DREADNOUGHT RESOURCES LTD — Capital/Financing Update 2026

Feb 2, 2026

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ASX ANNOUNCEMENT 3 February 2026

High-Grade Infill & Extensional Drilling - Illaara Gold Project

HIGHLIGHTS

• Assays have been received from a 43-hole (~3,600m) RC drilling program at Metzke’s Find, part of the 100% owned Illaara Gold Project. The infill and extensional program focused on adding near-term production ounces as part of Dreadnought’s Finding More Gold, Faster strategy.

• Infill drilling has returned significant intercepts at shallower depths than previously drilled and will have a positive impact on the current Resource (14,900oz @ 6.8g/t Au, 72% Indicated) including:

MZRC076: 6m @ 8.9g/t Au from 117m including 1m @ 51.6g/t Au from 118m

MZRC072: 2m @ 17.0g/t Au from 136m including 1m @ 30.4g/t Au from 136m

MZRC104: 1m @ 11.6g/t Au from 7m MZRC068: 2m @ 4.2g/t Au from 85m

• The infill drilling has been successful in adding shallow ounces and grade within the Resource and providing material for metallurgical test work.

• Extensional drilling has primarily focused on testing extensions of the Metzke’s lode north of a cross-cutting dolerite dyke and testing parallel structures for additional mineralised lodes. Importantly, drilling successfully extended the main Metzke’s lode ~250m north demonstrating the potential to grow the Resource with significant intercepts including:

MZRC103: 10m @ 1.5g/t Au from 20m including 2m @ 5.8g/t Au from 22m

• Identification of this extension is important as the current Resource sits within ~350m of strike and this has potentially been extended by ~250m to >600m and remains open.

• Extensional and infill drilling at Metzke’s Find will commence in February / March 2026 and the current Resource will be updated/upgraded thereafter.

Dreadnought Resources Ltd (“Dreadnought”) is pleased to announce results from infill and extensional drilling at Metzke’s Find, part of the 100% owned Illaara Gold Project, in the Yilgarn region of WA.

Dreadnought’s Managing Director, Dean Tuck, commented: “Advancing Metzke’s Find is a key component of our expanded Finding More Gold, Faster strategy and feeds directly in to becoming a self-funded explorer by adding near term production ounces. Our high-grade Metzke’s Find Resource is a great commercial opportunity.

Drilling has successfully extended mineralisation at Metzke’s Find from ~350m strike to ~600m strike providing a significant opportunity to expand upon the current Resource. Additionally, the identification of a parallel structure provides further Resource expansion opportunities which will be drilled in late February / early March.

Confirming high-grade gold from 7m, which is outside and above the current Resource is exciting and highlights the opportunity to add shallow ounces to the current Resource through a systematic program like the one that proved successful at Star of Mangaroon. We look forward to kicking off our 2026 drilling program with RC drilling at Metzke’s and aircore drilling across Illaara later this month.”

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Figure 1: Drone view of old working at Metzke’s Find

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Background on Metzke’s Find

Metzke’s Find was discovered by a prospecting party in 1911. The remote location, being 160kms from the nearest railhead, and lack of readily available fresh water limited follow up work. Metzke’s Find was worked on a few occasions over the following decades for a recorded production of ~890oz @ ~40g/t Au. Metzke’s Find comprises ~20 small, historic shafts over ~700m of strike.

The only significant exploration at Metzke’s Find was in the late 1980s and early 1990s by junior gold explorers who drilled shallow percussion holes (average ~24m) which recorded a number of attractive results including:

MZ07: 5m @ 4.0 g/t Au from 11m

MZ19: 2m @ 15.7 g/t Au from 19m

MZ25: 1m @ 18.0 g/t Au from 22m

MZ23: 3m @ 11.7 g/t Au from 18m

Dreadnought acquired Metke’s Find in 2020 and has completed RC and diamond drilling which also delivered significant results including:

MZRC022: 4m @ 10.5 g/t Au from 19m MZRC017: 7m @ 7.5 g/t Au from 51m

MZRC019: 4m @ 19.9 g/t Au from 45m MZRC016: 3m @ 21.0 g/t Au from 85m

The mineralisation at Metzke’s Find comprises quartz lodes hosted within a foliated mafic sequence and typically dips steeply to the west. Discrete zones of mineralisation are high-grade, 1-4m in thickness and strike north-south with an interpreted moderate north plunge of around 30°. A total of

5 separate mineralised zones were interpreted, likely representing shoots developed within a single, planar shear.

In 2023, a shallow, high-grade gold resource of 14,900oz @ 6.8g/t Au (72% Indicated) over ~350m of strike was declared with the majority of mineralisation being within 140m of surface.

