DREADNOUGHT RESOURCES LTD — Board/Management Information 2023

Mar 1, 2023

2 March 2023

==> picture [149 x 85] intentionally omitted <==

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

Dreadnought Resources Limited ( ASX: DRE ) (“ Dreadnought ” or “the Company” ) is pleased to announce that Dr Robert (“Rob”) Gee has been appointed as a non-executive director of Dreadnought effective today.

Rob has strong credentials having completed a Bachelor of Science in Engineering (Mineral Processing) with Honours followed by a PhD (Hydrometallurgy) both completed at the Royal School of Mines, Imperial College of Science and Technology, London. Rob also attained a Graduate Certificate in Management from the University of Newcastle.

Rob is an experienced hydrometallurgist and technical manager with over thirty years’ experience in the resources and battery chemicals sectors, with a significant focus on critical minerals extraction in recent years. Rob has held senior positions in both the private and public sectors working in operations, technical development and consulting. During this time, Rob has worked for a number of small and large organisations including BHP Group Limited and the Australian Nuclear Science and Technology Organisation (“ ANSTO ”).

Rob will receive a fee of $60,000 pa (exclusive of superannuation). The Company has also issued Rob 1,223,151 options with an exercise price of $0.12 and an expiry date of 2 March 2026. In addition, Rob joins Dreadnought’s Long Term Incentive Plan with a total of 600,000 Performance Rights subject to the following vesting hurdles;

Tranche 1 (300,000): A Resource of at least the inferred category (as defined in the JORC Code 2012) of 20Mt @ > 1% TREO by 31 December 2023.

Tranche 2 (300,000): A Resource of at least the inferred category (as defined in the JORC Code 2012) of 30Mt @ > 1% TREO by 31 December 2024.

Dreadnought’s Chairman, Paul Chapman commented: “We are delighted that Rob has joined the board of Dreadnought and welcome him to the team. Rob brings with him a wealth of experience in metallurgy, strategic planning and business development. Rob also has a strong network through the private and public sector. Rob will be invaluable in advancing our critical minerals, base metals and gold projects.”

Following Rob’s appointment, directors control ~13% of Dreadnought and have invested a total of ~$4.5m. The Board remains strongly aligned with all shareholders.

Ends

For further information please contact:

Dean Tuck Jessamyn Lyons Managing Director Company Secretary Dreadnought Resources Limited Dreadnought Resources Limited E: dtuck@dreadnoughtresources.com.au E: jlyons@dreadnoughtresources.com.au

This announcement is authorised for release to the ASX by the Board of Dreadnought.

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 712, Osborne Park DC WA 6916

www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au

+61 8 9473 8345