DREADNOUGHT RESOURCES LTD — Interim / Quarterly Report 2014

Jul 29, 2014

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QUARTERLY REPORT

Period ending 30 June 2014

KEY EVENTS

HIGHLIGHTS

• z Spargoville aircore resample results has returned highly anomalous gold intercepts from Core Farm, Golden Orb South and Fugitive prospects.

• z Air core drilling program completed at Spargoville returning highly anomalous gold results at Golden Orb prospect.

• z High grade paleochannel gold results from Core Farm prospect.

• z RC (reverse circulation) drilling at various prospects at Spargoville Gold project returned significant composite gold results.

• z Capital raising successfully concluded in June 2014.

• z Tanami Farm-in and JV by Ramelius Resources Ltd.

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Tanami Mill Ta nami
Granites Mill
NORTHERN
TERRITORY QUEENSLAND
WESTERN
AUSTRALIA
SOUTH
Spargoville AUSTRALIA
Va lley Floor NEW SOUTH WALES
Gold project 500km VICTORIA
TAS
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Spargoville aircore resample results (2 May 2014)

• z Core Farm paleochannel – 1m @ 51.1g/t Au from 16m.

• z Core Farm weathered basement – 1m @ 8.1g/t Au from 37m.

• z Golden Orb South weathered basement – 1m @ 37.6/t Au from 41m.

• z Golden Orb South weathered basement – 3m @ 18.6g/t Au from 49m including 1m @ 50.5g/t Au from 49m.

• z Fugitive weathered basement – 13m @ 2.68g/t Au from 44m including 1m @ 12.1g/t Au from 49m.

Highly anomalous gold results within Spargoville regional air core drilling (10 June 2014)

• z Drilling to the east of the Golden Orb prospect intersected highly anomalous results including 4m @ 13.2g/t Au from 32m (SPAC0156) and 4m @ 6.21g/t Au from 52m.

• z Drilling to the south east of the Golden Orb prospect intersected anomalous (≥1.0g/t gold) results including 8m @ 2.95g/t Au from 44m (SPAC0159) and 4m @ 3.48g/t Au from 48m (SPAC0166).

Tychean Resources Limited ACN 119 031 864 | Level 3, 100 Pirie Street Adelaide South Australia 5000 Phone +61 8 7324 3195 | Fax +61 8 8312 5576 | Email info@tycheanresources.com | Web www.tycheanresources.com

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Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2014

High grade paleochannel gold intersected in air core drilling (19 June 2014)

• z 3m @ 10.7g/t Au from 16m including 1m @ 29.0g/t A u from 16m (SPAC0204)

• z 2m @ 22.4g/t Au from 15m including 1m @ 43.5g/t Au from 15m (SPAC0261)

• z 1m @ 34.7g/t Au from 13m (SPAC0279)

• z 1m @ 14.9g/t Au from 10m (SPAC0286)

High grade gold results from close spaced air core drilling completed at the Core Farm prospect located within the Company’s wholly owned Spargoville Gold Project (Figure 1).

Significant composite gold results from RC drilling at Spargoville (WA)

• z 5B prospect – 8m @ 6.15g/t Au from 76m including 4m @ 11.0g/t Au from 76m

• z Golden Orb South – 20m @ 1.77g/t Au from 84m including 4m @ 4.65g/t Au from 84m

• z Hilditch Gold – 4m @ 4.78g/t Au from 140m

Significant composite sample results from the reverse circulation (RC) drilling (28 holes for 3,380m) completed late in May 2014. The RC drilling was completed over 10 prospects within the Company’s wholly owned Spargoville Gold Project (Figure 1).

REVIEW OF OPERATIONS

CORPORATE ACTIVITIES

On the 21 May 2014, Tychean Resources Limited announced it would undertake a capital raising of up to $1.9 million comprising:

A placement (“Placement”) of approximately 136.5 million fully paid ordinary shares at $0.003 per share to raise approximately $0.4 million, with 1 free option being issued for every 2 new shares subscribed for under the Placement; and

The options to be issued under the Placement and Entitlement Issue will be exercisable at $0.006 on or before 30 June 2015 (“New Options”). The Company will apply for official quotation of the New Options.