Historically, mineralisation was thought to terminate at a cross cutting Proterozoic dyke located just north of the historic workings. A drill hole testing the continuation of the mineralised structure north of the dyke intersected 6m @ ~1.2g/t Au from 66m (MZRC049). Accordingly, the Resource remains open to the north of the dyke as well as at depth.

Figure 2: Plan view image showing the location of extensional and infill drilling (red dots) and planned drilling (blue dots) in relation to previous intercepts and the interpreted lode horizons.

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Discussion of Drilling Results – Metzke’s Find

An RC drilling program comprised of 43-holes (~3,600m) was undertaken in late 2025 with the primary aims to:

• Expand the Resource along strike (34 holes, 2,720m);

• infill even more of the Resource to the Indicated category (9 holes, 880m); and

• Produce material for metallurgical test work.

Extensional drilling was primarily focused on testing the strike extension of Metzke’s Find north of the cross-cutting dolerite dyke and testing parallel structures to identify an offset position.

The drilling has successfully extended Metzke’s Find ~250m north:

MZRC103: 10m @ 1.5g/t Au from 20m including 2m @ 5.8g/t Au from 22m

As the current Resource covers ~350m of strike, the additional ~250m of strike extension to the north could, with further drilling, substantially increase the Resource. RC drilling of this strike extension will commence in February / March 2026.

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Figure 3: Cross section of the Metzke’s Find extension to the north (looking north).

In addition, old workings were identified from a drone survey with waste samples returning evidence of mineralisation. The workings and parallel structures will be subject to RC drilling as part of the February / March 2026 program.

Infill drilling was undertaken at shallow depths and to provide material for initial metallurgical test work. This drilling returned significant intercepts that will have a positive impact on the current Resource with significant intercepts including:

MZRC076: 6m @ 8.9g/t Au from 117m including 1m @ 51.6g/t Au from 118m

MZRC072: 2m @ 17.0g/t Au from 136m including 1m @ 30.4g/t Au from 136m

MZRC104: 1m @ 11.6g/t Au from 7m MZRC068: 2m @ 4.2g/t Au from 85m

Further targeting of shallow ounces in the top 30m to further upgrade and add ounces will be undertaken as part of the program commencing in February / March 2026.

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Figure 4: Two cross section images from Metzke’s Find showing recent drilling adding thickness and grade to the main lode.

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Background on Illaara

Illaara is a consolidated landholding covering ~800km[2] and ~70km strike of the Illaara Greenstone Belt located ~190 kms from Kalgoorlie. The Illaara Greenstone Belt is one of the most underexplored greenstone belts in the Yilgarn Craton and is situated nearby to Ora Banda Mining’s Davyhurst Operations (OBM.ASX) and Aurenne’s Bottle Creek Operations.

Historically gold was discovered and worked at Metzke’s Find and the nearby Lawrence’s Find in the early 1900s. However, the remoteness, lack of water and access hindered early prospecting.

Recent gold exploration within the Illaara Greenstone Belt was spurred on by a ~55km long Au-As-Sb anomaly generated from

regional regolith sampling by the Geological Survey of Western Australia which led to Newmont taking a position in the belt in 2016. Prior to Newmont, the Illaara Greenstone Belt was held by iron ore companies who were looking to extend their mining operations north as part of the Koolyanobbing Iron Ore Operation. Given the long history of iron ore mining in the region, Illaara is well situated in relation to existing road and rail infrastructure.

Dreadnought acquired the project from Newmont in 2019 and has consolidated the rest of the greenstone belt through a series of acquisitions. Early drilling by Dreadnought focused on the historical workings at Metzke’s Find resulting in the current Resource being declared in 2023. Given the lack of systematic modern exploration, including air core, Illaara presents a strong opportunity to make a major gold discovery within the worldrenowned Yilgarn Craton.

Figure 5: Map showing the location of Illaara relative to other gold operations and major players in the region.

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Dreadnought’s work plan summary

	Mar 2026 Quarter	June 2026 Quarter	June 2026 Quarter
				Sept 2026 Quarter	Dec 2026 Quarter
Star of Mangaroon Mine	Approvals and commencement of mining, production and processing through Paulsens Gold Operations (BC8 JV)
Mangaroon Discovery Drilling			RC drilling at Cullens -
				RC drilling of defined targets at Bordah (Steve’s Find), High Range
			Midnight Star Trend (Minga
				North, High Range South, Minga Bar Camp Scale Targets
			Bar Camp Scale Target)
Mangaroon Exploration	Ongoing target definition work at Bordah, High Range North, High Range South, Minga
	Bar Camp Scale Targets
Metzke’s Find Studies and Approvals	Mining Lease Application			Resource update and Scoping Study
	Technical and Environmental Studies			Mining Proposal and Closure Plan submission
Metzke’s Find Drilling	Metzke’s Find infill and	Metzke’s Find Resource and study related RC and diamond
	extension RC drilling	drilling
Illaara Exploration and Discovery				Phase 2 air core drilling and	Phase 3 air core drilling and RC
	Phase 1wide spaced air core drilling over 40km strike
				RC drilling (pending results)	drilling (pending results)

