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6 June 2019

GROUND EM SURVEY LIGHTS UP STRONG CONDUCTOR AT THE TEXAS NI-CU-PGE TARGET

HIGHLIGHTS

Fixed-Loop Electro-Magnetic (“FLEM”) survey over the Texas Ni-Cu-PGE Magmatic Massive Sulphide Target lights up a strong conductor commencing at a depth of 50m below surface
The large, shallowly dipping and north plunging EM plate remains open to the north and at depth
The EM plate, being discordant with stratigraphy and associated with a strong magnetic anomaly, is a high priority Ni-Cu-PGE massive sulphide drill target
Drilling approvals well advanced with drilling to commence in September 2019 quarter

Dreadnought Resources Ltd (“Dreadnought” or “the Company”) is pleased to announce the results of the ground FLEM survey at the Tarraji-Yampi Ni-Cu-Au Project (“Tarraji” or “the Project”) in the West Kimberley region of Western Australia. The FLEM survey has defined a large, strong, shallowly dipping and north plunging conductor within a thick outcropping Ruins Dolerite occurrence (see Figure 1 and 2). The Ruins Dolerite is highly perspective for magmatic Ni-Cu-PGE massive sulphide deposits.

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Figure 1: Interpreted Cross Section through the Texas target showing the EM plate and lithology.

Dreadnought Managing Director, Dean Tuck, commented “Defining a strong and shallow EM plate at the Texas Ni-Cu-PGE Target hosted within the Ruins Dolerite is exciting. When combined with the Chianti VMS Target, and the outcropping Proterozoic Cu-Au targets, Tarraji-Yampi is shaping up as a very exciting project with a lot to offer. Along with Chianti, Texas remains a high priority drill target and we are looking forward to drill testing the EM plate in the September 2019 quarter.”

Dreadnought Resources Limited DIRECTORS CORPORATE STRUCTURE Suite 5, 16 Nicholson Road Paul Chapman Non-Executive Chairman ASX Code: DRE Subiaco WA 6008 Dean Tuck Managing Director Shares on Issue: 1,110M T: +61 (0) 428 824 343 David Chapman Non-Executive Director Market Cap: $4.4M E: [email protected] Ian Gordon Non-Executive Director Share Price $0.004 W: www.dreadnoughtresources.com.au Paul Payne Non-Executive Director Cash (1/4/19): $0.35M

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Background on the Texas Ni-Cu-PGE Magmatic Sulphide Target

The Texas Ni-Cu-PGE Magmatic Sulphide Target is similar in style to Buxton and IGO’s Double Magic project (50kms to the SE) and Panoramic’s Savannah Ni-Cu-Co mine in the East Kimberley. In 2015, an airborne VTEM survey was flown resulting in the identification of the Texas Target as a coincident airborne EM and magnetic anomaly hosted within a thick outcropping Ruins Dolerite sequence (see Figure 2).

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Figure 2: Three images showing the magnetics (L), airborne EM (C), and Ruins Dolerite (R) at the Texas Target.

Importantly, surface sampling and mapping has confirmed outcropping fine grained to porphyritic Ruins Dolerite with local brecciation and disseminated sulphides.

The EM plate is roughly 550m x 280m with a high conductivity of 1,300 siemens. The EM plate appears to have a shallow easterly dip and northerly plunge and remains open to the north and at depth. The EM plate is associated with a thick outcropping sequence of Ruins Dolerite, a strong discreet magnetic anomaly and is discordant to local stratigraphy making the Texas Target a high priority drill target (see Figure 3).

Background on the Fuso Target

The Fuso Target was also defined by the 2015 VTEM survey which identified a large, strong magnetic anomaly over an area of recent alluvial and colluvial cover with nearby outcropping Ruins Dolerite. Based on the results of the FLEM survey, Fuso is considered to be an attractive Proterozoic Cu-Au target associated with magnetite alteration. Further work will be undertaken to define a drill target at Fuso.