Proceeds to be used primarily to advance exploration activity at the Spargoville and Valley Floor Gold Projects.

Results of placement

The placement was made to sophisticated and professional investors under the Company’s existing 15% placement capacity, and the Placement shares were issued on Wednesday, 28 May 2014. New shares issued under the Placement rank equally with existing shares in Tychean. The New Options were issued on the same date as the shares and quoted on Tuesday, 1 July 2014.

Results of entitlement issue

The Capital Raising Program was successfully concluded 30 June 2014, with the returns from the Rights Issue Entitlement closing at $628,436.265 for 209,478,755 shares. With the $409,500 from the Placement made in May 2014, giving a grand total of $1,037,936.265, albeit there still remains for the partial underwriting and Shortfall placement to be taken in to account.

Tanami Farm-in and JV

Highlights

• Farm-in and JV agreement finalised with Ramelius Resources Limited over Tychean’s 1,700km[2] prospective land package within the Tanami Complex – Northern Territory.

Tychean is pleased to announce that the Company has finalised terms with Gold Miner Ramelius Resources Limited (ASX:RMS) for Ramelius to farm-in on a package of two granted exploration licences (ELs) and six EL applications in the Australian Northern Territory.

The package of tenements is located within 100km of Newmont’s plus 4.5 million ounce Callie gold mine within the Northern Territory Tanami Complex. (Figure 5).

The land package represents a unique opportunity to explore over 1,700km[2] of prospective Paleoproterozoic stratigraphy within a significant yet underexplored gold province.

A non-renounceable 1 for 3 entitlement issue (“Entitlement Issue” or “Offer”) at $0.003 per share to raise up to approximately $1.5 million, with 1 free option being issued for every 2 new shares subscribed for under the Entitlement Issue.

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Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2014

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Figure 1 Spargoville Gold Project prospect location plan.

EXPLORATION ACTIVITIES

Western Australia – Spargoville Gold Project

Spargoville aircore resample results (2 May 2014)

• Core Farm paleochannel – 1m @ 51.1g/t Au from 16m.

• Core Farm weathered basement – 1m @ 8.1g/t Au from 37m.

• Golden Orb South weathered basement – 1m @ 37.6/t Au from 41m.

• Golden Orb South weathered basement – 3m @ 18.6g/t Au from 49m including 1m @50.5g/t Au from 49m.

• Fugitive weathered basement – 13m @ 2.68g/t Au from 44m including 1m @ 12.1g/t Au from 49m.

One metre resampling results of the significant (≥1.0g/t Au) composite results from the Air Core drilling completed in March 2014 has returned highly anomalous gold intercepts from Core Farm, Golden Orb South and Fugitive Prospects (Figure 1), at the Company’s wholly owned Spargoville Gold Project in the Eastern Goldfields of Western Australia.

Highly anomalous gold results within Spargoville regional air core drilling (10 June 2014)

The Air Core drilling was completed both to the east and south East of the Golden Orb prospect and comprised 20 holes for 1,213 metres (Figure 2), in order to infill and further evaluate previously identified gold mineralised trends within previous drilling associated with interpreted contacts between felsic intrusives and ultramafic volcanics.

• Drilling to the East of the Golden Orb prospect intersected highly anomalous results including 4m @ 13.2g/t Au from 32m (SPAC0156) and 4m @ 6.21g/t Au from 52m (SPAC0155). To date, anomalous results in drilling along the contact have been identified over a strike length of 300 metres.

• Drilling to the south east of the Golden Orb prospect intersected anomalous (≥1.0g/t gold) results including 8m @ 2.95g/t Au from 44m (SPAC0159) and 4m @ 3.48g/t Au from 48m (SPAC0166). These results are located along strike to the south of recent RC drilling completed to the north at Golden Orb East and Core Farm prospects.

All significant (≥0.5g/t Au) results from the drilling are included in Table 1.

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Figure 2 Spargoville Gold Project, drillhole location plan.

• (*ASX Announcement 2 May 2014)

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Follow up RC drilling is currently being planned in order to test for further high grade at depth and along strike along the mineralised contacts.

Table 1: Significant (≥0.5g/t Au) intercepts – air core drilling May 2014.

