DREADNOUGHT RESOURCES LTD — AGM Information 2007

Nov 26, 2007

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EROMANGA URANIUM

PRIMED FOR SUCCESS ANNUAL GENERAL MEETING 27 November 2007

Kevin Lines Managing Director

ANNUAL GENERAL MEETING 27 NOVEMBER 2007 1

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DISCLAIMER

This presentation contains forward looking statements that are subject to risk factors associated with the exploration and mining industry. It is believed that the expectations reflected in these statements are reasonable, but they may be effected by a variety of variables which could cause actual results or trends to differ materially.

ANNUAL GENERAL MEETING 27 NOVEMBER 2007 2

EROMANGA URANIUM

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2007 MILESTONES

• Establishment of a quality exploration team with the tools to get the job done.

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EROMANGA URANIUM ANNUAL GENERAL MEETING 27 NOVEMBER 2007 3
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2007 MILESTONES

PEOPLE

• Excellent balance of youth and uranium exploration experience.

• Strong consulting support across a broad range of geophysical and geological specialisations.

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• Adelaide based for effective management of logistics and costs.

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EROMANGA URANIUM
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2007 MILESTONES

EQUIPMENT

• Company owned down-hole geophysical logging truck built and commissioned.

• Light vehicle fleet equipped for safe and effective operations in remote terrains.

• In-house computing systems developed to industry leading standards.

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EROMANGA URANIUM
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2007 MILESTONES

• Establishment of a quality exploration team with the tools to get the job done.

• Over 22,000 line/km of airborne EM surveys completed across four major projects.

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EROMANGA URANIUM
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� Alice Springs
Illogwa Creek
Northern Territory
Queensland
Abminga
Marla �
Coober Pedy � Billa
Prominent Hill Kalina Marree
� Marree �
Beverley
Kingoonya � Olympic Dam �
South Australia
Port Augusta �
Completed Airborne EM S u rveys
Active Projects
� Port Lincoln
EROMANGA URANIUM Adelaide
0 100 km
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2007 MILESTONES

AIRBORNE EM

• Eromanga has completed the largest program of airborne EM surveying by any company in the Australian uranium exploration sector.

• These massive datasets are now a major strategic asset for the company.

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2007 MILESTONES

• Establishment of a quality exploration team with the tools to get the job done.

• Over 22,000 line/km of airborne EM surveys completed across four major projects.

• Discovery of major new palaeodrainage systems at Marree and Abminga.

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EROMANGA URANIUM ANNUAL GENERAL MEETING 27 NOVEMBER 20
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2007 MILESTONES MARREE PROJECT

MARREE PALAEODRAINAGE

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Clayton
Exploration Licence
Uranium occurrence
EL 3962 EL 3963 EL3574 Fault
Marree Palaeodrainage
Major road
Marree Track
Callana
EL3579
20km
EL3578
EL3577
30∞ S
Witchelina Nob’s Well
Yerelina
E138∞ E139∞
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Over 100 kms of channel development (ERO earning 70%)
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2007 MILESTONES
ABMINGA PROJECT
ATLAS/BACO PALAEODRAINAGE SYSTEMS
W
N
S
E
100% owned by Eromanga Uranium
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CUR13
Baco Palaeochannel
System
Atlas Palaeochannel
System
14km
2km
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2007 MILESTONES

• Establishment of a quality exploration team with the tools to get the job done.

• Over 22,000 line/km of airborne EM surveys completed across four major projects.

• Discovery of major new palaeodrainage systems at Marree and Abminga.

• Exciting new IOCG initiative in the northern Gawler Craton SA.

EROMANGA URANIUM

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Northern Gawler Craton
IOCG Project
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2007 MILESTONES NORTHERN GAWLER CRATON IOCG INITIATIVE

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EROMANGA URANIUM
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2007 MILESTONES

• Establishment of a quality exploration team with the tools to get the job done.

• Over 22,000 line/km of airborne EM surveys completed across four major projects.

• Discovery of major new palaeodrainage systems at Marree and Abminga.

• Exciting new IOCG initiative in the northern Gawler Craton SA.

• Eromanga now positioned for a dynamic 2008 with drill based exploration programs across multiple projects.

