DREADNOUGHT RESOURCES LTD — Interim / Quarterly Report 2015

Jul 14, 2015

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QUARTERLY REPORT

Period ending 30 June 2015

KEY EVENTS

• z Spargoville RC-diamond drill sampling (completed March 2015) confirms and extends highly anomalous gold intercepts at Redback prospect.

• 8m at 9.29g/t Au from 208m incl 2m @ 10.7g/t Au and 2m @ 20.1g/t Au

• 2m at 12.2g/t Au from 177m incl 1m @ 23.1g/t Au

• 3m at 7.8g/t Au from 149m incl 1m @ 17.1g/t Au

• 3m at 7.15g/t Au from 146m incl 1m @ 13.4 g/t Au

• 16m at 3.31g/t Au from 184m incl 3m @ 10.2g/t Au

• 7m at 5.59g/t Au from 204m incl 1m @ 13.9g/t Au

• 9m at 6.66g/t Au from 163m incl 5m @ 10.3g/t Au

• 4m at 6.3g/t Au from 176m incl 2m @ 10.5g/t Au

• z Follow up RC-diamond drilling at Redback Prospect completed for a total of 9 holes for 1,931.80 metres.

• z Visible gold and biotite/chlorite alteration logged within completed diamond tails.

• z Non-Renounceable Entitlement Offer completed raising a total of $311,613.

• z An R & D claim for the sum of $96,540 was received from the Tax Office on 23 April 2015.

REVIEW OF OPERATIONS

CORPORATE ACTIVITIES

On 6 May 2015, Tychean announced an accelerated nonrenounceable entitlement offer to raise up to $450,726. Under the terms of the offer, Tychean offered one new share at a price of $0.002 each, for every ten existing shares held, together with one free option for every new share subscribed for, exercisable at $0.004 on or before 4 June 2016.

The Company will use the funds raised under the entitlement offer to:

• Progress exploration and resource definition at the Company’s Redback Gold Project near Spargoville in WA and

• Provide working capital to the Company.

The entitlement offer comprised two components:

• An institutional entitlement offer which closed on 8 May 2015, where certain institutional investors were invited to apply for their pro rata entitlement, which raised $65,291.

• A retail entitlement offer which closed on 12 June 2015, where other eligible shareholders were invited to apply for their pro rata entitlement, which raised $246,322.

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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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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 2015

The entitlement offer was partially underwritten by the directors of the Company up to a total of 11,983,307 shares. A total of 57,573,692 shortfall shares remain available to be issued.

An R & D Claim for the sum of $96,540 was received from the Tax Office on 23 April 2015.

EXPLORATION ACTIVITIES

Western Australia

Spargoville Gold Project

During the quarter exploration within the Spargoville Project comprised drilling a total of four RC drill holes (SPRC113 –116) and five RC precollars (SPDT015–019) completed for a total of 1,931.80 metres and five NQ2 diamond tails were completed for 480.60 metres (SPDT015–019). All drilling was completed at the Redback Prospect, (Figure 1).

Results were received from RC and diamond drilling completed during March 2015, (16 holes for 3,578.10 metres, SPRC111– 112 and SPDT001–014)

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SPARGOVILLE RC DRILLING RESULTS

High grade results from reverse circulation (RC) and Diamond drilling, completed during March 2015 (16 holes for 3,578.10 metres, SPRC111–112 and SPDT001–014) were received during the period. The drilling was completed at the Redback Prospect, within the Company’s wholly owned Spargoville Gold Project in the Eastern Goldfields of Western Australia, (Figure 1).

High grade mineralisation continues to be intersected within all three mineralised zones at the Redback Prospect. All significant (≥1.0g/t Au and ≥4 gram metre) intervals from the drilling are tabulated below, (Table 1).

