DREADNOUGHT RESOURCES LTD — Capital/Financing Update 2012

Jul 30, 2012

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ASX Announcement

31[st] July 2012

Maximus secures full ownership of SA copper, gold, uranium tenements

Summary

Billa Kalina (Cu, Au, U)

• Rationalisation of SA tenement ownership structure delivers Maximus 100% of all mineral interests in Billa Kalina, containing the Peeweena Dam gravity anomaly.

• MXR’s Joint Venturer, ERO to fund ground gravity survey and initial drilling program to earn into project.

• Negotiations ongoing with Federal Department of Defence to secure Deed of Access to Billa Kalina tenements

Adelaide Hills (Au)

• Full Adelaide Hills gold tenement ownership also transferred to Maximus

Maximus Resources Limited (ASX: MXR) has secured ownership and full mineral rights to all of its jointly operated tenements in South Australia, under a rationalisation program confirmed by the State’s Department for Manufacturing, Innovation, Trade, Resources and Energy (DMITRE).

DMITRE notified the company in writing on 20[th] July that the Billa Kalina tenements, containing the Peeweena Dam gravity anomaly, and the Adelaide Hills tenements have been transferred into Maximus Resources’ name.

Both land areas were previously held by listed explorer, Flinders Mines Limited (ASX: “FMS”).

Maximus flagged the tenement rationalisation program late last year to simplify tenement holding arrangements in South Australia operated under various agreements with FMS.

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The move benefits Maximus by reducing the number of entities and people involved in decision making processes, and clarifies for Maximus shareholders, ownership of mineral rights on the tenements.

Maximus has previously completed exploration activities on the tenements under Exploration Agreements, with FMS holding the tenement titles and retaining all diamond rights.

The tenement transfer means Maximus now owns 100% of the mineral rights on the Billa Kalina tenements and is better positioned to streamline the approvals process with all government departments.

In addition, having the Billa Kalina tenements in Maximus’ name will ensure that timely notification is given and responses received from the Department of Defence regarding access deeds and work approval permits within the Woomera Prohibited Area (WPA).

Securing the diamond rights for the tenements was seen as a logical and necessary step to rationalise previous agreements between Maximus and FMS.

ERO Mining is completing preparations for a preliminary gravity survey on the Peeweena Dam anomaly located on the Billa Kalina tenements between the Olympic Dam IOCGU operation and the Prominent Hill IOCGU mine in South Australia.

Maximus continues to focus on pursuing its exploration program on the Company’s wholly owned Narndee poly metallic tenements in the Murchison region of Western Australia with plans approved to commence stage 2 of the recent drilling campaign completed in May 2012.

Kevin Malaxos Managing Director

For further information please contact Kevin Malaxos on 08 7324 3172 Duncan Gordon, Adelaide Equity Partners Kmalaxos@maximusresources.com on 08 8232 8800 or 0404 006 444 dgordon@adelaideequity.com.au

Further information relating to Maximus Resources Limited and its diversified exploration projects will be found on Maximus’ website: www.maximusresources.com