DREADNOUGHT RESOURCES LTD - Regulatory Filings 2021

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1 July 2021

SULPHIDES INTERSECTED WITHIN THE RUINS DOLERITE IN FIRST HOLE AT TEXAS NI-CU-PGE

HIGHLIGHTS

Sulphides, dominated by pyrrhotite with minor pyrite and chalcopyrite, hosted within the Ruins Dolerite were intersected from 56.75–57.55m in the first hole (TXDD001) drilled into a 550m x 280m EM plate at Texas.
A second diamond hole (TXDD002), located ~150m to the Northeast of TXDD001, will be drilled to a depth of 180m to test the EM plate further down plunge.
Preparations for the RC drilling program at Fuso (6 holes), Paul’s Find (3 holes), Orion (3 holes) and Chianti-Rufina (7 holes) for a total of 19 holes for ~4,010m are underway with drilling to commence early July 2021.
Drilling updates and assay results are expected throughout July and August 2021.

Dreadnought Resources Limited (“ Dreadnought ”) is pleased to announce that diamond drilling has intersected sulphides at Texas, part of the Tarraji-Yampi Project in the West Kimberley region of Western Australia.

TXDD001 intersected dominantly pyrrhotite with minor pyrite and chalcopyrite from 56.75–57.55m hosted within the Ruins Dolerite. The drill hole was positioned to test the shallow southern extent of the modelled 550m x 280m EM plate with a conductance of 1,300 siemens. Additionally, multiple fingers of felsic porphyry and quartz-sulphide (pyrite-chalcopyrite) veins were intersected in the upper half of the hole. Diamond core will be dispatched for sampling with assay results expected in August 2021.

Drilling of TXDD002, located ~150m to the Northeast of TXDD001, will test the EM plate further down plunge with a planned hole depth of 180m. It is expected that this hole will be completed in mid-July.

In addition, preparations for the RC drilling program at Fuso and Paul’s Find Cu-Au, Orion Ni-Cu-PGE and Chianti-Rufina Cu-Zn-Ag Targets are well underway with drilling on schedule to commence in early July 2021.

Dreadnought’s Managing Director, Dean Tuck, commented: “Confirmation of sulphides within the Ruins Dolerite is an exciting outcome for the first drill hole at Texas and significantly enhances the prospectivity of Texas as well as the recently defined EM plates at Orion.

This is a great start to our exploration program in the Kimberley and we look forward to progressing the diamond and RC drilling programs.”

Figure 1: Pyrrhotite and minor pyrite and chalcopyrite in Ruins Dolerite at 56.75m from TXDD001.

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

www.dreadnoughtresources.com.au

[email protected]

+61 (0) 428 824 343

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Program at Texas and Orion Ni-Cu-PGE (E04/2315: 80%)

Texas and Orion are magmatic Ni-Cu-PGE targets hosted within the Ruins Dolerite. In 2015, an airborne VTEM survey was flown resulting in the identification of Texas and Orion as multiple EM anomalies +/- coincident magnetic anomalies hosted within a thick Ruins Dolerite sequence.

Subsequently, Dreadnought has conducted a detailed airborne magnetics survey and FLEM surveys at Texas and Orion identifying multiple strong conductors within the Ruins Dolerite. Additionally, mapping at Orion identified outcropping disseminated and blebby sulphides in sub-cropping Ruins Dolerite close to the VTEM anomalies. This indicates sulphur saturation within the Ruins Dolerite and means the VTEM anomalies may be associated with massive sulphide accumulations.

Two diamond holes will be drilled at Texas for ~320m to test the coincident magnetic and EM anomaly (Figure 2). In addition, three RC holes (500m) are planned to test EM plates A, B and C in the southern portion of Orion (Figure 2). Further holes may be drilled pending the results of an additional FLEM survey to be undertaken over the northern portion of Orion. Down hole EM surveys will be undertaken post-drilling as deemed necessary.

