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 7 July 2025 Critical Metals Update – Gifford Creek Carbonatites HIGHLIGHTS (All amounts in A$ unless otherwise stated) • Dreadnought has received increasing inbound commercial interest in the 100% owned Gifford Creek Carbonatites at Mangaroon (“Gifford Creek”). Gifford Creek contains proven rare earths, niobium, scandium, titanium, phosphorus and zirconium mineralisation. • As part of the inbound commercial interest, third parties have requested material for test work. Accordingly, a 4 hole, diamond drill program will be conducted to source metallurgical samples. In addition, these samples will also be used for internal Resource and metallurgy work. • The program will not distract from Dreadnought’s focus on delivering its More Gold, Faster Strategy. Furthermore, this program will strongly support Dreadnought’s commitment to commercialise the critical metals. • In addition, $180,000 of this program is funded by the Geological Society of Western Australia’s competitive Exploration Incentive Program (“EIS”) (ASX 25 Oct 2024). Drilling will take place in July 2025. • Given the background of the parties who have approached Dreadnought, we have set out details of the various critical minerals at Gifford Creek, including Rare Earths, Niobium, Titanium, Scandium, Zirconium and Phosphate. For completeness we have also included the opportunities at the nearby Yin Ironstones (“Yin”). Dreadnought Resources Ltd (“Dreadnought”) is pleased to provide an update on the 100% owned Mangaroon Critical Metal Project (“Mangaroon”), in the Gascoyne region of WA. Dreadnought’s Managing Director, Dean Tuck, commented: “The Gifford Creek Carbonatite Complex is one of the largest carbonatite complexes globally and already contains multiple critical minerals including niobium, rare earths, titanium, scandium and phosphorus. Due to geopolitical activities there is a rebounding market sentiment for critical metals and we have been receiving an increasing amount of third-party commercial interest. Finding a commercial outcome for the Gifford Creek Carbonatite Complex is a key pillar of our More Gold, Faster Strategy and we look forward to continuing discussions on this front.” Figure 1: Map showing the locations of significant critical metals (REE-Nb) projects in Western Australia in relation to existing infrastructure. ASX:DRE Dreadnought Resources Ltd 1 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Overview of Gifford Creek and Yin Located ~250kms northeast of Carnarvon in the Gascoyne Region of Western Australia, the Gifford Creek Carbonatite and the Yin Ironstones together form one of the largest alkali-carbonatite complexes in the world (Figure 10). Carbonatite intrusions are known globally to host several different commodities including critical minerals. Gifford Creek has genuine scale potential for rare earth elements (“REE”) and Nb, containing the following Resources and Exploration Target: Yin Resource at 0.20% TREO Cutoff – 88% Measured and Indicated (ASX 30 Nov 2023) over only ~10% of Yin Type Oxide and Fresh Ironstone Tonnes (Mt) TREO (%) Total TREO (t) NdPr:TREO Ratio (%) 29.98 1.04 312.3 29 Yin Resource at 1.00% TREO Cutoff – 94% Measured and Indicated (ASX 30 Nov 2023) over only ~10% of Yin Type Oxide and Fresh Ironstone Tonnes (Mt) TREO (%) Total TREO (t) NdPr:TREO Ratio (%) 11.63 1.93 224.3 29 Gifford Creek C3 Resource at 0.70% TREO Cutoff – 100% Inferred (ASX 28 Aug 2023) Resource (Mt) 10.84 TREO (%) 1.00 NdPr:TREO Ratio (%) 21 Nb2O5 (%) 0.22 Contained TREO (t) 108,000 Contained Nb2O5 (t) 23,700 Gifford Creek Nb Exploration Target – Stinger Only (ASX 3 Mar 2025) Tonnage Range (Mt) 15 - 60Mt Grade Range (% Nb2O5) 0.5% – 1.0% Contained Nb2O5 Range (t) 150,000 – 300,000t *Note that the potential quality and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Resource, and it is uncertain if further exploration will result in the estimation of a Resource. There has been no material change since the Exploration Target was first announced on 3 March 2025. The Exploration Target has been prepared in accordance with JORC 2012. The Exploration Target has been estimated for Stinger