DREADNOUGHT RESOURCES LTD — Investor Presentation 2021

Nov 10, 2021

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HIGHLY ACTIVE WEST AUSTRALIAN MINERAL EXPLORER FOCUSED ON DISCOVERY

NOOSA MINING UNEARTHED CONFERENCE - NOVEMBER 2021

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Disclaimer

This presentation includes forward-looking statements. When used in this document, the words such as “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “should”, and similar expressions are forward-looking statements. Although Dreadnought Resources Limited (“Dreadnought”) believes that the expectation reflected in these forward-looking statements are reasonable, such statement involved risks and uncertainties and no assurance can be given that actual results will be consistent with these forwardlooking statements.

This presentation has been prepared by Dreadnought for the purpose of providing an overview of its current prospects and growth strategy to recipients. This presentation and its contents are provided to recipients on the basis that It may not be reproduced or disclosed in whole or in part to any other person, without the written consent of Dreadnought.

This presentation is provided on the basis that neither Dreadnought nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisers, make any representation or warrant (express of implied) as to the accuracy, reliability, relevance or completeness of the material contained in this presentation and nothing contained in the presentation is, or may be relied upon, as a promise, representation or warrant, whether as to the past or the future. Dreadnought hereby excludes all warranties that can be excluded by law.

All persons should consider seeking appropriate professional advice in reviewing the presentation and all other information with respect to Dreadnought and evaluating the business, financial performance and operation of Dreadnought. Neither the provision of the presentation nor any information contained in the presentation or subsequently communicated to any person in connection with the presentation is, or should be taken as, constituting the giving of investment advice to any person.

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, Managing 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 Person’s findings are presented have not been materially modified from the original reports. (referencing historic and new company announcements).

Currency

All amounts shown are in Australian dollars unless otherwise stated.

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Illaara Gold-VMS-Iron Ore Project

75 km Long Illaara Greenstone Belt Acquired from Newmont Consolidation of 75km Long Illaara Greenstone Belt RC Drilling Hits High Grades at Metzke’s Find RC Drilling Hits High Grade Gold at Metzke’s Find Remaining Metzke’s Find Assays High-grade Iron Ore Opportunity - Illaara Greenstone Belt 2020 Further High-Grade Gold from Metzke’s Find Further High-Grade Gold from Metzke’s Find Exploration Update Illaara Gold-VMS-Iron Ore Project Illaara Update and Regional Target Generation Drilling Results – Illaara Au-Cu-Iron Ore Project

• 24 June 2019 • 6 December 2019 • 19 March 2020 • 13 July 2020 • 17 July 2020 • 22 July 2020 • 25 September • 8 October 2020 • 30 November 2020 • 27 April 2021 • 31 May 2021

Kimberley Ni-Cu-Au Project

Ground EM Survey Lights Up Strong Conductor at the Texas Ni-Cu-PGE Target Assays and EM Surveys Confirm Massive Sulphide System at Chianti-Rufina Grants Cu-Au Assays and Coincident Magnetic/Gravity Targets High Priority Copper Gold Targets at Fuso and Paul’s Find RC Results from Orion, Grant’s Find & Fuso Indicate Large Cu-u-Ag-Co System Bonanza Grade Cu-Ag-Sb-Bi Mineralisation at rough Triangle Massive Sulphide Intersected in Multiple Holes at Orion Supergene Confirmed and Massive Sulphide Extended at Orion

• 6 June 2019

• 2 December 2019 • 23 December 2019 • 24 August 2020 • 25 August 2021 • 27 August 2021 • 11 October 2021

• 2 November 2021

Mangaroon Ni-Cu-PGE, REE & Au Project

Mangaroon Ni-Cu-PGE & Au Project Option/JV Agreement Signed with Global Base Metal Miner High Grade REE Ironstones Outcropping at Mangaroon Encouraging Results for Rare Earths at Yin Four New REE Ironstones Discovered at Mangaroon

