Announcement PDF Finding more gold, faster N o o s a M i n i n g C o n fe re n c e 2 5 Ju ly 2 0 2 5 ASX:DRE ASX:DRE 1 Mineral Explorer with Multicommodity Optionality and a Track Record of Discovery Board and Management with Skin in the Game ~$7.2M Cash invested ~10% Shareholding Money in the Ground >85% Money raised to date spent on exploration Fully Funded ~$10M Cash in the bank to deliver our self-funding strategy and discovery Company Snapshot DRE ~$55.2M $0.011 5,023M ASX Code Market Cap Share Price Share on Issue (24/07/2025) ~$10.0M ~89M ~$0.1M / day Cash Unlisted Securities (90-day average) (30 June 2025) Liquidity Paul Chapman Non-Exec Chairman • Chartered accountant with 30+ years experience in the resources sector • Founding shareholder and/or director of Black Cat Syndicate, Reliance Mining, Encounter Resources, Rex Minerals, Silver Lake Resources, GCX Metals and Avanco Resources • Non-Executive Chairman of Meeka Minerals, a Non-Executive Director of gold developer Black Cat Syndicate and gold/base metals explorer Sunshine Metals Dean Tuck Managing Director • Experienced geologist and exploration manager having worked across a wide range of commodities in Australia, Brazil and SE Asia from project generation through to resource evaluation • Previously held senior level positions ranging from private companies to BHP Billiton and ASX listed junior explorers • Instrumental in several discoveries covering Cu-Ag-Au-Co massive sulphide, REE ironstones, REE-Nb-Phosphate carbonatites, orogenic gold, LCT pegmatites and iron ore Phillip Crutchfield Non-Exec Director • • • • Prominent and well-respected barrister specialising in commercial law Director of Encounter Resources and Hamelin Gold Chair of the Bell Shakespeare Theatre Company and the Victorian Bar Foundation Former partner of Mallesons Stephen Jaques (now King & Wood Mallesons) Major Shareholders Top 20 ~ 32% Paul Chapman 6.7% Black Cat Syndicate Ltd 3.7% HongKong Ausino Investment 3.3% Philip Crutchfield 2.7% Farjoy Pty Ltd 2.4% Parkrange Nominees Pty Ltd Dean Tuck ASX:DRE 1.5% 2 0.9% Dreadnought Strategy Develop the high-grade Star of Mangaroon – generate cashflow Add near term production ounces – generate more cashflow Find more gold, faster – make the life changing discovery Commercialise our base metal and critical metal assets: • Money Intrusion Ni-Cu-PGE Farm-In with Teck • Bresnahan Cu-Zn Farm-In with Teck • Gifford Creek Carbonatite Complex REE, Nb, Ti, Sc, Zr • Yin REE Ironstone ASX:DRE 3 Mangaroon Gold Project Star of Mangaroon Development ASX:DRE 4 Develop the Star of Mangaroon History • Gold identified: 1956 • Small-scale underground mining: 1960-1983 • Production: ~7,500 ounces at ~35g/t Outlook • Maiden Resource of 23,300oz @ 12.8g/t Au (84% Indicated) defined within ~100m of surface • High grade, open-pit opportunity with potential to grow along strike and at depth • Robust open pit Scoping Study shows: • ~A$50M in free cashflow @ A$4,600oz • 10-12 months production • max cash drawdown of ~A$10M (development partner) • AISC ~A$1,800/oz • Strategy to outsource funding, development, haulage and processing • Black Cat Syndicate has invested $2M and entered an agreement to secure the first right to negotiate gold development for processing at Paulsens ASX:DRE 5 Star of Mangaroon – shallow resource contained within ~110m of surface and remains open along strike and at depth. Upside potential at Star of Mangaroon & Popeye • Limited exploration in the 1980s/1990s: • 4m at 26g/t Au from 9m (MA10) • 4m at 18.7g/t Au from 8m (SMC07) • Recent drilling highlights by DRE includes: • 2m at 59.0g/t Au from 16m (SOMRC004) • 4m at 27.4g/t Au from 80m (SOMRC030) • 7m at 23.0/t Au from 53m (SOMRC005) • 8m at 15.5g/t Au from 89m (SOMRC006) • Exceptional metallurgical performance: • Average 96.7% total recovery with 74.4% in gravity recovery • Potential to grow resource, mine plan and financials: • Add shallow ounces by extending Star of Mangaroon • Test underground mining