DREADNOUGHT RESOURCES LTD — AGM Information 2017

Nov 8, 2017

CHAIRMAN’S ADDRESS TO TYCHEAN RESOURCES LIMITED

ANNUAL GENERAL MEETING

9 November 2017

Dear fellow shareholders

I present this address to the 11th Annual General Meeting of Tychean Resources Limited. Since listing in October 2006, Tychean has had to adapt to changing market conditions and navigate the risky and often challenging life of a junior exploration company.

Over the past 12 months, Tychean has undertaken extensive due diligence on several potential acquisition opportunities in an effort to provide existing shareholders a value accretive investment with strong ability to generate positive future shareholder return.

On the 25[th] January 2017, Tychean announced to the market the signing of a binding Heads of Agreement to acquire a 74% interest in Blom Diamonds. Despite the Company’s diligent effort to ensure transaction completion, the ASX deemed the proposed transaction structure non-compliant with the ASX's interpretation of certain Listing Rules.

With the Company’s focus being on new project generation your Directors have endeavoured to minimise cash outgoings wherever possible by eliminating any non-essential expenses, reducing consultancy rates and electing to waive director fees during his period.

December 2016 saw Tychean successfully raise $352,000 through a Share Purchase Plan, issuing 50.36 million shares. These much needed funds have assisted the Company in progressing detailed due diligence on acquisition targets and provided additional working capital to ensure future financial stability of the company. We are thankful to all those who participated in the capital raising.

Over the past 12 months, Tychean has maintained its interest in the ongoing Tanami Joint Venture with Ramelius Resources such that future involvement either through further contribution to the project, or by converting the interest to a 1.5% NSR royalty, will be determined upon a decision to mine.

I’m pleased to announce that following the placement made on 7 November 2017, it is intended that a fully underwritten rights issue will be made to allow your company to continue to pursue a future exploration/ mining project to add to the company’s portfolio. Details of the issue which will be made at the same price as the placement will be released once the necessary approvals are in place.

I look forward to a successful project acquisition of exploration or mining tenements.

The markets continue to present challenges and increased levels of volatility; however the Company will persevere and continue to be resourceful in seeking new opportunities in this difficult period. We endeavour to carry out thorough due diligence in the best interest of Tychean’s shareholders so as to stimulate interest in the Company and lead to positive outcomes for those existing investors.

On behalf of the board and shareholders I would like to thank all past employees of the Company, for their commitment and loyalty over the last year as we look forward to delivering future success to all stakeholders through persistence and continued hard work.

R M Kennedy Chairman

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TYCHEAN RESOURCES LIMITED ACN 119 031 864

Annual General Meeting 2017 Thursday 9 November 2017

~~Corporate Overview~~

Capital Structure	Capital Structure
Shares on Issue1	384,770,921
Market Cap(at $0.005 per share)	$2M
Cash(post placement)	$0.15M
12 Month Trading Range	$0.009 - $0.002

(1) Includes shares issued as part of the recent placement to sophisticated investors on 7 November 2017

Board Structure	Board Structure
Chairman	Bob Kennedy
Non-Executive Director	Ewan Vickery
Non-Executive Director	Dr Kevin Wills

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Trading History
0.01 40
0.009
35
0.008
30
0.007
25
0.006
0.005 20
0.004
15
0.003
10
0.002
5
0.001
0 0
Volume Share Price
Millions
Share Price Volume
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Register Analysis

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6.61%
5.02%
Robert Kennedy & Associates
Ramelius Resources
88.37%
Other Shareholders
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Tychean Resources Limited  Annual General Meeting Presentation  November 2017

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~~Operations Overview - Tanami JV (Tychean 15%)~~

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• 1,700km[2] of prospective geology in Tanami Region, NT

• Tychean maintain free carried interest with JV partner Ramelius Resources, through to Decision to Mine

• Strategic land holding within 100km of;

• Newmont’s +20Moz Callie Gold Mine and Granites Treatment Plant

• Reconnaissance aircore drilling program completed by Ramelius in December 2016 over the Highland Rock tenements

• Low order gold anomalism returned from most recent drill program with follow-up work delayed pending completion of heritage surveys

• Delay in the granting of tenements prevented wider exploration at the project site during 2017 field season

• The balance of project tenements were eventually confirmed granted during September quarter 2017

• Planning for 2018 field program can now commence

• Areas of gold anomalism identified from previous sampling programs to be further explored

Tanami Project Location – indicating all tenements now granted

• Additional exploration proposed for newly granted area

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Tychean Resources Limited  Annual General Meeting Presentation  November 2017

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~~Operations Overview - Tanami JV (Tychean 15%)~~

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Highland Rocks Els soil sampling and historical Newmont drilling results over the Renton prospect

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Suplejack (EL26625) showing Ramelius drill hole locations within the interpreted folded Tanami Group stratigraphy.

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Tychean Resources Limited  Annual General Meeting Presentation  November 2017

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~~Corporate Overview~~

• Tychean was unable to complete the proposed Blom Diamionds Transaction, as announced on 25 Tanami JV (NT) → Tychean 15% January 2017, due to an inability to satisfy ASX requirements for back door listings

• Tychean recently conducted a Placement to sophisticated investors, pursuant to section 708 of the Corporations Act, raising A$100,000 through the issue of 50,000,000 New Shares

• Tychean proposed an Entitlement Issue to enable existing Shareholders to participate in the funding strategy and prevent dilution

• The company will use funds raised to conduct detailed due diligence on prospective Australian-based mineral project opportunities currently under consideration

• Listing Rules now place significantly higher hurdles on new transactions for junior companies such as Tychean

• Tychean will continue to act in the best interests of existing shareholders in refocusing the Company’s strategy, as we endeavour to secure a fresh flagship development project to deliver future value accretion

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Tychean Resources Limited  Annual General Meeting Presentation  November 2017

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Thank You

Tychean Resources Ltd L3, 100 Pirie Street Adelaide, South Australia

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