only over an area of ~1,700m x 500m and to a depth of ~120m based on wide spaced drilling to date and excludes: fresh rock depth extensions including drill holes ending in mineralisation; mineralised extensions to Stinger: Discoveries within the region; and Other associated critical minerals including rare earths, titanium, scandium, zirconium and phosphate. In addition, Gifford Creek contains significant potential for additional critical metals with drill intercepts including: • CBRC115: 102m @ 1.1% TREO from 3m, including 29m @ 2.1% TREO from 76m • CBRC195: 130m @ 0.7% Nb2O5 from 71m, including 39m @ 1.3% Nb2O5 from 84m • CBRC148: 43m @ 11.9% P2O5 from 87m, including 24m @ 14.5% P2O5 from 105m to EOH • CBRC138: 45m @ 181ppm Sc from 48m, including 12m @ 319ppm Sc from 48m • CBRC086: 72m @ 8.6% TiO2 from 12m, including 6m @ 12.8% TiO2 from 66m • CBRC201: 74m @ 0.6% ZrO2 from 78m, including 14m @ 1.2% ZrO2 from 113m • CBRC125: 10m @ 270ppm Sc from 18m As part of the inbound commercial interest, third parties have requested material for test work. Accordingly, a 4 hole, diamond drill program will be conducted to source metallurgical samples. In addition, these samples will also be used for internal Resource and metallurgy work. ASX:DRE Dreadnought Resources Ltd 2 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Gifford Creek - Niobium Gifford Creek was identified in November 2021, has limited outcrop and extends to ~17kms long x ~1km wide. To date 147 RC holes and 8 diamond holes have been drilled over ~25% of Gifford Creek. Five zones of mineralisation have been confirmed to date with significant niobium intercepts including: CBRC195: 130m @ 0.7% Nb2O5 from 71m, including 39m @ 1.3% Nb2O5 from 84m CBRC200: 95m @ 0.9% Nb2O5 from 48m, including 20m @ 1.4% Nb2O5 from 102m CBRC194: 122m @ 0.6% Nb2O5 from 64m, including 26m @ 1.1% Nb2O5 from 99m CBRC201: 98m @ 0.7% Nb2O5 from 54m, including 41m @ 1.1% Nb2O5 from 85m CBRC085: 48m @ 0.8% Nb2O5 from 30m, including 36m @ 1.0% Nb2O5 from 39m CBRC086: 77m @ 0.7% Nb2O5 from 16m, including 30m @ 1.0% Nb2O5 from 39m High grade mineralisation at Gifford Creek typically occurs in the weathered zones of the carbonatite where it is often associated with iron oxides and apatite. Drilling has mainly tested the oxide zone. Limited holes have gone into the fresh carbonatite where niobium mineralisation is associated with magnesio-carbonatite and apatite. Mineralogical work has confirmed the presence of coarse grained (>0.30mm) pyrochlore from both weathered and fresh magnesio-carbonatite. In addition to pyrochlore, niobium is present as ilmenorutile, and rippite. An Exploration Target has been estimated for Stinger zone only and is based on an area of ~1,700m x 500m to a depth of ~120m. This is based on wide spaced drilling and excludes: fresh rock and depth extensions; mineralised extensions to Stinger and other mineralised areas within Gifford Creek. Gifford Creek Nb Exploration Target – Stinger Only (ASX 3 Mar 2025) Tonnage Range (Mt) Grade Range (% Nb2O5) 15 - 60Mt 0.5% – 1.0% Contained Nb2O5 Range (t) 150,000 – 300,000t *Note that the potential quality and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Resource, and it is uncertain if further exploration will result in the estimation of a Resource. The Exploration Target has been prepared in accordance with JORC 2012. Figure 2: Map showing the locations of significant niobium intercepts within Gifford Creek. ASX:DRE Dreadnought Resources Ltd 3 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Gifford Creek - Rare Earths Rare earths were identified in outcrop in November of 2021. A ~600m x 550m area of high-grade mineralisation was intersected during early drilling and subsequently converted to a Resource (C3). The C3 Resource is near-surface and has a supergene component with significant niobium, titanium, phosphate and scandium. Importantly, the C3 Resource is the first within Gifford Creek which remains only partially explored. Gifford Creek C3 Resource at 0.70% TREO Cutoff – 100% Inferred (ASX 28 Aug 2023) Resource (Mt) 10.84 TREO (%) 1.00 NdPr:TREO Ratio (%) 21 Nb2O5 (%) 0.22 Contained TREO (t) 108,000 Contained Nb2O5 (t) 