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HIGHLY ACTIVE WEST AUSTRALIAN MINERAL EXPLORER FOCUSED ON DISCOVERY

DECEMBER QUARTERLY PRESENTATION - JANUARY 2022

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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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Refer to Dreadnought announcements for JORC Table 1 and Table 2 for results and information contained in this presentation. Illaara Gold-VMS-Iron Ore Project

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 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 Illaara Update and Regional Target Generation Drilling Results – Illaara Au-Cu-Iron Ore Project High-Grade Tantalum Results from Peggy Sue – Illaara Project

• 6 December 2019 • 19 March 2020 • 13 July 2020 • 22 July 2020 • 25 September • 8 October 2020 • 30 November 2020 • 27 April 2021 • 31 May 2021 • 7 July 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 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

• 6 June 2019

• 2 December 2019

23 December 2019 • 24 August 2020 • 25 August 2021 • 27 August 2021 • 15 November 2021 • 8 December 2021

Mangaroon Ni-Cu-PGE, REE & Au Project

Mangaroon Ni-Cu-PGE & Au 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

• 25 November 2020

07 April 2021

• 19 July 2021

• 1 September 2021 • 9 September 2021 • 29 November 2021

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Com an Sna shot p y p

Capital Structure
ASX Code		DRE
Share Price(27/10/2021)		$0.037
Shares on Issue		2,837.2M
Market Cap(diluted)		$107.8M


Cash(31/12/2021)		~$5.6M
Unlisted Options(various strike prices)		77.0M
Top 20 Shareholders		~32%
Board / Management Cash Investment	~$1,300,000
Board / Management Shareholding		~17%
Board & Management
Paul Chapman		Non-Executive Chairman
Dean Tuck		Managing Director
Ian Gordon Paul Payne		Non-Executive Director Non-Executive Director
Jessamyn Lyons Matt Crowe		Company Secretary Exploration Manager
Frank Murphy		Operations	Manager
Nick Chapman / Luke Blais / Sam Busetti		Senior Geologists

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

➢ ~1,400km[2 ] land holding in the West Kimberley
➢ Unexplored since 1978 with known outcropping mineralisation
Orion – High-grade Cu-Co-Ag-Au-Zn Massive Sulphides
Rough Triangle – High-grade Cu-Ag-Bi-Sb Veins
Fuso and Grants – Cu-Co-Au mineralisation

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

➢ ~4,900km[2 ] land holding in the Gascoyne Provence
➢ Vastly unexplored with historical work led by local pastoralists
Yin, Y2 and Y3 – REE bearing Ironstones
C1-C5 – Carbonatite intrusions
Bookathanna – 1km long Ni-Cu-PGE gossan

Illaara Gold-Base Metals-LCT-Iron Ore Project (100%)

➢ Consolidated ~650km[2] landholding covering 75km strike of the Illaara greenstone belt.
➢ High grade gold, outcropping fertile LCT pegmatites, Iron Ore and base metal gossans.

➢ Metzke’s Find maiden gold resource underway:

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December Quarter 2021 Performance

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[1 ] $600k Convertible Note
22 *[2 ] ~$25k / month going forward
1 1
*Values rounded

*Confirmed Cu-Ag-Au-Co Discovery at Orion

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Strate and Performance gy

EFFECTIVE AND EFFICIENT EXPLORATION

DELIVER SIGNIFICANT SHAREHOLDER RETURNS

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STRONG COMMUNITY AND STAKEHOLDER ENGAGEMENT

Increase value through advancing exploration targets through discovery to resource
Chalice – Julimar
De Grey – Hemi
Sirius – Nova Bollinger
Liontown – Kathleen Valley

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We strive to develop win-win relationships with key stakeholders – our licence to operate

80% of funds go into the ground
Maintain a pipeline of strong targets and drill results
- *2
Water bores for pastoralists
Upgrades to homestead outcamp
Maintain a stable of large scale projects with potential for multiple commodities
Fire fighting trailer for the Dambimangari
Site recycling to local sports clubs
Low impact exploration
Engagement with CSIRO and Universities