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Figure 2: Image showing the location of planned holes in relation to the FLEM plates at Texas and Orion NiCu-PGE targets over a magnetics image. TXDD003 as a third optional planned hole location.

www.dreadnoughtresources.com.au [email protected]

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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Program at Fuso and Paul’s Find Cu-Au (E04/2315: 80%)

Fuso and Paul’s Find are Proterozoic Cu-Au targets defined from airborne magnetics and ground gravity surveys undertaken in 2019. This work was motivated by the comparisons of the lithostructural and geochemical signature of outcropping mineralised veins at Tarraji-Yampi to other Proterozoic CuAu terranes such as the Tennant Creek Inlier (Gecko, Peko) and Mt Isa (Brumby, Ernest Henry). In these terranes, Proterozoic Cu-Au deposits occur as coincident magnetic-gravity anomalies regionally associated with Proterozoic high-K intrusions.

Fuso is 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 of the ~1,700m x 700m magnetic anomaly (Figure 3). The magnetic anomaly is interpreted to be related to intense ironrich alteration, either as magnetite or pyrrhotite and the gravity signature conceptually represents the mineralised breccia. Six RC holes for 1,500m will be drilled to test the magnetic and gravity anomalies and the overlap between the magnetic and gravity anomalies.

Paul’s Find is defined by an intense, isolated, reversely/remanently magnetised anomaly with a coincident density anomaly. Inversion modelling suggests that the isolated feature is located near surface with dimensions of ~300m x 200m (Figure 3). The magnetic low is interpreted to be remnant magnetisation associated with a mineralised body. Three holes for 750m will be drilled across the coincident magnetic and gravity anomaly.

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Figure 3: Location of planned RC drill holes over magnetics image with the outline of coincident gravity anomalies outlined.

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

www.dreadnoughtresources.com.au [email protected]

+61 (0) 428 824 343

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Program at Chianti-Rufina Cu-Zn-Ag (E04/2508: 100%)

Chianti was originally defined and drilled by Australian Consolidated Minerals in 1972. An airborne VTEM survey flown in 2015 highlighted a conductor beneath the 1972 drilling. Since acquiring the project in 2019, Dreadnought has carried out a FLEM survey covering a portion of the VTEM conductor which contained outcropping gossans and historical drilling. The FLEM survey identified two strong EM plates which were then drilled in late 2019 and successfully intersected highly magnetic massive sulphide mineralisation (refer ASX 2 December 2019).

Dreadnought has now defined seven FLEM plates with associated outcropping gossans, magnetic anomalies and/or soil anomalies within the interpreted prospective VMS horizon (Figure 4). Seven RC holes for 1,260m will test each of the FLEM plates.

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Figure 4: Plan view of Chianti-Rufina showing the location of planned RC drill holes in relation to FLEM plates, soil anomalies and rock chip values from outcropping gossans, over geology andr magnetics.

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

www.dreadnoughtresources.com.au [email protected]

+61 (0) 428 824 343

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Ongoing and Upcoming Work Programs at Tarraji-Yampi:

Commenced: Diamond drilling at Texas.

Commenced: Target definition work across Tarraji and Yampi.

July: Diamond drilling at Texas and RC Drilling at Fuso, Paul’s Find, Orion and Chianti-Rufina.

June/July: Additional FLEM surveys at northern portion of Orion followed by down hole EM surveys.

July: Detailed airborne magnetic survey over Yampi and Wombarella.

July: Environmental surveys across new targets for the 2022 field season.

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Figure 5: Plan view of Tarraji-Yampi showing the location of prospects in relation to solid geology.

www.dreadnoughtresources.com.au [email protected]

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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Background on Tarraji-Yampi

Tarraji-Yampi is located entirely within the Yampi Sound Training Area (“YSTA”), a Commonwealth owned 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 has been off limits to mineral exploration from 1978 to 2013.

Copper was discovered and mined in the early 1900s with the only significant exploration since undertaken by Western Mining Corporation in 1958 and Australian Consolidated Minerals in 1972 with both parties exploring for copper. Since opening up 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. Dreadnought has completed successful drilling programs at the Chianti-Rufina VMS and Grants Cu-Au targets. In addition, geophysical and geochemical surveys have resulted in the definition of >12 drill targets.

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Figure 6: Image of Dreadnought’s Drew Money standing in front of an outcropping Cu-Au lode at the Grants prospect at Tarraji-Yampi.

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

www.dreadnoughtresources.com.au [email protected]

+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, Frontier Helicopters, Hagstrom Drilling and Derby Stock Supplies which have made this program possible.