potential ASX.DRE 26 Jul 2024 Consolidation, Growth & Commercialisation ASX.DRE 1 Nov 2023 Gold Drilling Commenced at Star of Mangaroon ASX.DRE 22 Jan 2024 Star of Mangaroon Extended ASX:DRE 6 Star of Mangaroon and Popeye – Adding shallow high-grade ounces within the pit and immediately along strike ASX.DRE 27 Nov 2024 Shallow, High-grade, 84% Indicated Au Resource ASX.DRE 28 Jan 2025 Robust Scoping Study for Star of Mangaroon ASX.DRE 5 May 2025 First Gold Drilling Program of the Year Completed ASX:DRE 7 Pathway to Production September 2024 Quarter December 2024 Quarter March 2025 Quarter June 2025 Quarter September 2025 Quarter December 2025 Quarter Technical Studies, Environmental and Heritage Surveys (approvals work) Work Plan Focus 1. 2. 3. 4. Finalise Mining Proposals and Mine Closure Plans Finalise Mining, Haulage and Processing Agreements Update Resource and Mine Plan Commence Mining once all approvals and agreements in place ASX:DRE 8 Finding more gold, faster Exploration and Discovery ASX:DRE 9 Underexplored Mangaroon vs Mature Brownfield (same scale) Open file Data ~1990s-2017 Mangaroon Mangaroon Kalgoorlie ASX:DRE 10 Five camp scale prospects defined by stream sediments Ongoing soils to continue generating and defining drill targets High Range North ~17km x 5km Midnight Star Target Cullens Target High Range South ~11km x 4km Midday Moon Target Star of Mangaroon 23.3koz @ 12.8g/t Au Star of Mangaroon 23.3koz @ 12.8g/t Au Steve’s Reward Target Linkage Faults Bordah ~13km x 7km >90kms of mineralised structure undercover Lightening Ridge Working Minga Bar ~75km x 2km Minga Bar Fault Edmund Fault >60kms of mineralised structure undercover Nina Target ASX.DRE 30 Jan 2025 Further Consolidation and High-Grade Gold at Mangaroon ASX.DRE 18 Mar 2025 High Grade Gold Lode Extended >80kms of mineralised structure undercover ASX:DRE 11 Walk up drill targets defined by Dreadnought in an emerging gold camp Midnight Star Target 3,000m x 400m gold in soil anomaly Never drilled Midday Moon Target 2,800m x 800m gold in soil anomaly Rock chips up to 3.1g/t Au Never drilled Pritchard Gold Mine Cullens Historical alluvial and hard rock mining Drilled 2003: 3m @ 10.0g/t Au from 65m 400m x 300m gold in soil anomaly Drilled 1986: 3m @ 6.5g/t Au from 26m including 1m @ 16.2g/t Au from 28m Hudson Trend 6,000m x 700m gold in soil anomaly Nail Lead Gold Mine 1,700m x 300m gold in soil anomaly Never drilled Historical alluvial and hard rock mining DRE 2023: 2m @ 3.8g/t Au from 25m Steve’s Reward Star of Mangaroon 2,600m x 600m gold in soil anomaly DRE 2025: 4m @ 4.1g/t Au ASX.DRE 25 Nov 2020 Mangaroon Ni-Cu-PGE & Au Project ASX.DRE 15 Mar 2021 Exploration Commences at Mangaroon ASX.DRE 13 Mar 2024 Star of Mangaroon Camp Scale Gold Prospect Expands ASX.DRE 18 Mar 2025 High Grade Gold Lode Extended ASX.DRE 27 Nov 2024 Shallow, High-grade, 84% Indicated Au Resource Historical hard rock mining DRE 2024: 23.3koz @ 12.8g/t Au Tiger Trend 3,600m x 500m gold in soil anomaly Popeye Historical hard rock mining DRE 2024: 3m @ 22.8g/t Au from 13m ASX:DRE 12 Illaara Gold Project Finding more gold, faster *Exploration and Discovery ASX:DRE 13 One of the most underexplored greenstone belts in the Yilgarn region Multiple mineralised shear zones never tested with air core Mt Ida – BM1, Aurenne Black Oak Longmore’s Find DRE 2020: 1m @ 100g/t Au 6m @ 0.9g/t Au 18m @ 0.3g/t Au Never followed up Metzke’s Find 14.9koz @ 6.8g/t Au Illaara Open along strike and depth Black Oak – Homestead Trend Menzies - BTR >40kms of mineralised structure undercover with major bends Never drilled Central Illaara Fault >60kms of mineralised structure undercover Never drilled SW BIF Horizon Rock chips to 42 g/t Au Eastern Horizon >40kms of mineralised structure under variable cover Never drilled Lawrence’s Find 3m @ 3.6g/t Au Never followed up ASX.DRE 31 May 2021 Drilling Results – Illaara Au-Cu-Iron Ore Project ASX.DRE 27 Apr 2021 Illaara Update and Regional Target Generation ASX.DRE 24 Jun 2019 