Upcoming News

• February: Mineralogy results from diamond drilling at Stinger Nb-REE

• February: Results from target generation and definition work – Mangaroon Gold

• February: Results from drilling at Star of Mangaroon – Mangaroon Gold

• February: Commencement of air core drilling – Illaara Gold

• 17-19 February: Presenting at the RIU Explorers Conference in Fremantle

• February/March: Commencement of RC drilling at Metzke’s Find- Illaara Gold

• March: Results from diamond drilling at Stinger and Steve’s Reward

• April: Quarterly Activities and Cashflow Report

• April/May: Commencement of RC drilling at Cullens and Midnight Star – Mangaroon Gold

• April/May: Results from RC drilling at Metzke’s Find- Illaara Gold

• April to June: Results from air core drilling – Illaara Gold

For further information please refer to previous ASX announcements:

• 24 June 2019 75 km Long Illaara Greenstone Belt Acquired from Newmont

• • 6 December 2019 Consolidation of 75km Long Illaara Greenstone Belt • 19 March 2020 RC Drilling Hits High Grades at Metzke’s Find • 13 July 2020 RC Drilling Hits High Grade Gold at Metzke’s Find • 25 September 2020 Further High-Grade Gold from Metzke’s Find • 27 April 2021 Illaara Update and Regional Target Generation • 1 November 2022 Successful Drill Results Across Multiple Metals • 27 April 2023 Initial High-Grade Gold Resource at Metzke’s Find

~Ends~

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

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

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Snapshot – Illaara Gold (100%)

Illaara Gold is Large Scale and Underexplored

• Illaara covers over 70 strike kms and ~800km[2] of the Illaara Greenstone Belt within the richly endowed Yilgarn Craton of Western Australia.

• The Illaara Greenstone Belt is one of the most under explored and under drilled greenstone belts in the Yilgarn providing plenty of space for a major discovery.

• Covering ~800km[2] is a significant consolidated landholding within a tightly held and highly prospective gold province.

Consolidation Provides for First Ever Modern Exploration

• All historical workings and known gold occurrences relate to outcropping mineralisation. There has been minimal historical and modern exploration due to remoteness and iron ore exploration.

• 2026 will see the first ever systematic air core drilling program undertaken across the belt, a drilling program that previous owners Newmont wanted to undertake prior to Dreadnought acquiring the project in 2019 and consolidating the remainder of the belt.

Significant, Step-change, Growth Potential

• Illaara contains multiple highly prospective structural corridors with known gold anomalism providing near term drilling targets and discovery potential.

• Dreadnought is deploying modern geochemical and geophysical techniques to explore for mineralisation under shallow cover.

Shallow, High-grade Gold at Metzke’s Find

• The Resource at Metzke’s contains shallow, high-grade gold which provides a strong foundation for the project.

• Mineralisation at Metzke’s Find remains open along strike and at depth.

Metzke’s Find – Indicated and Inferred Resources (ASX 27 April 2023)

Table 1: Resource (0.5g/t Au cutoff grade) - Numbers may not add up due to rounding

Type	Indicated	Indicated	Indicated	Inferred	Inferred	Inferred	Total	Total	Total
	Tonnes	Au(g/t)	Au (Oz)	Tonnes	Au(g/t)	Au (Oz)	Tonnes	Au(g/t)	Au (Oz)
Transition	800	1.1	30	1,100	17.4	600	1,900	10.3	600
Fresh	44,600	7.4	10,600	21,800	5.2	3,600	66,500	6.7	14,300
Total	45,00	7.3	10,700	22,900	5.8	4,200	68,400	6.8	14,900

Self-Funded Explorer Strategy – Pathway to Production

• Dreadnought’s strategy is to transform into a self-funded explorer. This includes a high-grade open pit at the Metzke’s Find where funding, development, haulage & processing are outsourced to third parties. This is a common model in WA given the robust gold price. In this way, there is reduced reliance on market funding and internal cashflows are aimed at making life-changing discoveries.

