DREADNOUGHT RESOURCES LTD — Investor Presentation 2024

Feb 12, 2024

Finding the Metals for Our Future

RIU EXPLORERS CONFERENCE 13 FEBRUARY 2024

ASX:DRE

dreadnoughtresources.com.au

Disclaimer

Refer to Dreadnought	announcements for JORC Table 1 and Table 2 for results and information contained	This presentation has been prepared by Dreadnought Resources Limited
in this presentation.		(Dreadnought or the Company). It contains general information about the Company’s
		activities current as at the date of the presentation. The information is provided in
Central Yilgarn Project		summary form and does not purport to be complete. This presentation is not to be
27 April 2021	Illaara Update and Regional Target Generation	distributed (nor taken to have been distributed) to any persons in any jurisdictions to
31 May 2021	Drilling Results – Illaara Au-Cu-Iron Ore Project	whom an offer or solicitation to buy shares in the Company would be unlawful. Any
7 July 2021	High-Grade Tantalum Results from Peggy Sue – Illaara Project	recipient of the presentation should observe any such restrictions on the distribution
1 August 2022	Completion of Acquisition – Central Yilgarn Project	of this presentation and warrants to the Company that the receipt of the presentation
1 November 2022	Successful Drill Results Across Multiple Metals	is not unlawful. It should not be considered as an offer or invitation to subscribe for
27 April 2022	Initial High-Grade Resource at Metzke’s Find	or purchase any securities in the Company or as an inducement to make an offer or
8 February 2024	Seven Camp Scale Gold Prospects at Central Yilgarn	invitation with respect to those securities. No agreement to subscribe for securities
		in the Company will be entered into on the basis of this presentation or any
Kimberley Project		information, opinions or conclusions expressed in the course of this presentation.
25 August 2021	RC Results from Orion, Grant’s Find & Fuso Indicate Large Cu-u-Ag-Co System	This presentation is not a prospectus, product disclosure document or other offering
27 August 2021	Bonanza Grade Cu-Ag-Sb-Bi Mineralisation at rough Triangle	document under Australian law or under any other law. It has been prepared for
15 November 2021	High-Grade Cu-Ag-Au-Co Discovery at Orion	information purposes only. This presentation contains general summary information
8 December 2021	Further High-Grade Cu-Ag-Au-Co-Zn Orion Discovery	and does not take into account the investment objectives, financial situation and
22 June 2022	Orion Auger Program – Taraji-Yampi Project	particular needs of any individual investor. It is not financial product advice and
20 June 2023	Highly Conductive Anomalies Enhance Orion Look-Alikes– Taraji-Yampi Project	investors should obtain their own independent advice from qualified financial advisors
		having regard to their objectives, financial situation and needs. Dreadnought nor any
Mangaroon Project		of their related bodies corporate is licensed to provide financial product advice. This
07 April 2021	Option/JV Agreement Signed with Global Base Metal Miner	presentation and information, opinions or conclusions expressed in the course of this
