Announcement PDF Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 8345 9473 8345 +61 (08) 9473 info@dreres.com.au info@dreres.com.au www.dreadnoughtresources.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ASX ANNOUNCEMENT 29 April 2025 31 March 2025 Quarterly Activities Report The Board of Dreadnought Resources Ltd (ASX:DRE) (“Dreadnought” or “the Company”) is pleased to provide a summary of activities for the quarter ended 31 March 2025. OVERVIEW OF ACTIVITIES (all figures in A$ unless otherwise stated) The Company made significant inroads on its Finding More Gold, Faster strategy which included: • Releasing a robust scoping study for the Star of Mangaroon (ASX: 28 Jan 2025). • Consolidating further ground at Mangaroon by acquiring E09/2383, E09/2479, M09/63, E09/2195 and L09/27 which have significant high-grade gold/base metal potential (ASX: 30 Jan 2025, ASX: 19 Mar 2025 and ASX: 25 Mar 2025). • Extending the high-grade gold lode at Steve’s Reward by ~700m to ~1,000m at Mangaroon (ASX: 18 Mar 2025). • Strengthening the balance sheet by securing substantial funding for the advancement of Mangaroon and Illaara gold: o Completing a placement for $3.1M from sophisticated investors and directors (ASX: 5 Feb 2025); o Receiving firm commitments of $8.5M from sophisticated investors (ASX: 28 Mar 2025) with Tranche 1of the placement completed for $6.1M (ASX: 4 Apr 2025) and the balance, Tranche 2, being subject to shareholder approval at the upcoming general meeting; and o Completing a share purchase plan at the same price as the March Placement, raising $1.7M (ASX: 17 Apr 2025). o Entering into a subscription agreement for $1M with Black Cat Syndicate Ltd (“Black Cat”) to secure the right to negotiate and agree on the terms of the development of the Star of Mangaroon (ASX: 3 Feb 2025). Black Cat also subscribed for a further $1M as part of the $8.5M placement (ASX: 28 Mar 2025). • Divesting non-core assets by completing the transaction with Catalina Resources Ltd (ASX: 29 Jan 2025). • Estimating a JORC Exploration Target for the Stinger Niobium deposit (ASX: 3 Mar 2025). • Being awarded an Exploration Incentive Scheme co funded drilling grant for $120,000 towards first pass RC drilling of the Inevitable Cu-Au target. (ASX: 28 Apr 2025). Strategy Update – Finding More Gold, Faster With a stronger balance sheet, Dreadnought is well positioned to find more gold, faster by bringing forward exploration activities that could deliver significant discoveries. Dreadnought also continues to focus on developing the high-grade Star of Mangaroon and deposits on nearby mining leases. ASX:DRE Dreadnought Resources Ltd 1 1 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 8345 9473 8345 +61 (08) 9473 info@dreres.com.au info@dreres.com.au www.dreadnoughtresources.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 CORPORATE: Corporate activities for the quarter included: Mangaroon Au: Acquisition of exploration tenement E09/2383 from an unrelated party, key terms include: • $50,000; • Issue of 3,333,333 fully paid ordinary shares valued at $50,000 based on a 5-day VWAP at Completion of $0.015 per share; and • 1% net smelter return royalty. (Completion took place on 30 January 2025.) Acquisition of exploration tenement E09/2479 from an unrelated party, key terms include: • • $100,000; Issue of 30,769,231 fully paid ordinary shares valued at $400,000 based on a 5-day VWAP at Completion of $0.013 per share, escrowed for 12 months until 24/04/2026. • 1% net smelter return royalty. (Completion took place on 24 April 2025.) Acquisition of the following tenements: M09/63, E09/2195 and L09/27 from an unrelated party, key terms include: • • $200,000; Issue of equivalent fully paid ordinary shares valued at $200,000 based on a 5-day VWAP at Completion, escrowed for 12 months; and • 1% net smelter return royalty. (Completion is pending.) Issue of Shares: • 3,333,333 shares at $0.015 per share as part consideration for the acquisition of tenement E09/2383 on 30 January 2025. • 66,667 shares upon the exercise of options at $0.075 per share on 12 February 2025. • 288,000,000 shares at $0.01 in relation to the $3.1M placement on 12 February 2025. • 100,000,000 shares at $0.01 in relation to the Black Cat subscription agreement on 12 February 2025. Non-Cash Director Fees: Shareholders approved directors to receive options in lieu of fees for the 15-month period from 1 September 2024 to 30 November 2025. A total of 3,561,666 options, exercisable at $0.024 per share, were awarded to directors on 13 March 2025 in lieu of director fees for the period 1 December 2024 to 28 February 2025. Employees Incentives: 3,000,000 options expiring on 14 July 2025, exercisable at $0.065 per share lapsed on 14 March 2025. ASX:DRE Dreadnought Resources Ltd 2 2 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 8345 9473 8345 +61 (08) 9473 info@dreres.com.au info@dreres.com.au www.dreadnoughtresources.