DREADNOUGHT RESOURCES LTD — AGM Information 2009

Nov 24, 2009

==> picture [181 x 120] intentionally omitted <==

25 November 2009

The Manager Company Announcements Office Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

Managing Director’s AGM Presentation

Please find attached for release to the market, the Managing Director’s Presentation to the Eromanga Uranium Limited (ERO) Annual General Meeting held 25 November 2009.

Yours faithfully

==> picture [97 x 70] intentionally omitted <==

David W Godfrey Company Secretary

PO Box 3126 Norwood 5067 South Australia

Eromanga Uranium Ltd ABN 40 119 031 864

62 Beulah Road

telephone 61 8 8132 7970 facsimile 61 8 8132 7999 email info@eromangauranium.com

Norwood 5067 South Australia

Annual General Meeting 2009 New focus - new future

Kevin Lines MANAGING DIRECTOR

==> picture [63 x 99] intentionally omitted <==

EROMANGA URANIUM

PreseNtatioN Notes

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.

competent person

The information in this PRESENTATION that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled by Mr K Lines who is a member of the Australasian Institute of Mining and Metallurgy. Mr Lines is an employee of Eromanga Uranium Limited. He has more than five years of relevant experience in the style of mineralisation and types of deposit under consideration and consents to inclusion of the information in this report in the form and context in which it appears. He qualifies as a Competent Person as defined in the 2004 Edition of the “Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves”. exploration targets

Exploration Targets are reported according to Clause 18 of the JORC Code. This means that the potential quantity and grade is conceptual in nature and that considerable further exploration, is necessary before any Identified Mineral Resource can be reported. It is uncertain if further exploration will lead to a larger, smaller or any Mineral Resource.

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

2

HigHligHts

• Major progress on gold-uranium strategy.

• Acquisition of the Georgetown Alluvial Gold Mine.

• Maiden gold production at Georgetown imminent.

• First drill testing of the exciting Nackara Arc gold anomaly starting in two weeks.

• Successful capital raising of $2.1 million showing strong shareholder support.

==> picture [294 x 468] intentionally omitted <==

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

3

CorPorate Profile

Directors

Robert Michael Kennedy (Chairman) Kevin James Lines (Managing Director) Ewan John Vickery (Non-Executive Director) Shares on issue 160.18 million (as at 23/11/2009) shareholDers 2284 Recent trading (past 3 months) Shares 5.6 – 7.6 cents Market Capitalisation $8.97-12.17 million

Top shareholders Maximus Resources 44.61 million shares (27.85%) Director’s interests 12.99 million shares (8.11%)

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

4

strategy

• Re-align property portfolio from uranium only to a dual focus on uranium and gold.

• 2009 priority on acquiring gold exploration assets.

• Acquire producing gold asset with potential to generate strong positive cash-flows.

• Medium term focus on exploration for both uranium and gold, funded from mine cashflows.

• Continue to build gold/uranium exploration portfolio with geographic emphasis on SA, NT and QLD.

==> picture [294 x 468] intentionally omitted <==

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

5

loCatioN of ProjeCts

NT Ge ~~o~~ rgetown Supl ~~e~~ jack QLD NT WA Eromanga Basin WA QLD Abminga/Welbourn Hill SA SA Kingoonya ~~M~~ arree Gawler Billa Kalina NSW Craton NSW Nackara Arc 500km VIC VIC TAS TAS

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

6

golD – Progress iN 2009

• Finalised Joint Venture over the Nackara Arc Gold Project, in early March, and immediately initiated surface geochemical exploration.

• Acquired the Georgetown Alluvial Gold Operations, in late June, at a cost of $2.65 million.

• July - delineated significant surface gold anomaly, at the Hillside prospect, within the Nackara Arc Project.

• September – initiated Bulk Sampling program at Georgetown and identified high grade hard-rock potential at the True Blue prospect.

• December – re-commissioning of the main Georgetown processing plant underway and Nackara drill testing commences.

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

7

georgetowN golD oPeratioNs (ggo)

• Acquired 100% of 13 mining and exploration leases plus all alluvial mining plant and equipment.

• Exploration target* of 1.75 to 2.25 million lcm at gold grades in the range of 0.45 to 0.55 g/ lcm.

==> picture [540 x 468] intentionally omitted <==

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

8

ggo – foCus siNCe aCquisitioN

• Major overhaul of all mobile mining equipment.

• Upgrades to main gold processing plant completed.

• Sampling plant constructed and bulk sampling program commenced. (temporarily suspended due to lack of water)

==> picture [294 x 468] intentionally omitted <==

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

9

ggo – foCus siNCe aCquisitioN

• Rehabilitation of previous areas of mining disturbance nearing completion.

• Improved environmental management practices implemented.

• Development of quality O H & S systems and procedures.

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

10

ggo – future DireCtioNs

• Re-commissioning of main processing plant currently underway.

• Start of 2009-10 northern wet season anticipated in late December with production/exploration suspended until March 2010.

• Full scale gold production and bulk sampling program to run concurrently after end of the wet season in March 2010.

==> picture [294 x 468] intentionally omitted <==

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

11

ggo – regioNal exPloratioN

• Seven separate primary sources of hard-rock gold identified as feeding alluvial gold into mining leases.

