DREADNOUGHT RESOURCES LTD — Interim / Quarterly Report 2025

Oct 29, 2024

+61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017

ASX ANNOUNCEMENT 30 October 2024

30 September 2024 Quarterly Activities Report

The Board of Dreadnought Resources Ltd (ASX:DRE) (“Dreadnought” or “the Company”) is pleased to provide a summary of activities for the quarter ended 30 September 2024.

OVERVIEW OF ACTIVITIES

During the quarter , the Company has:

• Developed a commercialisation strategy for gold which included a strategic acquisition of ~300km[2] of highly prospective ground along the Mangaroon Shear Zone at Mangaroon Au (ASX: 26 July 2024).

• Identified four strong off-hole conductors at Tarraji Yampi . (ASX: 4 July 2024).

• Intercepted thick high-grade niobium in Gifford Creek Carbonatite at Mangaroon Nb-REE . (ASX: 19 August 2024 and 20 September 2024).

• Identified visual sulphides at the Tiger Ci-Ai-Zn-Ag prospect - Mangaroon Gold . (ASX: 15 August 2024).

Subsequent to the quarter end , the Company has

• Released high grade gold intercepts from the Star of Mangaroon and significant results from Popeye, as well as visible gold logged in three diamond holes drilled as part of a Resource drilling program. (ASX: 1 October 2024).

• Released significant results from Tarraji-Yampi with six new zones of mineralisation and four off-hole

• conductors. (ASX: 7 October 2024).

• Released high grade niobium results from Mangaroon confirming fresh mineralisation over ~1.2km of strike. (ASX: 9 October 2024).

• Released exceptional gold recoveries from Star of Mangaroon with metallurgical results highlighting the quality of the mineralisation, supporting the gold commercialisation strategy. (ASX: 14 October 2024).

• Announced the award of a further co-funded grant under the Exploration Incentive Scheme (“EIS”) for diamond drilling which will provide critical information for the ongoing assessment of the Gifford Creek Carbonatite. (ASX: 25 October 2024).

• Released further results from the Tiger VMS prospect at Mangaroon with significant base metal intercepts. (ASX: 29 October 2024).

Junior Mineral Exploration Incentive (“JMEI”):

The Company allocated JMEI credits in respect of 2023/24 financial year of $1,357,500 on 10 October 2024.

Strategy

The Company is actively:

• Transforming into a self-funded explorer.

• Progressing core projects.

• Making additional discoveries.

• Commercialising non-core assets.

You can stay up to date with Company activities by signing up at our InvestorHub.

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CORPORATE

Corporate activities for the quarter include:

Issue of shares:

The Company completed a $3.7M placement to advance niobium and gold exploration. Issuing 194,444,445 shares on 9 August 2024 at $0.018 per share and is seeking approval at the AGM for a further 11,666,667 shares subscribed for by the directors which would take their total cash investment in Dreadnought to $6.8M.

The Company issued 16,000,000 shares on 26 July 2024 in respect of tenement acquisitions at $0.025 per share to an unrelated party.

The Company issued 2,000,000 shares on 23 September 2024 in respect of services at $0.018 per share to an unrelated party.

The Company issued 512,500 ordinary shares on 19 September 2024 in respect of the exercise of Employee Performance Rights.

Ordinary shares issued by the Company in respect of a drill for equity arrangement with Topdrill Pty Ltd:

• 6,927,040 shares issued on 24 July 2024 at $0.022 per share;

• 2,555,555 shares issued on 12 August 2024 at $0.022 per share;

• 5,000,000 shares issued on 5 September 2024 at $0.016 per share;

• 6,000,000 shares issued on 23 September 2024 at $0.018 per share; and

• 5,987,500 shares issued on 25 September 2024 at $0.016 per share.

Cash & R&D Tax Receivable:

The Company finalised metallurgical research and development studies to optimise on concentrates from Yin and the Gifford Creek Carbonatites. Work was also undertaken in respect of the development of a new processing methodology to produce Cu-Au concentrate and critical mineral by-products from polymetallic bearing sulphides in the West Kimberley region of WA.