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Hole ID From To (m) Length Au Comments
(m) (m) (g/t)
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Hole ID	From (m)	**To (m) **	Length (m)	Au (g/t)	Comments
SPAC0154	12	16	4	0.88
SPAC0155	48	60	12	2.47	EOH
incl	52	56	4	6.21
SPAC0156	32	36	4	13.2
SPAC0159	44	52	8	2.95
and	56	64	8	1.01
SPAC0160	64	67	3	0.1	EOH
SPAC0166	48	52	4	3.48
and	60	64	4	0.54

(*ASX Announcement 10 June 2014)

High grade paleochannel gold intersected in air core drilling (19 June 2014)

• 3m @ 10.7g/t Au from 16m including 1m @ 29.0g/t Au from 16m (SPAC0204)

• 2m @ 22.4g/t Au from 15m including 1m @ 43.5g/t Au from 15m (SPAC0261)

• 1m @ 34.7g/t Au from 13m (SPAC0279)

• 1m @ 14.9g/t Au from 10m (SPAC0286)

High grade gold results from close spaced air core drilling completed at the Core Farm prospect located within the Company’s wholly owned Spargoville Gold Project (Figure 1).

The programme at the Core Farm prospect comprised 165 holes for 3,021 metres (Figure 3, Table 2) of shallow, close spaced air core drilling planned to evaluate the significance and potential extent of interpreted paleochannel mineralisation intersected within previous drilling, including 2m @ 46.7g/t Au from 13m including 1m @ 92.6g/t Au from 14m and 1m @ 51.1g/t Au from 16m.

The results from the air core drilling have highlighted and confirmed significant paleochannel gold intersections over a 450 metre extent, along two separate interpreted paleochannel trends, (Figure 3). Interpretations of all results received from all completed drilling to date along the trends have indicated that either further high grade intersections within infill or extensional drilling would be required in order to see the paleochannel trends as a viable mining prospect.

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Figure 3 Spargoville Gold Project, Core Farm drilling results summary.

Table 2: Significant (≥1.0g/t Au) intercepts – air core drilling May 2014.

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Hole ID From To Length Au
(m) (m) (m) (g/t)
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Hole ID	From (m)	To (m)	Length (m)	Au (g/t)
SPAC0172	17	18	1	10.0
SPAC0173	17	18	1	2.30
SPAC0177	20	21	1	1.57
SPAC0178	17	18	1	2.70
SPAC0193	15	16	1	2.32
SPAC0196	12	13	1	1.99
SPAC0199	16	17	1	9.77
SPAC0200	15	16	1	1.93
SPAC0201	14	16	2	4.51
incl	14	15	1	7.51
SPAC0202	15	17	2	7.20
incl	15	16	1	12.3
SPAC0203	15	18	3	5.90
incl	15	17	2	8.14
SPAC0204	16	19	3	10.7
incl	16	17	1	29.0

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Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2014

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Hole ID From To Length Au
(m) (m) (m) (g/t)
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Hole ID	From (m)	To (m)	Length (m)	Au (g/t)
SPAC0205	16	17	1	1.09
SPAC0207	14	15	1	3.28
SPAC0208	14	16	2	1.78
SPAC0209	18	19	1	6.19
SPAC0210	14	17	3	1.93
SPAC0211	14	15	1	1.23
SPAC0213	12	13	1	2.00
SPAC0214	13	14	1	2.27
SPAC0215	13	15	2	4.18
incl	13	14	1	7.30
SPAC0216	11	12	1	2.32
SPAC0222	11	12	1	1.93
SPAC0250	6	7	1	1.21
SPAC0257	13	14	1	2.73
SPAC0261	15	17	2	22.4
incl	15	16	1	43.5
SPAC0268	12	13	1	1.87
SPAC0273	6	7	1	1.60
SPAC0275	12	15	3	1.80
SPAC0276	15	16	1	1.47
SPAC0277	15	16	1	3.89
SPAC0278	13	15	2	1.67
SPAC0279	13	14	1	34.7
SPAC0286	10	11	1	14.9

(*ASX Announcement 19 June 2014)

Significant composite gold results from RC drilling at Spargoville (WA)

• 5B prospect – 8m @ 6.15g/t Au from 76m including 4m @ 11.0g/t Au from 76m

• Golden Orb South – 20m @ 1.77g/t Au from 84m including 4m @ 4.65g/t Au from 84m

• Hilditch Gold – 4m @ 4.78g/t Au from 140m

The Company received all of the composite sample results from the reverse circulation (RC) drilling (28 holes for 3,380m) completed late in May 2014. The RC drilling was completed over 10 prospects within the Company’s wholly owned Spargoville Gold Project (Figure 1).

