DREADNOUGHT RESOURCES LTD — Regulatory Filings 2021

Nov 1, 2021

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2 November 2021

TARRAJI-YAMPI PROJECT

SUPERGENE CONFIRMED AND MASSIVE SULPHIDES EXTENDED AT ORION Cu-Au-Ag-Co

HIGHLIGHTS

• Mineralisation at Orion is now confirmed from a depth of ~1m to ~150m down dip and along strike for ~240m and remains open at depth and along strike. This includes multiple supergene (chalcocite) and oxide (gossanous) intercepts in the top 20m from surface. Of 29 holes drilled at Orion, 19 intersected massive to semi-massive sulphides or supergene / oxide mineralisation.

• Magnetic targets at Orion and Fuso containing multiple zones of copper and cobalt mineralisation within chlorite and silica altered sediments and mafics also confirm additional mineralisation potential.

• Due to the wet season, drilling at Tarraji-Yampi has finished with a total of 32 RC drill holes drilled for 3,921m. Assay results are expected through November/December 2021.

Dreadnought Resources Limited (“ Dreadnought ”) is pleased to provide an update on the RC drilling program at the Tarraji-Yampi Project in the West Kimberley region of Western Australia.

A program of 32 RC holes (3,921m) has been completed at the Orion and Fuso prospects. At Orion, recent drilling focussed on a geophysical anomaly that extends ~400m in strike and to a depth of at least 500m. The anomaly contains a recent massive sulphide intersection ( KMRC017 12m @ 1.6% Cu, 31.7 g/t Ag & 0.5g/t Au from 45m ). This work included testing along strike and at depth from KMRC017 as well as for nearby, shallow supergene mineralisation. Furthermore, 6 magnetic anomalies around Orion and Fuso were tested.

Dreadnought’s Managing Director, Dean Tuck, commented: “Of the 29 holes drilled at Orion this season, 19 intersected massive to semi-massive sulphides or supergene / oxide mineralisation which

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confirmed our targeting techniques as well as the potential scale of the system. Mineralisation is now confirmed over ~240m of strike and to a depth of 150m and remains open. Orion also has oxide and supergene mineralisation from 1m depth. Orion, Fuso and surrounds are proving more and more to be part of a large mineralised system with similar geochemical signatures to Proterozoic Cu-Au / sedimentary copper systems with the rocks showing similar age, mineralisation and alteration as the Mt Isa Region.”

Figure 1: Photo of RC chips from KMRC039 18-19m showing supergene mineralisation comprised of chalcocite (dark grey) mixed with pyrite, chalcopyrite and gossanous iron oxides (red-brown). Part of a 20m thick oxide-supergene zone intersected from 4m depth.

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au

+61 (0) 428 824 343

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Figure 2: Image showing the location of recently drilled holes (blue) and previous drilling (black) in relation to magnetic anomalies and mapped lodes.

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

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Program at Orion Cu-Au-Ag-Co (E04/2315: 80%)

Orion consists of multiple magnetic and EM anomalies within a thick 4km long Ruins Dolerite and sediment package. A number of anomalies sit adjacent to significant cross cutting structures which could provide fluid pathways for Proterozoic Cu-Au-Ag-Co mineralisation.

During the 2021 field season 29 RC holes (3,240m) were drilled at Orion over 2 programs and included KMRC017 which intersected 12m @ 1.6% Cu, 31.7g/t Ag and 0.5g/t Au from 45m from an interval of massive to semi-massive sulphides within the Ruins Dolerite. Subsequent to drilling KMRC017, downhole and fixed loop EM surveys (Figure 3) modelled the anomaly at Orion to extend over ~400m of strike and to ~500m in depth (being the limit of the EM surveys’ effectiveness).

During the second program 27 RC holes (2,904m) were drilled at Orion to test the anomaly’s strike length and depth extent, as well as to test for nearby supergene mineralisation and 3 RC holes were drilled to test 3 additional magnetic anomalies. Of the 27 holes, 14 intersected massive to semimassive sulphides and a further 4 holes intersected supergene mineralisation.

Mineralisation has now been confirmed over ~240m in strike from within ~1m of surface to ~150m down dip with mineralisation remaining open along strike and at depth.

Massive sulphide mineralisation consists of pyrrhotite-pyrite-chalcopyrite-cobaltite and zones into more pyrrhotite-pyrite-chalcopyrite-sphalerite and galena rich compositions to the north and occasionally along the margins of the massive sulphide intervals. This zonation is likely due to a temperature gradient and/or multiple overprinted pulses within the mineral system.