An associated R&D tax incentive of ~$1.0M is expected to be received in November 2024. At the 30 September 2024, the Company had $2.1M in cash and receivables.

Exploration Incentive Scheme (“EIS”):

The following co-funded grants were awarded under the Geological Survey of Western Australia’s merit-based EIS. All on ground activities are now complete and ~$0.5M in grants are expected in the December 2024 quarter:

• Up to $180,000 for drilling at Gifford Creek Carbonatite Mangaroon (100%).

• Up to $150,000 for drilling at Tiger – Mangaroon Gold (100%)

• Up to $150,000 for an IP survey at Tarraji Yampi (80%, 100%).

Director Fees:

The fees for non-executive directors have been reduced by up to 20% with effect from 1 September 2024. Subject to shareholder approval, directors have also elected to receive options in lieu of fees for the 15-month period from 1 September 2024 to 30 November 2025. Approval will be sought at the upcoming Annual General Meeting. There has further been a reduction in the number of non-executive directors, with the resignation of Rob Gee.

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EXPLORATION

Exploration activities for the quarter include:

MANGAROON (100%)

This project covers over 5,300kms[2] of the Mangaroon Zone in the Gascoyne Region of Western Australia. The two focus areas are currently:

• Mangaroon Au

• Mangaroon Nb-REE

MANGAROON AU

Mangaroon hosts many historical alluvial and shallow hard rock mines, five of which are located on granted Mining Leases with minimal barriers to production. Advanced prospects include the Star of Mangaroon which was the largest regional producer and is high-grade and Popeye, with a shaft originally intended as a water supply going straight down a mineralized vein.

==> picture [329 x 383] intentionally omitted <==

Figure 1: Plan view map of the Star of Mangaroon Gold Operations.

As announced on 26 July 2024, the Company has developed a commercialisation strategy for gold which included a strategic acquisition of ~300km[2] of highly prospective ground along the Mangaroon Shear Zone.

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Strategic Opportunity (Au)

Significant points include:

• Star of Mangaroon is a high grade, at surface, opportunity.

• The Paulsens Gold Operation anticipates spare mill capacity within viable trucking distances.

• Mining tenements are already granted, heritage agreements are in place and there is a short approval timeframe.

• Funding, development, haulage and processing can be outsourced to third parties.

• There are numerous other projects in the area.

Current activities

Drilling was completed at Two Peaks, Diamonds and Popeye with further work being planned for Pritchard Well, Hudson and Bordah.

==> picture [476 x 463] intentionally omitted <==

Figure 2: Plan view map of the Mangaroon Gold prospects

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MANGAROON Nb-REE

Mangaroon REE is a globally significant critical minerals complex with a combined Resource at Yin and the Gifford Creek Carbonatite of 40.82Mt @ 1.03% TREO. The Yin Resource of 29.98Mt @ 1.04% TREO (ASX 30 Nov 2023) is 87% Measured and Indicated.

Mangaroon (Figure 3) covers >5,300kms[2] of the Mangaroon Zone in the Gascoyne Region of Western Australia and is comprised of:

• 45km long Money Intrusion (Ni-Cu-Co-PGE): containing high tenor magmatic Ni-Cu-Co-PGE.

• ~10km x 15km Mangaroon Gold Camp (Au, Cu-Au-Zn-Ag): where fractured, small-scale ownership has limited previous gold exploration with only ~200m of the >12km long Mangaroon Shear Zone having been drilled.

• ~43km long Yin Ironstone (REE): which already contains: an independent Resource of 20.06Mt @ 1.03% TREO (ASX 5 Jul 2023) over only ~4km of the ~43km of ironstones including an initial Indicated Resource of 5.52Mt @ 1.23% TREO over only ~250m of strike (ASX 5 Jul 2023).

• ~17km long Gifford Creek Carbonatites (Nb-REE-Ti-P-Sc): which contains a suite of critical minerals and an initial independent Inferred Resource of 10.84Mt @ 1.00% TREO at C3 (ASX 28 Aug 2023).