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Gold

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2022 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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Find
Mt Humbert Tarraji-Yampi Monarch Rough Grant’s Kimberley
Chianti Find
Triangle
Money Carbonatites High C1-5
Intrusion Range Y3
Regional Streams
REE Lumpy’s Booka- Yin Mangaroon
Ironstones thanna Y4-6 Y2
Nelson Metzke’s
Peggy Find
Sue Kings Illaara
Trafalgar
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Kimberley
Mangaroon
Illaara
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Iron Ore
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Critical
Metals
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Target generation Target definition Target testing

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Tarraji-Yampi Ni-Cu-PGE &

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Rare Exploration Opportunity

Outcropping mineralisation
Off limits since 1978
First movers within the YSTA

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WMC’s David Barr (L) & Roy Woodall (R) at Tarraji – 1950s

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1956-1959: Last 1978-2013: YSTA significant mineral Defense Reserve exploration at Tarraji “off limits” to undertaken by WMC mineral exploration

➢ Half of all mineral deposits in Australia discovered after 1983
➢ No exploration since 1958 (Tarraji) / 1972 (Chianti-Rufina)
➢ Yampi Sound Training Area (Defense Reserve) off-limits to exploration from 1978-2013
➢ West Kimberley is controlled by IGO, Dreadnought and Chalice

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Tarraji-Yampi

➢ Located just 80kms from the port of Derby and entirely within the Yampi Sound Training Area
➢ Historical exploration / mining on outcropping copper lodes
Grant’s Find, Wilson’s Reward, Rough Triangle, Iron Clad, Tarraji
➢ Recent Cu-Ag-Au-Co discovery under cover
Orion: Massive sulphide with high grade Cu-Ag-Au-Co
From just 1m under the surface, including supergene mineralisation
➢ Next Steps: Deliver resources and additional discoveries
Resource drilling – Orion and Grant’s Find
Discovery – dozens of non outcropping targets, ability to geochemically screen

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Orion Cu-A -Au-Co g

Oxide and Supergene from ~1m depth, massive sulphide from ~30m. Remains open at depth and along strike

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Orion Cu-A -Au-Co Tar et g g

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Depth of cover is only 1-5m – amendable to shallow auger drilling to assist with target screening and ranking

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Next Steps: How big is it?
June/July 2022: Resource drilling
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Tarraji-Yampi Regional Targeting

Numerous targets remain to be tested at Tarraji. *All targets to be screened by low impact auger drilling

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Yampi survey only recently completed
Tarraji
Yampi
Next Steps: How many more are there?
March/April 2022: Auger drilling
July-September 2022: RC 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: Deliver resource on Grants, screen Fuso with Auger March/April 2022: June-September 2022: RC drilling at Grants Find and new targets

Auger drilling at Fuso along with regional targets RC drilling at Grants Find and new targets

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Rough Triangle: Cu-Ag-Bi-Sb

➢ 1.2km long outcropping vein of high-grade Cu-Ag-Bi-Sb mineralisation
➢ Significant rock chips include:
RT07: 20.4% Cu, 4.6% Sb, 0.9% Bi, 101g/t Ag
• RTC01: 83.7% Cu, 142g/t Ag
• RT09: 18.9% Cu, 14.1% Sb, 1.6% Bi, 196g/t Ag
• RT12: 18.5% Cu, 10.8% Sb, 1.9% Bi, 291g/t Ag
➢ Drilling expected May/June 2022

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Mangaroon REE & Au (100%) Mangaroon Ni-Cu-PGE (FQM J/V)

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Proterozoic Mobile Belts

➢ Proterozoic mobile belts are attractive with the potential to host world class deposits across a range of commodities
➢ Mangaroon compliments the Kimberley
Both have potential Tier 1 discoveries
Both have been historically underexplored despite outcropping mineralisation
Dreadnought has acquired a substantial first mover land package in both provinces
➢ Option/JV Agreement regarding base metal rights with First Quantum Minerals
Dreadnought to manage early-stage exploration and retains certain rights to gold discoveries
First Quantum Minerals to fully fund exploration through decision to mine