29 November 2021	Five Carbonatite Intrusions Identified at Mangaroon Project	presentation contains forecasts and forward-looking information. Such forecasts,
14 February 2022	Conductors Defined along the Money Intrusion – Mangaroon FQM JV	projections and information are not a guarantee of future performance, involve
17 October 2022	Mineralised carbonatite discovered at C3 and C4	unknown risks and uncertainties. Actual results and developments will almost
24 October 2022	Broad high-grade assays at Yin REE Discovery	certainly differ materially from those expressed or implied. There are a number of
10 November 2022	Exploration Update Mangaroon Ni-Cu-PGE	risks, both specific to Dreadnought, and of a general nature which may affect the
28 December 2022	Initial High-Grade, Independent Resource Over 3kms at Yin	future operating and financial performance of Dreadnought, and the value of an
27 January 2023	Mineralised REE Ironstones increased by 13kms to 43kms	investment in Dreadnought including and not limited to title risk, renewal risk,
13 February 2023	Rare Earth Ironstone Exploration Target Defined	economic conditions, stock market fluctuations, commodity demand and price
3 April 2023	Carbonatites deliver thick near surface REE Results	movements, timing of access to infrastructure, timing of environmental approvals,
29 May 2023	Metallurgical Test work Supports High Grade Concentrate	regulatory risks, operational risks, reliance on key personnel, reserve estimations,
6 June 2023	Mangaroon Gold Review and Further Consolidation	native title risks, cultural heritage risks, foreign currency fluctuations, and mining
13 June 2023	Yin Extended by 1km & 2.5km of High Grade NdPr Discoveries	development, construction and commissioning risk. You should not act or refrain
13 September 2023	Highest Grades to date from Yin Infill Drilling	from acting in reliance on this presentation, or any information, opinions or
2 October 2023	Mangaroon Carbonatite now >17km – Higher Grade Zones Fiingerprinted	conclusions expressed in the course of this presentation. This presentation does not
30 November 2023	Large, High Confidence Yin Ironstone Resource	purport to be all inclusive or to contain all information which its recipients may
11 December 2023	Thick, High-Grade Gold Including 7m @ 23.0g/t Au	require in order to make an informed assessment of the prospects of Dreadnought.
22 January 2024	Star of Mangaroon Extended	You should conduct your own investigation and perform your own analysis in order
12 February 2024	Star of Mangaroon Camp Scale Gold Prospect Continues to Expand	to satisfy yourself as to the accuracy and completeness of the information, statements
		and opinions contained in this presentation before making any investment decision.
		Recipients of this presentation must undertake their own due diligence and make
Bresnahan REE-Au	Project	their own assumptions in respect of the information contained in this presentation
8 February 2023	Bresnahan Emerging As a Light & Heavy Rare Earth	and should obtain independent professional advice before making any decision based
	Province	on the information. No representation or warranty, express or implied, is made in
26 October 2023	Significant HREE, Gold & Uranium Potential