• ~1.2km fresh niobium mineralisation at the Stinger Zone of the Gifford Creek Carbonatite which remains open in all directions.

==> picture [288 x 386] intentionally omitted <==

Figure 3: Location map of Dreadnought’s 100% owned Mangaroon Projects in relation to other Nb-REE projects within Western Australia and major infrastructure.

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Gifford Creek Carbonatite (Nb)

• As announced on 22 July 2024, the Gifford Creek Carbonatite has produced some of WA’s best niobium intercepts outside the Arunta Province.

• As announced on 12 August 2024, the Company completed a 19-hole RC drilling program over the Gifford Creek Carbonatite, identifying strong niobium across multiple zones.

• As announced on 19 August 2024, thick high-grade niobium intercepts were confirmed across three holes at the Stinger niobium prospect.

• As announced on 20 September 2024, thick high-grade niobium intercepts were confirmed across a further two holes in the Stinger zone and a further 9 RC holes were drilled with assay results reported on 9 October 2024.

==> picture [499 x 386] intentionally omitted <==

Figure 4: Location of significant niobium mineralisation within the limited extent of drilling at the Gifford Creek Carbonatite.

With strong niobium identified across multiple zones, the Company sees the potential for Mangaroon to evolve as a multi-commodity critical metals hub with proximity to existing infrastructure.

Next steps at Stinger include assessment of oxide mineralisation and identifying the fresh rock source of the niobium.

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OTHER PROJECTS

The status of other projects is outlined below:

MANGAROON REEs (100%)

• Resource of 29.98Mt @ 1.04%TREO which covers ~10% of ironstones.

• Higher NdPr to total rare earth oxides ratio than most REE deposits and >50% higher than the global average.

• • Aim is to minimise costs and maximise readiness for a turnaraound in REE market sentiments.

MANGAROON Ni-Cu-Co-PGE (100%)

• Mangaroon hosts the fertile Ni-Cu-Co-PGE along the >45km long Money Intrusion.

• An IP survey has confirmed the geophysical signatures of a significant new mineralised system.

• Aim is to continue partnership discussions whilst undertaking a project review to highlight the highest priority work programs.

TARRAJI-YAMPI (80%/100%)

• Orion Cu-Au Massive Sulphide discovery in 2021.

• Outcropping Cu-Au mineralisation.

• Four strong off-hole conductors were identifed in the quarter. (ASX: 18 July 2024)

• • Strategic review underway.

CENTRAL YILGARN (100%)

• Multiple confirmations of high-grade gold, iron ore and base metal targets.

• Aim is to explore partnership or divestment opportunities to unlock potential.

BRESNAHAN (100%)

• Outcropping unconformity HREE, and Au-Sb-Ag mineralisation.

• Uranium targets identified by global uranium companies.

• Aim is to explore partnership or divestment opportunities to unlock potential.

ACKNOWLEDGEMENTS

Dreadnought would like to acknowledge the continued support of the Dambimangari, Thiin Mah, Budina and Thudgari People, Department of Defence, Lyndon, Maroonah, Gifford Creek, Turee Creek and Mount Vernon Stations, our Joint Venture Partner Whitewater Resources Pty Ltd, Terra Resources, JMB Diverse Contracting, Topdrill, Northfields, Gap Geophysics, Strategic Metallurgy, Orelogy, PayneGeo, O’Brian Geotech, Pennington Scott, Onshore Environmental, Quick Camps, Jarrahbar Contracting, Gascoyne Haulage and Derby Stock Supplies.

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OTHER DISCOSURES

ASX ANNOUNCEMENTS

During the quarter, the Company made 42 ASX announcements, 15 of which were market sensitive (>1 market sensitive announcement per week).

