DREADNOUGHT RESOURCES LTD — Investor Presentation 2021

Sep 8, 2021

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HIGHLY ACTIVE WEST AUSTRALIAN MINERAL EXPLORER FOCUSED ON DISCOVERY

NEW WORLD METALS CONFERENCE - SEPTEMBER 2021

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Disclaimer

This presentation includes forward-looking statements. When used in this document, the words such as “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “should”, and similar expressions are forward-looking statements. Although Dreadnought Resources Limited (“Dreadnought”) believes that the expectation reflected in these forward-looking statements are reasonable, such statement involved risks and uncertainties and no assurance can be given that actual results will be consistent with these forwardlooking statements.

This presentation has been prepared by Dreadnought for the purpose of providing an overview of its current prospects and growth strategy to recipients. This presentation and its contents are provided to recipients on the basis that It may not be reproduced or disclosed in whole or in part to any other person, without the written consent of Dreadnought.

This presentation is provided on the basis that neither Dreadnought nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisers, make any representation or warrant (express of implied) as to the accuracy, reliability, relevance or completeness of the material contained in this presentation and nothing contained in the presentation is, or may be relied upon, as a promise, representation or warrant, whether as to the past or the future. Dreadnought hereby excludes all warranties that can be excluded by law.

All persons should consider seeking appropriate professional advice in reviewing the presentation and all other information with respect to Dreadnought and evaluating the business, financial performance and operation of Dreadnought. Neither the provision of the presentation nor any information contained in the presentation or subsequently communicated to any person in connection with the presentation is, or should be taken as, constituting the giving of investment advice to any person.

Competent Person’s Statement

The information in this announcement that relates to geology and exploration results and planning 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 report 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. (referencing historic and new company announcements).

Currency

All amounts shown are in Australian dollars unless otherwise stated.

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Illaara Gold-VMS-Iron Ore Project

75 km Long Illaara Greenstone Belt Acquired from Newmont Illaara Gold Project Update Consolidation of 75km Long Illaara Greenstone Belt RC Drilling Hits High Grades at Metzke’s Find RC Drilling Hits High Grade Gold at Metzke’s Find Three New Gold Targets Along Strike And Adjacent to Metzke’s Find Remaining Metzke’s Find Assays High-grade Iron Ore Opportunity - Illaara Greenstone Belt 2020 Further High-Grade Gold from Metzke’s Find Further High-Grade Gold from Metzke’s Find Exploration Update Illaara Gold-VMS-Iron Ore Project 100g/t Au from Maiden Drill Program at Longmore’s Find Longmore’s Find Assay Results – Illaara Gold-VMS-Iron Ore Project Illaara Update and Planned Lawrence’s Corridor Drilling Illaara Update and Regional Target Generation Drilling Results – Illaara Au-Cu-Iron Ore Project

• 24 June 2019 • 23 September 2019 • 6 December 2019 • 19 March 2020 • 13 July 2020 • 14 July 2020 • 17 July 2020 • 22 July 2020 • 25 September • 8 October 2020 • 30 November 2020 • 13 October 2020 • 12 January 2021 • 10 March 2021 • 27 April 2021 • 31 May 2021

Kimberley Ni-Cu-Au Project

Ground EM Survey Lights Up Strong Conductor at the Texas Ni-Cu-PGE Target Assays and EM Surveys Confirm Massive Sulphide System at Chianti-Rufina Grants Cu-Au Assays and Coincident Magnetic/Gravity Targets High Priority Copper Gold Targets at Fuso and Paul’s Find RC Results from Orion, Grant’s Find & Fuso Indicate Large Cu-u-Ag-Co System

• 6 June 2019 • 2 December 2019 • 23 December 2019

• 24 August 2020

• 25 August 2021

Mangaroon Ni-Cu-PGE, REE & Au Project

• 25 November 2020 Mangaroon Ni-Cu-PGE & Au Project • 07 April 2021 Option/JV Agreement Signed with Global Base Metal Miner • 19 July 2021 High Grade REE Ironstones Outcropping at Mangaroon • 1 September 2021 Encouraging Results for Rare Earths at Yin

