DREADNOUGHT RESOURCES LTD — Capital/Financing Update 2019

Aug 20, 2019

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21 August 2019

SMALL SHAREHOLDING SALE FACILITY COMPLETED

Dreadnought Resources Ltd (“ Dreadnought ” or “ the Company ”) advises that it has completed the small shareholding sale facility (“ Sale Facility ”) as announced on 2 July 2019. The ASX Listing Rules define a small shareholding as one with a market value of less than $500.

The Company established the Sale Facility to assist shareholders with small parcels of shares in the Company to sell those shares cost effectively and simply. This also assists the Company to reduce administrative costs associated with maintaining a large number of small holdings.

In line with the terms of the Sale Facility, a total of 22,537,216 shares (~1.5% of total shares on issue) were sold at an average price of $0.004 per share. Following the completion of the Sale Facility, the total number of shareholders was reduced by 1,583 to ~750.

Shareholders with a small parcel at the close of business on 13 August 2019 should expect to receive their consideration within ten business days by way of cheque. All costs associated with the sale of the small parcels are being borne by the Company.

On behalf of the Board,

Nick Day CFO & Company Secretary

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INVESTMENT HIGHLIGHTS

Tarraji‐Yampi Ni‐Cu‐Au Project

Dreadnought controls a significant land holding in the highly prospective West Kimberley located only 85 kms from Derby, Western Australia. The project area has been locked up as a Defence reserve since 1978 and was only recently opened under the Commonwealth Government’s coexistence regime that balances Defence needs with the requirements of others including Aboriginal groups, the resources industry, pastoralists and State Governments.

The Tarraji‐Yampi Ni‐Cu‐Au Project presents a rare first mover opportunity in Western Australia with known outcropping mineralisation and historic workings from the early 1900s which have seen no modern exploration.

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Three styles of mineralisation occur at Tarraji including: volcanogenic massive sulphide (“VMS”); Proterozoic Cu‐ Au (“IOCG”); and magmatic sulphide Ni‐Cu‐PGE. Numerous high priority nickel, copper and gold drill targets have been identified from recent VTEM surveys, historical drilling and surface sampling of outcropping mineralisation.

Illaara Au‐Cu‐Zn Project:

The Illaara Au‐Cu‐Pb‐Zn Project is located 160km northwest of Kalgoorlie‐Boulder in the world class Yilgarn Craton and covers 75 strike kilometres of the Illaara Greenstone Belt. The Project is prospective for typical Archean mesothermal lode gold deposits and Cu‐ Pb‐Zn‐Ag VMS mineralisation.

The project was acquired from Newmont Goldcorp who

defined several camp‐scale targets which were undrilled due to a change in corporate focus. Prior to Newmont Goldcorp, the Illaara greenstone belt was held predominantly by iron ore explorers and has seen minimal gold and base metal exploration since the 1990s. The project contains several drill ready gold targets and known VMS horizons which could produce exciting drill targets with the efficient and effective application of modern exploration technology.

Rocky Dam Au‐Cu‐Zn Project:

The Rocky Dam Au Project is located 45kms east of Kalgoorlie‐Boulder in the world class Eastern Goldfields Superterrane of Western Australia. The Project is prospective for typical Archean mesothermal lode gold deposits and Cu‐Pb‐Zn‐Ag VMS mineralisation.

The project has known gold and VMS occurrences with drill ready gold targets based from 1990s mineralised gold intercepts which have not been followed up.

Dreadnought Resources Limited	DIRECTORS		CORPORATE STRUCTURE
Suite 5, 16 Nicholson Road	Paul Chapman	Non-Executive Chairman	Shares on Issue: 1,466M
Subiaco WA 6008	Dean Tuck	Managing Director	Market Cap: $5.9M
E: info@dreadnoughtresources.com.au	Ian Gordon	Non-Executive Director	Share Price $0.004
W: www.dreadnoughtresources.com.au	Paul Payne	Non-Executive Director	Cash (30/6/19): $0.65M