These announcements are tabled below:

September 2024 25/09/2024 Application for quotation of securities– DRE and Cleansing Notice 23/09/2024 Application for quotation of securities x 3 – DRE and Cleansing Notice 20/09/2024 Proposed issue of securities – DRE 20/09/2024 Notification of cessation of securities – DRE 20/09/2024 More Thick Niobium Intercepts from Gifford Creek Carbonatite 06/09/2024 Application for quotation of securities – DRE and Cleansing Notice 03/09/2024 Appendix 4 G and 2024 Corporate Governance Statement 03/09/2024 Annual report to Shareholders – 30 June 2024 02/09/2024 Drill Results & 5 Off-Hole Conductors at Tiger August 2024 28/08/2024 Australian Gold Conference Presentation 19/08/2024 Thick High-Grade Niobium Intercepts 15/08/2024 Visual Sulphides in Tiger Ci-Au-Zn-Ag Drilling – Mangaroon Gold 13/08/2024 Gifford Creek Niobium Drilling Update - Amendment 12/08/2024 Gifford Creek Niobium Drilling Update 12/08/2024 Application for quotation of securities – DRE and Cleansing Notice 12/08/2024 Notification of cessation of securities – DRE 09/08/2024 Application for quotation of securities – DRE and Cleansing Notice 05/08/2024 Proposed issue of securities – DRE (x 2) 05/08/2024 $3.71m Placement to Advance Niobium and Gold Exploration 01/08/2024 Trading Halt July 2024 31/07/2024 Quarterly Cashflow Report and Quarterly activities Report – June 2024 26/07/2024 Application for quotation of securities – DRE and Cleansing Notice 26/07/2024 Proposed issue of securities – DRE 26/07/2024 Consolidation, Growth & Commercialisation – Mangaroon Gold 26/07/2024 Strategic & Prospective Consolidation – Mangaroon AU 25/07/2024 Application for quotation of securities – DRE 22/07/2024 Drilling Commenced – Gifford Creek Nb-REE Carbonatite 18/07/2024 Four Strong Off-Hole Conductors identified – Tarraji-Yampi 16/07/2024 Junior Minerals Exploration Incentive 03/07/2024 Change of Director’s Interest Notice – Dean Tuck 03/07/2024 Notification of cessation of securities – DRE

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APPENDIX 5B DISCLOSURES

The accompanying Appendix 5B (Quarterly Cashflow Report) shows Directors’ remuneration (including superannuation) of $113k (Item 6.1) and $64k (Item 6.2), the amounts apportioned between corporate and exploration. During the period, the Company spent $3m on exploration and study activities.

The expenditure represents direct costs associated with the various studies, surveys, drilling programs and associated assays outlined in this report.

CAPITAL STRUCTURE

Quoted Securities	Quoted Securities
FullyPaid OrdinaryShares	3,752,750,000
Unquoted Securities
Options @ $0.06 expiring26/11/2024	2,000,000
Options@ $0.065 expiring14/07/2025	6,500,000
Options@ $0.094 expiring9/10/2025	6,000,000
Options@ $0.1575 expiring16/12/2025	853,098
Options@ $0.12 expiring02/03/2026	1,223,151
Options@ $0.075 expiring14/06/2026	2,000,000
Performance Rights expiring31/12/2025	13,450,000

UPCOMING NEWSFLOW

November: Results from diamond drilling at the Star of Mangaroon (100%)

November: Results from airborne geophysical surveys at Mangaroon (100%)

November: Results of further target generation and definition work at Mangaroon Au (100%)

November: Results from EIS co-funded IP surveys at Tarraji-Yampi (80%/100%)

November: Results from Au drilling at Mangaroon (100%)

November: Initial Mineral Resource for Star of Mangaroon (100%)

28 November: Annual General Meeting

December: Results of further target generation and definition work at Mangaroon Au (100%)

~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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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 – 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 new information or data that materially affects the information in the original reports, and that the forma and context in which the Competent Person’s findings are presented have not been materially modified from the original reports.

Competent Person’s Statement – Mineral Resources

The information in this announcement that relates to Mineral Resources is based on information compiled by Mr. Lynn Widenbar, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy. Mr. Widenbar is a full-time employee of Widenbar and Associates Pty Ltd. Mr. Widenbar 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. Widenbar consents to the inclusion in the announcement of the matters based on his information in the form and context that the information appears.