Table 1 Significant (≥1.0g/t Au and ≥4 gram metre) Intercepts – March 2014 Drilling

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Hole ID From To Length Au Zone Sample
(m) (m) (m) (ppm) Type
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Hole ID	From (m)	To (m)	Length (m)	Au (ppm)	Zone	Sample Type
SPDT001	149	152	3	7.8	Eastern	Core
including	150	151	1	17.1	Eastern	Core
SPDT002	167	171	4	2.77	Central	Core
	177	179	2	12.2	Eastern	Core
including	177	178	1	23.1	Eastern	Core
SPDT003	139	143	4	5.9	Western	Core
including	140	141	1	9.76	Western	Core
	152	154	2	2.82	Central	Core
SPDT004	208	216	8	9.29	Eastern	Core
including	208	210	2	10.7	Eastern	Core
and	214	216	2	20.1	Eastern	Core
	223	227	4	4.23	Eastern	Core
including	225	226	1	9.05	Eastern	Core
SPDT005	259	265	6	1.95	Eastern	Core
SPDT007	274	292	18	1.68	Eastern	Core
SPDT006	148	152	*4	5.25	Not Defined	RC Chips
SPDT008	128	132	*4	1.4	Not Defined	RC Chips
	160	164	*4	2.05	Not Defined	RC Chips
	214	220	6	2.29	Western	Core
including	218	219	1	5.69	Western	Core
	228	236	8	1.42	Central	Core
	252	259	7	2.1	Eastern	Core
SPDT010	176	178	2	2.1	Eastern	Core
	184	200	16	3.31	Central	Core
including	191	194	3	10.2	Central	Core
	204	211	7	5.59	Western	Core
including	207	208	1	13.9	Western	Core

Figure 1 Spargoville Gold Project prospect location plan.

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Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2015

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Hole ID From To Length Au Zone Sample
(m) (m) (m) (ppm) Type
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Hole ID	From (m)	To (m)	Length (m)	Au (ppm)	Zone	Sample Type
SPDT011	48	52	*4	2.47	Not Defined	RC Chips
	144	146	2	4.34	Eastern	Core
	154	155	1	4.62	Central	Core
	163	172	9	6.66	Western	Core
including	166	171	5	10.3	Western	Core
SPDT012	0	4	*4	1.74	Laterite	RC Chips
	163	168	5	1.36	Central	Core
	176	180	4	6.3	Western	Core
including	177	179	2	10.5	Western	Core
SPDT013	108	112	*4	1.66	Not Defined	RC Chips
	180	188	8	2.71	Western	Core
	224	233	9	2.85	Eastern	Core
including	224	225	1	5.76	Eastern	Core
SPDT014	253	262	9	2.26	Central	Core
including	261	262	1	7.96	Central	Core
SPRC111	123	130	7	1.77	Western	RC Chips
	146	149	3	7.15	Eastern	RC Chips
including	147	148	1	13.4	Eastern	RC Chips

* Composite intervals included in interval calculation

Eastern Zone

High grade, Eastern Zone mineralisation within the completed drilling intersected at the Redback Prospect, includes 8 metres at 9.29g/t Au from 208 metres including 2 metres at 10.7g/t Au from 208 metres and 2 metres at 20.1g/t Au from 214 metres (SPDT004), 2 metres at 12.2g/t Au from 177 metres including 1 metre at 23.1g/t Au from 177 metres (SPDT002), 3 metres at 7.8g/t Au from 149 metres including 1 metre at 17.1g/t Au from 150 metres (SPDT001) and 3 metres at 7.15g/t Au from 146 metres including 1 metre at 13.4g/t from 147 metres (SPRC111) .

The Redback Prospect, Eastern Zone mineralisation in the south (Figure 2), is interpreted to display geological, structural and grade characteristics comparable to that of the high grade Eastern Zone mined at the Wattle Dam Gold Mine , located 700 metres to the northwest, (Figure 1). To date, high grade, Eastern Zone mineralisation in the south, has been defined over a strike length of 60 metres and maximum dip extent of 60 metres within the Eastern Zone and remains open at depth and along an interpreted northerly plunge.

The current drill spacing testing the Eastern zone in the south has been completed to a 10m x 20m drill spacing (~20m x 20m intersection separation) and the extensional drilling at 20m x

20m (~40m x 20m intersection separation). In comparison a drill spacing of 10m x 10m was required in order to intersect the outstanding intersections from exploration drilling within the Wattle Dam Eastern Zone mineralisation including (but not limited to) 16 metres at 482g/t Au from 123 metres including 1 metre at 6,770g/t Au from 129 metres. The drill spacing at Wattle Dam was required due to the high grade mineralisation’s limited strike length (minimum 40 metres) and nuggetty and variable nature, as identified at the Redback Prospect.