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Projects Overview

Mangaroon Project

Mangaroon covers ~5,000kms[2] and is located 250kms south-east of Exmouth in the Gascoyne Region of WA. Since 2020, Dreadnought has identified three major focus areas within the Mangaroon Project:

Mangaroon Gold (100%)

Outcropping gold mineralisation was first identified and mined at Mangaroon by local pastoralists and prospectors in the 1960s and has seen no modern gold exploration. Dreadnought has consolidated this gold field and is undertaking the first modern exploration across the region which has identified five camp scale gold opportunities at Bordah, High Range, Alma, Minga Bar and Star of Mangaroon.

In addition, the project contains granted mining leases that provide an opportunity for cashflow including the Star of Mangaroon Mine where Dreadnought has delivered a 23,400 oz Resource at 12.8g/t Au (84% Indicated)

Gifford Creek Critical Metals (100%)

Dreadnought discovered the Yin Ironstones and the Gifford Creek Carbonatite in 2021. Since then, the Gifford Creek Carbonatite Complex has emerged as a globally significant, rapidly growing, potential source of critical minerals. Highlights include:

• Discovery of the Yin REE Ironstone Complex and delivery of a 30.0Mt @ 1.04% TREO Resource over only ~4.6kms – including a Measured and Indicated Resource of 26.3Mt @ 1.04% TREO (ASX 30 Nov 2023).

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• Discovery of the globally significant, Nb-REE-P-Ti-Sc enriched Gifford Creek Carbonatite (ASX 7 Aug 2023).

• Delivery of a large, independent initial Resource of 10.8Mt @ 1.00% TREO at the Gifford Creek Carbonatites, containing a range of critical minerals including rare earths, niobium, phosphate, titanium and scandium (ASX 28 Aug 2023).

• Discovery of Stinger Nb-REE-P-Ti-Sc-Zr bearing carbonatite and delivery of the Stinger Niobium Exploration Target (ASX 3 Mar 2025, 29 Sept 2025).

Money Intrusion Ni-Cu-PGEs (Teck Earn-In)

The Money Intrusion is a ~45km long mafic intrusion prospective for Ni-Cu-PGE massive sulphides. In 2023, Dreadnought discovered high tenor nickel-copper massive sulphides confirming the potential of this new system. Dreadnought entered in to a $15M Farm-In and Joint Venture agreement with Teck Resources, a leading Canadian resource company, to earn up to 75% of the Money Intrusion tenements.

Illaara Gold Project (100%)

Illaara is located ~190km northwest of Kalgoorlie in the Yilgarn Craton. The project comprises ~800km[2] covering ~70km of strike along the Illaara greenstone belts. Illaara was acquired off Newmont in 2019 as an early stage exploration project prospective for typical Archean mesothermal lode gold deposits. Dreadnought has delivered a 14,900 oz @ 6.8g/t Au Resource at Metzke’s Find (72% Indicated). Prior to consolidation by Dreadnought, Illaara was predominantly held by iron ore explorers and remains highly prospective for iron ore amongst other commodities.

Kimberley Cu-Au-Sb Project (Tarraji 80% / Yampi 100%)

Tarraji-Yampi covers ~420km[2] is located only 85kms from Derby in the West Kimberley region of WA and was locked up as a Defence Reserve since 1978. The project has outcropping mineralisation and historical workings which have seen no modern exploration.

In 2021, Dreadnought discovered high grade Cu-Au massive sulphides at Orion with results to date indicating a large scale, Proterozoic Cu-Au VMS system at Tarraji-Yampi, similar to DeGrussa and Monty in the Bryah Basin.

In addition, the project contains outcropping high-grade Cu-Ag-Sb-Bi Veins at Rough Triangle and Grant’s Find.

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Cautionary Statement

This announcement and information, opinions or conclusions expressed in the course of this announcement contains forecasts and forward-looking information. Such forecasts, projections and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those expressed or implied. There are a number of risks, both specific to Dreadnought, and of a general nature which may affect the future operating and financial performance of Dreadnought, and the value of an investment in Dreadnought including and not limited to title risk, renewal risk, economic conditions, stock market fluctuations, commodity demand and price movements, timing of access to infrastructure, timing of environmental approvals, regulatory risks, operational risks, reliance on key personnel, reserve estimations, native title risks, cultural heritage risks, foreign currency fluctuations, and mining development, construction and commissioning risk.

Competent Person’s Statement – Mineral Resources

The information in this announcement that relates to the Star of Mangaroon Mineral Resource is based on information compiled by Mr. Shaun Searle, a Competent Person who is a Member of the Australian Institute of Geoscientists. Mr. Searle is an employee of Ashmore Advisory Pty Ltd. Mr. Searle has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves’. Mr. Searle consents to the inclusion in the announcement of the matters based on his information in the form and context that the information appears in relation to Mineral Resource estimates.