Disclaimer

References in this announcement may have been made to certain previous ASX announcements, which in turn may have included Exploration Results, Exploration Targets, Mineral Resources, Ore Reserves and the results of Pre-Feasibility Studies. For full details, please refer to the said announcement on the said date. The Company is not aware of any new information or data that materially affects this information. Other than as specified in this announcement and mentioned announcements, the Company confirms it is not aware of any new information or data that materially affects the information included in the original market announcement(s), and in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changed. 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 announcement.

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RESOURCES SUMMARY

Yin Ironstone Complex – Yin, Yin South, Y2, Sabre Measured, Indicated and Inferred Resources

Table 1: Summary of Yin Resources at 0.20% TREO Cut-off.

Resource Classification	Geology	Resourc e (Mt)	TRE O (%)	Nd2O3+Pr6O1 1 (kg/t)	NdPr:TRE O Ratio (%)	Containe d TREO (t)	Contained Nd2O3+Pr6O1 1(t)
Measured	Oxide	2.47	1.61	4.6	29	39,700	11,400
Measured	Fresh	2.70	1.09	3.0	27	29,500	8,100
Measured	Subtotal	5.17	1.34	3.8	28	69,300	19,500
Indicated	Oxide	13.46	1.06	3.1	29	142,600	41,000
Indicated	Fresh	7.67	0.95	2.8	29	72,800	21,300
Indicated	Subtotal	21.13	**1.02 **	3.0	29	215,400	62,300
Inferred	Oxide	1.51	0.75	1.9	25	11,200	2,800
Inferred	Fresh	2.17	0.75	2.1	28	16,300	4,500
Inferred	Subtotal	3.68	0.75	2.0	27	27,600	7,300
Total	Oxide	17.44	1.11	3.2	29	193,600	55,300
Total	Fresh	12.54	0.95	2.7	29	118,700	33,900
TOTAL		29.98	**1.04 **	2.9	29	312,300	89,300

Gifford Creek Carbonatite – Inferred Resource

Table 2: 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)
0.90	5.73	1.18	21	0.25	3.8	5.4	92	67,500	14,500
0.70	10.84	1.00	21	0.22	3.5	4.9	85	108,000	23,700
0.50	20.55	0.80	21	0.15	3.0	3.9	68	164,600	31,100
0.30	45.87	0.58	21	0.10	2.7	3.0	52	265,300	44,800

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SCHEDULE OF INTERESTS IN MINING TENEMENTS (as at 30 September 2024)