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relation to the fairness, accuracy or completeness of the information, opinions and conclusions expressed in the course of this presentation. To the maximum extent permitted by law, no representation, warranty or undertaking, express or implied, is made and, to the maximum extent permitted by law, no responsibility or liability is accepted by the Company or any of its officers, employees, agents or consultants or any other person as to the adequacy, accuracy, completeness or reasonableness of the information in this presentation. To the maximum extent permitted by law, no responsibility for any errors or omissions from this presentation whether arising out of negligence or otherwise is accepted. An investment in the shares of the Company is to be considered highly speculative. The exploration targets or conceptual exploration targets in this presentation or expressed during the course of this presentation are subject to completion of the necessary feasibility studies, permitting and execution of all necessary infrastructure agreements. This presentation and information, opinions or conclusions expressed in the course of this presentation should be read in conjunction with Dreadnought's other periodic and continuous disclosure announcements lodged with the ASX, which are available on the Dreadnought website. They involve risk and uncertainties that could cause actual results to differ from estimated results. Forward-looking statements include, but are not limited to, statements concerning the Company’s exploration programme, outlook and target sizes. They include statements preceded by words such as “potential”, “target”, “scheduled”, “planned”, “estimate”, “possible”, “future”, “prospective” and similar expressions.

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).

ASX:DRE

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Company Snapshot
Capital Structure
ASX Code DRE
Share Price (12/02/2024)(12/02/2024) $0.019
Shares on Issue 3,479M
Market Cap ~$66.1M
Cash (31/12/2023 + R&D Rebate)(31/12/2023 + R&D Rebate) ~$5.0M
Unlisted Securities (various strike prices)(various strike prices) 83.7M
Liquidity (90-day average)(90-day average) ~$0.1M / day
Board and Management Cash Investment ~$6,200,000
Board & Management
Paul Chapman Non-Executive Chairman
Dean Tuck Managing Director
Philip Crutchfield Non-Executive Director
Robert Gee Non-Executive Director
Debbie Fullarton Chief Financial Officer
Matt Crowe Chief Operating Officer
ASX:DRE 3
Jessamyn Lyons Company Secretary
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Company Snapshot
Capital Structure
ASX Code DRE
Share Price (12/02/2024)(12/02/2024) $0.019
Shares on Issue 3,479M
Market Cap ~$66.1M
Cash (31/12/2023 + R&D Rebate)(31/12/2023 + R&D Rebate) ~$5.0M
Unlisted Securities (various strike prices)(various strike prices) 83.7M
Liquidity (90-day average)(90-day average) ~$0.1M / day
Board and Management Cash Investment ~$6,200,000
Board & Management
Paul Chapman Non-Executive Chairman
Dean Tuck Managing Director
Philip Crutchfield Non-Executive Director
Robert Gee Non-Executive Director
Debbie Fullarton Chief Financial Officer
Matt Crowe Chief Operating Officer
ASX:DRE 3
Jessamyn Lyons Company Secretary
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Mangaroon REEs DRE 100% Ownership

ASX:DRE

dreadnoughtresources.com.au

Mangaroon REEs

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Long life of mine potential

• 40.82Mt @ 1.03% TREO with 87% of the Yin Ironstone Resource (29.98Mt @ 1.04% TREO) in the Measured and Indicated category.

World’s top mining jurisdiction

• Western Australia

Globally significant critical minerals province

• Rare Earths, Niobium, Phosphate, Titanium, Scandium, Nickel, Copper, Lithium

MREC conversion test work underway

• Vital commercialisation step for midstream partners

Significant predevelopment work complete

• On hold waiting for rare earth sentiment to

improve

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Yin Ironstones and Gifford Creek Carbonatites

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Yin REE Ironstones

• High NdPr, outcropping at surface

• Resource only covers ~10% of 43km long ironstone strike

Gifford Creek Carbonatite

• Multiple pulses of high-grade Rare Earths, Niobium, Phosphate, Titanium and Scandium

• Only ~25% of carbonatite tested with first pass drilling

Upcoming Catalysts

• ANSTO MREC Test work

• Gifford Creek Carbonatite Target Definition

Next Steps

• Slow down work while depressed REE market

• Continue project de-risking

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1. Central Yilgarn Gold

• T1 – Viper

• T2 – Honey, Leghorn

• • T6 – Chicken Little

• T11, T18, T21

2. Mangaroon Gold • SoM Gold Camp

3. Tarraji-Yampi Cu-Au • Orion Cu-Au Camp

• Grants Cu-Au Camp

4. Mangaroon Ni-Cu-PGE • Money Intrusion (JV)

Life Changing Opportunities

5. Mangaroon Rare Earths

• Return of market sentiment

• • Yin Ironstones

• Gifford Creek Carbonatites

ASX:DRE

dreadnoughtresources.com.au

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Central Yilgarn Gold DRE: 100% Ownership

ASX:DRE

dreadnoughtresources.com.au

Central Yilgarn Gold

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What is Central Yilgarn?

• ~1,400km2 covering ~150km strike over four greenstone belts in the Yilgarn

• Significant gold, copper, nickel and lithium pegmatite

• potential

Why are we here?

• Bermuda triangle of the Yilgarn

• No tracks, no water, no support = limited prospecting

• Previous exploration dominated by iron ore explorers

The Opportunity

• Major discovery in a consolidated, unloved greenstone belt terrain in the world's top mining jurisdiction.