A long section of the Wattle Dam Gold Mine Eastern Zone mineralisation (Figure 2) highlights the restricted and high grade nature of the deposit. Wattle Dam surface exploration drilling only has been used to generate the long section, so that comparisons can be made with the mineralised zones at the Redback Prospect currently defined by exploration drilling.

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Figure 2 Redback Prospect and Wattle Dam Gold Mine Eastern Zones comparison, April 2015.

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Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2015

Central and Western Zones

Results from the completed drilling, further defined the Western and Central zones of mineralisation at the Redback Prospect. Significant intersections returned from the zones include maximum results of 9 metres at 6.66g/t Au from 163 metres including 5 metres at 10.3g/t Au from 166 metres (SPDT011 – Western Zone) and 16 metres at 3.31g/t Au from 184 metres including 3 metres at 10.2g/t Au from 191 metres, (SPDT010 – Central Zone). It is interpreted that the completed drilling to date of the Western and Central zones, has defined the extent of previously intersected high grade mineralisation.

Table 2 Drill hole collar details – Redback RC drilling, March 2015.

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Hole Number Easting Northing RL Azimuth Dip RC Diamond Total Depth
(GDA Zone 51) (GDA Zone 51) (m) (m) (m) (m)
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Hole Number	Easting (GDA Zone 51)	Northing (GDA Zone 51)	RL (m)	Azimuth	Dip	RC (m)	Diamond (m)	Total Depth (m)
SPDT001	6527198.38	356540.49	336.60	90	-60	90	72.8	162.8
SPDT002	6527200.03	356510.52	336.90	90	-60	150	48.7	198.7
SPDT003	6527216.25	356513.30	336.73	90	-60	132	51.8	183.8
SPDT004	6527227.01	356490.55	337.14	90	-60	150	84.8	234.8
SPDT005	6527287.39	356446.84	336.72	90	-60	198	75.8	273.8
SPDT006	6527310.33	356429.47	336.56	90	-60	228		228
SPDT007	6527331.01	356427.19	336.41	90	-60	228	67.3	295.3
SPDT008	6527348.14	356448.95	336.16	90	-60	180	84.6	264.6
SPDT009	6527350.74	356429.08	336.27	90	-61	228	72.8	300.8
SPDT010	6527319.27	356642.92	334.57	270	-60	162	60.3	222.3
SPDT011	6527289.22	356647.02	332.87	270	-57	138	54.7	192.7
SPDT012	6527318.78	356641.92	334.54	270	-57	156	38.7	194.7
SPDT013	6527346.43	356464.50	336.21	90	-60	162	74.9	236.9
SPDT014	6527370.17	356398.76	336.44	90	-55	240	48.9	288.9
SPRC111	6527166.14	356552.68	336.79	90	-60	168		168
SPRC112	6527197.95	356559.23	336.45	90	-60	132		132

SPARGOVILLE COMPLETED RC/DIAMOND DRILLING

During the period a programme of RC and diamond drilling was completed at the Redback Prospect within the Company’s wholly owned Spargoville Gold Project in the Eastern Goldfields of Western Australia.

The drill program comprised 9 holes of 1,451 metres of RC drilling and 480.8 metres of NQ2 diamond drilling and was designed primarily to further evaluate the high grade Eastern Zone with infill and extensional drilling. All collar locations (Table 3) and drill intersection points of the completed drilling are depicted on the attached plans and long sections, (Figures 3–4).

Several biotite and chlorite altered zones were intersected within the drilling interpreted to be associated with projections of the Western, Central and Eastern Zone mineralisation. Visible gold was logged within the diamond drilling interpreted to be associated with Western, Central and Eastern Zone mineralisation, (Table 4).

A new mineralised zone, highlighted by strong biotite/chlorite alteration and visible gold intersected with SPDT015, has been identified further to the west of the mineralised zones identified at Redback to date. The new mineralised zone is hosted in ultramafic lithologies adjacent to the western contact of the western felsic intrusive. The alteration and visible gold intercept remains open along strike and at depth.

Results from the drilling are expected to be received and available for reporting by the end of July 2015.

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Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2015

Table 3 Drill hole collar details – Redback RC/diamond drilling June 2015.