Competent Person’s Statement – Exploration Results

The information in this announcement that relates to geology, exploration results and planning, and exploration targets was compiled by Mr. Dean Tuck, who is a Member of the AIG, Managing Director, and shareholder of the Company. Mr. Tuck has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Tuck consents to the inclusion in the announcement of the matters based on the information in the form and context in which it appears.

The Company confirms that it is not aware of any further new information or data that materially affects the information included in the original market announcements by Dreadnought Resources Limited referenced in this report and in the case of Mineral Resources, Production Targets, forecast financial information and Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. To the extent disclosed above, the Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

Resources Summary

Star of Mangaroon – Indicated and Inferred Resources (ASX 27 November 2024)

Table 2: Resource (2g/t Au cut off grade) - Numbers may not add up due to rounding. *Surface reported at a 0.5g/t Au cut-off.

Type	Measured	Measured	Measured	Indicated	Indicated	Indicated	Inferred	Inferred	Inferred	**Total **	**Total **	**Total **
	Tonnes	Au(g/t)	Au(Oz)	Tonnes	Au(g/t)	Au(Oz)	Tonnes	Au(g/t)	Au(Oz)	Tonnes	Au(g/t)	Au(Oz)
Surface*							8,300	1.0	300	8,300	1.0	300
Transition	6,300	24.9	5,100	3,300	6.5	700				9,600	18.6	5,800
Fresh	33,200	13.5	14,400	23,500	8.5	6,400	1,000	5.1	200	57,700	11.3	21,000
Total	39,500	15.3	19,400	26,800	8.2	7,100	9,300	1.4	400	75,600	11.1	27,000

Metzke’s Find – Indicated and Inferred Resources (ASX 27 April 2023) Table 3: Resource (0.5g/t Au cut off grade) - Numbers may not add up due to rounding

Type	Indicated	Indicated	Indicated	Inferred	Inferred	Inferred	Total	Total	Total
	Tonnes	Au(g/t)	Au (Oz)	Tonnes	Au(g/t)	Au (Oz)	Tonnes	Au(g/t)	Au (Oz)
Transition	800	1.1	30	1,100	17.4	600	1,900	10.3	600
Fresh	44,600	7.4	10,600	21,800	5.2	3,600	66,500	6.7	14,300
Total	45,00	7.3	10,700	22,900	5.8	4,200	68,400	6.8	14,900

Yin Ironstone Complex – Yin, Yin South, Y2, Sabre Measured, Indicated and Inferred Resources (ASX 30 November 2023) Table 4: Summary of Yin Resources at 0.20% TREO Cut off.

