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DREADNOUGHT RESOURCES LTD — Capital/Financing Update 2019
Apr 3, 2019
64785_rns_2019-04-03_fa670589-e839-4ed3-8a3e-89f516fb422e.pdf
Capital/Financing Update
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Australian Securities Exchange Announcement
For Immediate Release
4 April 2019
Dreadnought Resources completes IronRinger Resources Pty Ltd Acquisition
Dreadnought Resources Limited (“Dreadnought” or the “Company”) is pleased to advise that it has completed the acquisition of 100% of IronRinger Resources Pty Ltd.
In accordance with the announcement on 7 November 2018, the issue of 350,000,000 new shares and 50,000,000 options to acquire new shares to vendors of IronRinger Resources Pty Ltd has been completed. The issue of the new securities was approved by shareholders at the Company’s Extraordinary General Meeting held on 15 February 2019.
In lieu of the $70,000 cash payment, the parties agreed to issue an additional 23,333,334 new shares at $0.003 per share under the Company’s Listing Rule 7.1 capacity to the vendors.
Dreadnought now intends to commence on-ground exploration at the Yampi project as soon as exploration approvals are received.
Table 1: Tenements held by IronRinger
| Project | Tenement No | Interest | Status | Area KM2 |
|---|---|---|---|---|
| Yampi | E04/2315 | 80% | Granted | 92 |
| Yampi | E04/2508 | 100% | Granted | 380 |
| Yampi | E04/2557 | 100% | Application | 223 |
| Yampi | E04/2572 | 100% | Application | 34 |
| Yampi | E04/2574 | 100% | Application | 132 |
| Yampi | E04/2573 | 100% | Application | 16 |
| RockyDam | E25/533 | 100% | Granted | 30 |
Board Changes
Paul Chapman and David Chapman will be invited to join the Board of Dreadnought.
Registered Office Ground Floor 70 Hindmarsh Square Adelaide SA 5000
Ph: 08 8232 8865 ABN: 40 119 031 864
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Concluding Comments
Dreadnought Resources is extremely pleased to be able to acquire the Yampi base metal project within a proven terrain that has had limited exploration completed and targets that are expected to be drilled later in the quarter.
In addition, the Rocky Dam project adds the opportunity to add gold and pyrite to the Company’s commodity mix.
Dreadnought looks forward to exploring these highly prospective projects over the coming six months.
For further information, please don’t hesitate to contact:
| Duncan Gordon | Kaitlin Smith |
|---|---|
| Chairman | Company Secretary |
| Dreadnought Resources Limited | Dreadnought Resources Limited |
| P: 0404 006 444 | P: 08 8232 8865 |
| E:[email protected] | E:[email protected] |