DREADNOUGHT RESOURCES LTD — Regulatory Filings 2012

Oct 16, 2012

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Exploration Office Ware h ouse I, 5 Bu t ler Blvd Bu r bridgeBusi n essPark Adel a ide Airport SA 5950 Postal Address PO Box 247 E xport Park SA 5950

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Tel: +61 8 8 3 75 3900 Fax: +61 8 8 3 75 3999 www. m onaxminin g .com.au

ABN: 96 110 336 733

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For Imme d iate Relea s e Wednesd a y, 17 Octo b er 2012

ASX RELEASE

Monax Alliance Withdraws from Agreement with ERO Mining

Monax All i ance Pty Ltd (“Monax Alliance”) h as withdr a wn from t h e Non-Bin d ing term s h eet signed wit h ERO Min i ng Ltd (AS X :ERO) ov e r the Nort h ern Gawle r Craton Pr o ject.

Monax Alliance com p leted a d e tailed gra v ity survey over the ‘Welbourn H ill’ target and subseque n t modellin g of the d a ta did not produce a suitable ta r get sugge s tive of a l a rge iron-oxide copper-gol d body.

Gary Ferr i s Managing Director, Monax Mining Ph: (08) 8375 3900 Email: inf o @monaxmining.com. a u

Duncan Gordo n Inv e stor Relati o Ph: 0404 006 4 44

The information in this report that relates to Explor a tion Results, Mi n eral Resources o r Ore Reserves i s based on infor m ation compiled b y Mr G M Ferris, who is a Member of th e Australasian Ins t itute of Mining a n d Metallurgy. Mr Ferris is employ e d full time by the Company as Ma n aging Director and, ha s a minimum of fi v e years relevant experience in the style of minerali s ation and type of deposit under co n sideration and q u alifies as a Competen t Person as defin e d in the 2004 e d ition of the “Aust r alasian Code fo r Reporting of Ex p loration Results, Mineral Resourc e s and Ore Reserves” M r Ferris consent s to the inclusion o f the information in this report in t h e form and conte x t in which it app e ars.

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