Tenement	Project	Location	Status	Interest Start of	Interest End of
				Quarter	Quarter
E04/2315	Tarraji	Kimberley, WA	Granted	80%1	80%1
E04/2508	Yampi	Kimberley, WA	Granted	100%	100%
E04/2557	Yampi	Kimberley, WA	Granted	100%	100%
E04/2608	Yampi	Kimberley, WA	Granted	100%	100%
E04/2860	Tarraji	Kimberley, WA	Application	-	-
E04/2861	Tarraji	Kimberley, WA	Application	-	-
E04/2862	Tarraji	Kimberley, WA	Application	-	-
E04/2863	Tarraji	Kimberley, WA	Application	-	-
E08/3178	Mangaroon	Gascoyne, WA	Granted	100%	100%
E08/3229	Mangaroon	Gascoyne, WA	Granted	-	100%4
E08/3274	Mangaroon	Gascoyne, WA	Granted	100%	100%
E08/3275	Mangaroon	Gascoyne, WA	Granted	100%	100%
E08/3439	Mangaroon	Gascoyne, WA	Granted	100%	100%
E08/3539	Mangaroon	Gascoyne, WA	Application	-	-4
E08/3740	Mangaroon	Gascoyne, WA	Application	-	-4
E09/2290	Mangaroon	Gascoyne, WA	Granted	100%	100%
E09/2359	Mangaroon	Gascoyne, WA	Granted	100%	100%
E09/2370	Mangaroon	Gascoyne, WA	Granted	100%	100%
E09/2384	Mangaroon	Gascoyne, WA	Granted	100%	100%
E09/2405	Mangaroon	Gascoyne, WA	Granted	100%	100%
E09/2422	Mangaroon	Gascoyne, WA	Granted	-	100%4
E09/2433	Mangaroon	Gascoyne, WA	Granted	100%	100%
E09/2448	Mangaroon	Gascoyne, WA	Granted	100%	100%
E09/2449	Mangaroon	Gascoyne, WA	Granted	100%	100%
E09/2450	Mangaroon	Gascoyne, WA	Granted	100%	100%
E09/2467	Mangaroon	Gascoyne, WA	Granted	100%	100%
E09/2473	Mangaroon	Gascoyne, WA	Granted	100%	100%
E09/2478	Mangaroon	Gascoyne, WA	Granted	100%	100%
E09/2535	Mangaroon	Gascoyne, WA	Granted	100%	100%
E09/2616	Mangaroon	Gascoyne, WA	Granted	100%	100%
E09/2937	Mangaroon	Gascoyne, WA	Application	-	-
M09/0091	Mangaroon	Gascoyne, WA	Granted	100%	100%
M09/0146	Mangaroon	Gascoyne, WA	Granted	100%	100%
M09/0147	Mangaroon	Gascoyne, WA	Granted	100%	100%
M09/0174	Mangaroon	Gascoyne, WA	Granted	100%	100%
M09/0175	Mangaroon	Gascoyne, WA	Granted	100%	100%
L09/0104	Mangaroon	Gascoyne, WA	Granted	100%	100%
L09/0108	Mangaroon	Gascoyne, WA	Granted	100%	100%
L09/0114	Mangaroon	Gascoyne, WA	Granted	-	100%2
E16/0495	Yerilgee	Yilgarn, WA	Granted	100%	100%
E29/0957	Illaara	Yilgarn, WA	Granted	100%	100%
E29/0959	Illaara	Yilgarn, WA	Granted	100%	100%
E29/0965	Illaara	Yilgarn, WA	Granted	100%	100%
E29/1050	Illaara	Yilgarn, WA	Granted	100%	100%
E29/1153	Illaara	Yilgarn, WA	Granted	100%	100%
E29/1204	Illaara	Yilgarn, WA	Granted	100%	100%
E29/1205	Illaara	Yilgarn, WA	Granted	100%	100%
E30/0471	Illaara	Yilgarn, WA	Granted	100%	100%
E30/0476	Illaara	Yilgarn, WA	Granted	100%	100%

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Tenement	Project	Location	Status	Interest Start of	Interest End of
				Quarter	Quarter
E30/0485	Illaara	Yilgarn, WA	Granted	100%	100%
E30/0493	Yerilgee	Yilgarn, WA	Granted	100%	100%
E30/0494	Yerilgee	Yilgarn, WA	Granted	100%	100%
E30/0554	Illaara	Yilgarn, WA	Granted	100%	100%
E30/0558	Illaara	Yilgarn, WA	Application	-	-
E77/2403	Elvire	Yilgarn, WA	Granted	100%	100%
E77/2416	Evanston	Yilgarn, WA	Granted	100%	100%
E77/2432	Evanston	Yilgarn, WA	Granted	100%	100%
E77/2634	Evanston	Yilgarn, WA	Granted	100%	100%
E52/3412	Bresnahan	Gascoyne, WA	Granted	100%	100%
E52/3462	Bresnahan	Gascoyne, WA	Granted	100%	100%
E52/3936	Bresnahan	Gascoyne, WA	Granted	100%	100%
E52/4083	Bresnahan	Gascoyne, WA	Granted	100%	100%
E52/4139	Bresnahan	Gascoyne, WA	Application	-	-
E52/4141	Bresnahan	Gascoyne, WA	Application	-	-
E52/4142	Bresnahan	Gascoyne, WA	Granted	100%	100%
E52/4143	Bresnahan	Gascoyne, WA	Granted	100%	100%
E52/4144	Bresnahan	Gascoyne, WA	Application	-	-
E52/4145	Bresnahan	Gascoyne, WA	Granted	100%	100%
E52/4228	Bresnahan	Gascoyne, WA	Granted	100%	100%
E04/2560	Wombarella	Kimberley, WA	Granted	100%	-~~5~~
P04/0306	Wombarella	Kimberley, WA	Granted	100%	-~~5~~
P04/0307	Wombarella	Kimberley, WA	Granted	100%	-~~5~~
P04/0308	Wombarella	Kimberley, WA	Granted	100%	-~~5~~
P04/0309	Wombarella	Kimberley, WA	Granted	100%	-~~5~~
E09/2531	Mangaroon	Gascoyne, WA	Granted	100%	-~~5~~
L29/0201	Mangaroon	Gascoyne, WA	Application	-	-~~5~~
L29/0202	Mangaroon	Gascoyne, WA	Application	-	-~~5~~
E29/1074	Illaara	Yilgarn, WA	Granted	-%~~3~~	-~~5~~
L29/0143	Illaara	Yilgarn, WA	Granted	100%	-~~5~~
E30/0499	Yerilgee	Yilgarn, WA	Granted	-%~~3~~	-~~5~~
P30/1157	Yerilgee	Yilgarn, WA	Granted	-%~~3~~	-~~5~~
E08/3356	Bresnahan	Gascoyne, WA	Granted	100%	-~~5~~
E52/3937	Bresnahan	Gascoyne, WA	Granted	100%	-~~5~~

