DREADNOUGHT RESOURCES LTD — Regulatory Filings 2007

Aug 29, 2007

ASX Announcement

30th August 2007

The Manager Companies Announcements Office Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000

Eromanga Uranium Limited ACN 119 031 864

62 Beulah Road Norwood South Australia 5067

PO Box 3126 Norwood South Australia 5067

Phone 61 8 8132 7970

Fax 61 8 8132 7999

Email info@eromangauranium.com web www.eromangauranium.com

For further information please contact Kevin Lines on 08 8132 7970.

Further information relating to Eromanga Uranium Limited and its various exploration projects can be found on the Eromanga website:

www.eromangauranium.com

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Kevin Lines who is a Member of the Australasian Institute of Mining and Metallurgy, and who has sufficient experience relevant to the style of mineralisation, the type of deposit under consideration, and the activity he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration results, Mineral Resources and Ore Reserves (the JORC Code). This report is issued in the form and context in which it appears with the written consent of the Competent Person, who is Managing Director of the Company.

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BILLA KALINA DRILLING
COMPLETED
NT
QLD
Illogwa Creek
WA Abminga
Eromanga Basin
Billa Kalina Gravity Anomaly - SA
Drill Testing Kingoonya Marree
(Eromanga earning 50% from GawlerCraton Billa Kalina
Maximus Resources Limited) 500km NSW
Drilling of the second of two deep VIC
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Drilling of the second of two deep diamond drill holes into the Billa Kalina Gravity anomaly has been completed (Figure 1). This hole, BKDDH01, sited over the peak gravity response, intersected basement mafic to intermediate volcanics at a depth of 248 metres and remained in this volcanic sequence to the end of hole at 600 metres. Whilst the basement volcanics were variably veined and altered, with common quartz-hematite veining and minor sulphides, no significant iron oxidecopper-gold mineralisation was intersected. As previously reported the initial hole at Billa Kalina, BKDDH02, was completed at a depth of 597 metres and intersected a basement assemblage that is essentially identical to that in BKDDH01.

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TAS
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?
-29º55'
? BKDDH02BKDDH02BKDDH02BKDDH02BKDDH02 ������� �
BKDDH01BKDDH01BKDDH01BKDDH01BKDDH01 ������� �
0 1 2
kilometres
Fault
136º 136º05'
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Figure 1 Location of Billa Kalina gravity target drill holes.

to identify both Mesozoic and Permian palaeodrainage systems, is currently underway. The company anticipates that the data from this survey will be available for detailed computer processing and imaging within the next two weeks.

Drill core from both holes will now be selectively sampled and analysed with the results to be integrated with geophysical models to refine the company’s geological understanding in the Billa Kalina area. The drilling results do not fully explain the source of the gravity anomaly at Billa Kalina, however the company is satisfied that the target has been adequately tested within acceptable economic limits.

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Mr Kevin Lines Managing Director

The Billa Kalina tenement package remains highly prospective for shallower sandstonehosted uranium mineralisation and a 4000 line/km airborne EM survey, designed

30th August 2007