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 GOLD MANGAROON (100%) The Company is focused on gold. Mangaroon hosts many historical alluvial and shallow hard rock mines, five of which are located on mining leases with minimal barriers to production. Advanced prospects include the Star of Mangaroon where a robust scoping study was announced for 23,300 oz at 12.8 g/t Au (ASX: 28 Jan 2025). The Study economic case generates an Operating Cashflow of ~$40M ($4,100/oz) over one year at an AISC of $1,800/oz. The gold sector is strong with the current spot price above $5,000/oz. At then indicative forward prices of ~$4,600oz an Operating Cashflow of ~$50M. This reflects an Operating Cashflow change of ~$1.9M for each $100 of gold price movement. This lays the foundation for the Company to transform into a self-funded explorer by: • Outsourcing the funding, development, haulage & processing of the high-grade open pit at the Star of Mangaroon to generate a positive cash flow. • Growing the Resource by adding shallow, near-term production ounces through extending the Star of Mangaroon and adding Popeye, located on the same mining lease. • Extending this model to Two Peaks, Lead Gold Mine and Pritchard Well to reduce reliance on market funding through internal cash flows. • Deploying funds to high-ranking greenfield exploration targets to enable making a significant discovery. Figure 1 Long Section from Popeye through the Star of Mangaroon showing the location of historic and recent drilling highlighting the significant intercepts that are outside the current Resource and scoping study. Drilling was conducted at Star of Mangaroon and Popeye in early April 2025 (ASX: 3 Apr 2025) and was followed by drilling at Pritchard’s, Two Peaks and the Lead Gold Mine. Results are expected in May 2025. ASX:DRE Dreadnought Resources Ltd 3 3 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 8345 9473 8345 +61 (08) 9473 info@dreres.com.au info@dreres.com.au www.dreadnoughtresources.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 Significant, Step-change, Growth Potential • We are now well funded to deliver extensive exploration programs with the potential to deliver significant life-changing gold discoveries. • Five historical mines were developed on outcropping mineralisation and there are dozens of gold occurrences along these 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. • Targets include the major camp-scale targets like Bordah and High Range, as well as the more recently acquired tenements across the Minga Bar fault. Figure 2 Plan view image of a portion of Mangaroon highlighting the main gold and base metal camp-scale prospects/trends which are the focus of ongoing target generation and definition work. ASX:DRE Dreadnought Resources Ltd 4 4 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 8345 9473 8345 +61 (08) 9473 info@dreres.com.au info@dreres.com.au www.dreadnoughtresources.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ILLAARA (100%) Illaara covers ~800km2 in the Yilgarn region of Western Australia and hosts the high grade Metze’s Find deposit, 14.9k oz @ 6.8g.t Au (ASX 27 Apr 2023). The project is in the proximty of the Mt Ida Gold Mill (Aurenne) and the Davyhurst Mill (Ora Banda), the local town of Menzies, the major centres of Leonora and Kalgoorlie, and is serviced by the sealed Goldfields Highway and well-developed shire roads. Figure 3: Plan view of Illaara showing nearby mines and basement geology. ASX:DRE Dreadnought Resources Ltd 5 5 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 8345 9473 8345 +61 (08) 9473 info@dreres.com.au info@dreres.com.au www.dreadnoughtresources.