DREADNOUGHT RESOURCES LTD — Investor Presentation 2022

Jun 22, 2022

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HIGHLY ACTIVE WEST AUSTRALIAN MINERAL EXPLORER FOCUSED ON DISCOVERY

GOLD COAST INVESTMENT SHOWCASE - JUNE 2022

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Disclaimer

Illaara Gold-VMS-Iron Ore Project

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.

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 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 Illaara Update and Regional Target Generation Drilling Results – Illaara Au-Cu-Iron Ore Project High-Grade Tantalum Results from Peggy Sue – Illaara Project Eight Conductors to be Drilled at Nelson and Trafalgar Cu-Pb-Zn-Ag Prospects – Illaara Project Drilling Complete at Illaara Project Grants Cu-Au Assays and Coincident Magnetic/Gravity Targets RC Results from Orion, Grant’s Find & Fuso Indicate Large Cu-u-Ag-Co System Bonanza Grade Cu-Ag-Sb-Bi Mineralisation at rough Triangle High-Grade Cu-Ag-Au-Co Discovery at Orion Further High-Grade Cu-Ag-Au-Co-Zn Orion Discovery EIS Drilling Grants for Mangaroon REE and Orion Cu-Ag-Au-Co Orion Auger Program – Taraji-Yampi Project Option/JV Agreement Signed with Global Base Metal Miner High Grade REE Ironstones Outcropping at Mangaroon Encouraging Results for Rare Earths at Yin Four New REE Ironstones Discovered at Mangaroon Five Carbonatite Intrusions Identified at Mangaroon Project Conductors Defined along the Money Intrusion – Mangaroon FQM JV EIS Drilling Grants for Mangaroon REE and Orion Cu-Ag-Au-Co Drilling Successfully Completed at Mangaroon Ni-Cu-PGE JV First Drilling at Yin Intersects High-Grade Rare Earths

This presentation includes forward-looking statements. When used in this document, the words such as “could”, “plan”, “estimate”, “”“”“”“”“”	Illaara Gold-VMS-Iron Ore P	roject
expect, intend, may, potential, should, and similar expressions are forward-looking statements. Although Dreadnought	• 6 December 2019	Consolidation
Resources Limited (“Dreadnought”) believes that the expectation reflected in these forward-looking statements are reasonable, such	• 19 March 2020	RC Drilling Hit
statement involved risks and uncertainties and no assurance can be given that actual results will be consistent with these forward- looking statements.	• 13 July 2020 • 25 September	RC Drilling Hit 2020 Further
This presentation has been prepared by Dreadnought for the purpose of providing an overview of its current prospects and growth	• 8 October 2020	Further High-G
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.	• 30 November 2020	Exploration Up
	• 27 April 2021	Illaara Update
This presentation is provided on the basis that neither Dreadnought nor its respective officers, shareholders, related bodies	• 31 May 2021	Drilling Result
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	• 7 July 2021	High-Grade T
presentation is, or may be relied upon, as a promise, representation or warrant, whether as to the past or the future. Dreadnought	• 15 February 2022	Eight Conduct
hereby excludes all warranties that can be excluded by law.	• 9 May 2022	Drilling Compl
All persons should consider seeking appropriate professional advice in reviewing the presentation and all other information with	Kimberley Ni-Cu-Au Project
respect to Dreadnought and evaluating the business, financial performance and operation of Dreadnought. Neither the provision of	• 23 December 2019	Grants Cu-Au
the presentation nor any information contained in the presentation or subsequently communicated to any person in connection with	• 25 August 2021	RC Results fro
the presentation is, or should be taken as, constituting the giving of investment advice to any person.	• 27 August 2021	Bonanza Grad
Competent Person’s Statement	• 15 November 2021	High-Grade C
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	• 8 December 2021 • 29 April 2022	Further High-G EIS Drilling Gr
relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a	• 22 June 2022	Orion Auger P
Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources	Mangaroon Ni-Cu-PGE, REE & Au Project
and Ore Reserves'. Mr. Tuck consents to the inclusion in the report of the matters based on the information in the form and context	• 07 April 2021	Option/JV Agr
in which it appears.	• 19 July 2021	High Grade R
The Company confirms that it is not aware of any new information or data that materially affects the information in the original	• 1 September 2021	Encouraging R
reports, and that the forma and context in which the Competent Person’s findings are presented have not been materially modified	• 9 September 2021	Four New RE
from the original reports. (referencing historic and new company announcements).	• 29 November 2021	Five Carbonat
Currency	• 14 February 2022	Conductors D
All amounts shown are in Australian dollars unless otherwise stated.	• 29 April 2022	EIS Drilling Gr
	• 10 June 2022	Drilling Succe
	• 16 June 2022	First Drilling at