The massive sulphide mineralisation occurs in a sequence of graphitic shales and siltstones and fine to medium-grained foliated dolerite and mafic schists. The mineralised lodes are approximately conformable with the stratigraphy and dip from 55-70 degrees to the east, ranges in thickness from 1- 16m and generally increases in thickness and tenor down dip. The results align with stronger modelled EM and magnetic responses at depth. Several NW-trending faults offset the lode and may offset, but not necessarily close off, the mineralisation to the south.

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Figure 3: Modelling of the DHEM (red) and FLEM (2 x blue) plates over the 3D inversion of magnetics at Orion and showing KMRC017 in relation to the coincident magnetic (down to 500m depth) and FLEM anomalies (400m x 300m at 4,000-5,000S).

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Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

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Oxide and supergene mineralisation is developed in the weathered portions of the lode down to ~20m depth and is marked by iron rich gossans and secondary copper carbonates in the oxide portions and chalcocite in the supergene.

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A palaeochannel ranging from 1-5m thick covers the shallowest portions of the mineralisation making it blind at surface.

In addition, three holes (357m) were drilled into magnetic anomalies with multiple zones of copper and cobalt minerals intersected within sheared, sulphide altered mafic rocks. These results indicate that additional lodes of massive sulphide mineralisation may exist within the broader Orion area.

Figure 4: Photo of RC chips from KMRC047 4- 5m showing oxide mineralisation comprised of gossanous iron oxides (red-brown) and secondary copper carbonates (green). Part of a 12m thick oxide-supergene zone intersected from 1m depth.

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Figure 5: RC rig drilling hole KMRC022 at Orion.

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

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Figure 6: Cross section showing mineralised intercepts from Line 4, which includes KMRC017. Magnetic and EM modelling indicate that mineralisation is stronger and remains open at depth.

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Figure 7: Cross section showing mineralised intercepts from Line 5, drilled 40m north along strike from KMRC017. Encouragingly, KMRC039 intersected chalcocite rich supergene mineralisation. Magnetic and EM modelling indicate that mineralisation is stronger and remains open at depth.

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

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Figure 8: Image showing the location of recently drilled holes (blue) in relation to the FLEM plates and magnetic anomalies at Orion Cu-Au-Ag-Co.

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

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Program at Fuso Cu-Au-Ag-Co (E04/2315: 80%)

Fuso is a Cu-Au-Ag-Co prospect defined by an intense magnetic high surrounding the northern extent of a strong density anomaly. The ~500m x 400m ovoid gravity feature is cupped on the northern side by a ~1,700m x 700m magnetic anomaly.

Earlier this year, 5 RC holes for 1,125m were drilled into Fuso. The gravity anomaly was tested and determined to be due to a medium to coarse grained mafic intrusion. However, multiple zones of chlorite-sulphide alteration with locally significant quartz-sulphide veining were intersected and the source of the magnetic anomaly remained unexplained. Encouragingly, 1 hole (KMRC012) intersected 1m @ 2.1% Cu, 0.1 g/t Au, 3.9 g/t Ag and 0.2% Co from 90m . Given the chemical similarity to Orion and, because no magnetic lithologies were intersected downhole, this intercept was interpreted as a near miss.

Recently, 4 additional holes (834m) were drilled at Fuso to test the two main magnetic anomalies and a third smaller anomaly to the northeast. KMRC028 and KMRC029 tested the main magnetic anomalies with KMRC029 intersecting thin mineralisation similar to KMRC012. Down hole magnetic surveys were undertaken confirming strong remanence in the magnetic signature. This data is being reviewed with additional drilling to be undertaken in 2022.

KMRC030 and KMRC031 tested the NE magnetic anomaly with KMRC031 intersecting Cu-Co mineralisation within chlorite and silica altered black shales.

Mineralised intercepts have been prioritised with results expected in November/December 2021.

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Figure 9: Image showing the location of recently drilled holes (blue) in relation to the magnetic anomalies at

Fuso Cu-Au-Ag-Co prospect.

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

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Background on Tarraji-Yampi

Tarraji-Yampi is located entirely within the Yampi Sound Training Area (“ YSTA ”), a Commonwealth Defence Reserve in the West Kimberley, ~80kms from the port of Derby. The YSTA is the second largest defence reserve in Australia after Woomera in South Australia and was off limits to mineral exploration from 1978 to 2013.

