DREADNOUGHT RESOURCES LTD — Capital/Financing Update 2015

Jul 29, 2015

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Australian Securities Exchange Announcement

30 July 2015

ASX Market Announcements Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000

Tanami Drilling Results

Tychean Resources Ltd (ASX: TYK) ( Tychean or Company ) is pleased to announce the receipt of all gold results from the recently completed RC drilling, (totalling 32 drill holes for 2,532 metres), at the Suplejack Project by Joint Venture Partner, Ramelius Resources Limited, in the Tanami region of the Northern Territory, (Figure 1).

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Figure 1 - Tanami Project Location

The completed vertical holes infilled the drill spacing around the previously reported plus 10ppb Au interface anomaly, closing the hole spacing down to 250m (Figure 2). Encouragingly, the infill drilling confirmed strike continuity and extended the anomalous interface target, (>10ppb Au), to over two kilometres. A third phase of drilling is now planned to further evaluate the anomalism.

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Figure 2 – Suplejack Geology and Drilling Summary

Tychean’s Managing Director, Mr. Joe Houldsworth said, “The results returned from the completed drilling to date from the Suplejack Project are very encouraging considering the current very broad drill spacing. Further infill and extensional drilling is required to determine the projects full potential.”

All multi element results from the drilling are pending.

Since the last update on the project, the Commonwealth Minister of Indigenous Affairs consented to allow the Northern Territory Mining Minister to proceed with the grant of three Exploration Licence Applications (ELA) 27511, 27995 and 29829, (Figure 1). Table 1 – Anomalous (>9ppb Au) Drill Hole Intersections

Hole Id	Easting	Northing	Azimuth	Dip	RL	Total Depth	From (m)	To (m)	Interval (m)	Au (ppb)
						(m)
SJRC0001*	614618	7795389	0	-90	400	102	81	82	1	54
SJRC0003*	613302	7796903	0	-90	400	84	70	71	1	24
SJRC0019	612782	7797116	0	-90	400	69	60	61	1	11
SJRC0022	613133	7797091	0	-90	400	78	65	66	1	11
SJRC0023	612938	7796931	0	-90	400	69	61	62	1	9
SJRC0029	613947	7796668	0	-90	400	90	81	82	1	15
SJRC0030	614201	7797324	0	-90	400	87	78	79	1	22
SJRC0036	613986	7797793	0	-90	400	81	72	73	1	17
SJRC0042	614302	7797102	0	-90	400	87	77	78	1	9
SJRC0045	614507	7796639	0	-90	400	99	83	85	2	14.5
							88	90	2	45.5
						Incl.	88	89	1	67
							96	97	1	11
SJRC0046	614485	7796079	0	-90	400	93	79	80	1	10
SJRC0047	614753	7797315	0	-90	400	81	75	76	1	14

• Previously Reported

Tanami Farm-in and Joint Venture Agreement.

Ramelius Resources Limited (ASX: RMS) finalised a Farm-in and Joint Venture Agreement with Tychean Resources Limited (ASX: TYK ) in May 2014, under the following terms and conditions.

Terms:

• Ramelius paid Tychean $50,000 cash upon execution of the agreement to assist Tychean facilitate the grant of the Highland Rocks and Officer Hills South exploration licences within the land package.

• Subject to all necessary statutory and regulatory approvals plus the grant of the two Highland Rocks and Officer Hills South ELs Ramelius committed to a minimum exploration expenditure of $100,000 within 2 years.

• Ramelius may earn an 85% interest in the project by exploration expenditure of $500,000 within 3 years.

• Tychean will be free carried until a Decision to Mine at which time it may elect to contribute its interest or convert to a 1.5% NSR Royalty.

Ramelius has advised Tychean that it had met its Minimum Exploration Expenditure of $100,000 by February 2015, and Tychean now believes that Ramelius’ total expenditure to date is sufficient to satisfy the requirement necessary to earn its 85% interest in the Tanami Tenements.

For further information please contact:

Mr. Joe Houldsworth Mr. Duncan Gordon Managing Director Executive Director Tychean Resources Ltd Adelaide Equity Partners Limited M: 0487 924 326 M: 0404 006 444

Further information relating to Tychean Resources Ltd and its various exploration projects can be found at its website: www.tycheanresources.com

This announcement contains previously announced Ramelius Resources Limited exploration results reported in the following announcements -

28/07/2015 – June 2015 Quarterly Activities Report

29/04/2015 – March 2015 Quarterly Activities Report

The Company is not aware of any new information or data, which hasn’t been previously reported, that materially affects the information included in the current market announcement.