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.

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

Com an Sna shot p y p

	Capital Structure
	ASX Code Share Price(23/06/2022)		DRE $0.040
	Shares on Issue		2,838.7M
	Market Cap(diluted)		~$116.6M
	Cash(31/03/2021) Unlisted Options(various strike prices)		~$4.6M 77.5M
	Top 20 Shareholders		~31%
	Board / Management Cash Investment Board / Management Shareholding	~$1,300,000 ~17%
	Board & Management
	Paul Chapman		Non-Executive Chairman
	Dean Tuck		Managing Director
	Ian Gordon		Non-Executive Director
	Paul Payne		Non-Executive Director
	Jessamyn Lyons Matt Crowe Frank Murphy Nick Chapman / Luke Blais / Sam Busetti		Company Secretary Exploration Manager Operations Manager Senior Geologists

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1. Discovery is the ultimate value creator in the resources industry

• Track record of delivering discoveries (Orion Cu-Ag-Au-Co, Mangaroon REEs, Illaara Au)

• Multiple discovery opportunities and resources to be delivered in 2022

2. Leverage and optionality with portfolio of quality projects and critical metals

• Rare earths, copper, nickel, cobalt, silver, lithium, tantalum and niobium

• Not ignoring the backbone of the industry – gold and iron ore

3. Title is vital

• Western Australia - Tier 1 jurisdiction

4. Board and Management with skin in the game

• ~$1.3M invested to date

• ~17% shareholding

5. Well funded and highly active

• 84% Money in the ground

• Consistent year-round news flow

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Illaara Au-Cu-LCT-Iron Ore

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Illaara U date – ALS Parkin Lot p g

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Nelson VMS Samples
Metzke’s Au Samples Spitfire Au and Iron Ore Samples
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*For illustrative purposes only, may not actually be where our samples are, but close.

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Mangaroon REE & Au (100%) Man aroon Ni-Cu-PGE g (FQM JV)

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Man aroon Pro ect g j

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Background

• Dreadnought has acquired a substantial ~4,500sqkm first mover land package in the Proterozoic aged Gascoyne mobile belt

Rare Earths: Yin Camp, Carbonatites – 100% Owned

• 2021: Discovered outcropping high grade REEs

• 2022: First drill holes intersected over 30m of REE ironstones

• Next door to Hastings Technology (HAS.ASX) Yangibana Project

• Currently drilling ~12,000m of RC drilling

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

• 2021: Re-discover outcropping high tenor magmatic sulphides

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

• Earn 51% interest by spending $15M and a further 19% interest by sole funding up until a Decision to Mine.

• 2022: First 9 out of 12 drill holes intersect magmatic Ni-Cu sulphides

• Recently completed drilling - DHEM currently underway

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Mangaroon REE

 Scale

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

• Carbonatites could be a game changer, evidence of fresh and residual REE mineralisation

 Grade

• High grade rock chips, up to 39.7% TREO, with high NdPr to TREO ratios – high value concentrate

• Recently identified Nb-Zr veins and phosphate mineralisation in the system

 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 REE Yin REE Ironstone – First holes

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Preliminary pXRF Results* include:

• YINRC001: 33m @ 2.5% TREO

• YINRC003: 17m @ 2.2% TREO

• YINRC005: 34m @ 2.9% TREO

• Next Steps:

• Proper assays – at the lab now

• Continued drilling

• Resource studies

*All samples preliminary pXRF: See announcement 16 June 2022

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Ross Chandler (ANU) at Yin June 2021
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REE Drill Program