1 E04/2315 subject to an 80/20 JV with Whitewater Resources Pty Ltd.

2 Tenements granted during the quarter.

3 Subject to an Option Agreement.

4 Applied for / acquired during the quarter.

5 Tenement surrendered / applications withdrawn during the quarter.

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+61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017

INVESTMENT HIGHLIGHTS

Mangaroon Au, Nb-REE, Ni-Cu-PGE Project (100%)

Mangaroon covers ~5,300kms[2] and is located 250kms southeast of Exmouth in the Gascoyne Region of WA. At Mangaroon, Dreadnought has consolidated areas of outcropping high-grade gold and historical high grade gold mines including the historic Star of Mangaroon and Diamond gold mines. Exploration at the Money Intrusion has identified high tenor Ni-Cu-PGE sulphides. In addition, Mangaroon has emerged as a globally significant, rapidly growing, potential source of critical minerals. Highlights include:

• An independent Resource for Yin Ironstones Complex of 29.98Mt @ 1.04% TREO over only ~4.6kms – including a Measured and Indicated Resource of 26.3Mt @ 1.04% TREO (ASX 30 Nov 2023).

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

• A large, independent initial Resource of 10.84Mt @ 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).

Kimberley Ni-Cu-Au Project (80/100%)

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The project 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.

Results to date indicate that there may be a related, large scale, Proterozoic Cu-Au VMS system at Tarraji-Yampi, similar to DeGrussa and Monty in the Bryah Basin.

Central Yilgarn Gold, Base Metals, Critical Minerals & Iron Ore Project (100%)

Central Yilgarn is located ~190km northwest of Kalgoorlie in the Yilgarn Craton. The project comprises ~1,400kms[2] covering ~150km of strike along the majority of the Illaara, Yerilgee, South Elvire and Evanston greenstone belts. Central Yilgarn is prospective for typical Archean mesothermal lode gold deposits, VMS base metals, komatiite-hosted nickel sulphides and critical metals including Lithium-Cesium-Tantalum.

Prior to consolidation by Dreadnought, the Central Yilgarn was predominantly held by iron ore explorers and remains highly prospective for iron ore.

Bresnahan HREE-Au-U Project (100%)

Bresnahan is located ~125km southwest of Newman in the Ashburton Basin. The project comprises ~3,700kms[2] covering over 200kms strike along the Bresnahan Basin / Wyloo Group unconformity. Bresnahan is prospective for unconformity related heavy rare earth (“ HREE ”) deposits similar to Browns Range HREE deposits, unconformity uranium (“ U ”) deposits and mesothermal lode gold similar to Paulsens Au-Ag-Sb deposits along strike.

Prior to consolidation by Dreadnought, the Bresnahan Basin had been successfully explored for unconformity uranium with limited exploration for mesothermal gold. Bresnahan is a first mover opportunity to explore for unconformity HREE.

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