DREADNOUGHT RESOURCES LTD — M&A Activity 2018

Nov 6, 2018

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ACQUISITION OF IRONRINGER RESOURCES

~~Highlights~~

• Yampi project 95kms north-east of Derby, in the west Kimberley

• Multiple compelling high priority nickel-copper-cobalt targets defined

• – High grade copper-gold mineralisation confirmed in recent rock chip sampling

• Drilling program targeting VTEM anomalies planned for early 2019

• Rocky Dam gold project 55km east of Kalgoorlie

• Located adjacent to Aruma Resources’ Slate Dam project

• Bedrock gold mineralisation defined by previous shallow RAB drilling

• Rocky Dam also hosts large body of massive pyrite mineralisation

• Discovered in 1971 by Swiss Aluminium

• Potential for commercial pyrite production

High priority targets ready to drill in early 2019

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  Tychean Resources Limited Iron Ringer Acquisition November 2018

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~~Corporate Summary~~

Capital Structure Shares on Issue[1] 577,156,607 Market Cap (at $0.004 per share) $2.3M Cash (at 30 Sep 18) $0.18M 12 Month Trading Range $0.009 - $0.003 1Prior to transaction

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Trading History
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$0.001 1
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Volume Share Price
Millions
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Board Structure

Chairman Duncan Gordon Non-Executive Director Ian Gordon Non-Executive Director Paul Payne

Register Analysis

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6.1% 5.3%
4.6%
Charmaine Linda Lobo
Sarah McAlpine
Ian Gordon
Other Shareholders
84.0%
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  Tychean Resources Limited Iron Ringer Acquisition November 2018

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~~Yampi Nickel-Copper-Cobalt~~

• Tenements highly prospective for nickel-coppercobalt mineralisation

• Area historically underexplored, with no drill testing of recently defined high priority targets

• Buxton Resources recently intersected substantial massive sulphides at adjacent Double Magic prospect

• Recent VTEM survey carried out by Rio Tinto in 2015 provides enhanced ability to generate and prioritise targets

• Five high priority targets ready for drill testing in 2019

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Geology Image showing Ruins Dolerite (light blue), within Yampi tenements (yellow outline)

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  Tychean Resources Limited Iron Ringer Acquisition November 2018

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~~Yampi Nickel-Copper-Cobalt~~

• Ruins Dolerite very similar in age and composition to rocks that host the Savannah Nickel Project

• Drill targets generated through coincident magnetic, EM anomalies located within the Ruins Dolerite

• 5 high priority targets, and multiple additional targets defined and ready for drill testing in early 2019

Example of coincident magnetic (left), EM (centre) anomalies within Ruins Dolerite (right), utilised to generate exploration targets

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Target list ranked by priority

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  Tychean Resources Limited Iron Ringer Acquisition November 2018

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~~Yampi Copper-Gold~~

• Exploration by including drilling by WMC in the 1950’s intersected copper

• mineralisation:

• Recent reconnaissance sampling carried out in 2013 further defines drill targets at Grant’s Find and Wilson’s Reward

• Gossans and historic small-scale workings extend for over 13kms strike

• These will be followed up early in the 2019 field season

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  Tychean Resources Limited Iron Ringer Acquisition November 2018

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~~Rocky Dam Gold~~

• Located adjacent to Aruma Resources’ Slate Dam Project

• Previous drilling has identified gold mineralisation within the tenement, with follow-up exploration planned in 2019

• Anomalous gold mineralisation defined along fault zones of 50-100m width by 700m length and open ended

• Drill targets identified where NE trending East Fault and Mark’s Fault may intersect the Rocky Dam pyrite horizon

Red polygons indicate broad targets

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  Tychean Resources Limited Iron Ringer Acquisition November 2018

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~~Rocky Dam Pyrite~~

• Rocky Dam pyrite deposit identified by Swiss Aluminium in 1971

• Pyrite able to be utilised in the production of sulfuric acid, a key input in the process required to leach nickel laterite to produce nickel sulphate

• Potential by-product credits with Zn, Cu, Fe, Ni, Co & Au

• Deposit able to be updated to JORC 2012 compliant resource with limited drilling

Outcropping pyrite mineralisation at the Rocky Dam pyrite deposit

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  Tychean Resources Limited Iron Ringer Acquisition November 2018

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~~Transaction Terms~~

• Tychean Resources Limited has agreed to acquire 100% of the shares in Iron Ringer Resources Pty Ltd, a private company associated with Mr Paul Chapman and Mr David Chapman for the following consideration:

• 350m ordinary shares in Tychean Resources Limited

• 50m, 5 year options exercisable at 1 cent per share

• $70,000 in cash

• Paul Chapman and David Chapman to join the Board of Tychean

• The agreement to acquire Iron Ringer Resources Pty Ltd is subject to a number of conditions including:

• Shareholder approval for the issue of the shares to Iron Ringer

• Approval to the transfer of access agreements relating to the Yampi exploration licences

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  Tychean Resources Limited Iron Ringer Acquisition November 2018

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~~Disclaimer~~

Forward Looking Statements

‘This release may include forward looking statements. These forward looking statements are based on management’s expectations and beliefs concerning future events as of the time of the release of this document. Forward looking statements are necessarily subject to risks, uncertainties and other factors, some of which are outside of the control of Tychean Resources Limited, that could cause actual results to differ materially from such statements. Tychean Resources Limited makes no undertaking to subsequently update or revise the forward looking statements made in this release to reflect events or circumstances after the date of this release, except as required by law.’

Competent Person Statement

‘The information in the release that relates to Exploration Results, Mineral Resources, Ore Reserves or targets is based on information compiled by Mr Paul Payne, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Payne is a director and shareholder of the Company and has a minimum of five years relevant experience in the style of mineralisation and type of deposit under consideration and qualifies 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 Payne consents to the inclusion of the information in this report in the form and context in which it appears.’

Refer to TYK ASX announcement dated 7 November 2018 for JORC 2012 report in relation to the information referred to in this release.

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  Tychean Resources Limited Iron Ringer Acquisition November 2018

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