In 1906, Mr J.H. Grant, a mining engineer from Ballarat working with local prospector Mr. G.J. Poulton, reported the discovery of copper lodes in the Mt Nellie district and took out several mining leases for the Oobagooma Copper Syndicate. Small scale shafts were developed at Grant’s Find, Wilson’s Reward, Ironclad and Monarch.

Since the Oobagooma Copper Syndicate, the only significant exploration undertaken was by WMC Resources in 1958 and Australian Consolidated Minerals in 1972, with both parties exploring for copper. Since opening for exploration in 2013, Dreadnought has secured the largest ground holding within the YSTA and developed strong working relationships with both the Department of Defence and the Dambimangari People.

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Figure 10: Plan view of Tarraji-Yampi showing the location of prospects in relation to solid geology.

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Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

+61 (0) 428 824 343

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Acknowledgements:

Dreadnought would like to acknowledge the continued support of the Dambimangari People, Department of Defence, our Joint Venture Partner Whitewater Resources Pty Ltd, Frontier Helicopters, Southern Geoscience Consultants, Hagstrom Drilling, Ausdrill, Golden Connection, Onshore Environmental, Snappy Gum Earthmoving and Roadworks, JMB Diverse Contracting and Derby Stock Supplies.

For further information please refer to previous ASX announcements:

• 11 May 2021 Multiple Conductors Identified at Orion Ni-Cu-PGE

• 1 July 2021 Sulphides Intersected within the Ruins Dolerite at Texas

• 25 August 2021 RC Results from Orion, Grant’s & Fuso Indicate a large Cu-Au-Ag-Co System

• 4 October 2021 Drilling Program Commenced at Tarraji-Yampi Project

• 11 October 2021 Massive Sulphides Intersected in Multiple Holes at Orion Cu-Au-Ag-Co

UPCOMING NEWSFLOW

November: Rushed assay results from drilling (KMRC019-KMRC28) at Tarraji-Yampi (Orion)

November: Remaining assays from KMRC001-KMRC018 and diamond drilling at Tarraji-Yampi (Texas, Orion Ni-Cu-PGE, Grant’s Find, Fuso and Paul’s Find Cu-Au and Chianti-Rufina VMS targets)

November/December: Rushed assay results from drilling (KMRC029-KMRC050) at Tarraji-Yampi (Orion, Fuso)

November: Results of DHEM surveys from Tarraji-Yampi (Texas, Chianti, Orion and Fuso)

November: Target definition and generation work at Mangaroon (Yin, Cullen’s Find and Diamond’s)

November/December: Results of ground EM surveys along the Money Intrusion at Mangaroon

November/December: Results of airborne magnetic-radiometric surveys for REE ironstones and gold along the Cullen’s Find trend at Mangaroon

24 November: Annual General Meeting

~Ends~

For further information please contact:

Dean Tuck Jessamyn Lyons Managing Director Company Secretary Dreadnought Resources Limited Dreadnought Resources Limited E:dtuck@dreadnoughtresources.com.au E:jlyons@dreadnoughtresources.com.au

This announcement is authorised for release to the ASX by the Board of Dreadnought.

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.

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au

+61 (0) 428 824 343

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INVESTMENT HIGHLIGHTS

Kimberley Ni-Cu-Au Projects

Dreadnought controls the second largest land holding in the highly prospective West Kimberley region of WA. The main project area, Tarraji-Yampi, is located only 85kms from Derby and has been locked up as a Defence Reserve since 1978.

Tarraji-Yampi presents a rare first mover opportunity with known outcropping mineralisation and historic workings from the early 1900’s which have seen no modern exploration.

Results to date indicate that there may be a related, large scale, Proterozoic Cu-AuAg-Bi-Sb-Co system at Tarraji-Yampi, similar to Cloncurry / Mt Isa in Queensland and Tennant Creek in the Northern Territory.

Mangaroon Ni-Cu-PGE, REE & Au Project

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Mangaroon is a first mover opportunity covering ~4,500sq kms of tenure located 250kms south-east of Exmouth in the Gascoyne Region of WA. During the region’s early history, there was limited government support for exploration resulting in the region being vastly underexplored.