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Figure 3: Maps showing the location of Tarraji-Yampi in relation to other Proterozoic Mobile Belts within Western Australia. Location of Dreadnought’s priority targets also shown within the Tarraji-Yampi Project.

Upcoming Results:

Field operations from the initial reconnaissance sampling and ground geophysics survey have now been completed. Over 250 rock chips samples were collected from 12 prospects. FLEM surveys were carried out at Chianti, Texas and Fuso. All FLEM results have now been released, rock chip assay results will be announced during June 2019. Updates will be provided as drilling approvals are received and further approval related survey work is completed.

Concluding Comments

Dreadnought is extremely pleased to have defined EM plates at Texas and Chianti. Dreadnought looks forward to announcing the results of reconnaissance rock chip sampling as results are received.

We would like to acknowledge the assistance of our stakeholders including the Department of Defence, the Dambimangari Aboriginal Corporation and our shareholders for bringing us to this point.

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Planned Activities

Dreadnought has planned an aggressive exploration strategy for the remainder of 2019 including:

Released: FLEM results over Chianti
Released: Results of initial mapping and rock chipping
Released: FLEM results over Texas
Released: FLEM results over Fuso
Early June 2019: Results from larger surface sampling campaign
Early June 2019: Corporate Roadshow
Mid-June 2019: Identification of FLEM conductors and refined drill targets
June/July 2019: Receive final approvals for drilling
July/August 2019: Commence diamond drilling of priority targets
August/September 2019: Drilling assay results
August/September 2019: Corporate Roadshow
September/October2019: Follow up Tarraji drilling, pending results
October-December 2019: Rocky Dam initial field program to commence

Dreadnought looks forward to reporting a strong news flow for the remainder of 2019.

Competent Person’s Statement

The information in this announcement that relates to geology and exploration results and planning was compiled by Mr. Dean Tuck, who is a Member of the AIG and a director and shareholder of the Company. Mr. Tuck has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Tuck consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

The Company confirms that it is not aware of any new information or data that materially affects the information in the original reports, and that the forma and context in which the Competent Persons findings are presented have not been materially modified from the original reports.

Dreadnought Resources Limited Suite 5, 16 Nicholson Road Subiaco WA 6008 T: +61 (0) 428 824 343 E: [email protected] W: www.dreadnoughtresources.com.au

DIRECTORS CORPORATE STRUCTURE Paul Chapman Non-Executive Chairman ASX Code: DRE Dean Tuck Managing Director Shares on Issue: 1,110M David Chapman Non-Executive Director Market Cap: $4.4M Ian Gordon Non-Executive Director Share Price $0.004 Paul Payne Non-Executive Director Cash (1/4/19): $0.35M

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INVESTMENT HIGHLIGHTS

Tarraji-Yampi Ni-Cu-Au Project

Dreadnought controls over 870 sq kms of the highly prospective West Kimberley located only 85 kms from Derby, Western Australia. The project area was locked up as a Defence reserve for >40 years and has only recently been opened up under the Commonwealth Government’s coexistence regime that balances Defence needs with the requirements of others including Aboriginal groups, the resources industry, pastoralists and State Governments. Defence usage in that period has been light with no unexploded ordnance mapped in the area. The area has seen minimal exploration since the 1950s and has numerous pre-WW1 workings and outcropping mineralisation.

Three styles of mineralisation occur at Tarraji including: volcanogenic massive sulphide (“VMS”); Proterozoic Cu-Au; and magmatic sulphide Ni-Cu-PGE (see Figure 4). Within these mineralisation styles, numerous high priority Ni-Cu-Au targets have been identified from recent VTEM surveys, historical geochemical sampling and outcropping mineralisation. Other highlights include:

area has seen minimal exploration since the 1950s;
large scale Ni-Cu-Au opportunity with numerous, high priority nickel-coppergold targets identified from 2015 airborne VTEM survey and supported by 1960’s geochemical sampling; and
• successful EIS grant of $120,000 awarded via independent, competitive process; and

Rocky Dam Au:

gold and base metal prospectivity defined by previous exploration; and
surrounded by Riversgold; Northern Star; Sumitomo and Aruma with gold targets identified by CRA and Delta Gold.

