Announcement PDF ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 ASX ANNOUNCEMENT 27 March 2024 Drilling and Geophysical Results from Tarraji-Yampi (80%, 100%) HIGHLIGHTS • Assays and downhole EM (“DHEM”) results have been received for 11 RC holes (1,289m) and 2 diamond holes (530.3m) drilled at Tarraji-Yampi in late 2023 delivering additional mineralisation and significant geological understanding for the project. • EIS co-funded diamond holes (KMRD056 and KMRD057) intersected laminated, brecciated and semi-massive sulphides extending mineralisation at the Orion deposit a further 100m down dip and remaining open at depth and along strike. Significant intercepts include: KMRD057: 4.20m @ 1.0% Cu, 15.1g/t Ag, and 0.01% Co from 213m and 0.42m @ 1.1% Cu, 2.7% Zn, 80g/t Ag and 4.1g/t Au from 257.82m KMRD056: 1.35m @ 1.0% Cu, 0.01% Co from 198.6m • Modeling of DHEM results from KMRD056 shows a conductive horizon that sits within a larger (300m x 230m) and highly conductive (25,800S) horizon that extends to the 500m depth of the Orion geophysical anomaly. • 7 RC holes testing EM conductors intersected mineralisation comparable to that seen around the fringes of Orion. DHEM confirmed off-hole and edge-hit anomalies, including KMRC060 which has a strong 70m x 200m, 16,700S off-hole conductor and a significant intercept indicative of the fringe of a VMS lode including: KMRC060: 2m @ 0.4% Pb, 0.1% Zn and 16.6g/t Ag from 106m • 2 RC holes into the Ironclad target intersected quartz-sulphide veining along a significant structure, similar to the Grant’s Find Cu-Au-Co deposit with intercepts including: KMRC059: 1m @ 2.2% Cu, 0.83% Co and 0.4g/t Au from 24m Dreadnought Resources Limited (“Dreadnought”) is pleased to announce assay and geophysical results from RC and diamond drilling at the Tarraji-Yampi Project, located in the Kimberley Region of Western Australia. Dreadnought’s Managing Director, Dean Tuck, commented: “The 2023 drilling program in the Kimberley was challenging and cut short due to unseasonable weather, bush fires and rig breakdowns. However, the program still delivered an extension to the Orion mineralisation and confirming mineralisation and or identifying significant off hole conductors from many of the holes drilled. And, thanks to the GSWA’s co-funded Exploration Incentive Scheme diamond holes drilled at Orion, there has been significant advancements in the understanding of the mineral systems active at Tarraji-Yampi including that Orion is a Cu-Au-VMS system, similar to Degrussa in the Bryah Basin, which will improve our targeting and follow up programs. The program remains largely incomplete as originally intended and we look forward to applying our learnings and prioritizing targets for testing in 2024. Figure 1: Photo of the RC rig with heavy smoke obscuring the sun due to bush fires within the project area. dreadnoughtresources.com.au 1 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 SNAPSHOT – Tarraji-Yampi Cu-Au-Ag-Co Unexplored since the 1970s • Outcropping mineralisation was discovered in 1905 and mined for copper at Grant’s Find, Wilson’s Reward, Monarch, Ironclad and Tarraji from 1907-1920. • Only historical exploration within the area was by WMC Resources (“WMC”) in the 1950s and Australian Consolidated Minerals (“ACM”) in the 1970s, with both parties exploring for copper. • Contained entirely within the Yampi Sound Training Area (“YSTA”), Commonwealth land was off limits to mineral exploration from 1978 to 2013. Genuine Camp Scale Potential • Five clusters of historical mining on outcropping mineralisation. • Orion discovery (~350m wide x ~150m long x 250m deep and modelled to at least 500m deep), under just 1m of cover, made in 2021. Results include