23,700 Recent drilling has subsequently intersected high-grade mineralisation with significant intercepts including: CBRC200: 90m @ 1.1% TREO from 48m, including 8m @ 3.1% TREO from 72m CBRC193: 59m @ 1.1% TREO from 49m, including 7m @ 3.0% TREO from 72m CBRC195: 97m @ 0.9% TREO from 57m, including 23m @ 1.6% TREO from 71m Rare earths are hosted in both weathered and fresh carbonatite with higher-grades in the weathered profile. Oxidised mineralisation contains phosphate monazite, crandallite group minerals and variable amounts of the hydrated phosphate rhabdophane. Fresh carbonatite mineralisation contains monazite, burbankite, bastnaesite and variable amounts of apatite. Figure 3: Map showing the locations of significant rare earth intercepts within Gifford Creek. ASX:DRE Dreadnought Resources Ltd 4 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Gifford Creek - Titanium Titanium is a critical metal that is indispensable in aerospace, defense and medical industries due to its high strengthto-weight ratio and corrosion resistance. Ilmenite, rutile and anatase are the principal titanium minerals mined globally, being sourced from magmatic deposits (like Gifford Creek) or from mineral sands. The concentration of titanium dioxide (TiO2) can vary significantly within magmatic deposits with current hard rock producers ranging from ~8.6% TiO2 (Damiao) to 32% TiO2 (Lac Tio). Thick, high-grade titanium mineralisation has been identified at Gifford Creek with significant results including: CBRC175: 68m @ 8.9% TiO2 from 51m, including 3m @ 13.2% TiO2 from 55m CBRC176: 49m @ 9.7% TiO2 from 49m, including 12m @ 15.6% TiO2 from 54m CBRC125: 107m @ 7.7% TiO2 from 16m, including 17m @ 11.1% TiO2 from 81m CBRC085: 72m @ 8.6% TiO2 from 6m, including 21m @ 11.7% TiO2 from 45m CBRC200: 89m @ 8.9% TiO2 from 48m, including 8m @ 22.2% TiO2 from 72m Titanium mineralisation is hosted in both weathered and fresh carbonatite with higher-grades in the weathered oxidised profile. This is similar to deposits such as Catalao, Salitre and Tapira in Brasil. Mineralogical work undertaken shows that the weathered mineralisation is dominated by rutile and ilmenite with minor anatase. Fresh carbonatite mineralisation has been observed in both siderite-rutile+ilmenite veins and as disseminations of rutile, ilmenite and minor anatase within magnesio-carbonatite. Figure 4: Map showing the locations of significant titanium intercepts within the Gifford Creek Carbonatite. Huleatt, M.B., 2019. Australian Resource Reviews: Rare Earth Elements 2019. Geoscience Australia, Canberra. Cameron Perks, Gavin Mudd, 2019. Titanium, zirconium resources and production: A state of the art literature review, Ore Geology Reviews, Volume 107. Are Korneliussen, et al. 2000. An Overview of titanium deposits in Norway. Norges geologiske utidersekelse Bulletin 436. Li-Xing Li et al. 2024. Characterizing a new type of nelsonite recognized in the Damiao anorthosite complex, North China Craton, with implications for the genesis of giant magmatic Fe-Ti oxide deposits. American Mineralogist Volume 109, Number 1. ASX:DRE Dreadnought Resources Ltd 5 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Gifford Creek - Scandium Scandium is a critical metal used in the production of alloys for the aerospace industry and for solid oxide fuel cells. Scandium is mainly produced as a by-product with the largest global producer being the Bayan Obo carbonatite deposit in China. Scandium occurs in relatively higher concentrations within ultramafic and carbonatite rocks and becomes mineralised through a secondary process like weathering and laterisation where it can reach 100-400ppm Sc. At Bayan Obo, scandium occurs within the weathered carbonatite at a concentration of ~100ppm Sc. Due to a change in assay techniques, scandium assays are not available for all holes. However, thick, high-grade scandium has been identified with significant results including: CBRC125: 110m @ 136ppm Sc from 12m, including 10m @ 270ppm Sc from 18m CBRC086: 79m @ 141ppm Sc from 14m, including 12m @ 236ppm Sc from 54m CBRC138: 45m @ 181ppm Sc from 48m, including 12m @ 319ppm Sc from 48m Scandium is restricted to the