Announcement PDF Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au ASX:DRE Dreadnought Resources Ltd 1 ASX ANNOUNCEMENT 14 May 2026 Divestment of Mid-West Option HIGHLIGHTS • Dreadnought has signed a binding heads of agreement with Catalina Resources Ltd (ASX.CTN, “Catalina”), to divest the option to acquire tenements in the Mid-West Region of WA (ASX: 3 Oct 2025). Subject to completion, the consideration is as follows: o $100,000 cash; o $200,000 of shares in Catalina at an issue price $0.055 per share; and o further deferred consideration should Catalina dispose of any tenements within 12 months after completion. Further details are outlined later in this announcement. • Dreadnought to maintain leverage to the tenements through its stake in Catalina, which previously acquired the Evanston and Yerilgee Projects (ASX: 11 Dec 2024). Dreadnought Resources Ltd (“Dreadnought”) is pleased to announce that a binding heads of agreement has been executed in relation to an option to divest tenements in the mid-west region of WA. Dreadnought’s Managing Director, Dean Tuck, commented: “This presented as a good opportunity to commercialise our interests in the Mid-West. In doing so, we have maintained our exposure to success through our shareholding in Catalina. As shareholders in Catalina, we wish them success.” Figure 1. Regional map showing the location of the option tenements (blue) in relation to major gold projects. Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au ASX:DRE Dreadnought Resources Ltd 2 Details of the Transaction Tenements: • E59/2699, E59/2932, E59/2935, E59/2991, E70/6736, E70/6744, E70/6748, P59/2431, P59/2432, P52/2433, P52/2434, P52/2435, P70/1761, E70/6793. Subject to Completion, the consideration is: • Cash $100,000; • Issue of $200,000 fully paid ordinary shares in Catalina at a price of $0.055. Deferred Consideration: • If Catalina disposes of the Tenements within twelve (12) months after Completion, Catalina agrees to: • pay 50% of the Net Proceeds, such amount to be capped at $500,000; • satisfy such payment in cash or Shares (at Catalina’s election). Completion is subject to: • Catalina completing a placement to raise a minimum of $3,000,000 via the issue of Shares in two tranches; and • Catalina obtaining all necessary shareholder approvals required to complete the Acquisition. Dreadnought’s work plan summary June 2026 Quarter Sept 2026 Quarter Dec 2026 Quarter Star of Mangaroon Approvals and commencement of mining, production and processing through Paulsens Gold Operations (BC8 JV) Mangaroon Discovery Drilling RC drilling of targets defined through target definition work Mangaroon Exploration Target definition work (soils and gradient array IP) at Bordah, High Range North, High Range South, Minga Bar camp scale targets Metzke’s Find RC, Diamond Drilling, Technical and Environmental Studies, Resource update and Scoping Study Mining Proposal and Closure Plan submission Illaara Exploration and Discovery Phase 1 air core drilling Phase 2 air core drilling Phase 3 air core drilling / RC drilling Gifford Creek Mineralogical and Metallurgical test-work Upcoming News • May to June: Results from RC drilling at Metzke’s Find — Illaara Gold • May to August: Results from air core drilling — Illaara Gold • May: Upgrade JORC Exploration Target, Stinger — Gifford Creek • May to June: Final mineralogy results — Gifford Creek • June / July Commencement of metallurgical test work — Gifford Creek • July: Results of target definition work — Mangaroon Gold • July: Results of target generation work — Mangaroon South • July / August: Updated Metzke’s Find Resource — Illaara Gold ~Ends~ For further information please contact: Dean Tuck Jessamyn Lyons Managing Director Company Secretary Dreadnought Resources Limited Dreadnought Resources Limited E: dtuck@dreres.com.au E: jlyons@dreres.com.au This announcement is authorised for release to the ASX by the Board of Dreadnought. Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au ASX:DRE Dreadnought Resources Ltd 3 Mangaroon Project Mangaroon covers ~5,000km2 and is located 250km south-east of Exmouth in the Gascoyne Region of WA. Since 2020, Dreadnought has identified three major focus areas within the Mangaroon Project: Mangaroon Gold (100%) Outcropping gold mineralisation was first identified and mined at Mangaroon by local pastoralists and prospectors in the 1960s and has seen no modern gold exploration. Dreadnought has consolidated this gold field and is undertaking the first modern exploration across the region which has identified five camp scale gold opportunities at Bordah, High Range, Alma, Minga Bar and Star of Mangaroon. In addition, the project contains granted mining leases that provide an opportunity for cashflow including the Star of Mangaroon Mine where Dreadnought has delivered a 23,400 oz Resource at 12.8 g/t Au (84% Indicated) Gifford Creek Critical Metals (100%) Dreadnought discovered the Yin Ironstones and the Gifford Creek Carbonatite in 2021. Since then, the Gifford Creek Carbonatite Complex has emerged as a globally significant, rapidly