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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 to TREO ratio – high value product for permanent magnets
Mineralogy and metallurgic work confirms high grade concentrate product
Next Steps: Resource drilling Yin, drill test the Carbonatites

➢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
earn 51% interest by spending $15M and a further 19% interest by sole funding up until a Decision to Mine.
Dreadnought retains rights to any gold discoveries.
Next Steps: Model FLEM results, drill gossans at Bookathanna and any conductors

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Yin REE Ironstones
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Yin REE Ironstones

✓ Scale

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

✓ Grade

High grade rock chips, up to 11.37% TREO, with high NdPr to TREO 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

➢ Since the 1990s, where are the source carbonatite intrusions?

REE Ironstones dykes and Nb bearing veins known at Yangibana – classical model
Interpreted to stop at the Lyons River Fault – source carbonatite at depth

➢ July – September 2021

REE Ironstones dykes confirmed south of the Lyons River Fault
~50,000-line kilometer airborne magnetic survey commenced to identify: Outcropping ironstones, buried ironstones, carbonatites

➢ November – December 2021

Carbonatites identified in new mag data, confirmed on the ground - assays pending

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Possible REE Carbonatites

➢Potential for large scale REE mineralisation

Residual – ex. Mt Weld, Araxa, Yangibana,
Fresh Rock – ex. Mountain Pass, Mt Weld
~~➢Evidence for both fresh and residual mineralis~~ ation
99.8% of inter ~~preted intrusions under calcrete cover~~
Outcrops within C3 and C4 have been confirmed

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Next Steps: Is it mineralised?

February 2022: Results from surface sampling and mapping March / April 2022: Discovery focused drilling

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Mangaroon Ni-Cu-PGE

➢ 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? February 2022: Results from FLEM surveys March 2022: Discovery focused drilling

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

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Illaara Project

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Illaara Au-Cu-LCT-Iron Ore Project

➢ Initially acquired from Newmont and through subsequent deals have consolidated ~75km strike of underexplored greenstone belt
➢ First significant gold and base metal exploration since the 1980s and 1990s. Previously held by iron ore explorers.

➢ Active neighbours including:

Ramelius Resources (RMS) – Marda Operations
Ora Banda Mining (OBM) – Davyhurst Gold Project
Aurenne Group – Mt Ida and Bottle Creek Gold Project
Mineral Resources (MIN) – Central Yilgarn Operations

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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 to define drill targets for early 2022

VMS – Nelson and Trafalgar

~1.4km long Cu-Pb-Zn-Ag anomaly situated over prospective changes in lithology (peak values 640ppm Pb; 1,100ppm Zn; 300ppm Cu; 0.7 g/t Ag)
• FLEM surveys underway to define drill target

Gold

High-grade gold resource at Metzke’s Find in March quarter 2022
Regional sampling over central and eastern corridor highlighting new large scale coherent gold in soil anomalies

Iron Ore

Resource evaluation drilling in June quarter 2022
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

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Pe Sue: LCT Pe matite ggy g

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~200 rock chips of pegmatite swarm collected
Large outcropping pegmatites 10-30m wide 300-500m long.
Early results showing high tantalum – fertile system.
Further mapping and sampling around clusters to determine zonation and fractionation trends to locate lithium rich zones.

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Opportunity for Cu-Zn-Ag Massive Sulphide deposits analogous to Jaguar and Scuddles

Nelson and Trafal ar VMS g

Nelson defined by ~1.5km long Cu-Zn-Pb-Ag in soil anomaly with strong VMS pathfinder (Au, Cd, In, Sn, Tl) association associated with a thin sediment horizon between a lower felsic volcaniclastic sequence and upper mafic volcanics.
Trafalgar defined by a ~500m long discrete double magnetic anomaly location within a thick felsic volcaniclastic sequence.
FLEM survey completed, results expected February 2022.

RC drilling to commence February 2022.