• 25 November 2020

• 07 April 2021

• 19 July 2021

• 1 September 2021

• 9 September 2021

• 24 September 2021

Airborne Magnetic-Radiometric Survey Commenced at Mangaroon

Refer to Dreadnought announcements for JORC Table 1 and Table 2 for results and information contained in this presentation. ASX:DRE WWW.DREADNOUGHTRESOURCES.COM.AU

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Com an Sna shot p y p

	Capital Structure
	ASX Code		DRE
	Share Price(10/11/2021)		$0.044
	Shares on Issue		2,831.9M
	Market Cap(fully diluted)		$124.6M
	Cash(30/09/2021)		~$7.8M
	Unlisted Options(various strike prices) Top 20 Shareholders		74.0M 32%
	Board / Management Cash Investment	~$1,300,000
	Board / Management Shareholding		17%
	Board & Management
	Paul Chapman		Non-Executive Chairman
	Dean Tuck Ian Gordon Paul Payne Jessamyn Lyons		Managing Director Non-Executive Director Non-Executive Director Company Secretary
	Matt Crowe		Exploration Manager
	Frank Murphy		Operations	Manager
	Nick Chapman / Luke Blais		Senior Geologists

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Kimberley Ni-Cu-Au Projects (100%, E04/2315 80%)

• 2,660km[2 ] land holding in the West Kimberley, 2[nd] largest land owner behind IGO and ahead of Chalice

• Unexplored since 1978 with known outcropping mineralisation

• Orion – High-grade Cu-Co-Ag-Au-Zn Massive Sulphides

• Rough Triangle – High-grade Cu-Ag-Bi-Sb Veins

• Texas, Fuso and Grants – Cu-Co-Au mineralisation

Mangaroon Ni-Cu-PGE (Option with FQM), REE & Au Project (100%)

• ~4,500km[2 ] land holding in the Gascoyne Provence

• Vastly unexplored with historical work led by local pastoralists

• Outcropping rare earth ironstones, nickel-copper-PGE sulphides and gold

Illaara Gold-Base Metals-LCT-Iron Ore Project (100%)

• Consolidated 880km[2] landholding covering 75km strike of the Illaara greenstone belt.

• High grade gold, outcropping fertile LCT pegmatites, Iron Ore and base metal gossans.

• Metzke’s Find maiden gold resource underway:

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Se tember Quarter 2021 Performance p

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Values rounded
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• [1 ] $600k Convertible Note

• *[2 ] ~$25k / month going forward

Capital Purchases: 2 x light vehicles

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Strate and Performance gy

EFFECTIVE AND EFFICIENT EXPLORATION

DELIVER SIGNIFICANT SHAREHOLDER RETURNS

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STRONG COMMUNITY AND STAKEHOLDER ENGAGEMENT

• Increase value through advancing exploration targets through discovery to resource

• Chalice – Julimar

• De Grey – Hemi

• Sirius – Nova Bollinger

• Sandfire – Degrussa

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We strive to develop win-win relationships with key stakeholders – our licence to operate

• 80% of funds go into the ground

• Maintain a pipeline of strong targets and drill results

  • *2

• Water bores for pastoralists

• Upgrades to homestead outcamp

• Maintain a stable of large scale projects with potential for multiple commodities

• Fire fighting trailer for the Dambimangari

• Site recycling to local sports clubs

• Low impact exploration

• Engagement with CSIRO and Universities

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Tarraji-Yampi Ni-Cu-PGE &

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Rare Exploration Opportunity

• Outcropping mineralisation

• Off limits since 1978

• First movers within the YSTA

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1956-1959: Last 1978-2013: YSTA significant mineral Defense Reserve exploration at Tarraji “off limits” to undertaken by WMC mineral exploration

• Half of all mineral deposits in Australia discovered after 1983

• No exploration since 1958 (Tarraji) / 1972 (Chianti-Rufina)

