DREADNOUGHT RESOURCES LTD — Regulatory Filings 2012

Sep 4, 2012

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ASX ANNOUNCEMENT

5 September 2012

Notice of waiver regarding quoted options (“EROO”)

ERO Mining Limited (the “Company”) advises that it has been granted a waiver from ASX listing rule 6.24 to the extent necessary to permit the Company not to send the notices required by paragraph 6.1 of Appendix 6A in respect of 86,813,229 quoted options exercisable at six cents ($0.06) each and expiring on 28 September 2012 (EROO). Accordingly, option expiry notices will not be sent to option holders.

The options may be exercised in whole or in part by completing an option exercise form and delivering it together with payment of six cents ($0.06) for each option exercised to Computershare Investor Services Pty Ltd, Level 5, 115 Grenfell Street, Adelaide SA 5000 (GPO Box 1903, Adelaide SA 5001) so that it is received no later than 5.00 pm on Friday, 28 September 2012. An option exercise form may be obtained by contacting the Company on (08) 7324 3195 during normal business hours. There is no obligation upon option holders to exercise their options.

In accordance with the ASX listing rules and the waiver granted, the Company provides the following information:

• the number of options to which this notice applies is 86,813,229;

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• the exercise price of the options is six cents ($0.06) per option;

• each option exercised entitles the holder to receive one fully paid ordinary share in the Company. If all options were exercised, 86,813,229 fully paid ordinary shares would be issued;

• official quotation of the options on ASX will cease on Friday, 21 September 2012;

• the due date for payment of the exercise price is 5.00 pm (Adelaide time) on Friday, 28 September 2012;

• options not exercised by 5.00 pm (Adelaide time) on Friday, 28 September 2012 will lapse with no value and no further entitlement will exist;

• no underwriting agreement currently exists in respect of these options;

• the market price of fully paid ordinary shares in the Company on 4 September 2012 (being the last trading day prior to the date of this notice) was $0.005;

• during the three months preceding the date of this notice, the highest market price of fully paid ordinary shares in the Company was $0.005 on 4 September 2012 and the lowest market price was $0.003 on 27 July 2012.

Justin Nelson

Company Secretary

ERO Mining Limited ACN 119 031 864 | Level 3, 100 Pirie Street, Adelaide SA 5000 | PO Box 3126 Norwood South Australia 5067 Phone 61 8 7324 3195| Fax 61 8 8312 5576| Email info@eromining.com | web www.eromining.com