75km Long Illaara Greenstone Belt Acquired from Newmont ASX.DRE 12 Jan 2021 Longmore’s Find Assay Results Yerilgee - CTN Davyhurst - OBM Comet Vale – GG8 ASX.DRE 16 Jul 2020 Drilling Update ASX:DRE ASX.DRE 27 Apr 2023 Initial High-Grade Gold Resource at Metzke’s Find 14 Finding more gold, faster June 2025 Quarter September 2025 Quarter Target generation (Streams, and geophysics) December 2025 Quarter March 2026 Quarter June 2026 Quarter September 2026 Quarter Target definition (soils and mapping) Work Plan Focus 1. Build pipeline of quality targets (target generation and definition) 2. Exploration drilling to deliver major discovery ASX:DRE 15 Commercialise our base and critical metal assets Money Intrusion Ni-Cu-PGE Bresnahan Cu-Zn Gifford Creek REE-Nb Carbonatite Yin REE Ironstone ASX:DRE ASX:DRE 16 $15M Farm-In and Joint Venture with Teck – Money Intrusion Ni-Cu-PGEs Major Partnership to explore the Money Intrusion • Significant Copper + Nickel Opportunity (~50/50 Cu-Ni Ratio): • 23m @ 0.50% Ni, 0.51% Cu from 36m including: 2m @ 3.32% Ni, 2.88% Cu from 45m (REYRC013) • 10m @ 0.36% Ni, 0.45% Cu from 76m including: 2m @ 1.15% Ni, 1.30% Cu from 78m (REYRC019) • $15M Farm-In and Joint Venture: • Teck may earn 75% interest in the Tenements by managing and sole funding A$15M of expenditure within 6.5 years (“Farm-In Period”) including a firm commitment of A$1M within the first 18 months. • Joint Venture: Upon completion of the Farm-In, Teck and Dreadnought would form a 75/25 joint venture. • Teck to manage all exploration • Agreement aligned with Dreadnoughts gold focused strategy: • Continued low risk exposure to base metal potential • No impact on key gold prospects ASX.DRE 1 May 2025 $15M Farm-In and JV Agreement – Money Intrusion ASX:DRE 17 Gifford Creek Carbonatite Complex Significant Critical Metal Potential • The Gifford Creek Carbonatite Complex is one of the largest carbonatite complexes in the world, stretching 17km. • Wide spaced drilling has identified multiple zones of critical metal (rare earth, niobium, titanium, phosphate and scandium) mineralisation. • Close to existing and shared infrastructure. Proven Rare Earth Mineralisation • 29.98Mt @ 1.04% TREO at the Yin Ironstone Complex (87% M+I) • Commercial monazite concentrate and mixed rare earth carbonates (MREC) created • 10.84Mt @ 1.00% TREO and 0.22% Nb2O5 at C3 (100% Inferred) Proven Niobium Mineralisation • Multiple zones of mineralisation already identified with exploration target estimated: • 15 – 60Mt @ 0.5% – 1.0% Nb2O5 • Mineralogical test work confirms pyrochlore mineralisation across Stinger Critical Metal Mineralisation • CBRC200: 95m @ 0.9% Nb2O5 from 48m, incl. 8m @ 1.7% Nb2O5 from 72m • CBRC148: 43m @ 11.9% P2O5 from 87m, incl. 24m @ 14.5% P2O5 from 105m • CBRC138: 12m @ 319ppm Sc from 48m and CBRC125: 10m @ 270ppm Sc from 18m • CBRC086: 72m @ 8.6% TiO2 from 12m, incl. 6m @ 12.8% TiO2 from 66m • CBRC200: 66m @ 1.0% ZrO2 from 72m ASX.DRE 19 Aug 2024 Thick High-Grade Niobium Intercepts from Gifford Creek Carbonatite ASX.DRE 3 Mar 2025 Stinger Niobium Exploration Target ASX:DRE 18 It’s always darkest before the dawn, and the sun is rising. Develop the high-grade Star of Mangaroon and generate cashflow Add short term production ounces to generate more cashflow Generate and define targets for discovery at Mangaroon and Illaara Commercialise our base metal and critical metal assets: - Money Intrusion Ni-Cu-PGE Farm-In with Teck - Bresnahan Cu-Zn Farm-In with Teck - Gifford Creek Carbonatite REE, Nb, Ti, Sc, Zr - Yin REE Ironstones ASX:DRE 19 Finding more gold, faster ASX:DRE | Dreadnought Resources Ltd +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court, Osborne Park WA 6017 Sign up to our Investor Hub to receive the latest news, updates and announcements. dreadnoughtresources.com.au ASX:DRE 20 Disclaimer Refer to Dreadnought announcements for JORC Table 1 and Table 2 for results and information contained in this presentation. Mangaroon Project 7 April 2021 