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Hole Number Easting Northing RL Azimuth Dip RC Drilling Diamond Total Depth
(GDA94) (GDA94) (m) (m) Drilling (m) (m)
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Hole Number	Easting (GDA94)	Northing (GDA94)	RL (m)	Azimuth	Dip	RC Drilling (m)	Diamond Drilling (m)	Total Depth (m)
SPDT015	356505	6527200	336	90	-60	161.5	88.2	249.7
SPDT016	356500	6527230	336	90	-60	131.5	79.2	210.7
SPDT017	356480	6527230	336	90	-60	198	66.7	264.7
SPDT018	356460	6527230	336	90	-57	198	126.3	324.3
SPDT019	356455	6527270	336	90	-57	180	120.4	300.4
SPRC113	356570	6527150	336	90	-60	144		144
SPRC114	356560	6527166	336	90	-60	154		154
SPRC115	356555	6527185	336	90	-60	152		152
SPRC116	356545	6527215	336	90	-60	132		132

Table 4 Visible gold logging details.

Hole Number	Depth (m)	Host Geology	Size (mm)	Interpreted Zone
SPDT015	225.05	Quartz vein	0.1	Central
	227.07	Weakly biotite altered actinolite - chlorite ultramafic	0.1	Central
	228.81	Weakly biotite altered actinolite - chlorite ultramafic	0.1	Central
	245.16	Weakly biotite altered actinolite - chlorite ultramafic	0.1	Central
	245.20	Actinolite - chlorite ultramafic	0.1	Eastern
	245.21	Actinolite - chlorite ultramafic	1.0	Eastern
SPDT016	136.88	Actinolite - chlorite ultramafic	1.0	New Zone
	182.39	Strongly chlorite altered actinolite - chlorite ultramafic	1.0	Central
	182.40	Strongly chlorite altered actinolite - chlorite ultramafic	1.0	Central
	182.41	Strongly chlorite altered actinolite - chlorite ultramafic	1.0	Central
	182.49	Strongly chlorite altered actinolite - chlorite ultramafic	1.0	Central
	183.38	Moderately chlorite altered actinolite - chlorite ultramafic	0.1	Central
	183.91	Moderately chlorite altered actinolite - chlorite ultramafic	0.1	Central
	184.04	Moderately chlorite altered actinolite - chlorite ultramafic	0.1	Central
	184.05	Moderately chlorite altered actinolite - chlorite ultramafic	0.1	Central
	184.09	Moderately chlorite altered actinolite - chlorite ultramafic	0.1	Central
	184.11	Moderately chlorite altered actinolite - chlorite ultramafic	0.1	Central
SPDT018	198.14	Strongly chlorite altered actinolite - chlorite ultramafic	1.0	New Zone
	199.10	Strongly altered biotite altered ultramafic	0.1	New Zone
	251.51	Moderately chlorite altered actinolite - chlorite ultramafic	0.5	Western
	251.52	Moderately chlorite altered actinolite - chlorite ultramafic	1.0	Western
SPDT019	293.09	Tremolite rich vein	1.0	Eastern
	293.11	Tremolite rich vein	0.5	Eastern

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Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2015

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Figure 3 Spargoville Gold Project, Redback drilling summary plan, July 2015.

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Figure 4 Spargoville Gold Project – Redback Prospect Eastern Zone longitudinal projection, July 2015.

Northern Territory

TANAMI FARM-IN AND JOINT VENTURE AGREEMENT

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 1,700km² of prospective Paleoproterozoic stratigraphy within a significant yet underexplored gold province.

Tanami joint venture partner, Ramelius Resources Limited (ASX:RMS), advised that final results from RC Drilling completed at the Suplejack Project during March 2015, (comprising 15 holes for a total of 1206m), were received during the June quarter. The objective of the maiden drill program was to test for geochemical anomalism along the basement/cover interface, from a broadly spaced drill pattern over selected parts of the Suplejack structure.

Results have defined three interface anomalies over the Suplejack structure, (Figure 6). The anomalies occur at the interface between Cambrian basalt cover and Proterozoic Tanami Group basement, or within Proterozoic Gardiner Sandstone (where present) which directly overlies Tanami Group basement.

Anomaly 1: +30ppb Au anomaly (up to 54ppb), extending over 1km strike along the main fold axis of the Suplejack structure, overlying both metabasalt and siltstone lithologies, and defined by drill holes SJRC0003 and SJRC0004. The anomaly is typically gold-only, although weakly anomalous Ag and Pb may also occur adjacent to the interface. The broader extent of the Au-anomalous zone is interpreted to extend a further 500m to the SE to drill-hole SJRC0008, where up to 31ppb Au was returned from weakly weathered basement, some 6m below the unconformity.