• Gruyere

• Hemi

• Tropicana

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Central Yilgarn Gold

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Priority Focus for 2024

• Walk up drill targets

• Define additional targets

Upcoming Catalysts

• Commencement of RC drilling March/April 2024

• T1: Viper

• T2: Honey, Leghorn

• T6: Chicken Little, Megatron

Next Steps

• Boots on ground March 2024

• Mapping, and surface sampling

• March 2024

• RC Drilling at T1, T2, T6

• March / April 2024

• AC Drilling at T21

• Mid-year 2024

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Leghorn and Honey

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Leghorn

• ~3,500m x 300m Au-As-Bi-Mo-Te-W anomaly

• Previous RC intercept:

• BARRC007: 48m @ 0.7g/t Au from 27m including 21m @ 1.3g/t Au from 54m

• Coincident IP anomaly over interpreted structures

Honey

• Historical shallow working produced free gold in altered ultramafic rocks – Wattle Dam Analogy (~250kOz @ 10g/t Au)

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Viper

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Walk up drill target

• ~1,500m x 800m Au-As-Sb anomaly

• Previous intercept: BARAC0136: 15m @ 1.5g/t Au from 12m including

• 3m @ 6.7g/t Au from 12m

• Coincident IP and DHEM anomaly over interpreted structurally complex and non-outcropping BIF horizon

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Mangaroon Au DRE: 100% Ownership

ASX:DRE

dreadnoughtresources.com.au

Mangaroon Gold

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What is Mangaroon?

• ~5,000km2 covering the Mangaroon Zone within the Gascoyne Proterozoic Mobile Belt

• Significant intrusion related and orogenic gold, potential

Why are we here?

• Unloved history with early exploration hindered by lack of infrastructure and investment

• Proterozoic Mobile Belts contain a variety of attractive mineralisation styles

• Mineralisation sticking out of the ground.

The Opportunity

• Major discovery in a consolidated, unloved terrain in a one of the world's top mining jurisdictions.

• Tintina Gold Belt – Pogo, Dublin Gulch

• Charters Towers Province – Mt Leyshon

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Mangaroon Gold – Star of Mangaroon

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Star of Mangaroon

• Mined by Pastoralists 1960s

• Limited exploration in the 1980s/1990s

• MA10: 4m @ 26.0g/t Au fr 9m

• SMC07: 4m @ 18.7 g/t Au fr 8m

• Recent drilling by Dreadnought includes:

• SOMRC004: 2m @ 59.0 g/t Au fr 16m

• SOMRC005: 7m @ 23.0 g/t Au fr 53m

• SOMRC006: 8m @ 15.5 g/t Au fr 89m

• No deep drilling, and no drilling along the mineralised trend including at the historically mined Popeye with rock chips including

• RNLYD048: 30g/t Au, 552g/t Ag

• MMNAU001: 20g/t Au, 413g/t Ag

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Mangaroon Gold – Camp Scale Opportunities

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Star of Mangaroon Camp Scale Prospect

• Expanding 15km x 10km camp scale opportunity

• First modern exploration within this consolidated field has already yielded over a dozen new targets including Tiger, which is stronger and larger than the Star.

Upcoming Catalysts

• Regional stream sediment sampling

• Camp scale prospect generation

Next Steps

• Detailed mapping surface sampling to generate and define targets across the SoM and new camp scale prospects

• RC drilling of historical workings

• May/June 2024

• RC drilling of newly defined targets

• July/August 2024

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Tarraji-Yampi Cu-Au (80%, 100%) Ni-Cu-PGEs (100%) dreadnoughtresources.com.au

ASX:DRE

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Tarraji-Yampi Cu-Au (Ni-Cu-PGE)

What is Tarraji-Yampi?

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• ~485km2 covering the Yampi Fold and Thrust Belt in the Kimberley Region of Western Australia.

• Contains the Orion Cu-Au VMS discovery

• Contains historical workings on Cu-Au epithermal veins at Grant’s

Why are we here?