Option/JV Agreement Signed with Global Base Metal Miner 16 July 2021 ~1km Long Gossanous Ni-Cu-PGE Outcrop at Mangaroon 19 July 2021 High-Grade REE Ironstones Confirmed Over 2.5kms at Mangaroon 1 September 2021 Encouraging Results for Rare Earths at Yin 9 September 2021 Four New REE Ironstones Discovered at Mangaroon 2 February 2022 Rare Earths, Phosphate, Niobium & Zirconium Results from Mangaroon 14 February 2022 Conductors Defined along the Money Intrusion – Mangaroon FQM JV 16 June 2022 First Drilling at Yin Intersects High-Grade Rare Earths 28 July 2022 Assays Confirm Yin as a High-Grade Rare Earth Discovery 5 September 2022 Further Assays Confirm Yin as A Significant REE Discovery 12 October 2022 Broad, High-Grade Assays at Yin REE Discovery – Mangaroon 17 October 2022 Mineralised Carbonatites Discovered at C3 and C4 – Mangaroon 24 October 2022 Broad, High-Grade Assays at Yin REE Discovery – Mangaroon 10 November 2022 Exploration Update Mangaroon Ni-Cu-PGE 21 November 2022 Broad, High-Grade Assays at Yin REE Discovery – Mangaroon 28 December 2022 Initial High-Grade, Independent Resource Over 3kms at Yin 24 January 2023 Carbonatite Discovery Shaping up as Regional Rare Earth Source 27 January 2023 Mineralised REE Ironstones increased by 13kms to 43kms 13 February 2023 Rare Earth Ironstone Exploration Target Defined 13 March 2023 Successful Yin Extensional Drilling Results – Mangaroon 3 April 2023 Carbonatites deliver thick near surface REE Results 29 May 2023 Metallurgical Test work Supports High Grade Concentrate 6 June 2023 Mangaroon Gold Review and Further Consolidation 13 June 2023 Yin Extended by 1km & 2.5km of High Grade NdPr Discoveries 5 July 2023 40% Increase in Resource Tonnage at Yin 10 July 2023 High Grade Rare Earth & Niobium Zones at C3 & C5 13 September 2023 Highest Grades to date from Yin Infill Drilling 2 October 2023 Mangaroon Carbonatite now >17km – Higher Grade Zones Fiingerprinted 16 October 2023 100m Thick Rare Earth Intercepts from Yin 30 November 2023 Large, High Confidence Yin Ironstone Resource 6 December 2023 Gifford Creek REE-Nb-P-Ti-Sc Carbonatite Drilling Update 11 December 2023 Thick, High-Grade Gold Including 7m @ 23.0g/t Au 22 January 2024 Star of Mangaroon Extended 6 June 2024 Gifford Creek REE-Nb Carbonatite Update 18 June 2024 Tiger Cu-Au-Zn-Ag Gossan Confirmed over 500m 19 June 2024 Drilling Extended for Nb-REE and Cu-Au Targets 26 July 2024 Strategic & Prospective Consolidation 26 July 2024 Consolidation, Growth & Commercialisation 1 October 2024 Shallow, High-Grades at Star of Mangaroon & Popeye 14 October 2024 Exceptional Gold Recoveries from Star of Mangaroon 27 November 2024 Shallow, High-Grade, 84% Indicated Au Resource 28 January 2025 Robust Scoping Study for Star of Mangaroon 30 January 2025 Further Consolidation and High-Grade Gold at Mangaroon 18 March 2025 High Grade Gold Lode Extended Central Yilgarn Project 27 April 2021 Illaara Update and Regional Target Generation 31 May 2021 Drilling Results – Illaara Au-Cu-Iron Ore Project 7 July 2021 High-Grade Tantalum Results from Peggy Sue – Illaara Project 1 August 2022 Completion of Acquisition – Central Yilgarn Project 1 November 2022 Successful Drill Results Across Multiple Metals 27 April 2022 Initial High-Grade Resource at Metzke’s Find 8 February 2024 Seven Camp Scale Gold Prospects at Central Yilgarn This presentation has been prepared by Dreadnought Resources Limited (Dreadnought or the Company). It contains general information about the Company’s activities current as at the date of the presentation. The information is provided in summary form and does not purport to be complete. This presentation is not to be distributed (nor taken to have been distributed) to any persons in any jurisdictions to whom an offer or solicitation to buy shares in the Company would be unlawful. Any recipient of the presentation should observe any such restrictions on the distribution of this presentation and warrants to the Company that the receipt of the presentation is not unlawful. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation or any information, opinions or conclusions expressed in the course of this presentation. This presentation is not a prospectus, product disclosure document or other offering document under Australian law or under any other law. It has been prepared for information purposes only. This presentation contains general summary information and does not take into account the investment objectives, financial situation and particular needs of any individual investor. It is not financial product advice and investors should obtain their own independent advice from qualified financial advisors having regard to their objectives, financial situation and needs. Dreadnought nor any of their related bodies corporate is licensed to provide financial product advice. This presentation and information, opinions or conclusions expressed in the course of this presentation 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. You should not act or refrain from acting in reliance on this presentation, or any information, opinions or conclusions expressed in the course of this presentation. This presentation does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the prospects of Dreadnought. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision. Recipients of this presentation must undertake their own due diligence and make their own assumptions in respect of the information contained in this presentation and should obtain independent professional advice before making any decision based on the information. No representation or warranty, express or implied, is made in relation to the fairness, accuracy or completeness of the information, opinions and conclusions expressed in the course of this presentation. To the maximum extent permitted by law, no representation, warranty or undertaking, express or implied, is made and, to the maximum extent permitted by law, no responsibility or liability is accepted by the Company or any of its officers, employees, agents or consultants or any other person as to the adequacy, accuracy, completeness or reasonableness of the information in this presentation. To the maximum extent permitted by law, no responsibility for any errors or omissions from this presentation whether arising out of negligence or otherwise is accepted. An investment in the shares of the Company is to be considered highly speculative. The exploration targets or conceptual exploration targets in this presentation or expressed during the course of this presentation are subject to completion of the necessary feasibility studies, permitting and execution of all necessary infrastructure agreements. This presentation and information, opinions or conclusions expressed in the course of this presentation should be read in conjunction with Dreadnought's other periodic and continuous disclosure announcements lodged with the ASX, which are available on the Dreadnought website. They involve risk and uncertainties that could cause actual results to differ from estimated results. Forward-looking statements include, but are not limited to, statements concerning the Company’s exploration programme, outlook and target sizes. They include statements preceded by words such as “potential”, “target”, “scheduled”, “planned”, “estimate”, “possible”, “future”, “prospective” and similar expressions. Competent Person’s Statement The information in this announcement that relates to geology and exploration results and planning 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 report of the matters based on the information in the form and context in which it appears. The Company confirms that it is not aware of any new information or data that materially affects the information in the original market announcements by Dreadnought Resources Limited referenced in this presentation, 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. ASX:DRE 21 Annexure – Resources Summary ASX:DRE 22