DREADNOUGHT RESOURCES LTD — Regulatory Filings 2007

May 9, 2007

"The first six months"

Current status and future directions Kevin Lines Managing Director May 2007

22 march 1990 a bh Corporate snapshot

Inster RICA CONSTRUCTS

Hari Tar

1234 million Major shareholder Maximus Resources (35.4% escrowed for 2 years)

Totakaised * \$14.76 million

\$12.80 million (cash at 31 March 2007)

Current market capitalisation 8 May 2007 - \$77.7 million

The technical team

Mr Stephen Hogan – Exploration Manager Over 20 years exploration experience including uranium. A remote area specialist with proven discovery record

MEROU EVANS - Consulting Geologist Over 30 years exploration experience, former Chief Geologist Australia for Urangesellschaft (the global German Uranium $G$ (our)

Dr Stephen Abbatt - Senior Exploration Geologist 15 years experience, PhD from James Cook University in sedimentary geology

Mr David Wilson - Consultant Geophysicist Perth based consultant with extensive experience in the design and implementation of geophysical approaches in uranium exploration. Former executive of Acclaim Exploration

Location of Projects

IIUM

Lead Projects - Marree

• 3909 so km (oranied) 1870 so km (applications) of contiguous tenements
• Prospective forsendstone hosted uranium (Tertiary and Mesozoic)
• · Similar geographic and geological Sétting to Bayarley deposits
• · Eromanga earning 70% as part of the Eromanga Basin JV with Maximus

IIIM

i.

Lead Projects - Billa Kalina

• 4084 se km (granted) between Olympic Danard Prominent Fill
• A Prospective for Iron Oxforded order Gold Uranium (IOGG)
• 7 km x 2km gravity anomaly defined
• · Secondary targets for sandstone hosted uranium (Mesozoic and Permian)
• · Eromanga earning 50% via Billa Kalina JV WHAWEXIAUS

III IM

8

Marree Project

Andrewski programmatici i programmatici i programmatici i programmatici i programmatici i programmatici i pr KA MARADI KATA KALE

• 4000 line/km Airborne EM survey completed using REPTEM The first company
• · Previously unknown palaeodrainage delineated
• · Surface radiometric anomalies return up to 85 ppm U in source rocks
• · Over 100km of deeper channel systems to be drill tested
• · Aboriginal Heritage dearance process progressing Satisfactorily

Marree Project

EutraDirections

• · Drilling to commence within 4-5 weeks (dependent on clearances)
• A Initial program of approximately 50 noles planned
• · Determine depth to the base of the drainage (EM bottoms at 75 m)
• Systematic testing to commence at Smarts Bluff then proceed to Marree Palaeodrainage - both down-drainage and against bounding fault
• E Holes to be downhole logged (ERO has own logging truck) with zones of elevated gamma response submitted for analysis

POTENTIAL FORMUTIPLE DEPOSITS
IR NEW URANIUM PROVINCE

Billa Kalina Project

Cuncabians

• · Ground gravity survey completed 2006
• · Delineated 7km x 2km gravity anomaly entirely within ERO Landa (ala
• · Similar size and/or amplitude as heanomaliesarcarre ogicena and Prominent Hill
• · All'Aboriginal Clearances are in blace
• · Drilling contract signed for commencement in early June 2007

EROMANGA URANIL

Billa Kalina Project

EROMANGA URANIUM

MARINE CAPITAL AND STATE

• · Two deep diamond holes of anded to a depth of approx. BOOT
• First hole will test the peak gravity response with the second designed to intersecttive flank of Hite anomely

Billa Kalina Project

FROMANGA LIRANII

Miture.Directions

• · Water bore to be completed 2nd week of May 2007
• · Drilling of both diamond holes will take approx. 4-5 weeks (subject to weather & rig performance)
• · Analytical results would take a further 3-4 weeks
• 4000 line/km Airborne EM survey starting 9th May 2007 OPRORTUNITY FOR MAJOR EARLY SUCCESS

PROJECT PIPELINE - Abminga

• F Takeeting sandstone hosted uranium.
• Over 7000 sq km of contiguous tenements (6966 sq km granted) along margins of the Eromanga Basin.
• Affborne EM survey, of over 7000 line/km, contracted to start in late May (6 weeks to complete)
• A Limited exploration in 1970-80's, by BHP and Afmeco, identified buried Mesozoic palaeodrainages with uranium values to 190ppm.

A High uranium granites, within the Musgrave Province, and major structures in the basement are excellent uranium sources.

· Potential for the discovery of multiple drainage systems along 230km of basin marqin.

III IM

PROJECT PIPELINE - Kingoonya

• · Targeting sandstone hosted uranium and Unconformity style deposits.
• · Over 4000 so km of granted tenements in two large blocks.
• Airborne EM survey, of over 4000 line/km, to start in lâte July/August.
• · Same uranium enriched source rocks as the Kingoonya palaeodrainage, host to the Warrior and Ealbara deposit. ERO targeting older Mesozoic channels.
• · Potential for unconformity style uranium mineralisation at the base of uplifted Pandura Formation

IIIIM

Exploration timetable

EROMANGA URANIUM

MARKETTE Graylty Anomaly Drilling Analytical results Atriborne EM survey

TV 144 Aboriginal clearance Mud drilling

Abmingá Alifoorne EMsurvey Aboriginal clearances DrilTesting

Kingoonya Afrborne EM survey

INVESTØR PRESENTATION - MAY 2007

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Summary

FROMANGA

• · Results of the "The first six months" have delighted the Company
• · Major new palaeodrainage identified at the Marree Project associated urantum anomalism
• · Exploration approach has been validated
• · Opportunity to leverage off early successes with drilling of the Billa Kalina gravity anomaly and major airborne EM surveys at Billa Kalina, Abminga and Kingoonya in 2007

please visit our web site at

www.eromangauranium.com