weathered and more iron rich laterite zones within the regolith. While the host mineral within the regolith has not yet been confirmed, the scandium is believed to be sourced from the breakdown of pyroxenites such as aegirine and arfvedsonite. Figure 5: Map showing the locations of significant scandium intercepts within the Gifford Creek Carbonatite. Zhenchao Wang, et al. 2021. Scandium: Ore deposits, the pivotal role of magmatic enrichment and future exploration, Ore Geology Reviews, Volume 128. Zhi-Shuang Yang, et al. 2025. Distribution and enrichment of scandium in minerals of the Bayan Obo REE-Nb-Fe deposit, Inner Mongolia, north China, Journal of Asian Earth Sciences, Volume 291. Huleatt, M.B., 2019. Australian Resource Reviews: Rare Earth Elements 2019. Geoscience Australia, Canberra. Shuang-Liang Liu, et al. 2025. Scandium distribution in the Bayan Obo REE-Nb-Fe deposit, China: A multi-scale geochemical perspective, Ore Geology Reviews, Volume 177. Verbaan, N. et al. 2018. A Process Flowsheet for the Extraction of Niobium, Titanium, and Scandium from Niocorp’s Elk Creek Deposit. ASX:DRE Dreadnought Resources Ltd 6 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Gifford Creek - Zirconium Zirconium is a critical metal used in the chemical and nuclear-reactor industries due to its corrosion resistance, structural stability at high temperatures, alloying properties and neutron-absorption characteristics. Zircon and Baddeleyite are the principal zirconium minerals mined globally dominantly from mineral sand deposits, but also carbonatites and alkaline complexes such as the Kovdor deposit in Russia where zirconium is produced as a byproduct of phosphate and iron ore mining with an average concentration of 0.15% ZrO2. Thick, high-grade, zirconium mineralisation has been identified within several zones with the most significant results being from the Stinger niobium zone including: CBRC200: 66m @ 1.0% ZrO2 from 72m, including 19m @ 1.4% ZrO2 from 104m CBRC193: 36m @ 1.0% ZrO2 from 72m, including 10m @ 1.4% ZrO2 from 98m CBRC201: 44m @ 0.8% ZrO2 from 83m, including 14m @ 1.2% ZrO2 from 113m Zirconium mineralisation is hosted in both weathered and fresh carbonatite and internal syenites. All zones are dominated by the mineral zircon. Figure 6: Map showing the locations of significant zirconium intercepts within the Gifford Creek Carbonatite. Fedoseev S. et al. 2017. Development potential of Russian zirconium industry on world markets. Journal of Business and Retail Management Research Vol 12. G.Yu. Ivanyuk, et al. 2016. Economic minerals of the Kovdor baddeleyite-apatite-magnetite deposit, Russia: mineralogy, spatial distribution and ore processing optimization, Ore Geology Reviews, Volume 77. Cameron Perks, Gavin Mudd, 2019. Titanium, zirconium resources and production: A state of the art literature review, Ore Geology Reviews, Volume 107. ASX:DRE Dreadnought Resources Ltd 7 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Gifford Creek - Phosphate Phosphate plays a major role in Australian agriculture and is often produced from carbonatites (Mt Weld) or as a byproduct of niobium or rare earths (Arafura, Araxa, Catalao). The primary economic phosphate mineral produced from mining carbonatites is apatite from both sedimentary and igneous (carbonatite) deposits. While sedimentary (phosphate rock) deposits tend to be higher grade (12-35% P2O5) igneous (carbonatite) deposits tend to be coarser grained and produce higher grade and lower impurity phosphate concentrates. These concentrates are critical for the production of phosphoric acid used in the production of lithium iron phosphate batteries which range from 417% P2O5. At Gifford Creek, phosphate rich rocks are associated with niobium and occasionally rare earths. Thick and highgrade, phosphate mineralisation has been identified within several zones with results including: CBRC148: 43m @ 11.9% P2O5 from 87m (to EOH) CBRC194: 116m @ 10.5% P2O5 from 70m, incl. 20m @ 21.9% P2O5 from 138m CBRC195: 126m @ 7.2% P2O5 from 71m, incl. 24m @ 15.9% P2O5 from 133m CBRC115: 74m @ 6.8% P2O5 from 22m, incl. 28m @ 10.5% P2O5 from 48m CBRC111: 42m @ 8.3% P2O5 from 69m (to EOH), incl. 12m @ 14.0% P2O5 from 99m (to EOH) CBRC142: 66m @ 7.1% P2O5 from 75m (to EOH), incl. 18m @ 13.6% P2O5 from 108m Phosphate mineralisation is hosted in both weathered and fresh carbonatite and is dominated by apatite in both zones. Figure 7: Map showing the locations of significant phosphate intercepts within the Gifford Creek Carbonatite. Sandeep Banerjee, et al. 2024. Igneous Rock Phosphate: ore grades, concentrates and mining operations around the world. Research Note for First Phosphate Corporation. Queens University Sandeep Banerjee. 