Discovery and resource focused drill program ~~at the Yin REE Ironstones and~~ the REE Carbonatites

1. REE ironstone discovery drilling:

2. 90 holes 9,600m

3. REE carbonatite discovery drilling

4. 86 holes 4,900m

5. EIS Co-funded

6. Infill REE ironstone resource drilling

7. TBD

8. Drilling currently underway for the next 2-3 months

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Man aroon Ni-Cu-PGE – FQM JV g

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MNRK0366: 0.4% Cu, 0.4% Ni,
0.03% Co, 0.3 g/t Pt-Pd-Au
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The Money Intrusion

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

• ~1km long outcropping gossanous NiCu-PGE horizon

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• 12 RC holes for 1,862m recently drilled

• 9 holes intersecting disseminated to net-textured Ni-Cu sulphide

Next Steps:

• DHEM Survey currently underway

• Assays expected July/August 2022

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Tarraji-Yampi Ni-Cu-PGE &

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WMC’s David Barr (L) & Roy Woodall (R) at Tarraji
1950s
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~~Tarra i-Yam i j p~~

• Located just 80kms from the port of Derby and entirely within the Yampi Sound Training Area – Off limits to exploration since 1978

• 1900-1970s: Historical exploration / mining on outcropping copper lodes • Grant’s Find, Wilson’s Reward, Rough Triangle, Iron Clad, Chianti

• Dreadnought has secured first mover advantage within the YSTA

• Recent Cu-Ag-Au-Co discovery under cover

• Orion: Massive sulphide with high grade Cu-Ag-Au-Co

• Auger sampling successfully identifying additional Orion look-a-likes

• Next Steps: Deliver resources and additional discoveries • Resource drilling – Orion and Grant’s Find

  • Deep Dimond drilling at Orion – EIS Co-funded

• Discovery – Regional auger anomalies

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Orion Cu-A -Au-Co Discover g y

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Au er Results – Orion Trend g

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Orion Orientation

300x60m – 3,150ppm CuPbZnAs

Targets Generated

• Ironclad: 1,150x150m – 2,145ppm CuPbZnAs • Major Structure, potential significant scale

• OR1: 300x150m – 1,040ppm CuPbZnAs • Same structure as Orion

OR3: 650x100m – 1,230ppm CuPbZnAs

• Coincident EM conductor

OR4: 700x100m – 630ppm CuPbZnAs

• Coincident EM conductor

Next Steps:

• Remaining auger samples – July 2022

• Discovery focused RC Drilling August/September 2022

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Orion
Tarraji-Yampi
Kimberley ProgramAuger Grant’s
Find
Nickel
Booka
Mangaroon Money
Intrusion
(JV FQM)
High
Copper
Range
C1-5
Iron Ore
Mangaroon Yin
(100%)
Y2/3
Gold
Nelson
Metzke
Find
Illaara Peggy Sue Trafalgar King’s Critical
Spitfire Metals
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Kimberley Auger Program (Cu-Ag-Au-Co) RC and Diamond Drilling (Cu-Ag-Au-Co)
Mangaroon RC Drilling (Ni-Cu-PGE, REEs) JORC Resource
Illaara RC Drilling (Au, IO, Cu-Zn) Target testing
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Take Away Message

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

• Illaara: C ~~onsolidated 75km long underexplored~~ greenstone belt with early exploration success

• Drill program completed – assays pending

• Ni and LCT target generation work – assays pending

• Mangaroon Ni-Cu-PGE JV (FQM): Outcropping NI-Cu-PGE mineralisation and free carried to a decision to mine by FQM

• Ni-Cu-PGE drilling completed – assays pending

• DHEM underway

• Mangaroon REE and Au: first mover major land positions with outcropping REE mineralisation

• Discovery in hand – assays pending

• 2-3 months of continuous REE drilling

• Kimberley: first mover major land positions with proven Cu-Ag-Au-Co mineralisation and potential to unlock a new mineral province

• Auger program completed – assays pending  RC and DD Drilling August / September 2022

• Fully funded with an experienced management team with a track record of success and strongly aligned with shareholders

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