KMRC022: 16m @ 2.2% Cu, 38.7g/t Ag, 6.6g/t Au, 0.40% Co from 77m (ASX 15 Nov 2021). • 13 additional Orion look-alikes defined through geochemical and geophysical surveys including 5 with known outcropping mineralisation, and 6 with coincident highly conductive bodies. • Lithostructural and geochemical similarities to pelitic-mafic or “Besshi-style” VMS systems such as Degrussa in Western Australia, Windy Craggy in Canada or the Matchless deposits in Namibia. Significant, Step-Change, Growth Potential • Dreadnought is the first explorer to deploy modern geochemical and geophysical techniques to explore for mineralisation under shallow cover in the region. High-Grade, Multi-Metal Potential Including Cu-Ag-Au-Co • Previous drilling at Orion includes thick high-grade intersections (ASX 15 Nov 2021): KMRC022: 16m @ 2.2% Cu, 38.7g/t Ag, 6.6g/t Au, 0.40% Co from 77m, including: 2m @ <0.1% Cu, 4.8 g/t Ag, 27.6g/t Au, 1.50% Co from 77m, and: 7m @ 4.7% Cu, 83.3g/t Ag, 4.9g/t Au, 0.20% Co from 82m KMRC039: 20m @ 1.4% Cu, 13.4g/t Ag, 3m @ 7.6% Cu, 116g/t Ag, KMRC047: 12m @ 3.0% Cu, 21.4g/t Ag, 5m @ 0.5g/t Au, 0.03% Co from 3m, including: 2.2 g/t Au, 0.14% Co from 18m 1.7g/t Au, 0.02% Co from 1m, including: 5.9% Cu, 44.9 g/t Ag, 3.7g/t Au, 0.01% Co from 1m Global Energy Decarbonisation Driving Copper Fundamentals • Copper is essential for electricity-related technologies with renewable energy systems requiring up to 12x more copper compared to traditional energy systems. • S&P Global forecasts that global demand for copper could double by 2035, from 25mt to 50mt. Under this scenario, by 2030, supply from both existing and projected copper mines will meet just 80% of demand (S&P Global: The Future of Copper, July 2022). dreadnoughtresources.com.au 2 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Technical Discussion of RC and Diamond Drilling The 2023 RC and diamond drilling program aimed to achieve two main objectives: - Prove the scale potential of Cu-Ag-Au-Co mineralisation at Tarraji-Yampi through the discovery of additional massive sulphide bodies. - Test the depth extents of Orion where geophysical modelling shows mineralisation continues to >500m and gets stronger at depth. Drilling was co-funded by the highly successful Exploration Incentive Scheme from the Geological Survey of Western Australia (“EIS”). Unfortunately, neither of these objectives was fully achieved due to operational challenges including rig breakdowns and bush fires. However, the program has successfully confirmed that mineralisation continues for a further 100m down dip at Orion and remains open at depth and down plunge. The diamond drilling also provided insight which will allow for improved targeting and prioritisation. Further details regarding the results of each drill hole is outlined below. Figure 2: Plan view image showing the location of drilled (red dots) and yet to be drilled holes (blue dots) at Orion and Thunderer in relation to auger geochemistry over an ortho image. dreadnoughtresources.com.au 3 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Orion (KMRD056 and KMRD057) At Orion, 2 diamond holes were drilled to test the fixed loop EM (“FLEM”) plate at depth. KMRD056 was drilled into the southern edge of the plate and intersected laminated to brecciated sulphides including 1.35m @ 1.0% Cu, 0.01% Co from 198.6m and a second zone of mineralisation of 4m @ 0.1% Cu, 0.4% Zn, 0.1% Pb and 0.2g/t Au from 245m near the target depth of the plate. Modeling of DHEM results from KMRD056 shows a conductive horizon that sits within a larger (300m x 230m) and highly conductive (25,800S) horizon that extends to the 500m depth of the Orion geophysical anomaly. KMRD057 was drilled into the centre of the FLEM