• Initial exploration focus on the True Blue area.

• Surface chip sampling at True Blue confirms narrow vein systems with gold grades up to 33.72g/t Au.

'True Blue''True Blue''True Blue''True Blue' Costean Grade Gold gm/BCM >1 ProspectProspectProspectProspect 0.68 0.8 to 1 0.6 to 0.8 0.4 to 0.6 MMM M MMM M 0.65 0.2 to 0.4 MMM M MMM M 0.61 0.51 MMM M 0.60 0.94 MMM M MMM M MMM M 0.56 0.59 0.55 1.0 MMM M 0.38 0.48 1.10 1.27 1.07 1.20 Mining Lease Exploration Permit - Minerals 0.61 MMM M Historic workings 0 500 m Costean (representative : Not to scale) 1.27 Grade Gold gm/BCM (Bank Cubic Metres)

(17 samples collected ranging from a low of 0.03g/t to a high of 33.72g/t, with six samples returning in excess of 4g/t Au)

• Drill testing of the True Blue Main and Tunnels prospects scheduled for the end of the first quarter of 2010.

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

12

NaCkara arC

==> picture [64 x 5] intentionally omitted <==

----- Start of picture text -----

NT QLD
----- End of picture text -----

• Joint Venture where ERO can earn up to 80% interest for the expenditure of $2 million.

• Highly prospective areas with numerous historic gold workings.

• Initial exploration focus on the Hillside Prospect with excellent early results.

==> picture [9 x 5] intentionally omitted <==

----- Start of picture text -----

WA
----- End of picture text -----

==> picture [231 x 122] intentionally omitted <==

----- Start of picture text -----

SA
Nackara Arc
Gold Project
NSW
500km
VIC
TAS
EL3692
139º 139º10'
----- End of picture text -----

Hillside Prospect CCCC ~~-~~ 32º50' CCCC Heithersay Prospect

Oodla Wirra   0 4 km

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

13

HillsiDe ProsPeCt

• Detailed surface sampling has defined a gold anomaly extending over 450 metres along strike and open to the west and south-east.

• Peak gold values are up to 100 times background and define coherent higher grade zones within the overall anomaly.

==> picture [539 x 327] intentionally omitted <==

----- Start of picture text -----

Gold 50 to 500 ppb
Gold 20 to 50 ppb
6,371,600 mN
Tapley Hill Formation Gold 5 to 20 ppb
Open Open
Rock chip sampling traverses
Fault
Open
Geological boundary
G
PADDYS GUN
G
G APPLEBYS Historical Gold Workings
6,371,400 mN
IRONCLAD G
WALLAROO UNITED G
Wilyerpa Formation
Apilla Tillite
0 50 m
6,371,200 mN
Open
Open
321,000 mE 321,200 mE 321,400 mE
----- End of picture text -----

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

14

HillsiDe ProsPeCt – DrilliNg

• First drill testing of the Hillside Prospect scheduled to commence in the first week of December 2009.

• A program of three RC/diamond holes will test the gold system beneath the surface weathering and oxidation profile.

==> picture [786 x 274] intentionally omitted <==

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

15

uraNium

• ERO remains committed to uranium exploration in 2010.

• Primary exploration focus will be on the Suplejack unconformity uranium target in the Tanami region of the Northern Territory.

• The Eromanga Basin sandstonehosted uranium targets at Marree, Abminga, Billa Kalina and Kingoonya have had tenement holdings rationalised and will be explored in 2010 as funding permits.

==> picture [389 x 468] intentionally omitted <==

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

16

suPlejaCk

• The Suplejack Project consists of a single Exploration Licence of 168 sq km over Proterozoic basement rocks prospective for both uranium and gold.

• Basement sequence is covered by a thin veneer of more recent Gardiner Sandstone and Antrim Plateau Basalts preventing conventional geochemical exploration.

• Geology shares many similarities with the rocks which host the Callie Gold Mine to the south, and unconformity uranium deposits of the Alligator Rivers region.

==> picture [294 x 440] intentionally omitted <==

----- Start of picture text -----

ELA26625
- 1 9º55'
-20º
Fault
Dolerite dyke 0 2 km
Magnetite schist
Granite
5'
º0
0
13
----- End of picture text -----

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

17

suPlejaCk – future DireCtioNs

• Recent approval by Traditional Owners, of the project area, will allow U/Au exploration to commence in second quarter of calendar 2010.

• Initial exploration phase will involve airborne geophysical surveys to be completed following the end of the wet season.

• Anticipated that drill testing of identified targets will commence immediately following the geophysical surveys.

==> picture [294 x 468] intentionally omitted <==

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

18

tHe ComPaNy iN 2010

• Gold production from the Georgetown Operations commencing late in first quarter.

• Bulk sampling program running concurrently defining new

• resources.

• Drill testing of the gold potential at True Blue commences.

• Ongoing exploration for gold at Nackara Arc.

• Exploration for uranium and gold underway at Suplejack.

==> picture [730 x 145] intentionally omitted <==

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

19

tHaNk you for your atteNtioN

==> picture [814 x 468] intentionally omitted <==

EROMANGA URANIUM LIMITED – ANNUAL GENERAL MEETING – 25 NOVEMBER 2009

20