Dreadnought Resources Limited DIRECTORS Suite 5, 16 Nicholson Road Paul Chapman Non-Executive Chairman Subiaco WA 6008 Dean Tuck Managing Director T: +61 (0) 428 824 343 David Chapman Non-Executive Director E: [email protected] Ian Gordon Non-Executive Director W: www.dreadnoughtresources.com.au Paul Payne Non-Executive Director

CORPORATE STRUCTURE ASX Code: DRE Shares on Issue: 1,110M Market Cap: $4.4M Share Price $0.004 Cash (1/4/19): $0.35M

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JORC Code, 2012 Edition – Table 1 report template Section 1 Sampling Techniques and Data

JORC TABLE 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria		JORC Code explanation		Commentary
Sampling	•	Nature and quality of sampling (e.g. cut channels,	Current Exploration
techniques	•	random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure	• • •	Fixed Loop EM (FLEM) surveyed at 25m and 50m station spacing with 50m and 100m spaced lines. FLEM stations were planned perpendicular to geological strike of target horizons. Rock Chips were collected by Dreadnought staff
		sample representivity and the appropriate calibration of any measurement tools or systems used.		and submitted for analysis. Rock chips are random, subject to bias and often unrepresentative for the typical widths required
	• •	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	• •	for economic consideration. They are by nature difficult to duplicate with any acceptable form of precision or accuracy. Rock chips have been collected by Dreadnought to assist in characterising different lithologies, alterations and expressions of mineralisation. In many instances, several rock chips were collected from a single location to assist with characterising and understanding the different lithologies, alterations and expressions of mineralisation present at the locality. Rock chips were submitted to ALS Laboratories
				in Perth for determination of Au, Pt and Pd by
				PGM-ICP24 and multiple (48) elements by ME-
				MS61
			Historical Exploration
			•	WMC completed diamond drilling at Yampi in
				the 1950s. The drilling intersected copper
				mineralisation, but sampling techniques are not
				known.
			•	ACM completed percussion and diamond drilling
				at Chianti in the 1970s. The drilling intersected
				base metal mineralisation, but sampling
				techniques are not known.
			•	Versatile time domain electromagnetic (VTEM)
				and aeromagnetic data acquired for Rio Tinto
				Exploration in October 2015 were flown by UTS
				Geophysics using an A-star 350 B3 helicopter
				with a VTEM max receiver and transmitter and
				Geometrics caesium vapour magnetic sensor.
Drilling	•	Drill type (e.g. core, reverse circulation, open-hole	Current Exploration
techniques		hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or	•	No drilling undertaken.
		standard tube, depth of diamond tails, face-	Historical Exploration
		sampling bit or other type, whether core is oriented

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Criteria		JORC Code explanation		Commentary
		and if so, by what method, etc.).	•	Diamond drilling at Grants and Wilsons,
				percussion and diamond drilling at Chianti.
Drill sample	•	Method of recording and assessing core and chip	Current Exploration
recovery	•	sample recoveries and results assessed. Measures taken to maximise sample recovery and	•	No drilling undertaken.
		ensure representative nature of the samples.	Historical Exploration
	•	Whether a relationship exists between sample recovery and grade and whether sample bias may	•	Not known.
		have occurred due to preferential loss/gain of
		fine/coarse material.
Logging	•	Whether core and chip samples have been	Current Exploration
		geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical	•	Basic mineralogy, textures and lithology logged in the field.
		studies.	Historical Exploration
	•	Whether logging is qualitative or quantitative in
		nature. Core (or costean, channel, etc.)	•	Not known.
		photography.
	•	The total length and percentage of the relevant
		intersections logged.
Sub-sampling	•	If core, whether cut or sawn and whether quarter,	Current Exploration
techniques and sample preparation	•	half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.	•	Entire rock chips were submitted to the lab for sample prep and analysis.
	•	For all sample types, the nature, quality and	Historical Exploration
		appropriateness of the sample preparation technique.	•	Not known.
	•	Quality control procedures adopted for all sub-
		sampling stages to maximise representivity of
		samples.
	•	Measures taken to ensure that the sampling is
		representative of the in situ material collected,
		including for instance results for field
		duplicate/second-half sampling.
	•	Whether sample sizes are appropriate to the grain
		size of the material being sampled.
Quality of assay	•	The nature, quality and appropriateness of the	Current Exploration
data and laboratory tests		assaying and laboratory procedures used and whether the technique is considered partial or total.	•	The Company commissioned Southern Geoscience Consultants (SGC) of Perth to
	• •	For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	•	supervise the (FLEM) surveys that were undertaken by SGC Niche Acquisitions across the Tarraji-Yampi Project. The geophysical FLEM program parameters were as follows: Contractor:SGC Niche Acquisition Configuration:Fixed-Loop EM (FLEM) Tx Loop size:200 x 300 m Transmitter:TTX2 Receiver:Smartem24 Sensor:Smart Fluxgate
				Line spacing:50 and 100 m
				Line bearing:E/W
				Station spacing:25 and 50 m
				Tx Freq.:2.0833 Hz