Whilst highly anomalous results were received from the initial four metre composite samples from the 5B, Golden Orb South and Hilditch Gold prospects, single metre split samples from the significant zones will now be collected from the relevant drill holes and analysed, in order to gain a better understanding of the distribution and tenor of gold mineralisation.

A brief summary of the highly anomalous results follows:

5B Deposit

The completed drilling was designed to confirm, further define and extend an historic Indicated and Inferred gold resource. A maximum result of 8m @ 6.15g/t Au from 76m including 4m @ 11.0g/t Au from 76m (SPRC004) was returned from drilling completed in the core of the existing gold resource. Other completed holes intersected significant gold results down dip and down plunge of previous high grade intercepts.

Golden Orb South

The completed drilling intersected a maximum anomalous result of 20m @ 1.77g/t Au from 84m including 4m @ 4.65g/t Au from 84m (SPRC011), interpreted to be associated with a mafic volcanic unit trending north south and is in contact to the east and west with felsic intrusives. The significant intercept is located down dip of interpreted supergene mineralisation intersected by previous Tychean air core drilling including 1m @ 37.6g/t Au from 41m and 1m @ 12.1g/t Au from 41m .

Hilditch Gold

The drilling was completed to test for northern and southern plunge extensions to near surface gold mineralisation within previous drilling and historical workings. The prospect is

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Figure 4 Spargoville Gold Project, Golden Orb South drilling results summary.

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Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2014

located 10 kilometres along strike to the north of Wattle Dam. A single anomalous composite result of 4m @ 4.78g/t Au from 140m to end of hole was returned. The anomalous intercept comprises an average of two gold assays of 2.60g/t and 6.96g/t Au. The variability in the results from the sample could be a function of a potential coarse gold component, characteristic of Wattle Dam style mineralisation.

Further RC drilling is envisaged to be planned pending receipt and interpretation of results from the single metre split samples.

All significant (0.5g/t Au) results returned from the drilling are included as Table 3.

Table 3: Significant (≥0.5/t Au) intercepts – composite sampled RC drilling May 2014.

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Hole ID From To Length Au Prospect Comments
(m) (m) (m) (g/t)
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**Hole ID **	From (m)	To (m)	Length (m)	Au (g/t)	**Prospect **	Comments
SPRC001	116	120	4	1.52	5B
SPRC002	88	92	4	0.54	5B
and	96	100	4	1.06	5B
SPRC003	92	96	4	1.35	5B
SPRC004	76	84	8	6.15	5B
including	76	80	4	11.0	5B
SPRC005	92	96	4	0.56	5B
SPRC007	16	24	8	1.18	Core Farm
and	52	56	4	0.59	Core Farm
SPRC010	60	64	4	1.53	Golden Orb South
and	68	72	4	0.79	Golden Orb South
and	76	80	4	0.58	Golden Orb South
SPRC011	84	104	20	1.77	Golden Orb South
including	84	88	4	4.65	Golden Orb South
SPRC012	0	4	4	0.51	Golden Orb South
SPRC013	0	8	8	0.62	Golden Orb South
SPRC014	4	8	4	0.56	Golden Orb South
SPRC015	4	8	4	0.61	Golden Orb South
SPRC016	64	68	4	0.55	Golden Orb East
SPRC024	140	144	4	4.78	Hilditch Gold	End of Hole
SPRC027	96	100	4	0.57	Fugitive
and	108	112	4	0.59	Fugitive
SPRC028	40	44	4	0.72	Fugitive

Northern Territory – Tanami Farm-in and Joint Venture Agreement

Tychean has finalised terms with Ramelius Resources Limited in respect of a Farm-in and Joint Venture Agreement over Tychean’s Tanami Project, a 1,700km[2] prospective land package within the Tanami Complex – Northern Territory.

Ramelius will farm-in on a package of two granted exploration licences (ELs) and six EL applications in the Northern Territory.

