DREADNOUGHT RESOURCES LTD — Capital/Financing Update 2022

Oct 31, 2022

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1 November 2022

CLEANSING STATEMENT

Dreadnought Resources Limited (“ Dreadnought ” or “ the Company ”) advises that a total of 10,178,000 ordinary fully paid shares were issued 31 October 2022 on the early exercise of options and, the issue of shares to the vendors for the tenement acquisitions announced on 26 October 2022. A breakdown of the share issues is provided below.

Early Exercise of Options

• 900,000 exercisable at any time until 2 July 2024 at an exercise price of $0.04 per option

• 750,000 exercisable at any time until 31 October 2023 at an exercise price of $0.02 per option

• 2,750,000 exercisable at any time until 1 October 2023 at an exercise price of $0.01 per option

Issue of Shares to Vendors

• 2,778,000 at a deemed issue price of $0.089

• 3,000,000 at a deemed issue price of $0.115

The amount raised on the exercise of the options was $78,500.

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 release of the associated Appendix 2A for the issue will follow this cleansing notice.

Capital Structure (including placement shares to directors (subject to shareholder approval))

Quoted Securities
FullyPaid OrdinaryShares	3,058,544,885
Unquoted Securities
Options @ $0.006 expiring25/05/2023	20,000,000
Options @ $0.005 expiring09/04/2024	30,000,000
Options@ $0.005 expiring30/06/2024	3,500,000
Options @ $0.04 expiring02/07/2024	14,100,000
Options @ $0.06 expiring11/08/2024	2,000,000
Options@ $0.06 expiring26/11/2024	2,000,000
Options @ $0.065 expiring14/07/2025	8,500,000

Ends

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

www.dreadnoughtresources.com.au

info@dreadnoughtresources.com.au

+61 08 9473 8345

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For further information please contact: Dean Tuck Jessamyn Lyons Managing Director Company Secretary Dreadnought Resources Limited Dreadnought Resources Limited E:dtuck@dreadnoughtresources.com.au E:jlyons@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

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