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Criteria		JORC Code explanation			Commentary
					Duty cycle:50%
					Current:7 Amp
					Stacks:64
					Reading:minimum 2 repeatable readings
					per station
				•	No assay results reported, no standards,
					duplicates or blanks submitted with rock chips.
				Historical Exploration
				•	Not known.
Verification of	•	The verification of significant intersections by		Current Exploration
sampling and assaying	•	either independent or alternative personnel. The use of twinned holes.	company	•	Geophysical data has been assessed by Southern Geoscience Consultants.
	• •	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data.		• •	Geophysical data was recorded by the Smartem24 and downloaded in the field and emailed to Southern Geoscience Consultants daily. Geophysical data is back up to tape weekly.
				•	Rock chip coordinates and geological
					information is written in field books and
					coordinates and track data saved from hand
					held GPSs used in the field.
				•	Field data is entered into excel spreadsheets to
					be loaded into a database.
				Historical Exploration
				•	No verification of historical drilling has been
					made at this time. There is no core or samples
					preserved on site or in any known storage
					facility. Data procedures are unknown.
Location of data	•	Accuracy and quality of surveys used to	locate drill	Current Exploration
points		holes (collar and down-hole surveys), mine workings and other locations used Resource estimation.	trenches, in Mineral	•	Surface geophysics was positioned with a Garmin 64 hand held GPS which has an
	• •	Specification of the grid system used. Quality and adequacy of topographic control.		•	accuracy of +/- 5m. All rock chip locations were recorded with a Garmin handheld GPS which has an accuracy
					of +/- 5m.
				•	GDA94 MGAz51.
				Historical Exploration
				•	Not known.
Data spacing and	•	Data spacing for reporting of Exploration	Results.	Current Exploration
distribution	•	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation		• •	25m and 50m station spacing and 50m and 1200m line spacing. The geophysical anomalies cross multiple
	•	procedure(s) and classifications applied. Whether sample compositing has been applied.		•	stations and lines and as such the data spacing is sufficient to model the anomalies. The rock chip spacing and distribution is not
					sufficient to establish the degree of geological
					and grade continuity appropriate for a Mineral
					Resource.
				Historical Exploration