• Yampi Sound Training Area (Defense Reserve) off-limits to exploration from 1978-2013

• West Kimberley is controlled by IGO, Dreadnought and Chalice

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Orion Cu-A -Au-Co Tar et g g

Oxide and Supergene from 1m depth, massive sulphide confirmed to ~150m, getting stronger and thicker at depth

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Max depth of drilling Next Steps: Assays results and resource drilling November 2021: Assays results June/July 2022: Resource drilling

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Gr ~~ant~~ ’ ~~s Find and~~ Fuso Cu-Au-Co

 Grant’s Find

• Outcropping breccia vein over 800m strike.

• Best intercept to date – most northern drill hole.

• 10m @ 2.3% Cu, 0.03% Co

 Fuso

• Multiple strong magnetic anomalies, completely under shallow cover.

• New magnetic data indicating we missed the target due to hole deviation.

• 1m @ 2.1% Cu, 0.24% Co, 0.1g/t Au

Next Steps: Explain the magnetic anomaly and does Grant’s Find improve to the north?

June/July 2022: Continue to test new targets at Yampi – Tarraji June/July 2022: Resource drilling at Grant’s Find

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Rough Triangle: Cu-Ag-Bi-Sb

• 1.2km long outcropping vein of high-grade Cu-Ag-Bi-Sb mineralisation

• Significant rock chips include:

• RT07: 20.4% Cu, 4.6% Sb, 0.9% Bi, 101g/t Ag

• • RTC01: 83.7% Cu, 142g/t Ag

• RT09: 18.9% Cu, 14.1% Sb, 1.6% Bi, 196g/t Ag

• • RT12: 18.5% Cu, 10.8% Sb, 1.9% Bi, 291g/t Ag

• Drilling expected May/June 2022

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Mangaroon Ni-Cu-PGE, REE & Au Project

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Man aroon Pro ect g j

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Rare Earths: Yin Camp – 100% Owned

• Outcropping high-grade rare earth ironstones – similar to Yangibana

• High NdPr to TREO ratio – high value product for permanent magnets

• Mineralogy and metallurgic work confirms high grade concentrate product

Ni-Cu-PGE: The Money Intrusion – Option/JV with FQM

• 50km long, outcropping mafic/ultramafic intrusion with high tenor blebby Cu-Ni-PGE bearing sulphides

• FQM entered into an Option Agreement over 5 tenements covering the Money Intrusion

• earn 51% interest by spending $15M and a further 19% interest by sole funding up until a Decision to Mine.

• Dreadnought retains rights to any gold discoveries.

Gold: Minga Bar and Edmund Faults – 100% Owned

• Known outcropping gold mineralisation along two crustal scale structures

• Historical high grade gold drilled at Cullen’s Find and mined at Diamond’s Mine

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Pr
La
Ce
Nd
Six REE ironstones identified to date
with over an area of ~10kms x 5kms
High grade rock chips, up to 11.37%
TREO, with high NdPr to TREO ratios
Pr
Monazite – globally significant REE
Nd
mineral with abundant processing
capacity with three plants to be built in
Standard flotation sheet able to
produce high grade concentrate
12.3% Nd2O3 / 40% TREO with Next Steps: How big is it and how many more are there?
September-November 2021: Airborne magnetic and radiometric survey
October/November 2021: Environmental and heritage surveys
March 2022: Discovery and resource focused drilling
Mid-Late 2022: Deliver maiden JORC resource
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Yin REE Ironstones

 Scale

• Six REE ironstones identified to date with over an area of ~10kms x 5kms

• Grade

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Pr
Nd
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• High grade rock chips, up to 11.37% TREO, with high NdPr to TREO ratios – high value concentrate

 Mineralogy

• Monazite – globally significant REE mineral with abundant processing capacity with three plants to be built in WA