The tenement package, located within 100km of Newmont’s 4.5 million plus ounce Callie gold mine within the Northern Territory Tanami Complex (Figure 5) represents a unique opportunity to explore over 1,700km[2] of prospective Paleoproterozoic stratigraphy within a significant yet underexplored gold province.

Farm-in and Joint Venture Agreement Terms

• Ramelius will pay Tychean $50,000 cash upon execution of the agreement to assist Tychean facilitate the grant of the Highland Rocks and Officer Hills South exploration licences within the land package.

• Subject to all necessary statutory and regulatory approvals plus the grant of the two Highland Rocks and Officer Hills South ELs, Ramelius will commit to a minimum exploration expenditure of $100,000 within 2 years.

• Ramelius may earn an 85% interest in the project by exploration expenditure of $500,000 within 3 years.

• Tychean will be free carried until a Decision to Mine at which time it may elect to contribute its interest or convert to a 1.5% NSR Royalty.

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Background:
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Figure 5 Tanami Farm-out project location.

(*ASX Announcement 20 June 2014)

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Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2014

Research by Geoscience Australia* (circa 2006) included the application and interpretation of deep seismic transects throughout the Tanami region in the Northern Territory. The regional seismic transects enabled Geoscience Australia to model the crustal architecture within the province and to interpolate that known lode gold deposits within the Tanami may be associated with major crustal penetrating shear zones and antiformal thrust stacks, nested on deep seated thrusts propagating off the Proterozoic-Archaean basement detachment. Linear magnetic trends, interpreted as thrust faults, extend into the Tychean tenements (Figure 6) and may represent potential conduits for the ingress of gold mineralising fluids.

Tychean’s tenement package was originally applied for in 2010 to 2011. Ramelius will now advance exploration over the tenements within this under-explored and highly prospective gold province.

Over 80 line km of prospective structural trends are believed to exist within the Highland Rocks ELAs alone.

These trends will be the focus of detailed regolith/outcrop mapping plus rock chip sampling along with shallow vacuum and surface soil sampling programmes over the next 12 months.

Results will be reported as they become available.

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For further information please contact:

Mr Joe Houldsworth

Managing Director, Tychean Resources Limited on 0487 924 326 or

Investor relations:

Mr Duncan Gordon,

Executive Director, Adelaide Equity Partners on 0404 006 444

Further information relating to Tychean Resources Ltd and its various exploration projects can be found on its website: www.tycheanresources.com

Competent Persons Statement

The information contained in this release that relates to exploration results, mineralisation and target generation is based on information compiled by Mr Matthew Svensson, who is a Member of the Australasian Institute of Geologists (MAIG) and an employee of the Company. Mr. Svensson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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 Svensson consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.

This release contains previously announced exploration results. The Company is not aware of any new information or data that materially affects the information included in the current market announcement.

Joe Houldsworth

MANAGING DIRECTOR

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Figure 6 Tanami regional gravity image highlighting interpreted seismic sutures (red lines) passing through the Tanami farm-in tenements – image modified after Goleby et al (2007). Gold occurrences are highlighted by yellow dots.

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Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2014