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Criteria		JORC Code explanation		Commentary
			•	Historical drilling is not sufficient to establish the
				degree of geological and grade continuity
				appropriate for a Mineral Resource.
Orientation of	•	Whether the orientation of sampling achieves	Current Exploration
data in relation to geological structure	•	unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias,	• • •	FLEM stations were planned perpendicular to geological strike of the target units. The rock chip sampling is by nature highly biased. No drilling was undertaken.
		this should be assessed and reported if material.	Historical Exploration
			•	2015 VTEM data was acquired in three blocks
				on lines orientated 137° (Block A), 164° (Block
				B) and 000° (Block C), slightly oblique to the
				strike of the predominant structural/geological
				trend.
			•	Drilling at Chianti was drilled at 60 degrees to
				the west into a N-S trending and east dipping
				mineralised lode, this drilling is believed to be
				largely perpendicular, but reported thicknesses
				are down hole thicknesses and cannot be
				converted to true thickness based on current
				knowledge.
			•	Grants and Wilsons were drilled at 60 degrees to
				the west into a N-S trending and near vertical
				dipping mineralised lode. This drilling is believed
				to be largely perpendicular, but reported
				thicknesses are down hole thicknesses and
				cannot be converted to true thickness based on
				current knowledge.
Sample security	•	The measures taken to ensure sample security.	Current Exploration
			•	FLEM data was recorded by the Smartem24
				and downloaded in the field and emailed to
				Southern Geoscience Consultants daily and is
				backed up to tape weekly.
			•	All samples were collected, bagged and sealed
				by Dreadnought staff. Sealed sample bags were
				placed into a bulk sample container and
				dispatched from a reputable trucking company
				in Derby to ALS Laboratories in Perth with
				tracking con notes recording dispatch and
				delivery.
			Historical Exploration
			•	Not known.
Audits or reviews	•	The results of any audits or reviews of sampling	Current Exploration
		techniques and data.	•	Geophysical data has been audited and
				reviewed by Southern Geoscience Consultants
			Historical Exploration
			•	No external audits or reviews of sampling
				techniques and data collection have been

Dreadnought Resources Limited	DIRECTORS		CORPORATE STRUCTURE
Suite 5, 16 Nicholson Road	Paul Chapman	Non-Executive Chairman	ASX Code: DRE
Subiaco WA 6008	Dean Tuck	Managing Director	Shares on Issue: 1,110M
T: +61 (0) 428 824 343	David Chapman	Non-Executive Director	Market Cap: $4.4M
E: [email protected]	Ian Gordon	Non-Executive Director	Share Price $0.004
W: www.dreadnoughtresources.com.au	Paul Payne	Non-Executive Director	Cash (1/4/19): $0.35M

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Criteria	JORC Code explanation		Commentary
		undertaken.

Section 2 Reporting of Exploration Results

(Criteria in this section apply to all succeeding sections.)

Criteria			JORC	Code explanation	Code explanation		Commentary
Mineral tenement	•	Type,	reference	name/number,	location and	•	The Tarraji-Yampi Project consists of 3
and land tenure		ownership including agreements or			material issues		granted (E04/2315, E04/2508,
status		with third parties such as joint ventures, partnerships,					E04/2572) and 2 pending exploration
		overriding royalties, native title interests, historical					Licenses (E04/2557, E04/2608)
		sites, wilderness or national park and environmental				•	The Tarraji tenement (E04/2315) is a
		settings.					80/20 JV between IronRinger (Tarraji)
	•	The security of the tenure held			at the time of		Pty Ltd and Whitewater Resources Pty
		reporting along with any known			impediments to		Ltd.
		obtaining a licence to operate in the area.				•	The Yampi Tenements (E04/2508,
							E04/2572, E04/2557, E04/2608) are
							100% owned by IronRinger (Tarraji) Pty
							Ltd
						•	IronRinger (Tarraji) Pty Ltd is a 95%
							ultimately owned subsidiary of
							Dreadnought and ~5% owned by
							Whitewater Pty Ltd.
						•	E04/2315, E04/2508, E04/2572,
							E04/2557 are located within the Yampi
							Sound Training Area (YSTA) which is
							freehold land owned by the
							Commonwealth Government and
							administered by the Department of
							Defence. Being freehold Commonwealth
							Land, there is no Native Title over these
							tenements.
						•	E04/2608 is partly located within the
							YSTA and partly on Vacant Crown Land
							which has Native Title claim by the
							Warra Combined (NNTT Number 2901)
Exploration done	•	Acknowledgment		and appraisal of	exploration by	•	Regional mapping, basic stream
by other parties		other parties.					sediment, soil sampling and limited
							diamond drilling was completed by
							WMC in the 1950s.
						•	Shallow percussion and diamond drilling
							was undertaken by ACM at Chianti in
							the 1970s.
						•	The YSTA was off limits to exploration
							from 1978 until 2013.
Geology	•	Deposit	type, geological setting		and style of	•	The Tarraji-Yampi Project is located
		mineralisation.					within the Hooper Complex which is a
							Proterozoic Mobile Belt in the West
							Kimberley.
						•	The Hooper Complex has known
							occurrences of Cu-Zn-Pb-Ag VMS