 Metallurgy

• Standard flotation sheet able to produce high grade concentrate

• 12.3% Nd2O3 / 40% TREO with 92.8% process recovery

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~~Mangaroon Ni-Cu-PGE~~

 The Money Intrusion

• 50km long, outcropping mafic / ultramafic intrusion with high tenor blebby Cu-Ni-PGE bearing sulphides

• 1km long outcropping gossanous Ni-Cu-PGE horizon at Bookathanna

Next Steps: Is there a massive sulphide accumulation? September – December 2021: Ground EM surveys October / November 2021: Environmental and heritage surveys March 2022: Discovery focused drilling

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MNRK0366: 0.4% Cu, 0.4% Ni,
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0.03% Co, 0.3 g/t Pt-Pd-Au
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Coarse grained mafic intrusion showing high tenor three phase disseminated and blebby sulphides comprised of chalcopyrite, 14 pentlandite and pyrrhotite

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Illaara Au-Cu-LCT-Iron Ore

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Illaara Project Overview

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Lithium Caesium Tantalum Pegmatites – Peggy Sue

• Outcropping fertile LCT pegmatite swarm over an area of 5km x 2kms with multiple clusters of high-grade tantalum (up to 529ppm Ta2O5)

• Additional mapping and sampling over mineralised clusters to define drill targets for early 2022

VMS - Nelson

• ~1.4km long Cu-Pb-Zn-Ag anomaly situated over prospective changes in lithology (peak values 640ppm Pb; 1,100ppm Zn; 300ppm Cu; 0.5 g/t Ag)

• • FLEM survey to define drill target

Gold

• High-grade gold resource at Metzke’s Find in March quarter 2022

• Regional sampling over central and eastern corridor highlighting new large scale coherent gold in soil anomalies

Iron Ore

• Resource evaluation drilling in June quarter 2022

• P-North: 29m @ 58.6% Fe, 8.3% SiO2, 3.4% Al2O3, 0.04% P, and 4.0% LOI from 6m

  • Incl. 16m @ 64.4% Fe, 2.4% SiO ~~2~~ , 1.3% Al ~~2~~ O3, 0.04% P and 3.7% LOI from 8m

• Kings: 49m @ 55.7% Fe, 9.1% SiO2, 3.1% Al2O3, 0.04% P, and 4.0% LOI from 13m • Incl. 11m @ 62.7% Fe, 2.5% SiO2, 1.2% Al2O3, 0.05% P and 6.1% LOI from 48m

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Gold

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2021 Work Plan

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Nickel
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Tarraji- Paul’s Ironclad
Wombarella Yampi Find Fuso Texas Orion
Wilson’s
Grant’s Kimberley
Tarraji- Monarch Find Rough Orion
Yampi Triangle Chianti Find
Eastern
Nelson Defiance Black
VMS Peggy Spitfire
Regional Oak Metzke’s
Sue
Illaara Western Find Illaara
Central CRA Lawrence’s
VMS
Illaara Homestead Corridor King’s
Minga Bar Money White
Fault Intrusion Mitchell’s Well Cullen’s Y2-6
Find Find
Regional
Streams IronstonesREE Edmund Fault Lumpy’s Booka-thanna Diamond’s Yin Mangaroon
Sept Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug
Kimberley Drilling Drilling
Mangaroon Drilling
Illaara Drilling Drilling
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Iron Ore
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Critical
Metals
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Target generation Target definition

Target testing

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Take ~~Away Message~~

• Strong ~~news flow: Discovery and~~ evaluation / resource drilling focus for the next 12 months

• Metzke’s Find Gold: March 2022

• Yin REE: August 2022

• Orion Cu-Ag-Au-Co: December 2022

• Kimberley and Mangaroon: first mover with potential for major Cu, Au, Ni and REE deposits

• Illaara: Consolidated 75km long underexplored greenstone belt with early exploration success

• Experienced management team with a track record of success and strongly aligned with shareholders

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