Anomaly 2: +20ppb Au anomaly from Gardiner Sandstone adjacent to the basement unconformity in drill-hole SJRC0014. The anomaly overlies weathered phyllitic siltstones on the NE limb of the Suplejack structure. Significantly, the Au-anomalous zone in this area is coincident with elevated Ag (0.7ppm), As (119ppm), Bi (31ppm), Cu (935ppm), Mo (6.8ppm), Pb (28ppm), Sb (3.6ppm) and Te (1ppm), which represents the main pathfinder suite for gold deposits within the Tanami region.

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Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2015

Anomaly 3: 24ppb Au anomaly in thin Gardiner Sandstone adjacent to cover/basement interface overlying weathered phyllitic siltstones in SE part of Suplejack structure (drill hole SJRC0001). Coincident with elevated Ag (0.5ppm), Cu (570ppm) and Pb (30ppm) with anomalous As in weathered phyllite below the unconformity.

Based on the results from the March quarter RC drilling, Ramelius Resources Limited (ASX:RMS) completed a round of infill RC drilling over the Suplejack tenement (EL26625), within the Tanami Project JV during the June quarter. An aggregate 2,532m of shallow vertical infill drill holes (250m spaced) were completed from ~32 holes. The drilling was designed to map the extent of the plus 10ppb interface gold anomaly (Figure 5). Assay results are awaited.

By early June, 2015, the Central Land Council had consented to the grant of three Exploration Licences Applications (ELA) 27511, 27995 and 29829 within the Tanami JV. The Tanami Project JV partners now await a response from the Commonwealth Minister of Indigenous Affairs seeking his consent to allow the Northern Territory Mining Minister to proceed with the grant of the Exploration Licences.

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Figure 6 Suplejack drill hole locations showing depth to basement contours and >10ppb gold in drilling contour.

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129° 130° 131°
TANAMI
Northern Territory
� Soldier
� Bluebush Bore
SUPLEJACKSUPLEJACKSUPLEJACKSUPLEJACK � Tregony
EL27806
Talbot North
� Bald Hill � � ��� The Grange & BrokenwoodStoney Ridge, Jasper Hill, Hyperion & Hyperion Sth
ELA28493� � � Groundrush Mine ELA27921
Groundrush Sth Groundrush
� EL26625
Coyote Pendragon � � Tanami Mine Suplejack
Old Pirate � Twin Bonanza �� Challenger 2&3
Jims Find � Rabbit Flat Roadhouse ELA27997
Mount Solitaire
Titania �
� Windy Hill
The Granites
Callie Gold Mine � � ��� Anomaly 2 � � � �� Gold MineHordern HillsBunkers Hill � Cashel
� Officer Hill
ELA27995
Officer Hills South
ELA27511
Highland Rocks
ELA29829
Highland Rocks 2
Tanami Au Resources (ozs) Exploration Licence
Exploration Licence - Application
� [> 2,000,000] (1) Pastoral Lease
0 20 km � 500,000 to 2,000,000 (5) � Operating Mine
1:1,500,000 � 50,000 to 500,000 (11) � Historic Mine
� < 50,000 (3) � Prospect
TANAMI.WOR
129° 130° 131°
100km radius from processing plant
Lajamanu
Road
Tanami
100km radius from processing plant
Road
-19° -19°
-20° -20°
-21° -21°
A U S T R A L I A T E R R I T O R Y
W E S T E R N N O R T H E R N
-22° -22°
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Figure 5 Tanami project location.

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Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2015

Competent Persons Statement

The information contained in this release that relates to exploration results, mineralisation and target generation within the Spargoville Project is based on information compiled by Mr Matthew Svensson, who is a Member of the Australasian Institute of Geologists (MAIG) and a full time 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 announcement contains previously announced TYK exploration results.

28/03/2014	High grade gold in new results from Spargoville in WA
02/05/2014	Spargoville (WA) – Aircore Gold Resample Results
22/09/2014	High Grade Single Metre Gold Results from Spargoville WA
05/12/2014	Redback Prospect High Grade Gold Results
20/01/2015	More Redback Prospect High Grade Gold Results
05/03/2015	Visible Gold in First Diamond Drilling at Redback Prospect
23/03/2015	Further Visible Gold at Redback Prospect
22/04/2015	Redback Prospect High Grade Gold Drill Results
03/07/2015	Redback RC-diamond Drilling Programme Completed

The Company is not aware of any new information or data, which hasn’t been previously reported, that materially affects the information included in the current market announcement.