Since acquiring the project in late 2020, Dreadnought has located: outcropping high-grade gold bearing quartz veins along the Edmund and Minga Bar Faults; outcropping high tenor Ni-Cu-PGE blebby sulphides in the recently defined Money Intrusion; and outcropping high-grade REE ironstones, similar to those under development at the Yangibana REE Project.

Illaara Gold, Base Metals, Critical Minerals & Iron Ore Project

Illaara is located 190km northwest of Kalgoorlie in the Yilgarn Craton and covers 75kms of strike along the Illaara Greenstone Belt. Illaara is prospective for typical Archean mesothermal lode gold deposits, VMS base metals and critical metals including Lithium-Caesium-Tantalum.

Dreadnought has consolidated the Illaara Greenstone Belt mainly through an acquisition from Newmont. Prior to Newmont, the Illaara Greenstone Belt was predominantly held by iron ore explorers and remains highly prospective for iron ore.

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

www.dreadnoughtresources.com.au

info@dreadnoughtresources.com.au

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Table 1: Drill Collar Data (GDA94 MGAz51)

Hole ID	Easting	Northing	RL	Dip	Azimuth	EOH	**Type **	Prospect
KMRC017*	627928	8168656	94	-63	290	177	RC	Orion
KMRC018*	627823	8167849	88	-64	282	159	RC
KMRC019	627968	8168641	86	-59	296	135	RC
KMRC020	627897	8168667	86	-64	295	51	RC
KMRC021	627944	8168695	87	-58	291	87	RC
KMRC022	627982	8168679	87	-58	294	135	RC
KMRC023	627913	8168619	86	-58	292	99	RC
KMRC024	627950	8168603	87	-58	293	123	RC
KMRC025	627976	8168771	86	-58	292	81	RC
KMRC026	628014	8168754	86	-58	291	135	RC
KMRC027	627919	8168525	89	-67	292	138	RC
KMRC028	627878	8168540	90	-59	296	81	RC
KMRC029	624542	8160195	67	-79	41	201	RC	Fuso
KMRC030	625460	8160324	72	-79	333	213	RC
KMRC031	625784	8160701	67	-58	7	249	RC
KMRC032	625779	8160638	68	-58	2	171	RC
KMRC033	629806	8161749	90	-51	221	183	RC	Wilson's Reward
KMRC034	627945	8168785	94	-58	296	57	RC	Orion
KMRC035	627992	8168812	91	-59	295	81	RC
KMRC036	628029	8168796	91	-59	293	147	RC
KMRC037	627958	8168732	91	-59	21	81	RC
KMRC038	627998	8168718	93	-58	290	141	RC
KMRC039	627913	8168708	92	-59	291	51	RC
KMRC040	628008	8168845	83	-59	295	87	RC
KMRC041	628044	8168832	87	-58	290	135	RC
KMRC042	627651	8168614	93	-58	295	117	RC
KMRC043	626920	8166120	85	-58	273	117	RC
KMRC044	626972	8166425	83	-59	274	123	RC
KMRC045	627929	8168743	93	-57	290	81	RC
KMRC046	627978	8168819	92	-69	295	39	RC
KMRC047	627867	8168681	91	-59	273	51	RC
KMRC048	628020	8168667	92	-59	274	159	RC
KMRC049	628050	8168741	93	-59	293	189	RC
KMRC050	628029	8168572	93	-59	299	183	RC

