DREADNOUGHT RESOURCES LTD — Capital/Financing Update 2015

May 7, 2015

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Australian Securities Exchange Announcement

8 May 2015

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

Successful Completion of Institutional Component of Entitlement Issue

Further to the announcement by Tychean Resources Ltd (ASX:TYK) ( Company ) on 6 May 2015, the Company is pleased to announce that the institutional component of its accelerated non-renounceable entitlement issue ( Entitlement Issue ) has closed, raising $65,291 through the issue of 32,645,369 ordinary shares in the Company ( Shares ), together with one new option for every new Share subscribed for.

The close of the institutional component of the Entitlement Issue to selected institutional shareholders completes the first stage of the Entitlement Issue.

The second stage of the Entitlement Issue is the retail component ( Retail Entitlement Issue ).

Shareholders who are eligible to participate under the terms of the Retail Entitlement Issue ( Eligible Retail Shareholders ) will be able to subscribe for one new Share for every ten Shares held at the record date, together with one new option for every new Share subscribed for.

Eligible Retail Shareholders wishing to acquire new Shares under the Retail Entitlement Issue must follow the instructions set out on the personalised entitlement and acceptance form that will accompany the prospectus to be dispatched to Eligible Retail Shareholders.

Eligible Retail Shareholders should carefully read the prospectus to decide whether or not to participate in the Retail Entitlement Issue.

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Director

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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