growing, potential source of critical minerals. Highlights include: • Discovery of the Yin REE Ironstone Complex and delivery of a 30.0 Mt @ 1.04% TREO Resource over only ~4.6km — including a Measured and Indicated Resource of 26.3 Mt @ 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). • Delivery of a large, independent initial Resource of 10.8 Mt @ 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). • Discovery of Stinger Nb-REE-P-Ti-Sc-Zr bearing carbonatite and delivery of the Stinger Niobium Exploration Target (ASX 3 Mar 2025, 29 Sept 2025). Money Intrusion Ni-Cu-PGEs (Teck Earn-In) The Money Intrusion is a ~45km long mafic intrusion prospective for Ni-Cu-PGE massive sulphides. In 2023, Dreadnought discovered high tenor nickel-copper massive sulphides confirming the potential of this new system. Dreadnought entered in to a $15M Farm-In and Joint Venture agreement with Teck Resources, a leading Canadian resource company, to earn up to 75% of the Money Intrusion tenements. Illaara Gold Project (100%) Illaara is located ~190km northwest of Kalgoorlie in the Yilgarn Craton. The project comprises ~800km2 covering ~70km of strike along the Illaara greenstone belts. Illaara was acquired off Newmont in 2019 as an early stage exploration project prospective for typical Archean mesothermal lode gold deposits. Dreadnought has delivered a 14,900 oz @ 6.8 g/t Au Resource at Metzke’s Find (72% Indicated). Prior to consolidation by Dreadnought, Illaara was predominantly held by iron ore explorers and remains highly prospective for iron ore amongst other commodities. Kimberley Cu-Au-Sb Project (Tarraji 80% / Yampi 100%) Tarraji-Yampi covers ~420km2 is located only 85km 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 historical workings which have seen no modern exploration. In 2021, Dreadnought discovered high-grade Cu-Au massive sulphides at Orion with results to date indicating a large scale, Proterozoic Cu-Au VMS system at Tarraji-Yampi, similar to DeGrussa and Monty in the Bryah Basin. In addition, the project contains outcropping high-grade Cu-Ag-Sb-Bi Veins at Rough Triangle and Grant’s Find. Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au ASX:DRE Dreadnought Resources Ltd 4 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. Shaun Searle, a Competent Person who is a Member of the Australian Institute of Geoscientists. Mr. Searle is an employee of Ashmore Advisory Pty Ltd. Mr. Searle 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. Searle consents to the inclusion in the announcement of the matters based on his information in the form and context that the information appears in relation to Mineral Resource estimates. 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. Resources Summary Star of Mangaroon — Indicated and Inferred Resources (ASX 27 November 2024) Table 1: Resource (2 g/t Au cutoff grade) — Numbers may not add up due to rounding. *Surface reported at a 0.5 g/t Au cut-off. Type Measured Indicated Inferred Total Tonnes Au (g/t) Au (Oz) Tonnes Au (g/t) Au (Oz) Tonnes Au (g/t) Au (Oz) Tonnes Au (g/t) Au (Oz) Surface* 8,300 1.0 300 8,300 1.0 300 Transition 6,300 24.9 5,100 3,300 6.5 700 9,600 18.6 5,800 Fresh 33,200 13.5 14,400 23,500 8.5 6,400 1,000 5.1 200 57,700 11.3 21,000 Total 39,500 15.3 19,400 26,800 8.2 7,100 9,300 1.4 400 75,600 11.1 27,000 Metzke’s Find — Indicated and Inferred Resources (ASX 27 April 2023) Table 2: Resource (0.5 g/t Au cutoff grade) — Numbers may not add up due to rounding Type Indicated Inferred Total Tonnes Au (g/t) Au (Oz) Tonnes Au (g/t) Au (Oz) Tonnes Au (g/t) Au (Oz) Transition 800 1.1 30 1,100 17.4 600 1,900 10.3 600 Fresh 44,600 7.4 10,600 21,800 5.2 3,600 66,500 6.7 14,300 Total 45,00 7.3 10,700 22,900 5.8 4,200 68,400 6.8 14,900 Yin Ironstone Complex — Yin, Yin South, Y2, Sabre Measured, Indicated and Inferred Resources (ASX 30 November 2023) Table 3: Summary of Yin Resources at 0.20% TREO Cut off. Type Measured Indicated Inferred Total Tonnes (Mt) TREO (%) TREO (kt) Tonnes (Mt) TREO (%) TREO (t) Tonnes (Mt) TREO (%) TREO (t) Tonnes (Mt) TREO (%) TREO (t) NdPr:TREO Ratio (%) Oxide 2.47 1.61 39.7 13.46 1.06 142.6 1.51 0.75 11.2 17.44 1.11 193.6 29 Fresh 2.70 1.09 29.5 7.67 0.95 72.8 2.17 0.75 16.3 12.54 0.95 118.7 29 Total 5.17 1.34 69.3 21.13 1.02 215.4 3.68 0.75 27.6 29.98 1.04 312.3 29 Table 4: Summary of Yin Resources at 1.00% TREO Cut off. Type Measured Indicated Inferred Total Tonnes (Mt) TREO (%) TREO (kt) Tonnes (Mt) TREO (%) TREO (t) Tonnes (Mt) TREO (%) TREO (t) Tonnes (Mt) TREO (%) TREO (t) NdPr:TREO Ratio (%) Oxide 1.60 2.22 35.6 5.34 1.99 106.4 0.26 1.67 4.3 7.20 2.03 146.3 30 Fresh 1.36 1.68 22.8 2.65 1.81 47.9 0.42 1.72 7.3 4.43 1.76 78.0 29 Total 2.96 1.97 58.4 7.99 1.93 154.3 0.68 1.70 11.6 11.63 1.93 224.3 29 Gifford Creek Carbonatite — Inferred Resource (ASX 28 August 2023) Table 5: Summary of the Gifford Creek Carbonatite Inferred Resource at various % TREO Cut offs. Cut-Off (%TREO) Resource (Mt) TREO (%) NdPr:TREO (%) Nb2O5 (%) P2O5 (%) TiO2 (%) Sc (ppm) Contained TREO (t) Contained Nb2O5 (t) 0.70 10.84 1.00 21 0.22 3.5 4.9 85 108,000 23,700