• Off-limits to exploration since 1978

• Unexplored, no modern exploration

• Mineralisation sticking out of the ground

• Along strike from Merlin/Double Magic and Dog Leg Ni-Cu-PGE Discoveries

The Opportunity

• Additional Cu-Au massive sulphide discoveries – Degrussa, Windy Craggy

• High grade Epithermal discoveries similar to Grants (Cu-Au) and Rough Triangle (Ag-Bi-Sb).

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Tarraji-Yampi Cu-Ag-Au-Co

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Orion Discovery - 2021

• KMRC022: 16m @ 2.2% Cu, 38.7gt Ag, 6.6g/t Au, 0.4% Co

• Confirmed over 250m strike, to a depth of ~150m

• Geophysics shows it down to 500m

• Part of an emerging Cu-Au VMS Camp

Upcoming Catalysts

• Results from RC and diamond drilling completed in 2023

• Geophysical and geological review

Next Steps

• IP Surveys to generate epithermal targets for testing

• June/July

• RC/DD drilling of remaining untested Orion look-a-likes, including any off-hole conductors and new targets from the IP Survey

• August/September

• Assess Ni-Cu-PGE potential along strike from the Dog Leg Discovery

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Other Opportunities Mangaroon Ni -Cu-PGE: FQM JV Bresnahan U, Au -Ag, HREEs

ASX:DRE

dreadnoughtresources.com.au

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Mangaroon Ni-Cu-PGE (FQM JV) and
Bresnahan U HREE Au-A
, , g
Orion Discovery 2021
Mangaroon Ni-Cu-PGE (FQM JV) Bresnahan U, HREE, Au-Ag
• ~50km long prospective Money Intrusion • 4,700 km [2] , 100% owned, on the doorstep of the Pilbara.
• • Proven Uranium mineralisation with extensive and detailed geophysics
High tenor massive sulphide potential confirmed REYRC013:
supporting multiple walk-up targets defined by major uranium companies
23m @ 0.5% Ni, 0.5% Cu, fr 36m incl.
including Cameco and Vale.
2m @ 3.3% Ni, 2.9% Cu • Proven HREE mineralisation with extensive and detailed geophysics
• Geophysical signature confirmed (IP and EM) supporting target generation and definition work.
• Halfway through a drilling and geophysics program • Proven Au-Ag-Sb mineralisation along same crustal scale structures as
commenced in 2023 Paulsen’s, and Mount Olympus.
Commercial Opportunity - Sale, Partnership, Spin Out
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What can we expect for 2024?

ASX:DRE

dreadnoughtresources.com.au

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Plans for 2024
Major, High-Grade Gold Discoveries at Central Yilgarn and
Mangaroon
➢ Drilling at Central Yilgarn to commence March/April 2024
➢ Drilling at Mangaroon to commence May/June 2024
➢ Ongoing target generation and definition work from March
Continue to advance the REEs in the background
➢ Waiting for improved market conditions
Unfinished Business at Tarraji-Yampi
➢ Finish the Cu-Au Orion look-a-like drill program
➢ Generate and test Cu-Au epithermal targets (Grant’s look-a-likes)
➢ Generate and define Ni-Cu-PGE targets
Continue Money Intrusion Ni-Cu-PGE Programs
➢ Finish drilling and geophysical surveys
Commercialise Bresnahan
➢ Sale, partnership or spinout
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Take Away Message

Strong news flow throughout 2024

• Average >1 ASX announcement / week

Track record of delivering discoveries

• Yin REE ironstone complex

• Gifford Creek REE-Nb carbonatites

• Orion Cu-Au massive sulphide

• Money Intrusion Ni-Cu-PGEs

Poised to deliver additional discoveries in 2024

• Mangaroon Au (100%)

• Central Yilgarn Au (100%)

• Kimberley Cu-Au (100%)

• Mangaroon Ni-Cu-PGE (FQM Earn-in/ JV)

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

• $6.2M invested to date

• ~15% Board and management ownership

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ASX:DRE Dreadnought Resources Ltd

dreadnoughtresources.com.au

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