plate and also intersected two zones of mineralisation including 4.2m @ 1.0% Cu, 15.1g/t Ag, and 0.01% Co from 213m and 9m @ 0.2% Cu, 0.3% Zn, 0.1% Pb, 12.3g/t Ag and 0.5g/t Au from 252m including 0.42m @ 1.1% Cu, 2.7% Zn, 0.5% Pb 80g/t Ag and 4.1g/t Au from 257.82m depth. A DHEM survey on KMRD057 was unable to be conducted due to a collapsed hole. The upper zone of mineralisation in both holes may represent an emerging second VMS horizon or an epithermal overprint (similar to Grant’s Find) that warrants further testing at depth and along strike. Some of the thickest and highest-grade mineralisation at Orion to date has been drilled within an upper magnetic anomaly, indicating the magnetic anomalism may be related to thicker or stronger mineralisation. A planned deeper diamond hole to test the magnetic anomaly and the EM plates at depth was not drilled due to the threat of fire. This anomaly remains a high priority target for extending mineralisation at Orion to depth (Figure 3). Figure 3: Long section image of Orion showing the location of recently drilled (red dots) in relation to previous drilling (white dots) and magnetic anomalies which appear to be associated with a thicker core of high-grade mineralisation. dreadnoughtresources.com.au 4 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Figure 4: Orion cross section image showing KMRD056 in relation to previous drilling and multiple mineralised lodes. Figure 5: Orion cross section image showing KMRD057 in relation to previous drilling and multiple mineralised lodes. dreadnoughtresources.com.au 5 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Orion Look-alikes (KMRC060 - KMRC064) In addition, 4 effective RC holes were drilled at Orion look-alike targets (OR1, OR2, OR4 and OR7). KMRC060 was drilled OR2 being a coincident geochemical and conductive geophysical anomaly (220m x 245m x 4,590S). Drilling intersected 2m @ 0.4% Pb, 0.1% Zn and 16.6g/t Ag from 106m which is indicative of the fringes of a VMS horizon. DHEM produced a 70m x 200m 16,700S edge-hit / off-hole conductor at ~105m supporting the interpretation that KMRC060 as a near miss with a strong 16,700S conductor to test with follow up drilling. KMRC061 was drilled at OR7 intersected 1m @ 1.75% Zn, 0.1% Pb from 81m and a second interval from 89-90m which intersected 0.2% Zn and 4.7g/t Ag both geochemically indicative of an exhalative horizon. A DHEM survey on KMRC061 indicates a broad (735m x 135m 6,070S) conductor with an even stronger off-hole response at 90m depth located north and at depth. KMRC062 was drilled to test OR1 which is defined as a strong geochemical anomaly situated along an interpreted cross cutting fault from Orion. Drilling intersected no mineralisation, however, a strong 105m x 40m and 7,210S off hole conductor was identified to the south at ~120m depth. Given the proximity of this conductor to Orion and interpreted association with a primary controlling structure, this target effectively remains untested. KMRC063 was drilled to test OR4 being a coincident geochemical and geophysical anomaly with a weakly mineralised subcropping gossan. No significant mineralisation was intersected. However, three edgehit / off-hole conductors were intersected at 105m depth (140m x 290m, 7,900S), 125m depth (55m x 58m, 9,500S) and 185m depth (55m x 58m, 9,500S). Each of these horizons is associated with pathfinder (Ba, Cd, In, Mo, Tl) anomalism potentially indicative of an exhalative horizon. Figure 6: Plan view image showing the location of drilled (red dots) and previous drill holes (black dots) at Orion in relation to prospects, geochemical contours and FLEM imagery. dreadnoughtresources.com.au 6 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Ironclad (KMRC058 - KMRC059) At Ironclad, 2 holes were drilled to test for chalcopyrite-rich vein hosted mineralisation along a major structure with sporadic outcropping mineralisation. Both holes intersected mineralised quartz-sulphide veins potentially analogous to the epithermal mineralisation seen at Grant’s Find with significant intercepts including: KMRC059: 1m @ 2.2% Cu, 0.83% Co and 0.4 g/t Au from 24m KMRC058: 1m @ 0.5% Cu, 0.34% Co and 0.1g/t Au from 26m This drilling confirms mineralisation associated with a major structural trend that runs for ~4km between Orion and the Rough Triangle target. The dip of the mineralised structure was shallower than originally interpreted and may be suitable for IP surveys. Thunderer (KMRC052 - KMRC055) A total of 3 effective RC holes were drilled to test EM plates at Thunderer East and a mineralised quartz vein at Thunderer North. KMRC052 at Thunderer North intersected a mineralised quartz vein returning 3m @ 0.26% Co. The hole has not explained the outcropping Cu, Ag and Au mineralisation. The limited strike extent of the outcrop and lack of significant mineralisation means that this target is considered tested for now. Of the other 2 effective holes: KMRC054 intersected no significant mineralisation or off-hole conductor; and KMRC053 intersected anomalous pathfinder (Ba, Cd, In, Mo, Tl) mineralisation indicative of a near miss with a coincident off-hole conductor of 160m x 260m and 4,800S. Figure 7: Plan view image showing the location of drilled (red dots) at Thunderer in relation to geochemical contours, rock chips and FLEM imagery. dreadnoughtresources.com.au 7 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Target Review (New Learnings and New Models) The diamond drilling at Orion (2023) and Grant’s Find (2019) was recently reviewed by leading consulting geologist Gerard Tripp and concluded that two distinct styles of mineralisation are present at Tarraji-Yampi, being Proterozoic Cu-Au+/-Zn-Ag-Pb VMS (similar to DeGrussa) and younger epithermal Cu-Au-Co mineralisation (similar to Thaduna / Green Dragon near Degrussa). The confirmation of Orion as a VMS system significantly changes the interpretation of the area, the targets, and tools available to explore these systems. In particular, geochemical zonation and the ability to fingerprint exhalative horizons as well as the recognition that these deposits can have complex geometries and form multiple lodes and within camps of several deposits. These new findings will be integrated into a review of the data to date and will likely result in an updating of the targets and allow for prioritisation of targets. Furthermore, the identification of epithermal mineralisation opens up the opportunity to trial additional geophysical techniques such as IP to identify additional Grant’s Find style mineralisation undercover. This review is expected to be completed by June 2024. A summary of currently defined targets and their status is below. Table 1: Description of the current 14 Orion look-alikes, subject to review (GDA94 MGA z51). Target ID Strike (m) Width (m) (Cu+Pb+Zn+As) Strike (m) Dip (m) Conductance (S) Magnetic Anomaly Outcropping Mineralisation Orion 350 150 1,418 ppm 425 315 4,146 Yes No Ironclad 1,550 150 2,750 ppm Not Surveyed No Yes OR1 300 150 2,566 ppm Weak or Masked No Under Cover OR2 300 150 1,170 ppm 220 245 4,590 Yes Under Cover OR3 420 130 1,380 ppm 540 375 3,170 Yes Under Cover OR4 780 200 1,244 ppm 510 370 3,320 Yes Yes OR5 OR6 400 350 200 100 1,069 ppm 941 ppm Not Surveyed Not Surveyed Yes Yes Under Cover Under Cover OR7 580 100 985 ppm 410 290 4,200 Yes Under Cover OR8 1,500 200 953 ppm 300 220 660 No Under Cover Thunderer East 450 150 1,496 ppm 340 215 2,590 No Yes 