DREADNOUGHT RESOURCES LTD — Capital/Financing Update 2018

Dec 11, 2018

==> picture [69 x 57] intentionally omitted <==

Australian Securities Exchange Announcement

12 December 2018

Non-Renounceable Entitlement Issue

Tychean Resources Limited ( Tychean or the Company ) advises that it intends to undertake a non-renounceable entitlement issue ( Rights Issue ) to raise approximately $577 thousand (before costs) through a one (1) for three (3) offer issuing up to a maximum of 192,385,537 ordinary fully paid shares ( New Shares ) at $0.003 per new share.

The funds raised by the Rights Issue, together with Tychean’s existing cash reserves will primarily be used for:

• Progressing the acquisition and target generation for the IronRinger transaction

• Working capital and administrative costs of the company

Full details of the Rights Issue will be set out in a further announcement. The shares under the Rights Issue will rank equally with existing ordinary shares on issue.

Tychean also advises that its registered office has changed with immediate effect to;

Ground Floor 70 Hindmarsh Square Adelaide SA 5000

Yours faithfully,

Duncan L Gordon Chairman

1

Tychean Resources Limited ACN 119 031 864 | Ground Floor, 70 Hindmarsh Square Adelaide SA 5000| Phone 61 8 7324 3195| Fax 61 8 8232 8811| Email info@tycheanresources.com | web www.tycheanresources.com