*Previous drilling at Orion

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

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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,	Reverse Circulation (RC) drilling
techniques		random chips, or specific specialised industry standard measurement tools appropriate to the	Original 1m Splits (All drilling)
		minerals under investigation, such as down hole	Every metre drilled, two 2-3kg sample (original and
		gamma sondes, or handheld XRF instruments,	duplicate) were sub-sampled into calico bags via a
		etc.). These examples should not be taken as	Metzke cone splitter. This results in two 1m split
		limiting the broad meaning of sampling.	samples.
	•	Include reference to measures taken to ensure
		sample representivity and the appropriate	3m Composites (unmineralized samples)
		calibration of any measurement tools or systems	Outside the target zone, all remaining spoil from the
		used.	sampling system was collected in buckets and
	•	Aspects of the determination of mineralisation that	deposited in rows adjacent to the rig. An aluminium
		are Material to the Public Report.	scoop was used to then sub-sample each spoil pile
	•	In cases where ‘industry standard’ work has been	to create a 2-3kg 3m composite sample in a calico
		done this would be relatively simple (e.g. ‘reverse	bag.
		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	QAQC samples, in addition to the target lode duplicates and blanks, consisting of duplicates and CRM’s (OREAS Standards) were inserted through the program at a rate of 1:50 samples.
		problems. Unusual commodities or mineralisation	Samples will be submitted to the ALS Laboratories
		types (e.g. submarine nodules) may warrant	in Perth and pulverised to produce a 50g charge for
		disclosure of detailed information.	Fire Assay to determine Au and PGEs (PGM-
			ICP24) and 0.25g aliquot for four acid digest to
			determine 48 elements (ME-MS61) with overranges
			as required.
			Diamond Drilling
			Core is orientated for structural and geotechnical
			logging where possible. In orientated core, quarter
			core will be submitted to the lab for analysis in
			intervals ranging from 20cm to 1m depending on the
			geological context. If core is orientated, then the half
			core will be cut so as to preserve the orientation line
			with the same side of the core submitted down the
			hole.
			QAQC samples consisting of duplicates, blanks
			and CRM’s (OREAS Standards) will be inserted
			through the program at a rate of 1:50 samples.
			Samples will be submitted to the ALS Laboratories
			in Perth and pulverised to produce a 50g charge for
			Fire Assay to determine Au and PGEs (PGM-
			ICP24) and 0.25g aliquot for four acid digest to
			determine 48 elements (ME-MS61) with overranges
			as required.

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

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Criteria		JORC Code explanation		Commentary
Drilling	•	Drill type (e.g. core, reverse circulation, open-hole		RC Drilling
techniques		hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc.).		Ausdrill undertook the program utilising a Drill Rigs Australia truck mounted Schramm T685WS drill rig with additional air from an auxiliary compressor and booster. Bit size was 5¾”.
				Diamond Drilling
				Diamond drilling is being undertaken by Hagstrom
				Drilling with a frame mounted LF70. Drilling is
				initially HQ and dropping to NQ once the hole is
				cased off.
				Core is orientated using a Reflex EZ trac and Boart
				Longyear True Core Orientation Tool.
Drill sample	•	Method of recording and assessing core and	chip	RC Drilling
recovery		sample recoveries and results assessed.		Drilling was undertaken using a ‘best practice’
	•	Measures taken to maximise sample recovery and		approach to achieve maximum sample recover and
		ensure representative nature of the samples.		quality through the ore zones.
	•	Whether a relationship exists between sample
		recovery and grade and whether sample bias	may	Best practice sampling procedure included: suitable
		have occurred due to preferential loss/gain of		usage of dust suppression, suitable shroud, lifting
		fine/coarse material.		off bottom between each metre, cleaning of
				sampling equipment, ensuring a dry sample and
				suitable supervision by the supervising geologist to
				ensure good sample quality.
				At this stage, no bias occurs between sample
				recovery and grade.
				Diamond Drilling
				HQ and NQ drilling has been undertaken. All core
				recoveries are measured and recorded by the drill
				crew for each run and remeasured and checked by
				Dreadnought personnel.
				Core recovery to date has been very high.
				At this stage, no known bias occurs between
				sample recovery and grade.
Logging	•	Whether core and chip samples have been		RC chips and diamond core were logged by a
		geologically and geotechnically logged to a	level	qualified geologist with sufficient experience in this
		of detail to support appropriate Mineral Resource		geological terrane and relevant styles of
		estimation, mining studies and metallurgical		mineralisation using an industry standard logging
		studies.		system which could eventually be utilised within a
	•	Whether logging is qualitative or quantitative in		Mineral Resource Estimation.
	•	nature. Core (or costean, channel, etc.) photography. The total length and percentage of the relevant		Lithology, mineralisation, alteration, veining, weathering and structure were all recorded digitally.
		intersections logged.		Chips were washed each metre and stored in chip
				trays for preservation and future reference.
				Logging is qualitative, quantitative or semi-
				quantitative in nature.
Sub-sampling	•	If core, whether cut or sawn and whether quarter,		RC Drilling
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.		Every metre drilled a 2-3kg sample (split) was sub- sampled into a calico bag via a Metzke cone splitter.
	•	For all sample types, the nature, quality	and	QAQC in the form of duplicates and CRM’s
		appropriateness of the sample preparation		(OREAS Standards) were inserted through the ore
		technique.		zones at a rate of 1:50 samples. Additionally, within
	•	Quality controlprocedures adopted for all	sub-	each ore zone, a duplicate sample was taken of the