500 100 1,205 ppm 400 600 2,590 Yes Yes 200 80 520 ppm 300 470 180 Thunderer West Thunderer North Vanguard Neptune* Peak Value** 500 40 579 ppm Not Surveyed N/A* N/A* 1,221 ppm* Not Surveyed * Auger program over Neptune <25% complete dreadnoughtresources.com.au Target Status Tested KMRD056-057 Mineralisation extended Tested KMRC058-059 Mineralisation confirmed KMRC062 Off-hole Conductor 105m x 40m, 7,210S KMRC060 Off-hole Conductor 70m x 200m, 16,700S Not Tested KMRC063 Off-hole Conductors 140m x 290m, 7,900S 55m x 58m, 9,500S 55m x 58m, 9,500S Not Drilled Not Drilled KMRC061 Off-hole Conductor 735m x 130m, 6,070S Not Drilled KMRC053 Off hole Conductor 160m x 260m, 4,800S Not Drilled Tested KMRC052 Yes Yes Not Drilled Yes Under Cover Not Drilled **Background value ~80ppm Cu+Pb+Zn+As Yes Yes 8 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Background of the 2023 Cu-Au-Ag-Co Drilling Program Tarraji-Yampi was off limits to exploration from 1978-2013; a period that saw over 50% of Australia’s mineral deposits discovered through the application of modern geophysical and geochemical techniques and an evolving understanding of mineral systems. The region is known to contain outcropping quartz copper-gold lodes that were mined for copper on a small scale in the early 1900s and explored briefly by WMC in 1958 and ACM in 1972. The area has lithostructural and geochemical similarities to pelitic-mafic or “Besshi-style” VMS systems such as Degrussa in Western Australia, Windy Craggy in Canada or the Matchless deposits in Namibia. Dreadnought, for the first ever time, is applying modern exploration techniques and knowledge to discover mineralisation in this highly prospective terrain. In 2021, Dreadnought tested one of its first undercover geophysical targets at Orion intersecting (ASX 25 Aug 2021): KMRC017: 12m @ 1.6% Cu, 31.7g/t Ag, 0.5g/t Au, 0.02% Co from 45m This was quickly followed up by additional drilling confirming mineralisation to be ~350m wide x ~150m long, modelled to at least 500m deep and open down dip. Significant intercepts include (ASX 15 Nov 2021): KMRC022: 16m @ 2.2% Cu, 38.7g/t Ag, 6.6g/t Au, 0.40% Co from 77m, including: 2m @ <0.1% Cu, 4.8 g/t Ag, 27.6g/t Au, 1.50% Co from 77m, and: 7m @ 4.7% Cu, 83.3g/t Ag, 4.9g/t Au, 0.20% Co from 82m KMRC039: 20m @ 1.4% Cu, 13.4g/t Ag, 3m @ 7.6% Cu, 116g/t Ag, KMRC047: 12m @ 3.0% Cu, 21.4g/t Ag, 5m @ 0.5g/t Au, 0.03% Co from 3m, including: 2.2 g/t Au, 0.14% Co from 18m 1.7g/t Au, 0.02% Co from 1m, including: 5.9% Cu, 44.9 g/t Ag, 3.7g/t Au, 0.01% Co from 1m In addition, it was determined that the black plain soil at Orion was only 1-9m thick instead of the 30-40m originally interpreted. This made for the application of auger sampling to provide a geochemical dataset to the geophysical datasets utilised to date. Since 2021, over 2,600 auger samples have been collected across Tarraji-Yampi. The auger geochemical dataset has been transformational in understanding the lithostructural setting at Tarraji-Yampi and has resulted in the definition of 14 Orion look-alikes with strong coincident geochemical and geophysical anomalies, with 5 containing outcropping gossans. Figure 8: Image of the Topdrill diamond rig drilling at Orion. dreadnoughtresources.com.au 9 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Background on Tarraji-Yampi (E04/2508, E04/2557, E04/2608, E04/2860, E04/2861, E04/2862, E04/2863: 100%, E04/2315: 80%) Tarraji-Yampi is located entirely within the Yampi Sound Training Area (“YSTA”), a Commonwealth Defence Reserve in the West Kimberley, ~80kms from the port of Derby. The YSTA is the second largest Defence Reserve in Australia after Woomera in South Australia and was off limits to mineral exploration from 1978 