DREADNOUGHT RESOURCES LTD — Director's Dealing 2008

Jul 20, 2008

21 July 2008

Mr Dion Silvy Senior Adviser, Issuers (Adelaide) 81 King William Street ADELAIDE SA 5000

Dear Sir.

Eromanga Uranium Limited ("Company") - Response to ASX Query re Appendix 3Y

We refer to your letter dated 17 July 2008 In relation to the Appendix 3Y lodged by the Company with ASX on Thursday, 17 July 2008 for Ewan Vickery, concerning an off-market transfer.

We respond as follows, adopting the numbering on page 2 of your letter;

• 1. The Appendix 3Y was lodged late inadvertently, and was lodged promptly upon the inadvertent omission being discovered by the Company during a review of its compilance with the ASX Listing Rules.
• $2.$ The Company and each of its directors are taking steps to execute agreements in the form of the pro-forma document set out under Attachment 1 of Guidance Note 22 of the ASX Listing Rules to ensure that the Company's disclosure obligations under ASX Listing Rule 3.19A will be met in the future. It is expected these agreements will be in place before the close of business today. In addition, the Company has been advised that the manner in which Mr Vickery's "notifiable interests" in securities in the Company are heid has been simplified, making compliance with the requirements of ASX Listing Rule 3.19A In the future much simpler. The Company refers to its letter dated 17 July 2008 in that regard.
• 1. The directors of the Company are each committed to complying with the terms and conditions set out in the agreements referred to in paragraph 2 above.

Yours sincerely,

RWCLill

Richard Willson Company Secretary

Eromanga Uranium Ltd ABN 40 119 031 864

62 Beulah Road Norwood 5067 South Australia

PO Box 3126 Norwood 5067 South Australia

telephone 61 8 8132 7970 facsimile 61 8 8132 7999 email info@eromangauranium.com

ASX Limited ABN 98 008 624 691 91 King William Street Adelaide SA 5000 GPO Box 547 Adelaide SA 5001

Telephone 61 8 82165034 Facsimile 61 8 8216 5099 Internet http://www.asx.com.au

17 July 2008

Richard Willson Company Secretary Eromanga Uranium Limited PO Box 3126 Norwood SA 5067

By facsimile: (08) 8132 7999

Dear Richard

Eromanga Uranium Limited (the "Company") Appendix 3Y - Change of Director's Interest Notice

We refer to the following:

• 1. The Appendix 3Y lodged by the Company with ASX on Thursday 17 July 2008 for Ewan Vickery concerning an off market transfer;
• 1. Listing rule 3.19A which requires an entity to tell ASX the following:
• $3.19A.1$ The notifiable interests of a director of the entity (or in the case of a trust, a director of the responsible entity of the trust) at the following times.
  • On the date that the entity is admitted to the official list. $\bullet$
  • On the date that a director is appointed.

The entity must complete Appendix 3X and give it to ASX no more than 5 business days after the entity's admission or a director's appointment.

• 3.19A.2 A change to a notifiable interest of a director of the entity (or in the case of a trust, a director of the responsible entity of the trust). The entity must complete Appendix 3Y and give it to ASX no more than 5 business days after the change occurs.
• 3.19A.3 The notifiable interests of a director of the entity (or in the case of a trust, a director of the responsible entity of the trust) at the date that the director ceases to be a director. The entity must complete Appendix 3Z and give it to ASX no more than 5 business days after the director ceases to be a director.
• 1. Listing rule 3.19B which states as follows.

An entity must make such arrangements as are necessary with a director of the entity (or in the case of a trust, a director of the responsible entity of the trust) to ensure that the director discloses to the entity all the information required by the entity to give ASX completed Appendices 3X, 3Y and 3Z within the time period allowed by listing rule 3.19.A. The entity must enforce the arrangements with the director.

1. The Companies Update dated 27 June 2008, reminding listed entities of their obligation to notify ASX within 5 business days of the notifiable Interests in securities held by each director and outlining the action that ASX would take in relation to breaches of listings rules 3.19A and 3.19B.

As the Appendix 3Y indicated that a change in the director's relevant interests occurred on 25 July 2007 it appears that there may have been a breach by the Company of listing rules 3.19A and/or 3.19B. It also appears that there may have been a breach of S205G of the Corporations Act by the director concerned.

Please note that ASX is required to record details of breaches of the listing rules by listed companies for its reporting requirements.

ASX reminds the Company of its contract with ASX to comply with the listing rules. In the circumstances ASX considers that it is appropriate that the Company make necessary arrangements to ensure there is not a reoccurrence of a breach of the listing rules.

Having regard to listing rules 3.19A and 3.19B and Guidance Note 22: "Director Disclosure of Interests and Transactions in Securities - Obligations of Listed Entities", we ask that you answer each of the following questions.

• $\mathbf{1}$ . Please explain why the Appendix 3Y was lodged late.
• What arrangements does the Company have in place with its directors to ensure that it is able to meet 2. its disclosure obligations under listing rule 3.19A?
• If the current arrangements are inadequate or not being enforced, what additional steps does the 3 Company intend to take to ensure compliance with listing rule 3.19B?

Your response should be sent to me by e-mail at Dion Silvy@asx.com.au or by facsimile on facsimile number (08) 8216 5099. It should not be sent to the Company Announcements Office.

A response is requested as soon as possible and, in any event, not later than half an hour before the start of trading (i.e. before 9.30 a.m. A.E.S.T.) on Monday, 21 July 2008.

Under listing rule 18.7A, a copy of this query and your response will be released to the market, so your response should be in a form suitable for release and should separately address each of the questions asked. If you have any queries or concerns, please contact me immediately

Yours Sincerely,

$D$ AII

Dion Silvy Senior Adviser (Issuers), Adelaide

Direct Line: (08) 8216 5034