SCHEDULE OF TYCHEAN RESOURCES LTD INTERESTS IN MINING TENEMENTS As at 30 June 2014

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Project Tenement Lease Name State Status % Held by TYK Holders
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Project	Tenement	Lease Name	State	Status	% Held by TYK	Holders
Spargoville	M15/1475	Eagles Nest	WA	Granted	100%	TYCHEAN RESOURCES LTD
Spargoville	E15/967	Kambalda West	WA	Granted	100% - No Nickel Rights	TYCHEAN RESOURCES LTD
Spargoville	E15/968	Kambalda West	WA	Granted	100% - No Nickel Rights	TYCHEAN RESOURCES LTD
Spargoville	L15/128	Kambalda West	WA	Granted	100% - No Nickel Rights	TYCHEAN RESOURCES LTD
Spargoville	L15/255	Kambalda West	WA	Granted	100% - No Nickel Rights	TYCHEAN RESOURCES LTD
Spargoville	M15/395	Kambalda West	WA	Granted	100% - No Nickel Rights	TYCHEAN RESOURCES LTD
Spargoville	M15/703	Kambalda West	WA	Granted	100% - No Nickel Rights	TYCHEAN RESOURCES LTD
Spargoville	P15/5860	Kambalda West	WA	Granted	100% - No Nickel Rights	TYCHEAN RESOURCES LTD
Spargoville	P15/4884	Kambalda West	WA	Granted	100% - No Nickel Rights	TYCHEAN RESOURCES LTD
Spargoville	P15/4885	Kambalda West	WA	Granted	100% - No Nickel Rights	TYCHEAN RESOURCES LTD
Spargoville	P15/4963	Kambalda West	WA	Granted	100% - No Nickel Rights	TYCHEAN RESOURCES LTD
Spargoville	M15/1290	Ground Lark	WA	Granted	100%	TYCHEAN RESOURCES LTD
Spargoville	M15/1448	Hilditch	WA	Granted	90%	BULLABULLING PTY LTD TYCHEAN RESOURCES LTD
Spargoville	M15/1449	Larkinville	WA	Granted	75% 80% Ni Rights	TYCHEAN RESOURCES LTD PIONEER RESOURCES LTD
Spargoville	P15/4765	Villa Deste	WA	Granted	75% 80% Ni Rights	TYCHEAN RESOURCES LTD PIONEER RESOURCES LTD
Spargoville	P15/5912	Villa Deste	WA	Pending	75% 80% Ni Rights	TYCHEAN RESOURCES LTD PIONEER RESOURCES LTD
Spargoville	M15/100	North Widgie	WA	Granted	100% AU rights only	AUSTRALIAN NICKEL MINES PTY LTD
Spargoville	M15/101	North Widgie	WA	Granted	100% AU rights only	AUSTRALIAN NICKEL MINES PTY LTD
Spargoville	M15/102	North Widgie	WA	Granted	100% AU rights only	AUSTRALIAN NICKEL MINES PTY LTD
Spargoville	M15/1271	North Widgie	WA	Granted	100% AU rights only	AUSTRALIAN NICKEL MINES PTY LTD
Spargoville	M15/653	North Widgie	WA	Granted	100% AU rights only	AUSTRALIAN NICKEL MINES PTY LTD
Spargoville-	M15/97	North Widgie	WA	Granted	100% AU rights only	AUSTRALIAN NICKEL MINES PTY LTD
Spargoville	M15/99	North Widgie	WA	Granted	100% AU rights only	AUSTRALIAN NICKEL MINES PTY LTD
Spargoville	M15/1101	Wattle Dam	WA	Granted	100% 80% Ni Rights	TYCHEAN RESOURCES LTD
Spargoville	M15/1263	Wattle Dam	WA	Granted	100% 80% Ni Rights	TYCHEAN RESOURCES LTD
Spargoville	M15/1264	Wattle Dam	WA	Granted	100% 80% Ni Rights	TYCHEAN RESOURCES LTD

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Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2014