Refer to Dreadnought announcements for JORC Table 1 and Table 2 for results and information contained in this presentation. ASX:DRE WWW.DREADNOUGHTRESOURCES.COM.AU

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Com an Sna shot p y p

	Capital Structure
	ASX Code		DRE
	Share Price(06/09/2021)	$0.038
	Shares on Issue	2,597.4M
	Market Cap(undiluted)	$98.7M
	Market Cap(diluted)	$101.8M
	Cash(30/06/2021)		$2.6M
	Debt		Nil
	Unlisted Options(various strike prices) Top 20 Shareholders		82.5M 34%
	Board and Management
	Paul Chapman – Non-Executive Chairman Dean Tuck – Managing Director		Board and Management Cash Investment
	Ian Gordon – Non-Executive Director				~$1,300,000
	Paul Payne – Non-Executive Director
	Jessamyn Lyons – Company Secretary
	Matt Crowe – Exploration Manager		Board		and Management Shareholding ~17%
	Frank Murphy – Operations Manager
	Nick Chapman / Luke Blais – Senior Geologist

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Kimberley Ni-Cu-Au Projects (100%, E04/2315 80%)

• ➢ 2,660km[2 ] land holding in the West Kimberley, 2[nd] largest land owner behind IGO and ahead of Chalice

• ➢ Unexplored since 1978 with known outcropping mineralisation

• Texas Ni-Cu-PGE: Coincident EM and magnetic target in the Ruins Dolerite

• Fuso and Paul’s Find Cu-Au: Coincident magnetic and gravity target

• Chianti VMS: 7 EM plates with outcropping mineralisation

Mangaroon Ni-Cu-PGE (Option with FQM), REE & Au Project (100%)

• ➢ ~4,500km[2 ] land holding in the Gascoyne Provence

• ➢ Vastly unexplored with historical work led by local pastoralists

• ➢ Recent option/JV agreement over outcropping fertile Ni-Cu-PGE system

• ➢ Outcropping rare earth ironstones, nickel-copper-PGE sulphides and gold

Illaara Gold-VMS-LCT-Iron Ore Project (100%)

• ➢ Consolidated 880km[2] landholding covering 75km strike of the Illaara greenstone belt initially acquired from Newmont

• ➢ High grade gold, outcropping fertile LCT pegmatites, Iron Ore and base metal gossans

• ➢ Metzke’s Find maiden JORC resource underway:

• MZRC016: 3m @ 21.0g/t Au from 85m • MZRC021: 3m @ 13.8g/t Au from 108m

• MZRC017:. 7m @ 7.5g/t Au from 51m • MZRC022: 2m @ 20.7g/t Au from 19m

• MZRC019: 2m @ 39.2g/t Au from 45m • MZRC030: 2m @ 10.8g/t Au from 102m

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Mangaroon Ni-Cu-PGE, REE & Au Project

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Man aroon Pro ect g j

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➢Rare Earths: Yin Camp – 100% Owned

• Outcropping high-grade Rare-Earth ironstones – similar to Yangibana

• High NdPr ratio – high value product for permanent magnets

• Straight forward exploration and metallurgical methodology

➢Ni-Cu-PGE: The Money Intrusion – Option/JV with FQM

• 50km long, outcropping mafic/ultramafic intrusion with high tenor blebby Cu-Ni-PGE bearing sulphides

• FQM entered into an Option Agreement over 5 tenements covering the Money Intrusion

• Option provides FQM the right, following the completion of an exploration program funded by FQM, to earn 51% interest in the tenements by spending $15M and a further 19% interest by sole funding all exploration up until a Decision to Mine.

• Dreadnought manages exploration during the option period and retains rights to any gold discoveries.