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Criteria		JORC Code explanation		Commentary
				mineralisation within the Marboo
				Formation, magmatic Ni-Cu-PGE
				mineralisation in the Ruins Dolerite and
				later stage Proterozoic Cu-Au
				mineralisation associated with
				significant structures and late stage
				intrusions.
Drill hole	•	A summary of all information material to the	Current Exploration
information		understanding of the exploration results including a tabulation of the following information for all Material	•	No drilling reported.
		drill holes:	Historical Exploration
		`o` easting and northing of the drill hole collar
		`o` elevation or RL (Reduced Level – elevation	•	Drilling was completed in the 1950s and
		above sea level in metres) of the drill hole collar		1970s and limited information is
		`o` dip and azimuth of the hole		available.
		`o` down hole length and interception depth	•	Drill collar locations are not visible on
		`o` hole length.		the surface and have not been verified.
	•	If the exclusion of this information is justified on the	•	Locations have been georeferenced
		basis that the information is not Material and this		from historical mapping and drill plans.
		exclusion does not detract from the understanding of	.
		the report, the Competent Person should clearly
		explain why this is the case.
Data aggregation	•	In reporting Exploration Results, weighting averaging	Current Exploration
methods		techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off	•	No drilling reported.
		grades are usually Material and should be stated.	Historical Exploration
	•	Where aggregate intercepts incorporate short lengths
		of high grade results and longer lengths of low grade results, the procedure used for such aggregation	•	Reported mineralised intercepts are from historical reports and sections.
		should be stated and some typical examples of such	•	Historical intercepts appear to be
		aggregations should be shown in detail.		weighted averages, but no information is
	•	The assumptions used for any reporting of metal equivalent values should be clearly stated.		known regarding techniques or cut offs used.
Relationship	•	These relationships are particularly important in the	Current Exploration
between mineralisation	•	reporting of Exploration Results. If the geometry of the mineralisation with respect to	•	No drilling was undertaken.
widths and		the drill hole angle is known, its nature should be	Historical Exploration
intercept lengths	•	reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	•	Chianti was drilled at 60 degrees to the west into a N-S trending and east dipping mineralised lode. This drilling is believed to be largely perpendicular, but
				reported thicknesses are down hole
				thicknesses and cannot be converted to
				true thickness based on current
				knowledge.
			•	Grants and Wilsons were drilled at 60
				degrees to the west into a N-S trending
				and near vertical dipping mineralised
				lode. This drilling is believed to be
				largely perpendicular and with some
				bias, but reported thicknesses are down
				hole thicknesses and cannot be
				converted to true thickness based on
				current knowledge.

Dreadnought Resources Limited Suite 5, 16 Nicholson Road Subiaco WA 6008 T: +61 (0) 428 824 343

CORPORATE STRUCTURE ASX Code: DRE Shares on Issue: 1,110M Market Cap: $4.4M Share Price $0.004 Cash (1/4/19): $0.35M