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 NIOBIUM-RARE EARTHS (100%) Mangaroon REE is a globally significant critical minerals complex with a combined Resource at Yin and the Gifford Creek Carbonatite of 40.82Mt @ 1.03% TREO. Yin (REE) The Yin Resource of 29.98Mt @ 1.04% TREO (ASX 30 Nov 2023) is 87% Measured and Indicated. This Resource boasts higher NdPr to total rare earth oxides ration than most REE deposits and >50% higher than the global average. The Resource is 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). The Company aims to minimise costs and maximise readiness for a turnaraound in REE market sentiments. Figure 4: Location map of Dreadnought’s 100% owned Mangaroon (~4,500kms2 of the Mangaroon Zone in the Gascoyne Region) in relation to other Nb-REE projects within Western Australia and major infrastructure. ASX:DRE Dreadnought Resources Ltd 6 6 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 8345 9473 8345 +61 (08) 9473 info@dreres.com.au info@dreres.com.au www.dreadnoughtresources.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 Gifford Creek Carbonatite (REE) The Gifford Creek Carbonatite has significant critical metal potential and is one of the largest carbonatite complexes in the world, stretching 17km. Wide spaced drilling over ~25% of the area has identified multiple zones of critical metals (REE, niobium, titanium, phosphate and scandium). The carbonatite hosts an initial independent Inferred Resource of 10.84Mt @ 1.00% TREO at C3 (ASX 28 Aug 2023). In addition, a 1.2km fresh zone of Nb mineralisation at Stinger has been identified and remains open in all directions (ASX: 3 Mar 2025). Mineralogical test work confirms pyrochlore (a key niobium-bearing mineral) mineralisation at Stinger. The Company is presently seeking to identify an appropriate joint venture funding partner, preferably one already in the steel industry (iron ore, coal, steel). Once a funding partner is in place, next steps to unlock the niobium potential include: • Conducting additional drilling to define an oxide Resource; • Utilising EIS co-funded drilling to test fresh mineralisation at depth; and • Continuing the mineralogical work to support metallurgical testing. Beyond niobium and rare earths already identified, there is also the potential of significant titanium, scandium, zirconium and phosphate. Figure 5: Location of significant niobium mineralisation within the limited extent of drilling at the Gifford Creek Carbonatite. ASX:DRE Dreadnought Resources Ltd 7 7 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 8345 9473 8345 +61 (08) 9473 info@dreres.com.au info@dreres.com.au www.dreadnoughtresources.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 OTHER PROJECTS The status of other projects is outlined below: MANGAROON Ni-Cu-Co-PGE (100%) Mangaroon hosts known Ni-Cu-Co-PGE sulphides along the >45km long Money Intrusion and an IP survey has confirmed the geophysical signatures of a significant new mineralised system. This system contains high tenor magmatic Ni-Cu-Co-PGE. We remain in discussions with a prospective funding partner. TARRAJI-YAMPI (80% / 100%) The Orion Cu-Au massive sulphide discovery in 2021 and the project hosts outcropping Cu-Au mineralisation. A strategic review is underway on this highly prospective ground. We also remain open to partnering with interested parties. BRESNAHAN (100%) The Company has partnered with Teck Resources Ltd to unlock the potential of on a key tenement in this project (ASX 24 Dec 2024). Discussions are ongoing in respect of the remaining project area. ASX:DRE Dreadnought Resources Ltd 8 8 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 8345 9473 8345 +61 (08) 9473 info@dreres.com.au info@dreres.com.au www.dreadnoughtresources.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 OTHER DISCLOSURES ASX ANNOUNCEMENTS During the quarter, the Company made the following ASX announcements, 14 of which were market sensitive: 28/03/2025 28/03/2025 28/03/2025 28/03/2025 26/03/2025 25/03/2025 25/03/2025 19/03/2025 18/03/2025 18/03/2025 14/03/2025 14/03/2025 14/03/2025 07/03/2025 03/03/2025 24/02/2025 13/02/2025 12/02/2025 05/02/2025 05/02/2025 05/02/2025 05/02/2025 03/02/2025 03/02/2025 March 2025 Webinar Invitation to Shareholders Finding More Gold, Faster Proposed issue of securities x 3 - DRE Successful Capital Raising. Find More Gold, Faster Trading Halt Proposed issue of securities - DRE Further Gold Ground Consolidated at Mangaroon Further Gold Ground Consolidated at Mangaroon Ceasing to be a substantial holder of CTN (dilution) High Grade Gold Lode