2024. Phosphate ore grades and concentrates from igneous and sedimentary phosphate rocks and their associated mining operations. Research Note for First Phosphate Corporation. Queens University ASX:DRE Dreadnought Resources Ltd 8 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au For completeness Yin Ironstones are also discussed: Yin - Rare Earths Outcropping REE mineralisation was first observed at Yin in July 2021. Since then, ~43kms of REE bearing ironstones have been identified, ~20kms have been tested by drilling and detailed resource drilling undertaken over just ~5kms. Yin consists of goethite and hematite dominated oxide zones near the surface (top ~60-120m) transitioning into a fresh ferrocarbonatite dyke, comprised of ankerite and siderite below the base of oxidation. The ironstones are surrounded by a variable zone of fenitised country rock with the fenitised zone often including thin ironstone veins. Both the ironstone and the fenite surrounding the ironstone are mineralised with each ironstone and ferrocarbonatite containing at least one central interval of higher-grade mineralisation. Oxidised mineralisation contains REE bearing phosphate monazite-Ce and monazite-Nd, variable amounts of the hydrated REE phosphate rhabdophane and trace amounts of apatite which occasionally carries small amounts of REE. Fresh ferrocarbonatite mineralisation contains monazite and variable amounts of apatite and REE fluoro-carbonates such as bastnaesite. The ironstones range in thickness from 1-54m. In addition, parallel lodes have been intersected above and below the main lodes and often exhibit a similar orientation as the main lodes with thicknesses ranging from 1-10m. Ironstone lodes are known to pinch, swell, change dip, change orientation along strike and potentially plunge. To date, 512 RC holes and 32 diamond holes have been drilled delivering a Resource at Yin of 29.98Mt @ 1.04% TREO over ~5kms - 87% Measured & Indicated (ASX 30 Nov 2023). The Resource only covers ~5kms of Yin and is based on 345 RC drill holes (38,904m) and 32 diamond drill holes (3,358.72m). Importantly, the Resource includes an initial Measured Resource of 5.17Mt @ 1.34% TREO and Indicated Resource of 21.13Mt @ 1.02% TREO (NdPr:TREO of 29%) (ASX 30 Nov 2023). Metallurgical test work completed on Yin has: - resulted in monazite concentrates ranging from 31.2-41.7% TREO and 10.7%-15.3% Nd2O3+Pr6O11 with TREO recoveries ranging from 85.9%-92.8% using material with head grades ranging from 1.6%-2.3% TREO. This work indicates that a high-value monazite concentrate can be produced from Yin using a standard flowsheet (ASX 29 May 2023). - resulted in the production of a high quality mixed rare earth carbonate (“MREC”) containing 60.7% TREO and 20.7% Nd2O3+Pr6O11 with TREO recoveries of ~94% from the monazite and apatite rich concentrates. This work indicates that a high-value MREC can be produced from Yin using a conventional, low-temperature, acid bake/leach (ASX 6 May 2024). Figure 8: Cross section through the Yin Deposit. (ASX 30 November 2023 Large, High Confidence Yin Ironstone Resource) ASX:DRE Dreadnought Resources Ltd 9 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Yin - Niobium The presence of niobium at Yin was only identified from drilling. Niobium is localized within the ironstones and is primarily located in the northern sections. Niobium appears associated within the ironstones and within the fenite altered country rock adjacent to the ironstones. Mineralogical work has identified coarse grained (>0.30mm) pyrochlore, columbite and baotite from both weathered and fresh ironstones. Significant niobium drill