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Metzke’s Find: Hi h- rade Gold g g

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Resource work underway – expected March 2022

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Iron Ore

➢ Illaara contains significant iron ore potential which was briefly explored by Portman Iron and then Cleveland Cliffs from 2008-2013:
High iron and low phosphorus grades compared with regional players
Same geology as the high iron, low phosphorus Mt Richardson development
Contains a ~75km long internal haul road
➢ Some of the more advanced prospects include:
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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Take Away Message

➢ Strong ~~news flow: Discovery and~~ evaluation / resource drilling focus for the next 12 months
➢ Illaara: Consolidated 75km long underexplored greenstone belt with early exploration success
➢ Drilling February 2022
➢ Mangaroon: first mover major land positions with proven REE, Ni-Cu-PGE and Au mineralisation
➢ Drilling March/April 2022
➢ Kimberley: first mover major land positions with proven Cu-Ag-Au-Co mineralisation and potential to unlock a new mineral province
➢ Drilling June/July 2022
➢ Experienced management team with a track record of success and strongly aligned with shareholders

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AI assistant

DREADNOUGHT RESOURCES LTD — Investor Presentation 2022

64785_rns_2022-01-30_9d505cc6-fd1a-4ef5-aea0-39d99b90792f.pdf

HIGHLY ACTIVE WEST AUSTRALIAN MINERAL EXPLORER FOCUSED ON DISCOVERY

DECEMBER QUARTERLY PRESENTATION - JANUARY 2022

Disclaimer

Competent Person’s Statement

Currency

Kimberley Ni-Cu-Au Project

Mangaroon Ni-Cu-PGE, REE & Au Project

Com an Sna shot p y p

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

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

Illaara Gold-Base Metals-LCT-Iron Ore Project (100%)

➢ Metzke’s Find maiden gold resource underway:

December Quarter 2021 Performance

*Confirmed Cu-Ag-Au-Co Discovery at Orion

Strate and Performance gy

EFFECTIVE AND EFFICIENT EXPLORATION

DELIVER SIGNIFICANT SHAREHOLDER RETURNS

STRONG COMMUNITY AND STAKEHOLDER ENGAGEMENT

2022 Work Plan

Tarraji-Yampi Ni-Cu-PGE &

Rare Exploration Opportunity

~~Tarraji-Yampi~~

Orion Cu-A -Au-Co g

Orion Cu-A -Au-Co Tar et g g

Tarraji-Yampi Regional Targeting

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

➢ Grant’s Find

➢ Fuso

Rough Triangle: Cu-Ag-Bi-Sb

Mangaroon REE & Au (100%) Mangaroon Ni-Cu-PGE (FQM J/V)

~~Proterozoic Mobile Belts~~

Man aroon Pro ect g j

➢Rare Earths: Yin Camp – 100% Owned

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

Yin REE Ironstones

✓ Scale

✓ Grade

✓ Mineralogy

✓ Metallurgy

➢ Since the 1990s, where are the source carbonatite intrusions?

➢ July – September 2021

➢ November – December 2021

Possible REE Carbonatites

➢Potential for large scale REE mineralisation

Next Steps: Is it mineralised?

Mangaroon Ni-Cu-PGE

~~➢ The Money Intrusion~~

Illaara Au-Cu-LCT-Iron Ore

Illaara Project

Illaara Au-Cu-LCT-Iron Ore Project

➢ Active neighbours including:

Illaara Project Overview

Lithium Caesium Tantalum Pegmatites – Peggy Sue

VMS – Nelson and Trafalgar

Gold

Iron Ore

Pe Sue: LCT Pe matite ggy g

Opportunity for Cu-Zn-Ag Massive Sulphide deposits analogous to Jaguar and Scuddles

~~Nelson and~~ Trafal ar VMS g

Metzke’s Find: Hi h- rade Gold g g

Iron Ore

Take ~~Away Message~~

More from DREADNOUGHT RESOURCES LTD

DREADNOUGHT RESOURCES LTD Investor Presentation 2022

Tarraji-Yampi

Gr ant ’ s Find and Fuso Cu-Au-Co

Proterozoic Mobile Belts

➢ The Money Intrusion

Nelson and Trafal ar VMS g

Take Away Message