilling at greater than 25m spacings or where grade continuity could not be reasonably assumed have been classified as Inferred. Figure 7: Long Section view showing the drill hole traces and Resource classifications. Indicated in green, Inferred in blue and undefined (due to interpreted mining voids) in pink. Metallurgy Excellent metallurgical characteristics have been demonstrated in a recent test work program. The metallurgical program assessed conventional gravity and CIL gold recovery at a range of grind sizes. The results confirm that exceptional gold recoveries are achieved using conventional gravity and CIL processing with total gold recovery of 97-99% and gravity gold recovery of 74%. Further information regarding metallurgical results can be found in previous announcement: • DRE Announcement 14 October 2024: Exceptional Gold Recoveries from Star of Mangaroon. ASX:DRE Dreadnought Resources Ltd 7 Resource Estimate A summary of the initial Resource of 56,700t @ 12.8 g/t Au for 23,300oz is shown below. The Resource has been estimated at a cut-of grade of 2g/t Au, has been depleted for known historic underground workings and lies above 110m vertical depth. Table 2: Resource (2g/t Au cut-off grade) - Numbers may not add up due to rounding. Type Transition Fresh Total Indicated Tonnes 1,900 42,500 44,400 Au (g/t) 26.9 13.0 13.6 Inferred Au (Oz) 1,670 17,800 19,500 Total Tonnes Au (g/t) Au (Oz) 12,200 12,200 9.8 9.8 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 23,300 Figure 8: Star of Mangaroon grade/tonnage curve. Future Work The Resource will form the basis of a scoping study. The Resource sits on a mining lease with minimal production permits required. The Resource is considered amenable to open pit mining and remains open at depth and along strike. Figure 9: RC Rig drilling at the Star of Mangaroon. ASX:DRE Dreadnought Resources Ltd 8 Snapshot – Mangaroon Gold (100%) Mangaroon Gold is 100% Owned by Dreadnought • Mangaroon covers >5,300kms2 with an initial focus on the ~15km x 10km gold system situated over the Mangaroon Shear Zone between the crustal scale Minga Bar and Edmund Faults with multiple phases of intrusions. Numerous historical workings along the Mangaroon Shear Zone have only seen limited, shallow drilling along ~200m of strike near the Star of Mangaroon mine. Self-Funded Explorer Strategy • Dreadnought’s strategy is to transform into a self-funded explorer. This involves a potential high-grade open pit at the Star of Mangaroon where funding, development, haulage & processing are outsourced to third parties. This is a common model in WA given the robust gold price. Once successful, extend this model to Popeye, Two Peaks, Lead, Pritchard Well, etc. In this way, there is reduced reliance on market funding and internal cashflows are aimed at making life changing discoveries. Consolidation Provides for First Ever Modern Exploration • All historical workings and known gold occurrences relate to outcropping mineralisation. There has been minimal historical and modern exploration due to fractured, small-scale ownership with Dreadnought now undertaking modern exploration for the first time. Significant, Step-change, Growth Potential • Five historical mines developed on outcropping mineralisation and dozens of gold occurrences along highly prospective structural corridors. • Dreadnought is deploying modern geochemical and geophysical techniques to explore for mineralisation under shallow cover. These techniques have already generated new prospects with stronger and larger signatures than the historical mines, including the region’s largest high-grade producer at the Star of Mangaroon mine. • Project-wide stream sediment sampling and geophysical surveys have identified additional camp scale prospects at Bordah and High Range. Shallow, High-grade Gold • The Resource contains shallow, high-grade gold as defined in Table 1 below: Table 1: Resource (2g/t Au cut-off grade) - Numbers may not add up due to rounding. Type Transition Fresh Total • 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 23,300 Popeye, located <1km from the Star of Mangaroon, contains significant shallow high-grade gold intersections including: POPRC001: 3m @ 22.8 g/t Au from 13m POPRC002: 1m @ 1.6 g/t Au, 15.5g/t Ag from 11m Exceptional Metallurgical Recoveries • The region is known for its free gold. Accordingly, recent metallurgical work at Star of Mangaroon produced exceptional recoveries from standard gravity and carbon in leach circuits averaging 96.7% combined recovery including an average 74.4% gravity recovery (ASX.DRE 14 October 2024). ASX:DRE Dreadnought Resources Ltd 9 Background on Mangaroon (E8/3178, E08/3229, E08/3274, E08/3275, E08/3439, E09/2290, E09/2359, E09/2370, E09/2384, E09/2405, E09/2422, E09/2433, E09/2448, E09/2449, E09/2450, E09/2467, E09/2473, E09/2478, E09/2535, E09/2616, M09/91, M09/146, M09/147, M09/174, M09/175: 100%) Mangaroon (Figure 10) covers >5,300kms2 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. • ~10km x 15km Mangaroon Gold Camp (Au, Cu-Zn-Ag-Au): where fractured, small-scale ownership has limited previous gold exploration with only ~200m of the >12km long Mangaroon Shear Zone having been drilled. • ~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 and an initial independent Inferred Resource of 10.84Mt @ 1.00% TREO at C3 (ASX 28 Aug 2023). Figure 10: Plan view map of Dreadnought’s 100% owned Mangaroon projects: the >45km long Money Intrusion (Ni-Cu-CoPGE); the ~10km x 15km Mangaroon gold camp (Cu-Zn-Ag-Au); Yin Ironstone Complex (REE) and the Gifford Creek Carbonatites (REE-Nb-Ti-P-Sc) in relation to major structures, geology and roads. ASX:DRE Dreadnought Resources Ltd 10 Upcoming Newsflow 28 November: Annual General Meeting December 2024: Results from EIS co-funded IP surveys at Tarraji-Yampi (80%/100%) December 2024: Results of further target generation and definition work at Mangaroon Au (100%) December 2024: Results of target generation and definition work at Bordah – Mangaroon Au and Cu (100%) March Quarter 2025: Commencement of gold drilling at Mangaroon Au (100%) March Quarter 2025: Commencement of target generation and definition at Mangaroon Au (100%) March Quarter 2025: Delivery of Star of Mangaroon Scoping Study June Quarter 2025: Delivery of Mining, Haulage and Processing Agreement for Star of Mangaroon September/December Quarter 2025: Mining Approvals and Commencement of production from Star of Mangaroon For further information please refer to previous ASX announcements: • • • • • • • • • • • • • • • • • 25 November 2020 15 March 2021 7 April 2021 17 May 2021 12 September 2022 7 June 2023 4 September 2023 1 November 2023 11 December 2023 22 January 2024 12 February 2024 13 March 2024 26 July 2024 26 July 2024 1 October 2024 14 October 2024 6 November 2024 Mangaroon Ni-Cu-PGE & Au Project Exploration Commences at Mangaroon Ni-Cu-PGE & Au Project Option/JV Agreement Signed with Global Base Metal Miner Update on Mangaroon Ni-Cu-PGE & Au Project Star of Mangaroon Acquisition & Consolidation Mangaroon Gold Review and Further Consolidation Outstanding Gold Opportunities Along >10km Mangaroon Shear Zone Gold Drilling Commenced at Star of Mangaroon Thick, High-Grade Gold Including 7m @ 23.0g/t Au Star of Mangaroon Extended Star of Mangaroon Camp Scale Prospect Continues to Expand Star of Mangaroon Camp Scale Gold Prospect Expands to ~15km x 10km Strategic & Prospective Consolidation Consolidation, Growth & Commercialisation Shallow, High-Grades at Star of Mangaroon & Popeye Exceptional Gold Recoveries from Star of Mangaroon High-Grade from Star of Mangaroon ~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 11 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. Resource Classification Geology Measured Oxide Measured Fresh Measured Subtotal Indicated Oxide Indicated Fresh Indicated Subtotal Inferred Oxide Inferred Fresh Inferred Subtotal Total Oxide Total Fresh TOTAL Resource (Mt) 2.47 2.70 5.17 13.46 7.67 21.13 1.51 2.17 3.68 17.44 12.54 29.98 TREO (%) 1.61 1.09 1.34 1.06 0.95 1.02 0.75 0.75 0.75 1.11 0.95 1.04 Nd2O3+Pr6O11 (kg/t) 4.6 3.0 3.8 3.1 2.8 3.0 1.9 2.1 2.0 3.2 2.7 2.9 NdPr:TREO Ratio (%) 29 27 28 29 29 29 25 28 27 29 29 29 Contained TREO (t) 39,700 29,500 69,300 142,600 72,800 215,400 11,200 16,300 27,600 193,600 118,700 312,300 Contained Nd2O3+Pr6O11 (t) 11,400 8,100 19,500 41,000 21,300 62,300 2,800 4,500 7,300 55,300 33,900 89,300 Gifford Creek Carbonatite – Inferred Resource Table 4: Summary of the Gifford Creek Carbonatite Inferred Resource at various % TREO Cut-offs. Cut-Off (%TREO) 0.90 0.70 0.50 0.30 ASX:DRE 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 Dreadnought Resources Ltd 12 Investment Highlights Mangaroon Au, Nb-REE, Ni-Cu-PGE Project (100%) Mangaroon covers ~5,300kms2 and is located 250kms south-east of Exmouth in the Gascoyne Region of WA. At Mangaroon, Dreadnought has consolidated areas of outcropping high-grade gold and historical high grade gold mines including the historic Star of Mangaroon and Diamond gold mines. Exploration at the Money Intrusion has identified high tenor Ni-Cu-PGE sulphides. In addition, Mangaroon has emerged as a globally significant, rapidly growing, potential source of critical minerals. Highlights include: • 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). • Discovery of the globally significant, Nb-REE-P-Ti-Sc enriched Gifford Creek Carbonatite (ASX 7 Aug 2023). • A large