DREADNOUGHT RESOURCES LTD — Capital/Financing Update 2020

May 24, 2020

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ISSUE OF PLACMENT SHARES – S708A CLEANSING NOTICE AND

ISSUE OF UNLISTED OPTIONS

On 25 May 2020, Dreadnought Resources Limited (“ Dreadnought ” or “ the Company ”) issued 107,500,000 fully paid ordinary shares at $0.004 per share by way of a placement (“ Issue ”). The Issue was part of the Placement announced on 19 May 2020.

The Company relies on section 708A of the Corporations Act 2001 (Cth) (the Act) in relation to the Issue.

In accordance with section 708A(5)(e) of the Act the following information is provided:

1. This notice is being given within five (5) business days after the day of Issue;

2. The Issue was made without disclosure to investors under Part 6D.2 of the Act;

3. This notice is given under section 708A(5)(e) of the Act;

4. As at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company and section 674 of the Act; and

5. As at the date of this notice, there is no excluded information to be provided in accordance with section 708A(6)(e) of the Act.

The Company has also issued 40,000,000 Unlisted Broker Options exercisable at $0.006 on or before 25 May 2023. The issue has been made in lieu of a 12 month corporate mandate with Shaw and Partners.

On behalf of the Board,

Nick Day Company Secretary

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For further information please contact: Dean Tuck Nick Day Managing Director Company Secretary Dreadnought Resources Limited Dreadnought Resources Limited E:dtuck@dreadnoughtresources.com.au E:info@dreadnoughtresources.com.au

This announcement is authorised for release to the ASX by the Board of Dreadnought.

Dreadnought Resources Limited Suite 5, 16 Nicholson Road, Subiaco WA 6008 Telephone: +61 (0) 428 824 343 Postal Address: PO Box 572 Floreat 6014

ASX Code : DRE info@dreadnoughtresources.com.au www.dreadnoughtresources.com.au