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

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Criteria		JORC Code explanation		Commentary
		sampling stages to maximise representivity of		lode and a blank inserted directly after.
	• •	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.		2-3kg samples will be submitted to ALS laboratories (Perth), oven dried to 105°C and pulverised to 85% passing 75um to produce a 50g charge for Fire Assay with ICP-AES finish to determine Au and PGEs (PGM-ICP24) and 0.25g aliquot for four acid digest to determine 48 elements (ME-MS61) with overranges as required.
				Standard laboratory QAQC is undertaken and
				monitored.
				Diamond Drilling
				20cm – 1m quarter core samples will be sawn and
				submitted to the lab for analysis. If core is
				orientated, then the core will be cut so as to
				preserve the orientation line with the same side of
				the core submitted down the hole.
				QAQC in the form of duplicates, blanks and CRM’s
				(OREAS Standards) were inserted through the
				mineralised zones at a rate of 1:50 samples.
				Additionally, within each mineralised zone, a
				duplicate sample was taken and a blank inserted
				directly after.
				Samples will be submitted to ALS laboratories
				(Perth), oven dried to 105°C and pulverised to 85%
				passing 75um to produce a 50g charge for Fire
				Assay with ICP-AES finish to determine Au and
				PGEs (PGM-ICP24) and 0.25g aliquot for four acid
				digest to determine 48 elements (ME-MS61) with
				overranges as required.
				Standard laboratory QAQC is undertaken and
				monitored.
Quality of assay	•	The nature, quality and appropriateness of the		Assay technique is Fire Assay which is a ‘Total
data and		assaying and laboratory procedures used and		Technique’ for Au and PGEs. Four acid digest is
laboratory tests		whether the technique is considered	partial or	considered a ‘near total’ technique for the 48
		total.		elements received under ME-MS61.
	•	For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations		Standard laboratory QAQC is undertaken and monitored by the laboratory and by the company upon assay result receival.
		factors applied and their derivation, etc.		No assay results reported, so no comment on the
	•	Nature of quality control procedures adopted (e.g.		outcomes of the QAQC at this stage.
		standards, blanks, duplicates, external laboratory
		checks) and whether acceptable	levels of
		accuracy (i.e. lack of bias) and precision have
		been established.
Verification of	•	The verification of significant intersections by		Logging and sampling were recorded directly into a
sampling and		either independent or alternative	company	digital logging system, verified and eventually
assaying		personnel.		stored in an offsite database.
	• •	The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage		Significant intersections have been inspected by senior company personnel.
		(physical and electronic) protocols.		No twinned holes have been drilled at this time.
	•	Discuss any adjustment to assay data.		No adjustments to any assay data have been
				undertaken.

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

www.dreadnoughtresources.com.au info@dreadnoughtresources.com.au

+61 (0) 428 824 343

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Criteria		JORC Code explanation	Commentary
Location of data	•	Accuracy and quality of surveys used to locate drill	Collar position was recorded using a Emlid Reach
points		holes (collar and down-hole surveys), trenches,	RS2 RTK GPS system (+/- 0.2m x/y, +/-0.5m z).
	•	mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used.	GDA94 Z51s is the grid format for all xyz data reported.
	•	Quality and adequacy of topographic control.	Azimuth and dip of the drill hole was recorded after
			the completion of the hole using a Reflex Sprint IQ
			Gyro. A reading was undertaken every 30thmetre
			with an accuracy of +/- 1° azimuth and +/-0.3° dip.
Data spacing and	•	Data spacing for reporting of Exploration Results.	See drill table for hole positions.
distribution	•	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral	Data spacing at this stage is not suitable for Mineral Resource Estimation.
		Resource and Ore Reserve estimation
		procedure(s) and classifications applied.
	•	Whether sample compositing has been applied.
Orientation of	•	Whether the orientation of sampling achieves	Drilling was undertaken at a near perpendicular
data in relation to		unbiased sampling of possible structures and the	angle to the interpreted strike and dip of the
geological		extent to which this is known, considering the	modelled FLEM plates and known outcrop.
structure	•	deposit type. If the relationship between the drilling orientation	No sample bias is known at this time.
		and the orientation of key mineralised structures is
		considered to have introduced a sampling bias,
		this should be assessed and reported if material.
Sample security	•	The measures taken to ensure sample security.	All samples from collection at rig through to
			submission at the laboratory have been under the
			supervision of Dreadnought personnel or sub-
			contractors associated with the company. All
			samples are stored is core trays and strapped to
			pallets for storage and transport.
Audits or reviews	•	The results of any audits or reviews of sampling techniques and data.	The program is continuously reviewed by senior company personnel