to 2013. The only significant exploration undertaken in the area was by WMC Resources in 1958 and Australian Consolidated Minerals in 1972, with both parties exploring for copper. Since opening for exploration in 2013, Dreadnought has secured the largest ground holding within the YSTA and developed strong working relationships with both the Department of Defence and the Dambimangari People. Figure 9: Plan view image showing the location of Cu-Au and VMS prospects over geological interpretation at Tarraji-Yampi. dreadnoughtresources.com.au 10 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 For further information please refer to previous ASX announcements: • 25 August 2021 RC Results from Orion, Grant’s & Fuso Indicate a large Cu-Au-Ag-Co System • 11 October 2021 Massive Sulphides Intersected in Multiple Holes at Orion Cu-Au-Ag-Co • 2 November 2021 Supergene Confirmed and Massive Sulphides Extended at Orion • 15 November 2021 High-Grade Cu-Ag-Au-Co Discovery at Orion • 8 December 2021 Further High-Grade Cu-Ag-Au-Co from Orion Discovery • 22 June 2022 Orion Auger Program – Tarraji-Yampi Project • 15 August 2022 Nine Orion Look-alikes from Auger Program, More to Come • 3 October 2022 Commencement of Regional Auger Program • 18 May 2023 Additional Orion Look-Alikes from Auger Program • 24 October 2023 Drilling and Geophysical Surveys Completed at Tarraji-Yampi UPCOMING NEWSFLOW April: Commencement of RC drilling at Central Yilgarn Au (100%) April: Update on Ni-Cu-Co-PGE IP survey at Mangaroon (100%) April: Quarterly Activities and Cashflow Report April/May: Results of surface sampling programs at Mangaroon Au (100%) April/May: Commencement of further target generation and definition work at Mangaroon Au (100%) May/June: Assay results from RC drilling at Central Yilgarn Au (100%) May: Commencement of RC drilling at Mangaroon Au (100%) ~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. dreadnoughtresources.com.au 11 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 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. Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. 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 new information or data that materially affects the information in the original reports, and that the forma and context in which the Competent Person’s findings are presented have not been materially modified from the original reports. Figure 10: Photo of Senior Geologists Kevin Rose (L) and Nick Chapman (R) logging diamond core at Tarraji. dreadnoughtresources.com.au 12 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 INVESTMENT HIGHLIGHTS Kimberley Ni-Cu-Au Project (80/100%) The project is located only 85kms 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 historic workings which have seen no modern exploration. Results to date indicate that there may be a related, large scale, Proterozoic Cu-Au VMS and epithermal system at Tarraji-Yampi, similar to Degrussa and Thaduna/Green Dragon. Mangaroon Au, Ni-Cu-Co-3PGE & REEs 100% Project Mangaroon covers ~5,000kms2 and is located 250kms south-east of Exmouth in the Gascoyne Region of WA. At the Money Ni-Cu-Co-3PGE has been identified and is subject to an earn-in by First Quantum Minerals (up to 70%). Dreadnought also has areas of outcropping highgrade gold including the historic Star of Mangaroon and Diamonds gold mines. In addition, Mangaroon has emerged as a globally significant, rapidly growing, potential source of critical minerals. Highlights include: - An Exploration Target estimated for the top 150m of ~40km of the Yin REE Ironstone Complex (ASX 13 Feb 2023). - An independent Resource for Yin Ironstones Complex of 29.98Mt @ 1.04% TREO over only ~4.6kms – including a Measured and Indicated