➢Gold: Minga Bar and Edmund Faults – 100% Owned

• Known outcropping gold mineralisation along two crustal scale structures

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Yin REE Ironstones

• ➢ April – May 2021: Discovery

• Next door to Yangibana – keen geologists

• Reprocessed wide spaced 1990s government magnetic and radiometric data

• Identified coincident thorium radiometric and magnetic anomaly over what looked like an outcropping ironstone

• Yin Discovered

• ➢ June – August 2021: Evaluation

• Reconnaissance mapping and sampling of additional anomalies

• Orientation ground magnetics

• Orientation surface geochemistry

• Early metallurgical flotation test work

• Early mineralogical work

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Pr
La
Nd
Six REE ironstones identified to date
with over an area of ~10kms x 5kms
High grade rock chips with high NdPr
Pr
Monazite – globally significant REE
mineral with abundant processing
capacity with three plants to be built in
Standard flotation sheet able to
produce high grade concentrate
Next Steps: How big is it and how many more are there?
12.3% Nd2O3 / 40% TREO with
September 2021: Airborne magnetic and radiometric survey
October 2021: Environmental and heritage surveys
March 2022: Discovery and resource focused drilling
Mid-Late 2022: Deliver maiden JORC resource
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Pr
La
Ce
Nd
Pr
Nd
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Yin REE Ironstones

✓ Scale

• Six REE ironstones identified to date with over an area of ~10kms x 5kms

• ✓ Grade

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Pr
Nd
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• High grade rock chips with high NdPr ratios – high value concentrate

• ✓ Mineralogy

• Monazite – globally significant REE mineral with abundant processing capacity with three plants to be built in WA

• ✓ Metallurgy

• Standard flotation sheet able to produce high grade concentrate

• 12.3% Nd2O3 / 40% TREO with 92.8% process recovery

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Mangaroon Ni-Cu-PGE ~~O tion/JV A reement with FQM p g~~

➢ The Money Intrusion

• 50km long, outcropping mafic / ultramafic intrusion with high tenor blebby Cu-Ni-PGE bearing sulphides

• 1km long outcropping gossanous Ni-Cu-PGE horizon at Bookathanna

Next Steps: Is there a massive sulphide accumulation? September – November 2021: Ground EM surveys October / November 2021: Environmental and heritage surveys March 2022: Discovery focused drilling

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MNRK0366: 0.4% Cu, 0.4% Ni,
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0.03% Co, 0.3 g/t Pt-Pd-Au
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Coarse grained mafic intrusion showing high tenor three phase disseminated and blebby sulphides comprised of chalcopyrite, 8 pentlandite and pyrrhotite

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Tarraji-Yampi Ni-Cu-PGE &

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~~Tarraji-Yampi~~

• ➢ Located just 80kms from the port of Derby and entirely within the Yampi Sound Training Area – unexplored since 1978

• ➢ Abundant outcropping Cu-Au-Ag-Bi-Sb-Co mineralisation – vectors to mineralisation undercover

• Grant’s Find – Discovered 1906

• Rough Triangle – Discovered 1958 (but was never assayed)

• ➢ Hunting the elephants under shallow cover

• Orion – First hole drilled 2021, 3m of cover into 12m of massive sulphide from 45m depth.

• Fuso – First program confirmed high grade mineralisation, but the magnetic anomalies remain to be tested – stronger than Orion

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Orion Cu-A -Au Tar et g g

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12m of massive sulphide from the first hole drilled at Orion – clipped the edge of the plate

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E W

Next Steps: How big is Orion and how many friends does it have? September 2021: RC drilling testing the strike and depth extents of the coincident magnetic and EM anomaly September 2021: RC drill testing supergene mineralisation October 2021: DHEM surveys on deep drilling October 2021: Test additional magnetic and EM anomalies at Orion October 2021:

DHEM surveys on deep drilling Test additional magnetic and EM anomalies at Orion Initial diamond drilling

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Gr ~~ant~~ ’ ~~s Find and~~ Fuso Cu-Au-Co

➢ Grant’s Find

• Outcropping breccia vein over 800m strike.

• Best intercept to date – most northern drill hole.