Type Measured Indicated Inferred Total Tonnes (Mt) TREO (%) TREO (kt) Tonnes (Mt) TREO (%) TREO (t) Tonnes (Mt) TREO (%) TREO (t) Tonnes (Mt) TREO (%) TREO (t) NdPr:TREO Ratio (%) Oxide 2.47 1.61 39.7 13.46 1.06 142.6 1.51 0.75 11.2 17.44 1.11 193.6 29 Fresh 2.70 1.09 29.5 7.67 0.95 72.8 2.17 0.75 16.3 12.54 0.95 118.7 29 Total 5.17 1.34 69.3 21.13 1.02 215.4 3.68 0.75 27.6 29.98 1.04 312.3 29 Table 5: Summary of Yin Resources at 1.00% TREO Cut off. Type Measured Indicated Inferred Total Tonnes (Mt) TREO (%) TREO (kt) Tonnes (Mt) TREO (%) TREO (t) Tonnes (Mt) TREO (%) TREO (t) Tonnes (Mt) TREO (%) TREO (t) NdPr:TREO Ratio(%) Oxide 1.60 2.22 35.6 5.34 1.99 106.4 0.26 1.67 4.3 7.20 2.03 146.3 30 Fresh 1.36 1.68 22.8 2.65 1.81 47.9 0.42 1.72 7.3 4.43 1.76 78.0 29 Total 2.96 1.97 58.4 7.99 1.93 154.3 0.68 1.70 11.6 11.63 1.93 224.3 29 Gifford Creek Carbonatite – Inferred Resource(ASX 28 August 2023) Table 6: Summary of the Gifford Creek Carbonatite Inferred Resource at various % TREO Cut offs. Cut-Off (%TREO) Resource (Mt) TREO (%) NdPr:TREO (%) Nb2O5 (%) P2O5 (%) TiO2 (%) Sc (ppm) Contained TREO (t) Contained Nb2O5 (t) 0.70 10.84 1.00 21 0.22 3.5 4.9 85 108,000 23,700	Type	Measured	Measured	Measured	Indicated	Indicated	Indicated	Indicated	Inferred	Inferred	Inferred	Inferred	Inferred	Inferred	**Total **	**Total **	**Total **	**Total **	**Total **	**Total **	**Total **
		Tonnes (Mt)	TREO (%)	TREO (kt)	Tonnes (Mt)	TREO (%)		TREO (t)	Tonnes (Mt)		TREO (%)		TREO (t)		Tonnes (Mt)		TREO (%)		TREO (t)		NdPr:TREO Ratio (%)
	Oxide	2.47	1.61	39.7	13.46	1.06		142.6	1.51		0.75		11.2		17.44		1.11		193.6		29
	Fresh	2.70	1.09	29.5	7.67	0.95		72.8	2.17		0.75		16.3		12.54		0.95		118.7		29
	Total	5.17	1.34	69.3	21.13	1.02		215.4	3.68		0.75		27.6		29.98		1.04		312.3		29
	Table 5: Summary of Yin Resources at 1.00% TREO Cut off.
	Type	Measured			Indicated				Inferred						Total
		Tonnes (Mt)	TREO (%)	TREO (kt)	Tonnes (Mt)	TREO (%)		TREO (t)	Tonnes (Mt)		TREO (%)		TREO (t)		Tonnes (Mt)		TREO (%)		TREO (t)		NdPr:TREO Ratio(%)
	Oxide	1.60	2.22	35.6	5.34	1.99		106.4	0.26		1.67		4.3		7.20			2.03	146.3		30
	Fresh	1.36	1.68	22.8	2.65	1.81		47.9	0.42		1.72		7.3		4.43			1.76	78.0		29
	Total	2.96	1.97	58.4	7.99	1.93		154.3	0.68		1.70		11.6		11.63			1.93	224.3		29
	Cut-Off (%TREO)		Resource (Mt)		TREO (%)		NdPr:TREO (%)			Nb2O5 (%)		P2O5 (%)		TiO2 (%)		Sc (ppm)		Contained TREO (t)		Contained Nb2O5 (t)
	0.70		10.84		1.00		21			0.22		3.5		4.9		85		108,000		23,700

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Table 7: Drill Collar Data (GDA94 MGAz50) and Significant Intercepts (>0.1g/t Au)

Hole ID	Easting	Northing	RL	Dip	Azi	EOH	Type	From	To	Interval (m)	Grade (g/t Au)	Prospect
MZRC067	214584	6757762	484	-56	92	138	RC	-				Metzke’s Find
MZRC068	214580	6757803	492	-55	94	114	RC	85	87	2	4.2
Incl.								85	86	1	8.1
MZRC069	214560	6757807	489	-56	86	132	RC	-
MZRC070	214586	6757838	474	-55	92	102	RC	72	74	2	0.2
MZRC071	214563	6757827	472	-55	88	132	RC	99	102	3	0.2
MZRC072	214552	6757859	477	-56	96	162	RC	136	138	2	17.0
Incl.								136	137	1	30.4
MZRC073	214580	6757893	470	-56	88	102	RC	-
MZRC074	214556	6757868	469	-57	88	132	RC	-
MZRC075	214581	6757924	471	-56	90	84	RC	65	73	8	1.6
Incl.								65	66	2	5.0
MZRC076	214547	6757941	475	-56	80	138	RC	117	123	6	8.9
Incl.								118	119	1	51.6
MZRC077	214613	6758032	478	-57	92	36	RC
MZRC078	214593	6758035	478	-56	95	66	RC	39	42	3	0.9
Incl.								40	41	1	2.1
MZRC079	214469	6758058	484	-58	86	84	RC	-
MZRC080	214428	6758053	478	-57	93	78	RC	-
MZRC081	214392	6758054	489	-57	89	78	RC	-
MZRC082	214358	6758056	490	-58	94	84	RC	-
MZRC083	214631	6758149	497	-58	91	78	RC	-
MZRC084	214599	6758150	471	-56	93	80	RC	-
MZRC085	214606	6758214	473	-56	88	78	RC	-
MZRC086	214576	6758208	474	-56	92	84	RC	42	43	1	0.4
and								47	48	1	0.2
MZRC087	214533	6758212	475	-56	94	84	RC	-
MZRC088	214494	6758207	475	-57	93	84	RC	-
MZRC089	214454	6758203	474	-56	93	84	RC	-
MZRC090	214412	6758197	473	-56	94	84	RC	-
MZRC091	214569	6758247	474	-56	95	84	RC	72	73	1	0.3
MZRC092	214596	6758287	475	-56	91	84	RC	-
MZRC093	214561	6758291	475	-57	92	108	RC	-
MZRC094	214530	6758301	477	-56	98	60	RC	-
MZRC095	214619	6758364	481	-55	90	90	RC	-
MZRC096	214586	6758368	483	-56	94	84	RC	-
MZRC097	214547	6758365	487	-56	91	84	RC	-
MZRC098	214641	6758710	500	-55	92	84	RC	-
MZRC099	214602	6758713	493	-56	91	84	RC	-
MZRC100	214567	6758708	482	-56	93	84	RC	-
MZRC101	214457	6758907	481	-55	91	84	RC	-
MZRC102	214424	6758895	480	-56	91	84	RC	-
MZRC103	214594	6758217	465	-56	88	42	RC	20	30	10	1.5
Incl.								22	24	2	5.8
MZRC104	214616	6758005	462	-56	90	30	RC	7	8	1	11.6
MZRC105	214614	6757949	462	-55	92	30	RC	10	15	5	0.1
MZRC106	214617	6757906	460	-55	92	30	RC	6	7	1	0.4
MZRC107	214631	6757744	461	-56	91	30	RC	18	20	2	Void
MZRC108	214755	6759198	482	-55	89	81	RC	-
MZRC109	214714	6759197	484	-55	93	84	RC	-
MZRC110	214674	6759194	486	-55	90	84	RC	-