Resource of 26.3Mt @ 1.04% TREO (ASX 30 Nov 2023). - Regional source of rare earths at the Gifford Creek Carbonatite totaling ~17kms x ~1km (ASX 7 Aug 2023). - A large, independent initial Resource of 10.84Mt @ 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). Bresnahan HREE-Au-U Project (100%) Bresnahan is located ~125km southwest of Newman in the Ashburton Basin. The project comprises >3,700kms2 covering over 200kms strike along the Bresnahan Basin / Wyloo Group unconformity. Bresnahan is prospective for unconformity related heavy rare earth (“HREE”) deposits similar to Browns Range HREE deposits, unconformity and channel-hosted uranium (“U”) deposits and mesothermal lode gold similar to Paulsens Au-Ag-Sb deposits along strike. Prior to consolidation by Dreadnought, the Bresnahan Basin had been successfully explored for unconformity uranium with limited exploration for mesothermal gold. Bresnahan is a first mover opportunity to explore for unconformity HREE. Central Yilgarn Gold, Base Metals, Critical Minerals & Iron Ore Project (100%) Central Yilgarn is located ~190km northwest of Kalgoorlie in the Yilgarn Craton. The project comprises ~1,400kms2 covering ~150km of strike along the majority of the Illaara, Yerilgee, South Elvire and Evanston greenstone belts. Central Yilgarn is prospective for typical Archean mesothermal lode gold deposits, VMS base metals, komatiitehosted nickel sulphides and critical metals including Lithium-Cesium-Tantalum. Prior to consolidation by Dreadnought, the Central Yilgarn was predominantly held by iron ore explorers and remains highly prospective for iron ore. dreadnoughtresources.com.au 13 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Table 2: Significant Results (>0.2% Cu, Co, Pb, Zn, >0.2g/t Au) From To Interval Sample Cu Hole ID (m) (m) (m) Type (%) 36 39 3 1m split KMRC052 198.60 199.95 1.35 Half core 1.0 KMRD056 245.00 249.00 4.00 Half core 0.1 and 246.61 247.00 0.39 Half core 0.2 Incl. 213.00 217.20 4.20 Half core 1.0 KMRC057 215.39 217.20 1.81 Half core 2.1 Incl. 252 261 9.00 Half core 0.2 and 257.82 258.24 0.42 Half core 1.1 Incl. 25 28 3 1m split 0.3 KMRC058 26 27 1 1m split 0.5 Incl. 7 9 2 1m split 0.2 KMRC059 23 27 4 1m split 0.7 And 24 24 1 1m split 2.2 Incl. 106 108 2 1m split KMRC060 81 85 4 1m split KMRC061 81 82 1 1m split Incl. 89 90 1 1m split And 81 84 3 1m split 0.1 KMRC064 Ag (g/t) 15.1 31.5 12.3 80.0 0.5 0.4 1.0 3.3 16.6 4.7 - Table 3: Drill Collar Data (GDA94 MGAz50) Hole ID Easting Northing 626601 8161693 KMRC052 KMRC053 627038 8160676 KMRC054 626887 8160552 KMRC055 626783 8161514 KMRD056 628088 8168632 KMRD057 628115 8168710 KMRC058 626924 8167163 KMRC059 626945 8167287 KMRC060 627935 8169429 KMRC061 627785 8167707 KMRC062 627740 8168842 KMRC063 627512 8166694 KMRC064 627783 8167550 Azimuth 260 270 270 300 290 290 270 270 290 280 270 290 280 RL 54 48 48 49 66 73 69 71 70 62 68 58 60 Dip -55 -55 -60 -55 -70 -70 -55 -55 -55 -65 -55 -65 -65 Au (g/t) 0.2 0.8 0.5 4.1 0.1 0.1 0.4 - Co (%) 0.26 0.01 0.04 0.01 0..01 0.03 0.13 0.34 0.27 0.83 - EOH 63 141 120 101 229.9 300.4 87 63 174 177 153 201 109 Zn (%) 0.4 1.8 - Pb (%) 0.1 0.5 - 0.3 2.7 0.1 0.5 1.8 0.2 0.2 0.1 0.5 0.2 0.4 0.1 0.1 0.2 Type RC RC RC RC RC/DD RC/DD RC RC RC RC RC RC RC Prospect Thunderer Orion Ironclad OR2 OR8 OR3 Prospect Thunderer North Thunderer East Thunderer East Thunderer North Orion Ironclad OR2 OR8 OR1 OR4 OR3 JORC Code, 2012 Edition – Table 1 Report Template Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.) Criteria JORC Code explanation Commentary Sampling techniques • Reverse Circulation (RC) and Diamond (DD) drilling was undertaken to produce samples for assaying. • • • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples shoul