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Project Tenement Lease Name State Status % Held by TYK Holders
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Project	Tenement	Lease Name	State	Status	% Held by TYK	Holders
Spargoville	M15/1323	Wattle Dam	WA	Granted	100% 80% Ni Rights	TYCHEAN RESOURCES LTD
Spargoville	M15/1338	Wattle Dam	WA	Granted	100% 80% Ni Rights	TYCHEAN RESOURCES LTD
Spargoville	M15/1474	Wattle Dam	WA	Granted	100%	TYCHEAN RESOURCES LTD
Spargoville	M15/1769	Wattle Dam	WA	Granted	100% 80% Ni Rights	TYCHEAN RESOURCES LTD
Spargoville	M15/1770	Wattle Dam	WA	Granted	100% 80% Ni Rights	TYCHEAN RESOURCES LTD
Spargoville	M15/1771	Wattle Dam	WA	Granted	100% 80% Ni Rights	TYCHEAN RESOURCES LTD
Spargoville	M15/1772	Wattle Dam	WA	Granted	100% 80% Ni Rights	TYCHEAN RESOURCES LTD
Spargoville	M15/1773	Wattle Dam	WA	Granted	100% 80% Ni Rights	TYCHEAN RESOURCES LTD
Spargoville	M15/1774	Wattle Dam	WA	Granted	100%	TYCHEAN RESOURCES LTD
Spargoville	M15/1775	Wattle Dam	WA	Granted	100%	TYCHEAN RESOURCES LTD
Spargoville	M15/1776	Wattle Dam	WA	Granted	100%	TYCHEAN RESOURCES LTD
Valley Floor	E15/1249	Lake Lefroy	WA	Granted	100%	VALLEY FLOOR RESOURCES PTY LTD
Valley Floor	E15/1399	Lefroy South	WA	Granted	100%	VALLEY FLOOR RESOURCES PTY LTD
Valley Floor	E15/1419	Valley Floor Ext	WA	Pending	100%	TYCHEAN RESOURCES LTD
Tanami	EL 26625	Suplejack	NT	Granted	100%	Tychean Resources Limited
Tanami	EL 27511	Highland Rocks	NT	Pending	100%	Tychean Tanami Pty Ltd
Tanami	EL 27806	Talbot North	NT	Granted	100%	Tychean Tanami Pty Ltd
Tanami	EL 27921	Groundrush	NT	Pending	100%	Tychean Resources Limited
Tanami	EL 27995	Officer Hills South	NT	Pending	100%	Tychean Resources Limited
Tanami	EL 27997	Mount Solitaire	NT	Pending	100%	Tychean Resources Limited
Tanami	EL 28493	Groundrush South	NT	Pending	100%	Tychean Resources Limited
Tanami	EL 29829	Highland Rocks 2	NT	Pending	100%	Tychean Tanami Pty Ltd

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Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2014

Appendix 5B Mining exploration entity quarterly report

10531053 Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10

Name of entity

Name of entity
TYCHEAN RESOURCES LTD
ABN 40 119 031 864	Quarter ended (“current quarter”)
40 119 031 864	30 JUNE 2014

Consolidated statement of cash flows

Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Royalties received Net Operating Cash Flows	Current quarter $A’000	Year to date (12 months) $A’000
	0 (446) (152) 7 0	55 (1,252) (793) 33 32
	(591)	(1,925)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other (provide details if material) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	(0)	(2)
	(0)	(2)
	(591)	(1,927)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(591)	(1,927)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Cost of capital Net financing cash flows	1,135 (57)	2,764 (142)
	1,078	2,622
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter	487 612	695 404
	1,099	1,099

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

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Current quarter
$A'000
99
1.23 Aggregate amount of payments to the parties included in item 1.2
1.24 Aggregate amount of loans to the parties included in item 1.10 -
1.25 Explanation necessary for an understanding of the transactions
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Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

Financing facilities available

Add notes as necessary for an understanding of the position.

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

3.1 Loan facilities 3.2 Credit standby arrangements

	Amount available	Amount used
	$A’000	$A’000
	-	-
	-	-

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	538
	-
	-
	219
Total	757

Reconciliation of cash

Total Reconciliation of cash		757
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current quarter $A’000	Previous quarter $A’000
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details)	1,099	612
	-	-
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	1,099	612

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest (note (2))	Interest at beginning ofquarter	Interest at end of quarter
	P15/4299	Holder	100%	0%
	P15/5860 P15/5912 E15/1419	Holder – no Ni rights Holder Holder	0% 0% 0%	100% 75% (80% Ni rights) 100%

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	Total number	Number quoted	Issue price per security (see note3) (cents)	Amount paid up per security (see note3) (cents)
7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs	1,711,006,872	1,711,006,872
	150,668 10,000,000 345,978,760	150,668 10,000,000 345,978,760	$0.006 Nil $0.003	Fully paid Fully paid Fully paid
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	270,093,841 172,989,409	270,093,841 172,989,409	Exercise price $0.006 $0.006	Expiry date 24/09/14 30/06/15
	172,989,409	172,989,409	$0.006	30/06/15
	150,668	150,668	$0.006	24/09/14
7.11 Debentures (totals only)

• See chapter 19 for defined terms.

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7.12 Unsecured notes (totals only)

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).

• 2 This statement does give a true and fair view of the matters disclosed.

30/7/2014 Sign here: ............................................................ Date: ………………........ (Company secretary) Justin Nelson Print name: .........................................................

Notes

• 1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

• 2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .

• 4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

== == == == ==

• See chapter 19 for defined terms.

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