• 10m @ 2.3@ Cu, 0.03% Co

➢ Fuso

• Multiple strong magnetic anomalies, completely under shallow cover.

• New magnetic data indicating we missed the target due to hole deviation.

• 1m @ 2.1% Cu, 0.24% Co, 0.1g/t Au

Next Steps: Explain the magnetic anomaly and does Grant’s Find improve to the North?

October 2021: October 2021: October 2021:

Revisit the Fuso magnetic anomalies DHEM survey at Fuso Test Grants further along strike to the north

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Illaara Au-Cu-LCT-Iron Ore

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Illaara Project Overview

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Lithium Caesium Tantalum Pegmatites – Peggy Sue

• Outcropping fertile LCT pegmatite swarm over an area of 5km x 2kms with multiple clusters of high-grade tantalum (up to 529ppm Ta2O5)

• Additional mapping and sampling over mineralised clusters will assist with determining zonation trends and define drill targets

VMS - Nelson

• ~1.4km long Cu-Pb-Zn-Ag anomaly situated over prospective changes in lithology (peak values 640ppm Pb; 1,100ppm Zn; 300ppm Cu; 0.5 g/t Ag)

• • FLEM survey to define drill target

Gold

• Near surface high grade gold confirmed at Metzke’s and Lawrence’s Find – potential to host multiple high grade gold deposits.

• MZRC016: 3m @ 21.0g/t Au from 85m

  • MZRC019: 2m @ 39.2g/t Au from 45m

• •

• MZRC017:. 7m @ 7.5g/t Au from 51m MZRC022: 2m @ 20.7g/t Au from 19m

• Regional sampling over central and eastern corridor highlighting new large scale coherent gold in soil anomalies

Iron Ore

• P-North: 29m @ 58.6% Fe, 8.3% SiO2, 3.4% Al2O3, 0.04% P, and 4.0% LOI from 6m • Incl. 16m @ 64.4% Fe, 2.4% SiO ~~2~~ , 1.3% Al ~~2~~ O3, 0.04% P and 3.7% LOI from 8m

• Kings: 49m @ 55.7% Fe, 9.1% SiO2, 3.1% Al2O3, 0.04% P, and 4.0% LOI from 13m • Incl. 11m @ 62.7% Fe, 2.5% SiO2, 1.2% Al2O3, 0.05% P and 6.1% LOI from 48m

• P-3: 20m @ 58.5% Fe, 2.9% SiO2, 1.9% Al2O3, 0.06% P, and 9.5% LOI from 48m • Incl. 5m @ 60.3% Fe, 2.2% SiO2, 1.5% Al2O3, 0.03% P and 8.6% LOI from 55m

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Au

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2021 Work Plan

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Target Generation
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Target Testing
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Target Evaluation
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Resource
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Target Definition
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Paul’s
Wombarella Tarraji-Yampi Find Fuso Texas Orion
South Tarraji- Monarch Wilson’s Rough Orion Grant’s Kimberley
Kimberley Yampi Find Triangle Chianti Find
Western
VMS Defiance Black
Regional Eastern Peggy Spitfire Oak Metzke’s
Illaara VMS Sue Find Illaara
Central CRA Lawrence’s
Illaara Nelson Homestead Corridor
White
Minga Bar Fault Money Mitchell’s Well Booka-
Intrusion
thanna
Find
Regional Yin
Streams REE Mangaroon
Cullen’s
Ironstones Edmund Lumpy’s Y2-6 Find
Fault
Sept Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug
Kimberley Drilling Drilling
Mangaroon Drilling
Illaara Drilling Drilling
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Cu-Au
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Critical
Metals
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Target generation Target definition Target testing

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Take ~~Away Message~~

• ➢ Strong ~~news flow: Discovery and~~ evaluation / resource drilling focus for the next 12 months

• ➢ Kimberley and Mangaroon: first mover with potential for major Cu, Au, Ni and REE deposits

• ➢ Illaara: Consolidated 75km long underexplored greenstone belt with early exploration success

• ➢ Experienced management team with a track record of success and strongly aligned with shareholders

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