This announcement contains RMS exploration results, details of which are addressed in JORC Tables included in the following RMS ASX announcement.

29/04/2015 March 2015 Quarterly Activities Report

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Joe Houldsworth MANAGING DIRECTOR

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

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Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2015

SCHEDULE OF INTERESTS IN MINING TENEMENTS

As at 30 June 2015

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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	M15/1448	Hilditch	WA	Granted	10% 90%	Bullabulling Pty Ltd Tychean Resources Ltd
Spargoville	M15/1449	Larkinville	WA	Granted	75% 80% Ni Rights	Tychean Resources Ltd Pioneer Resources Ltd
Spargoville	P15/5912	Villa Deste	WA	Granted	75% 80% Ni Rights	Tychean Resources Ltd Pioneer Resources 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	M15/100	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	M15/653	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	M15/1101	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
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

~~9~~

Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2015

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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	M15/1770	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
Spargoville	P15/5953	Logan 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	E15/1434	Valley Floor Ext	WA	Granted	100%	Tychean Resources Ltd
Valley Floor	E15/1438	Valley Floor Ext	WA	Granted	100%	Tychean Resources Ltd
Tanami	EL 26625	Suplejack	NT	Granted	100%	Tychean Tanami Pty Ltd
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 Tanami Pty Ltd
Tanami	EL 27997	Mount Solitaire	NT	Pending	100%	Tychean Tanami Pty Ltd
Tanami	EL 28493	Groundrush South	NT	Pending	100%	Tychean Tanami Pty Ltd
Tanami	EL 29829	Highland Rocks 2	NT	Pending	100%	Tychean Tanami Pty Ltd

~~10~~

Tychean Resources Ltd • Quarterly Report for the period ending 30 June 2015

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas 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, 01/05/2013

Name of entity

TYCHEAN RESOURCES LTD

ABN 40 119 031 864

Quarter ended (“current quarter”) 30 JUNE 2015

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 Other (provide details if material) Net Operating Cash Flows	Current quarter $A’000	Year to date (12 months) $A’000
	(350) (119)	(1,832) (678) 14
	(469)	(2,496)
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)
	-	-
	(469)	(2,496)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(469)	(2,496)
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 Other (provide details if material) Net financing cash flows	336 (28)	1,648 (149)
	308	1,499
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	(161) 263	(997) 1,099
	102	102

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

1.23 1.24	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
		(80)
		-
1.25	Explanation necessaryfor an understandingof the transactions

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

• See chapter 19 for defined terms.

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Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

• 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.

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

• 3.1 Loan facilities 3.2 Credit standby arrangements

Estimated cash outflows for next quarter

• $A’000

• 4.1 Exploration and evaluation 117,000

• 4.2 Development 4.3 Production 4.4 Administration 23,000

• 140,000

• Total

Reconciliation of cash

Reconciliation of cash
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)	102	263
Total: cash at end of quarter(item 1.22)	102	263

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Changes in interests in mining tenements and petroleum tenements

Changes in interests in mining tenements and petroleum tenements	Changes in interests in mining tenements and petroleum tenements	Changes in interests in mining tenements and petroleum tenements	Changes in interests in mining tenements and petroleum tenements	Changes in interests in mining tenements and petroleum tenements
Tenement reference and location Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements and petroleum tenements acquired or increased 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	2,431,492,488	2,431,492,488
	167,789,756 10,000,000 71,557	167,789,756 10,000,000 71,557	$0.002 Nil $0.006	Fully paid Fully paid Fully paid
7.5 +Convertible debt securities (description)

• See chapter 19 for defined terms.

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Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

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	167,789,756	167,789,756	Exercise price $0.004	Expiry date 4 June 2016
	167,789,756	167,789,756	$0.004	4 June 2016
	71,557	71,557	$0.006	30 June 2015
	318,305,638	318,305,638	$0.006	30 June 2015
7.11 Debentures (totals only)
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.

15 July 2015 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.

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

• 2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements and petroleum 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 or petroleum 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.

Appendix 5B Page 6

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