Extended – Mangaroon 100% Change in Director’s Interest Notice Notification of cessation of securities - DRE Notification regarding unquoted securities - DRE Half Yearly Report and Accounts – 31 December 2024 Stinger Niobium Exploration Target February 2025 Response to ASX Price Query Appointment of Joint Company Secretary Application for quotation of securities x 3 – DRE and Cleansing Notice Webinar Invitation to Shareholders Transitioning to Self-Funded Exploration - Presentation Proposed issue of securities x 3 - DRE $4.1M Funding to Advance Star of Mangaroon Trading Halt Subscription Agreement for $1M with Black Cat Syndicate Ltd Janaury 2025 31/01/2025 Quarterly Cashflow Report & Quarterly Activities Report – September 2024 31/01/2025 Application for quotation of securities – DRE and Cleansing Notice 31/01/2025 Proposed issue of securities – DRE 30/01/2025 29/01/2025 29/01/2025 28/01/2025 Further Consolidation and high-grade Gold at Mangaroon CTN: Becoming a substantial holder from DRE CTN: Completion of Acquisition of Yerilgee and Evanston Robust Scoping Study for Star of Mangaroon ASX:DRE Dreadnought Resources Ltd 9 9 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 8345 9473 8345 +61 (08) 9473 info@dreres.com.au info@dreres.com.au www.dreadnoughtresources.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 APPENDIX 5B DISCLOSURES The accompanying Appendix 5B (Quarterly Cashflow Report) shows Directors’ remuneration (including superannuation) of $57k (Item 6.1) and $72k (Item 6.2), the amounts apportioned between corporate and exploration. During the period, the Company spent $884k on exploration and study activities. The expenditure represents direct costs associated with the various studies, surveys, drilling programs and associated assays outlined in this report. CAPITAL STRUCTURE (as at 31 March 2025) Quoted Securities Fully Paid Ordinary Shares 4,159,200,000 Unquoted Securities Options @ $0.065 expiring 14/07/2025 Options @ $0.094 expiring 9/10/2025 Options @ $0.1575 expiring 16/12/2025 Options @ $0.12 expiring 02/03/2026 Options @ $0.075 expiring 14/06/2026 Options @ $0.0225 expiring 29/11/2028 Options @$0.024 expiring 28/02/2029 Performance Rights (Class D, E & G) expiring 31/12/2025 Performance Rights (Class H & I) expiring 31/12/2025 Performance Rights expiring (Class J) 31/12/2026 Performance Rights expiring (Class K) 31/12/2027 3,500,000 6,000,000 853,098 1,223,151 1,912,500 3,771,176 3,561,666 7,837,500 30,200,000 15,100,000 15,100,000 Dreadnought’s work plan summary Star of Mangaroon Open Pit Mar 2025 Quarter Jun 2025 Quarter Scoping Study Mining, Haul, Process Agreement Sep 2025 Quarter Dec 2025 Quarter Approvals and Commencement of Production Mangaroon Drilling Granted Mining Leases: Star of Mangaroon extensions, Popeye, Pritchard’s, Lead Gold Mine, Two Peaks and McCarthy Workings Other Leases: Steve’s, Cullens, Midday Moon, Nail, Mitchells, Minga Bar and Edmund. Mangaroon Exploration Target Generation Bordah, High Range and Minga Bar Illaara Drilling (Aircore) Metzke’s, Lawrence, SW BIF Horizon, Black Oak – Homestead ~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 10 10 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 8345 9473 8345 +61 (08) 9473 info@dreres.com.au info@dreres.com.au www.dreadnoughtresources.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 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 – 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, Production Targets, forecast financial information and Ore Reserves, 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. 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. Disclaimer References in this announcement may have been made to certain previous ASX announcements, which in turn may have included Exploration Results, Exploration Targets, Mineral Resources, Ore Reserves and the results of Pre-Feasibility Studies. For full details, please refer to the said announcement on the said date. The Company is not aware of any new information or data that materially affects this information. Other than as specified in this announcement and mentioned announcements, the Company confirms it is not aware of any new information or data that materially affects the information included in the original market announcement(s), and in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changed. 