DREADNOUGHT RESOURCES LTD — Regulatory Filings 2009

Aug 12, 2009

ASX Announcement

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13 August 2009

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

GEORGETOWN REGIONAL GOLD EXPLORATION COMMENCES

HIGHLIGHTS

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Georgetown
Gold Project
NT
QLD
WA
SA
NSW
500km
VIC
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Figure 1 Location of the Georgetown Gold Project.

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TAS
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• Identification of priority gold exploration target, at the True Blue prospect, within the recently acquired Georgetown licences.

• Previous exploration in the late 1980’s, involving 33 rock chip samples, averaged 5.9g/t gold with a peak value of 23.1g/t gold.

  • No drilling has ever been undertaken over the five mineralised zones previously identified.

  • The True Blue prospect is the first of seven potential primary gold sources, feeding the alluvial gold deposits at Georgetown, to undergo exploration by the Company.

• Eromanga has immediately initiated an exploration

• program to advance the True Blue prospect towards drill

• status by the end of the September quarter.

The Board of the Company is pleased to announce the commencement of an exploration program over the True Blue prospect within the Company’s wholly owned Exploration Licence at its Georgetown Gold Project in far north Queensland.

TRUE BLUE PROSPECT

(Eromanga Uranium Ltd 100%)

Project Location

The True Blue Prospect is located within the granted EPM 15995 that was part of the acquisition by the Company of the Georgetown Alluvial Gold Operations in July 2009 (Figure 2). The prospect area is located in the headwaters of a tributary of Tabletop Creek and contains a cluster of pits and

shallow workings associated with prospecting during the 1930’s. Access to the area is excellent with the Company’s mine camp and workshop located within 2 kilometres of the prospect.

Previous Exploration

Exploration in the late 1980’s mapped numerous gold and silver workings in the True Blue area (Figure 3). The workings occur within Proterozoic metasediments (graphitic shales, phyllites and minor quartzite) which have been intruded by later rhyolite dykes over an area of 700m by 400m.

Geological mapping revealed five main mineralised zones each of up to 200m in strike length composed of gold bearing quartz

Eromanga Uranium Limited ACN 119 031 864 62 Beulah Road Norwood South Australia 5067

Phone 61 8 8132 7970 Fax 61 8 8132 7999

PO Box 3126 Norwood South Australia 5067

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

Eromanga Uranium Limited 1

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EPM15995
Exploration Permit (Minerals)
Mining Lease ML6721
ML30148
ML30091
ML30084
ML30017
ML30019
ML3498
- 18º30' ML3487
ML30122
ML30124 ML30018
See Figure 3 ML3488
0 2 km
EPM15995
Tabletop Creek
ML3539
143º20' 143º30'
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Figure 2 Location of mining leases and granted Exploration Licence EPM 15995.

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Costean Grade Gold gm/BCM 'True Blue''True Blue''True Blue''True Blue' -18º29'
>1 ProspectProspectProspectProspect
0.68
0.8 to 1
0.6 to 0.8
0.4 to 0.6 MMM M MMM M 0.65
0.2 to 0.4 MMM M 0.61
MMM M
0.51
MMM M 0.60
MMM M MMM M
0.94
MMM M 0.56 0.59
0.55
1.0 MMM M 0.38
0.48
1.10
EPM15995
1.27
-18º30'
1.07
1.20
Mining Lease
Exploration Permit - Minerals
0.61
MMM M Historic workings
0 500 m Costean (representative : Not to scale)
1.27 Grade Gold gm/BCM (Bank Cubic Metres)
ML30124
143º25' 143º26' 143º27'
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Figure 3 Location of True Blue Prospect.

Eromanga Uranium Limited 2

veins within narrow 1-2m wide shear zones. These veins appear to be fault controlled and thicken where the faults change orientation.

A program of surface rock chip sampling was completed over selected sections of each of the five main mineralised zones in the True Blue prospect area. The average grade of the 33 rock chip samples collected was 5.9g/t gold with 24 of the 33 samples returning values in excess of 1g/t gold, and a best result of 23.1g/t gold*.

No drilling has been undertaken to test these very positive surface sampling results.

Current Exploration Program

The Company has commenced a program of detailed mapping and confirmatory surface sampling with the intention of fully delineating the potential of the prospect area and identifying targets for future drill testing by the end of the September quarter.

The True Blue prospect is the first of what the Company anticipates will be a number of hard-rock gold projects on our Georgetown leases. Analysis of the alluvial deposits within the Company’s mining leases indicates there are at least 7 separate primary gold sources feeding into the drainage network.

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Mr Kevin Lines

Managing Director

13 August 2009

* (The information available to Eromanga Uranium Ltd does not include a description of the analytical method used in obtaining the quoted gold content nor the detection limits of that analytical method. The analysis was performed by Australian Laboratory Services Pty Ltd (ALS)).

For further information please contact Eromanga Uranium on 08 8132 7970 or Investor Relations – Mr Duncan Gordon on 0404 006 444 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.

Eromanga Uranium Limited 3