EROMANGA URANIUM

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THE FUTURE

2008 AND BEYOND

ABMINGA PROJECT SANDSTONE-HOSTED URANIUM

• Aboriginal Heritage surveys scheduled for the first half of December 2007.

• Initial rotary-mud drilling program to commence in February 2008 across the Atlas and Baco palaeodrainage systems (subject to receipt of aboriginal clearances). Over 34 km of drainage channel to test.

• Computer processing of the Abminga airborne EM dataset will continue. Only 25% of the survey has been fully analysed to-date.

• Eromanga anticipates that multiple drilling campaigns will continue at the Abminga Project throughout 2008.

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Lilla Creek
Finke THE FUTURE
Umbeara 2008 AND BEYOND
Kulgera
26∞ S Northern Territory SIGNIFICANT
South Australia UPSIDE AT
Tieyon ABMINGA
Area of preliminary
Agnes Creek Mount Irwin interpretation
Lambina
Granite Downs
27∞ S
Marla
Welbourn Hill
Wallatinna
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20km
E∞ E∞
133 134
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THE FUTURE 2008 AND BEYOND

NORTHERN GAWLER IOCG INITIATIVE

• Eromanga enjoys first mover status in the region.

• Exciting untested potential for IOCG mineralisation similar to that at Olympic Dam, Prominent Hill and Carrapateena.

• Two quality targets at Welbourn Hill and Nicholson.

• Aboriginal Heritage surveys scheduled for December 2007.

• Planned start to deep diamond drilling at Welbourn Hill in February 2008

• Ground gravity survey over Nicholson to be completed February 2008.

• Drilling at Nicholson to follow in first quarter of 2008.

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27∞ S
Nicholson
ELA387/07
ELA532/07
Welbourn Hill
EROMANGA URANIUM
ELA439/07
5km
E∞
134
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THE FUTURE 2008 AND BEYOND

WELBOURN HILL AND NICHOLSON Areas showing gravity contours over a magnetic image.

Exploration Licence Exploration Licence Application

Expect ELAs to be granted early 2008.

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THE FUTURE 2008 AND BEYOND

WELBOURN HILL GRAVITY Enhanced gravity image.

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EROMANGA URANIUM
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ELA 439/07 ELA 532/07
Proposed Diamond Drillhole
������� � Newcrest Drillhole
DDH 2DDH 2DDH 2DDH 2 ������� � WHD 2WHD 2WHD 2WHD 2
WHD 3WHD 3WHD 3WHD 3 ������� � DDH 1DDH 1DDH 1DDH 1
0 2 4 km
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THE FUTURE 2008 AND BEYOND

MARREE PROJECT

• Aboriginal Heritage survey scheduled for last week of November 2007.

• Second phase of rotary-mud drilling to commence in the first quarter of 2008 (subject to receipt of aboriginal clearances).

• Western tenements, EL3962 and EL3963, now granted with on-ground exploration commencing in early 2008.

BILLA KALINA PROJECT

• Airborne EM (AEM) survey over entire tenement holding undergoing detailed computer processing and imaging.

• Sandstone-hosted uranium targets identified by the AEM to be the focus of exploration throughout 2008.

• IOCG program to continue and will integrate new regional gravity database completed by PIRSA in late 2007.

EROMANGA URANIUM

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THE FUTURE

2008 AND BEYOND

KINGOONYA PROJECT

• AEM survey, completed in late 2007, will form the basis of ongoing exploration programs throughout 2008.

• Potential targets will include both sandstone-hosted uranium mineralisation in the upper reaches of the Kingoonya Palaeodrainage and deeper unconformity-related uranium mineralisation similar to the Alligator River province.

BUSINESS DEVELOPMENT

• Eromanga Uranium will continue to evaluate new exploration opportunities across Australia but will maintain a very clear focus towards potential projects in South Australia and the Northern Territory where our Shareholders have the best opportunity to leverage off our success.

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2007

“THE FOUNDATIONS HAVE BEEN LAID”

2008

“A DYNAMIC YEAR - PRIMED FOR SUCCESS”

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EROMANGA URANIUM