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 announcement. ASX:DRE Dreadnought Resources Ltd 11 11 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 8345 9473 8345 +61 (08) 9473 info@dreres.com.au info@dreres.com.au www.dreadnoughtresources.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 SCHEDULE OF INTERESTS IN MINING TENEMENTS (as at 31 March 2025) Tenement Project Location Status E04/2315 E04/2508 E04/2557 E04/2608 E04/2860 E04/2861 E04/2862 E04/2863 E08/3178 E08/3229 E08/3274 E08/3275 E08/3439 E08/3539 E08/3740 E09/2195 E09/2290 E09/2359 E09/2370 E09/2383 E09/2384 E09/2405 E09/2422 E09/2433 E09/2448 E09/2449 E09/2450 E09/2467 E09/2473 E09/2478 E09/2479 E09/2535 E09/2616 E09/2937 E09/2982 E09/2994 E09/2999 M09/0063 M09/0091 M09/0146 M09/0147 M09/0174 M09/0175 G09/0030 L09/0027 L09/0104 L09/0108 L09/0114 L09/0115 L09/0116 E29/0957 E29/0959 E29/0965 E29/1050 E29/1153 Tarraji Yampi Yampi Yampi Tarraji Tarraji Tarraji Tarraji Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Mangaroon Illaara Illaara Illaara Illaara Illaara Kimberley, WA Kimberley, WA Kimberley, WA Kimberley, WA Kimberley, WA Kimberley, WA Kimberley, WA Kimberley, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Yilgarn, WA Yilgarn, WA Yilgarn, WA Yilgarn, WA Yilgarn, WA Granted Granted Granted Granted Application Application Application Application Granted Granted Granted Granted Granted Application Application Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Application Application Application Application Granted Granted Granted Granted Granted Granted Application Granted Granted Granted Granted Application Application Granted Granted Granted Granted Granted ASX:DRE Interest Start of Quarter 80% 1 100% 100% 100% 100% 100%4 100% 100% 100% 100% 100% 100% 100% 100% 100%4 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Interest End of Quarter 80% 1 100% 100% 100% 100% 100% 100% 100% 100% -3 -4 100% 100% 100% 100%4 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% -4 100% 100% -3 -3 -4 100% 100% 100% 100% 100% -3 -4 100% 100% 100% 100% 100% 100% 100% 100% Dreadnought Resources Ltd 12 12 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 8345 9473 8345 +61 (08) 9473 info@dreres.com.au info@dreres.com.au www.dreadnoughtresources.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 Tenement Project Location Status E29/1204 E29/1205 E30/0471 E30/0476 E30/0485 E30/0554 E30/0558 E52/3412 E52/3462 E52/3936 E52/4083 E52/4139 E52/4141 E52/4142 E52/4143 E52/4144 E52/4145 E52/4228 Illaara Illaara Illaara Illaara Illaara Illaara Illaara Bresnahan Bresnahan Bresnahan Bresnahan Bresnahan Bresnahan Bresnahan Bresnahan Bresnahan Bresnahan Bresnahan Yilgarn, WA Yilgarn, WA Yilgarn, WA Yilgarn, WA Yilgarn, WA Yilgarn, WA Yilgarn, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Gascoyne, WA Granted Granted Granted Granted Granted Granted Application Granted Granted Granted Granted Application Application Granted Granted Application Granted Granted 1 2 3 4 Interest Start of Quarter 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Interest End of Quarter 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 2 100% 100% 100% E04/2315 subject to an 80/20 JV with Whitewater Resources Pty Ltd. E52/4142 subject to a Farm-in Joint Venture arrangement with Teck Resources Pty Ltd. Applied for / acquired during the quarter. Acquisitions are still subject to completion. RESOURCES SUMMARY Yin Ironstone Complex – Yin, Yin South, Y2, Sabre Measured, Indicated and Inferred Resources Table 1: 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 2: Summary of the Gifford Creek Carbonatite Inferred Resource at various % TREO Cut-offs. Cut-Off (%TREO) 0.90 0.70 0.50 0.30 Resource (Mt) 5.73 10.84 20.55 45.87 TREO (%) 1.18 1.00 0.80 0.58 NdPr:TREO (%) 21 21 21 21 Nb2O5 (%) 0.25 0.22 0.15 0.10 P2O5 (%) 3.8 3.5 3.0 2.7 TiO2 (%) 5.4 4.9 3.9 3.0 Sc (ppm) 92 85 68 52 Contained TREO (t) 67,500 108,000 164,600 265,300 Contained Nb2O5 (t) 14,500 23,700 31,100 44,800 Star of Mangaroon – Indicated and Inferred Resources Table 3: Resource (2g/t Au cut-off grade) - Numbers may not add up due to rounding Type Transition Fresh Total ASX:DRE Indicated Tonnes 1,900 42,500 44,400 Au (g/t) 26.9 13.0 13.6 Inferred Au (Oz) 1,700 17,800 19,500 Tonnes 12,200 12,200 Au (g/t) 9.8 9.8 Total Au (Oz) 3,900 3,900 Tonnes 1,900 54,700 56,600 Au (g/t) 26.9 12.3 12.8 Au (Oz) 1,700 21,700 23,400 Dreadnought Resources Ltd 13 13