DREADNOUGHT RESOURCES LTD — Capital/Financing Update 2008

Mar 25, 2008

ASX Announcement

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26 March 2008

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

Eromanga signs Joint Venture with InterMet Resources

The Company is pleased to announce that Eromanga Uranium (Eromanga; ASX:ERO) has entered into a joint venture with InterMet Resources (InterMet; ASX:ITT) over EL 4001 in northern South Australia. EL 4001 is 983 km² in area and is located approximately 90km north-east of the township of Marla (Figure 1).

The tenement area is positioned over the northern margins of the Gawler Craton and is considered to be prospective for iron oxide, copper, gold, uranium mineralisation (IOCGU). Eromanga believes that the addition of the joint venture area to it’s exploration portfolio strengthens the company’s IOCGU initiative in the Marla region where Eromanga is currently drilling the exciting Welbourn Hill anomaly. (EL 4001 is currently referred to by InterMet as the Abminga Project but to avoid confusion with projects of similar name within the Eromanga portfolio will now be known as the Todmorden Project).

Under the joint venture announced today, Eromanga can earn up to an 80% interest in EL 4001 from InterMet Resources by the expenditure of $0.5 million on exploration. Eromanga may withdraw at any time after an initial appraisal period provided it has expended at least $50,000. InterMet may elect to contribute prorata to expenditure once Eromanga has earned a 60% interest upon expenditure of $0.25 million.

Eromanga Uranium intends to complete a ground gravity survey at the Todmorden Project during the second quarter of 2008 with ongoing exploration of the project area, including drill testing, to be guided by the results of the gravity survey.

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Mr Kevin Lines Managing Director

26 March 2008

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Figure 1 Location of the Todmorden Project area.

For further information please contact Eromanga Uranium on 08 8132 7970 or Investor Relations - Mr Duncan Gordon on 0404 006 444

Further information relating to Eromanga Uranium Limited and its various exploration projects can be found on the Eromanga website:

www.eromangauranium.com

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Kevin Lines who is a Member of the Australasian Institute of Mining and Metallurgy, and who has sufficient experience relevant to the style of mineralisation, the type of deposit under consideration, and the activity he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration results, Mineral Resources and Ore Reserves (the JORC Code). This report is issued in the form and context in which it appears with the written consent of the Competent Person, who is Managing Director of the Company.

Eromanga Uranium Limited ACN 119 031 864 | 62 Beulah Road Norwood South Australia 5067 | PO Box 3126 Norwood South Australia 5067

Phone 61 8 8132 7970 | Fax 61 8 8362 5966 | Email info@eromangauranium.com | web www.eromangauranium.com