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JORC Code, 2012 Edition – Table 1 Report Template Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	**JORC Code explanation **	Commentary
Sampling techniques	• Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	Reverse Circulation (RC) drilling was undertaken to produce samples for assay. RC Drilling Two sampling techniques were utilised for the RC drilling, 1m metre splits directly from the rig sampling system for each metre and 3m composite sampling from spoil piles. Samples submitted to the laboratory were determined by the site geologist. 1m Splits From every metre drilled a 2-3kg sample (split) was sub- sampled into a calico bag via a Metzke cone splitter from each metre of drilling. 3m Composites All remaining spoil from the sampling system was collected in buckets from the sampling system and neatly deposited in rows adjacent to the rig. An aluminium scoop was used to then sub-sample each spoil pile to create a 2-3kg 3m composite sample in a calico bag. A pXRF is used on site to help determine mineralised samples. Mineralised intervals have the 1m split collected, while unmineralised samples have 3m composites collected. All samples are submitted to ALS Laboratories in Perth for determination of gold by Photon assay from crushed sample (ALS Method Au-PA01). Select samples are also submitted for 48 multi-elements via 4 acid digestion with MS/ICP finish (ALS Code ME-MS61) to assist with lithological interpretation. QAQC samples consisting of duplicates, blanks and CRM’s (OREAS Standards) are inserted through the program at a rate of 1:50 samples.
Drilling techniques	• Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).	RC Drilling Drilling was completed by Precision Exploration Drilling (PXD) utilising a DRA 600 truck mounted drill rig with additional air from an auxiliary compressor and booster. Bit size was 5¾“.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	RC Drilling Drilling was undertaken using a ‘best practice’ approach to achieve maximum sample recovery and quality through the mineralised zones. Best practice sampling procedure included: suitable usage of dust suppression, suitable shroud, lifting off bottom between each metre, cleaning of sampling equipment, ensuring a dry sample and suitable supervision by the supervising geologist to ensure good sample quality.
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. • The total length and percentage of the relevant intersections logged.	RC Drilling RC chips were logged under the supervision of a Senior Geologist with sufficient experience in this geological terrane and relevant styles of mineralisation using an industry standard logging system which could eventually be utilised within a Mineral Resource Estimation. Lithology, mineralisation, alteration, veining, weathering and texture were all recorded digitally. Chips were washed each metre and stored in chip trays for preservation and future reference. RC pulp material is also analysed on the rig by pXRF to assist with logging and the identification of mineralisation. RC logging is qualitative, quantitative or semi-quantitative in nature.
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. • For all sample types, the nature,quality and	RC Drilling From every metre drilled, a 2-3kg sample (split) was sub- sampled into a calico bag via a Metzke cone splitter. QAQC in the form of duplicates and CRM’s (OREAS Standards) were inserted through the ore zones at a rate of