Section 2 Reporting of Exploration Results

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

Criteria		JORC Code explanation	JORC Code explanation					Commentary
Mineral tenement	•	Type, reference name/number,		location		and	•	The Tarraji-Yampi Project consists of 5
and land tenure		ownership including agreements or	material issues					granted (E04/2315, E04/2508,
status		with third parties such as	joint		ventures,			E04/2572, E04/2557, E04/2608)
		partnerships, overriding royalties,		native		title		exploration Licenses.
		interests, historical sites, wilderness or national				park	•	The Tarraji tenement (E04/2315) is a
		and environmental 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 Dreadnought
								Exploration Pty Ltd
							•	Dreadnought Exploration Pty Ltd is a
								wholly owned subsidiary of
								Dreadnought Resources Ltd.
							•	E04/2315, E04/2508, E04/2572,
								E04/2557 are located within the Yampi
								Sound TrainingArea(YSTA)which is

Dreadnought Resources Limited

www.dreadnoughtresources.com.au

info@dreadnoughtresources.com.au

Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

+61 (0) 428 824 343

==> picture [149 x 85] intentionally omitted <==

Criteria		JORC Code explanation	JORC Code explanation	JORC Code explanation		Commentary
						freehold land owned			by	the
						Commonwealth Government				and
						administered by the	Department of
						Defence. Being			freehold
						Commonwealth Land,	Native		Title has
						been extinguished but falls				within
						Dambimangari Land.
					•	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
						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			•	An overview of the drilling		program is
information		understanding of the exploration results including a				given within the text and tables				within
		tabulation of the	following information for all Material			this document.
		drill holes:
		o easting and	northing of the	drill hole collar
		o elevation or RL (Reduced Level – elevation
		above sea level in metres) of the drill hole collar
		o dip and azimuth of the hole
		o down hole length and interception depth
		o hole length.
	•	If the exclusion of this information is justified on the
		basis that the information is not Material and this
		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	•	No assays reported.
methods		averaging techniques, maximum and/or minimum
		grade truncations (e.g. cutting		of high grades) and
		cut-off grades are usually Material and should be
		stated.
	•	Where aggregate intercepts		incorporate short
		lengths of high grade results and longer lengths of
		low grade results, the procedure used for such
		aggregation should be stated and some typical
		examples of such aggregations should be shown in
		detail.

Dreadnought Resources Limited

www.dreadnoughtresources.com.au

info@dreadnoughtresources.com.au

Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

+61 (0) 428 824 343

==> picture [149 x 85] intentionally omitted <==

Criteria		JORC Code explanation		Commentary
	•	The assumptions used for any reporting of metal
		equivalent values should be clearly stated.
Relationship	•	These relationships are particularly important in the	•	Drilling is undertaken close			to
between		reporting of Exploration Results.		perpendicular to the	dip	of	the
mineralisation	•	If the geometry of the mineralisation with respect to		mineralisation.
widths and		the drill hole angle is known, its nature should be	•	The true thickness of the	mineralisation
intercept lengths		reported.		intersected in drill holes		cannot
	•	If it is not known and only the down hole lengths are		currently be calculated.
		reported, there should be a clear statement to this
		_effect(e.g. ‘down hole length, true width not known’). _
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	•	Where comprehensive reporting of all Exploration	•	The accompanying document is a
reporting		Results is not practicable, representative reporting of		balanced report with	a	suitable
		both low and high grades and/or widths should be		cautionary note.
		practiced to avoid misleading reporting of
		Exploration Results.
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		Targets from the VTEM survey			are
		contaminating substances.		shown in Figure 3 in this report.		.
Further work	•	The nature and scale of planned further work (e.g.	•	Additional drilling is	expected		to
		tests for lateral extensions or depth extensions or		commence in September	2021.
		large-scale step-out drilling).	•	DHEM surveys are underway.
	•	Diagrams clearly highlighting the areas of possible
		extensions, including the main geological
		interpretations and future drilling areas, provided this
		information is not commercially sensitive.

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

www.dreadnoughtresources.com.au

info@dreadnoughtresources.com.au

+61 (0) 428 824 343