intercepts include: YINRC300: 7m @ 1.7% Nb2O5 from 3m, including 3m @ 3.2% Nb2O5 from 3m YINRC380: 18m @ 0.7% Nb2O5 from 6m, including 4m @ 1.4% Nb2O5 from 16m YINRC194: 13m @ 0.7% Nb2O5 from 85m, including 4m @ 1.5% Nb2O5 from 3m Niobium has also been identified in outcropping alkali dykes such as seen in rock chip sample MNRK0528 which returned 15.2% Nb2O5 and 21.2% ZrO2. Figure 9: SEM images from Yin showing pyrochlore (light grey) in fresh ironstones (L) from YINRC436 and coarse baotite (labeled “bao”) in weathered ironstone (R) from YINRC292. Figure 10: Location of niobium within the limited extent of current drilling at Gifford Creek. Inset image shows globally significant carbonatite complexes at Mt Weld, Ngualla and Luni at similar scale highlighting the footprints of niobium. ASX:DRE Dreadnought Resources Ltd 10 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au For further information please refer to previous ASX announcements: • • • • • • • • • • • • • • • • • • • • • • • 25 November 2020 15 March 2021 17 May 2021 17 October 2022 23 November 2022 28 December 2022 24 January 2023 29 March 2023 3 April 2023 29 May 2023 5 July 2023 10 July 2023 17 July 2023 7 August 2023 28 August 2023 2 October 2023 30 November 2023 6 December 2023 6 June 2024 12 August 2024 19 August 2024 9 October 2024 3 March 2025 Mangaroon Ni-Cu-PGE & Au Project Exploration Commences at Mangaroon Ni-Cu-PGE & Au Project Update on Mangaroon Ni-Cu-PGE & Au Project Mineralised Carbonatites Discovered at C3 and C4 Multiple, Large Scale, REE-Nb-Ti-P Carbonatites Initial High-Grade, Independent Resource over 3kms at Yin Carbonatite Discovery Shaping up as Regional Rare Earth Source Yin Resource to Grow, Carbonatite Drilling Commenced Carbonatites Deliver Thick, Near Surface REE Results Metallurgical Test Work Supports High-Value Concentrate 40% Increase in Resource Tonnage at Yin High Grade Rare Earth & Niobium Zones at C3 & C5 High Grade Rare Earth & Niobium Zones at C3 & C5 Rare Earth Ironstone and Carbonatite Drilling Update Initial, Independent REE-Nb-P-Ti-Sc Resource at C3 Mangaroon Carbonatite now >17km – Higher Grade Zones Fingerprinted Large, High Confidence Yin Ironstone Resource Gifford Creek REE-Nb-P-Ti-Sc Carbonatite Drilling Update Gifford Creek REE-Nb Carbonatite Update Gifford Creek Niobium Drilling Update Thick High-Grade Niobium Intercepts from Gifford Creek Carbonatite Exceptional Niobium Intercepts at the Stinger Discovery Stinger Niobium Exploration Target ~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 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au Cautionary Statement This announcement and information, opinions or conclusions expressed in the course of this announcement contains forecasts and forwardlooking 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 and Targets 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, Exploration and 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 Yin Ironstones Complex Measured, Indicated and Inferred Resources (ASX 30 November 2023) Table 1: Summary of Yin Resources at 0.20% TREO Cut off. Type Oxide Fresh Total Tonnes (Mt) 2.47 2.70 5.17 Measured TREO (%) 1.61 1.09 1.34 TREO (kt) 39.7 29.5 69.3 Tonnes (Mt) 13.46 7.67 21.13 Indicated TREO (%) 1.06 0.95 1.02 TREO (t) 142.6 72.8 215.4 Tonnes (Mt) 1.51 2.17 3.68 Inferred TREO (%) 0.75 0.75 0.75 TREO (t) 11.2 16.3 27.6 Tonnes (Mt) 17.44 12.54 29.98 TREO (%) 1.11 0.95 1.04 Total TREO (t) 193.6 118.7 312.3 NdPr:TREO Ratio (%) 29 29 29 TREO (t) 106.4 47.9 154.3 Tonnes (Mt) 0.26 0.42 0.68 Inferred TREO (%) 1.67 1.72 1.70 TREO (t) 4.3 7.3 11.6 Tonnes (Mt) 7.20 4.43 11.63 TREO (%) 2.03 1.76 1.93 Total TREO (t) 146.3 78.0 224.3 NdPr:TREO Ratio (%) 30 29 29 Table 2: Summary of Yin Resources at 1.00% TREO Cut off. Type Oxide Fresh Total Tonnes (Mt) 1.60 1.36 2.96 Measured TREO (%) 2.22 1.68 1.97 TREO (kt) 35.6 22.8 58.4 Tonnes (Mt) 5.34 2.65 7.99 Indicated TREO (%) 1.99 1.81 1.93 Gifford Creek Carbonatite – Inferred Resource (ASX 28 August 2023) Table 3: 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 Unit 1, 4 Burgay Court, Osborne Park, WA 6017 +61 8 9473 8345 info@dreres.com.au www.dreadnoughtresources.com.au T