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Criteria	**JORC Code explanation **	Commentary
	appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.	1:50 samples. Additionally, within mineralised zones, a duplicate sample was taken and a blank inserted directly after. 2-3kg samples are submitted to ALS laboratories (Perth), oven dried to 105°C and crushed to >90% passing 3mm to produce a 500g charge for determination of gold by Photon Assay from crushed sample (ALS Method Au-PA01). Additional material is then pulverised to 85% passing 75um to produce a 0.25g charge for determination of 48 multi- elements via 4 acid digestion with MS/ICP finish (ALS Code ME-MS61). Standard laboratory QAQC is undertaken and monitored.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	Laboratory Analysis Photon Assay is considered a total analysis and Method Au- PA01 is appropriate for Au determination. ME-MS61 is considered a near total digest and is appropriate for pathfinder determination. Standard laboratory QAQC is undertaken and monitored by the laboratory and by the company upon assay result receival.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	Logging and Sampling Logging and sampling were recorded directly into a digital logging system, verified and eventually stored in an offsite database. Significant intersections are inspected by senior company personnel. No diamond twinning has been undertaken at this time. No adjustments to any assay data have been undertaken. Additional 1m splits have been sent to the lab for the 3m composites that have returned mineralisation. And all mineralised intervals will be reassayed by PhotonAssay Technique.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	Initial collar positions are recorded using a GPSMAP 65 (+/- 3.5m x/y, +/-120m z). Collar positions will be recorded using a Emlid Reach RS2 RTK GPS system (+/- 0.3m x/y, +/-0.5m z). GDA94 Z50s is the grid format for all xyz data reported. Azimuth and dip of the drill hole was recorded by PXD after the completion of the hole using an Axis Champ Gyro. A reading was undertaken every 15thmetre with an accuracy of +/- 0.75° azimuth and +/-0.15° dip.
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.	Data spacing of drill results is varied. Drill spacing at Metzke’s North is not suitable for Mineral Resource Estimation. Drilling at Metzke’s Find is of adequate spacing and distribution to review the already published Metzke’s Find Resource. Both 3m scoop composites and 1m splits are collected.
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	Drilling was undertaken at a near perpendicular angle to the interpreted strike and dip of the mineralised lode. No sample bias is known at this time. At this early stage of exploration, mineralisation true thickness’s, orientation and dips are not known.
Sample security	• The measures taken to ensure sample security.	All geochemical samples were collected, bagged, and sealed by Dreadnought staff and were delivered directly to ALS Laboratories Perth by Dreadnought Contractors and/or Personnel.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	The program is continuously reviewed by senior company personnel.

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Section 2 Reporting of Exploration Results (Criteria in this section apply to all succeeding sections.)

Criteria	**JORC Code explanation **	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	The Illaara Project consists of 11 granted Exploration Licenses (E29/957, E29/959, E29/965, E29/1050, E29/1153, E29/1204, E29/1205, E30/471, E30/476, E30/485, E30/554), 1 pending Exploration License (E30/558) and 1 pending Mining License (M29/462). All tenements are 100% owned by Dreadnought Resources. Tenements E30/471, E30/476, E29/957 and E29/959 are subject to a 1% NSR retained by Newmont. E29/1050 and M29/462 are subject to a 1% NSR retained by Gianni, Peter Romeo. There are currently no clear Native Title Claims over the Illaara Project. Part of the Illaara Project is located on WallingRock Station.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	Newmont Exploration has undertaken exploration activities from 2016-2019 which are mentioned in previous reports. Historical exploration of a sufficiently high standard was carried out by numerous parties which have been outlined and detailed in previous ASX announcements: Eastern Group 1988: WAMEX Report A22743 Anglo Australian 1995: WAMEX Report A45251 Polaris 2006-2007: WAMEX Report A75477
Geology	• Deposit type, geological setting and style of mineralisation.	The Illaara Project is located within the Illaara Greenstone Belt within the Southern Cross Domain of the Youanmi Terrane approximately 60kms west of the Ida Fault; The Illaara Project is prospective for orogenic gold, iron ore, LCT pegmatites, VMS and komatiite hosted nickel mineralisation; Mineralisation at Metzke’s is quartz vein hosted within sheared undifferentiated mafic rocks.
Drill hole information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	An overview of the drilling program is given within the text and tables within this document.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	All sample intervals with a minimum length of 1m and assays greater than 0.1g/t Au have been reported. No top cuts have been applied to exploration results. No metal equivalents are reported.
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	All intercepts are reported as downhole lengths. Drilling was undertaken at a near perpendicular angle to the interpreted strike and dip of the mineralised lodes. True widths are estimated to be between 70-90% of down hole lengths.
Diagrams	• Appropriate maps and sections (with scales) and	Refer to figures within this report.

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Criteria	**JORC Code explanation **	Commentary
	tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	The accompanying document is a balanced report with a suitable cautionary note. Figures within the announcement show the location and results of all drilling data within the reported area.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	Suitable commentary of the geology encountered are given within the text of this document.
Further work	• The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Additional RC drilling Diamond drilling Metallurgical and geotechnical surveys Economic Studies

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