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Criteria		JORC Code explanation		Commentary
Diagrams	•	Appropriate maps and sections (with scales) and	•	Refer to figures within this report.
		tabulations of intercepts should be included for any
		significant discovery being reported These should
		include, but not be limited to a plan view of drill hole
		collar locations and appropriate sectional views.
Balanced reporting	•	Where comprehensive reporting of all Exploration	Current Exploration
		Results is not practicable, representative reporting of both low and high grades and/or widths should be	•	No assays reported.
		practiced to avoid misleading reporting of Exploration	Historical Exploration
		Results.
			•	All collar locations have been shown in
				plan view. Further information can be
				found in WAMEX in reports
				WMC: A405, A407, A413, A415, A417
				ACM: 7506.
Other substantive	•	Other exploration data, if meaningful and material,	•	Rio Tinto Exploration completed a
exploration data		should be reported including (but not limited to):		versatile time domain electromagnetic
		geological observations; geophysical survey results;		(VTEM) and aeromagnetic survey
		geochemical survey results; bulk samples – size and		covering 206 sq km of the Yampi
		method of treatment; metallurgical test results; bulk		tenements for 901 line kilometres of
		density, groundwater, geotechnical and rock		data using 125 and 250 m line spacing.
		characteristics; potential deleterious or contaminating		Targets from the VTEM survey are
		substances.		shown in Figure 3 in this report.
			•	Whitewater Resources Pty Ltd
				completed rock chip sampling of copper
				gossans in 2013.
			•	Maldron Minerals NL completed rock
				chip sampling of gossans in 1993.
Further work	•	The nature and scale of planned further work (e.g.	•	Dreadnought is continuing rock chip
		tests for lateral extensions or depth extensions or		sampling with results expected in June
		large-scale step-out drilling).		2019.
	•	Diagrams clearly highlighting the areas of possible	•	FLEM surveys are ongoing with results
		extensions, including the main geological		expected by June 2019.
		interpretations and future drilling areas, provided this	•	Further Heritage and Environmental
		information is not commercially sensitive.		Surveys are planned to be carried out in
				July 2019.
			•	Once all approvals are in place, drilling
				is expected to commence in August
				2019.

Dreadnought Resources Limited Suite 5, 16 Nicholson Road Subiaco WA 6008 T: +61 (0) 428 824 343 E: [email protected] W: www.dreadnoughtresources.com.au

DIRECTORS Paul Chapman Non-Executive Chairman Dean Tuck Managing Director David Chapman Non-Executive Director Ian Gordon Non-Executive Director Paul Payne Non-Executive Director

CORPORATE STRUCTURE ASX Code: DRE Shares on Issue: 1,110M Market Cap: $4.4M Share Price $0.004 Cash (1/4/19): $0.35M

AI assistant

DREADNOUGHT RESOURCES LTD Regulatory Filings 2019

64785_rns_2019-06-05_03b311c6-5781-4064-938c-3ecf3c223ff9.pdf

GROUND EM SURVEY LIGHTS UP STRONG CONDUCTOR AT THE TEXAS NI-CU-PGE TARGET

HIGHLIGHTS

Background on the Texas Ni-Cu-PGE Magmatic Sulphide Target

Background on the Fuso Target

Upcoming Results:

Concluding Comments

Planned Activities

Competent Person’s Statement

INVESTMENT HIGHLIGHTS

Tarraji-Yampi Ni-Cu-Au Project

JORC Code, 2012 Edition – Table 1 report template Section 1 Sampling Techniques and Data

JORC TABLE 1

Section 1 Sampling Techniques and Data

Section 2 Reporting of Exploration Results

AI assistant

DREADNOUGHT RESOURCES LTD — Regulatory Filings 2019

64785_rns_2019-06-05_03b311c6-5781-4064-938c-3ecf3c223ff9.pdf

GROUND EM SURVEY LIGHTS UP STRONG CONDUCTOR AT THE TEXAS NI-CU-PGE TARGET

HIGHLIGHTS

Background on the Texas Ni-Cu-PGE Magmatic Sulphide Target

Background on the Fuso Target

Upcoming Results:

Concluding Comments

Planned Activities

Competent Person’s Statement

INVESTMENT HIGHLIGHTS

Tarraji-Yampi Ni-Cu-Au Project

JORC Code, 2012 Edition – Table 1 report template Section 1 Sampling Techniques and Data

JORC TABLE 1

Section 1 Sampling Techniques and Data

Section 2 Reporting of Exploration Results

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DREADNOUGHT RESOURCES LTD Regulatory Filings 2019