For further information please refer to previous ASX announcements:

25 October 2019 Emerging VMS Camp around the Chianti VMS Prospect
2 December 2019 Assays and EM survey confirm Massive Sulphide System at Chianti
23 December 2019 Grants Cu-Au Assays and Coincident Magnetic/Gravity Targets
28 January 2020 Soils and High-Grade Rock Chips Further Validate Chianti-Rufina EM
24 August 2020 High Priority Copper Gold Targets at Fuso and Paul’s Find
4 June 2020 Successful ESI Drilling Grant for The Tarraji-Yampi Project
11 May 2021 Multiple Conductors Identified at Orion Ni-Cu-PGE

UPCOMING NEWSFLOW

July: Rock chip results from Peggy Sue LCT pegmatite swarm at Illaara

July: Results from target definition and generation work at Mangaroon

July: Commencement of RC drilling at Fuso and Paul’s Find Cu-Au, Orion Ni-Cu-PGE and ChiantiRufina VMS targets

July: Commencement of additional FLEM surveys on the northern portion of Orion Ni-Cu-PGE

July: Additional rock chip results from REE targets at Mangaroon

July: Quarterly Activities and Cash Flow Report

July/August: Results of drilling at Tarraji-Yampi (Texas and Fuso and Paul’s Find Cu-Au, Orion Ni-CuPGE and Chianti-Rufina VMS targets).

~Ends~

For further information please contact:

Dean Tuck Jessamyn Lyons Managing Director Company Secretary Dreadnought Resources Limited Dreadnought Resources Limited E:[email protected] E:[email protected]

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 [email protected]

+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 1900s which have seen no modern exploration.

Three styles of mineralisation occur at Tarraji-Yampi including: volcanogenic massive sulphide (“ VMS ”); Proterozoic Cu-Au (“ IOCG ”); and magmatic sulphide Ni-Cu-PGE. Numerous high priority nickel, copper and gold drill targets have been identified from recent VTEM surveys, historical drilling and surface sampling of outcropping mineralisation.

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Illaara Gold, VMS & 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 and base metals VMS mineralisation.

Dreadnought has consolidated the Illaara Greenstone Belt mainly through an acquisition from Newmont. Newmont defined several camp-scale targets which were undrilled due to a change in corporate focus. Prior to Newmont, the Illaara Greenstone Belt was predominantly held by iron ore explorers and has seen minimal gold and base metal exploration since the 1990s.

Mangaroon Ni-Cu-PGE, REE & Au Project

Mangaroon is a first mover opportunity covering ~4,500sq kms of tenure located 250kms south-east of Exmouth in the Gascoyne Region of Western Australia. During most of the regions early history, it did not receive government support for prospecting and or exploration resulting in a vastly underexplored region in Western Australia.

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. Mangaroon is still in the early stages with limited modern exploration.

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

www.dreadnoughtresources.com.au [email protected] +61 (0) 428 824 343

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Table 1: Drill Collar Data (GDA94 MGAz51)

Hole ID	Easting	Northing	RL	Dip	Azimuth	EOH	Type	Prospect
TXDD001	624863	8168516	120	-70	250	140.3	DD	Texas
TXDD002 (planned)	624990	8168540	104	-60	270	180	DD

Table 2: Drill hole logging and description of TXDD001

From (m)	To(m)	Interva l(m)	Lithology	Description
0	0.1	0.1	Soil
0.1	22.34	22.24	Dolerite-Porphyry	Fine to medium-grained dolerite with interfingered quartz-feldsparporphyry.
22.34	48.3	25.96	Dolerite-Veins	Massive fine-grained dolerite with minor stringers and quartz-sulphide veins to 10cm. Sulphides predominantly pyrrhotite (pyh)-pyrite(pyr)- chalcopyrite(cpy).
48.3	56.75	8.45	Dolerite-Porphyry	Fine-grained massive dolerite with thin quartz- feldsparporphyryfinger.
56.75	57.55	0.8	Dolerite	Heavily disseminated and stringer pyrrhotite-pyrite and rare chalcopyrite in fine-grained dolerite, and possible complex interfingered sediment. Veinlets of remobilised cpy.
57.55	71.3	13.75	Dolerite	Massive, weakly foliated dolerite with disseminated pyh-pyr. Vuggy quartz-pyr vein in dolerite. Predominantly pyr with minor cpy.
71.3	73	1.7	Dolerite-Porphyry	Dolerite with interfingered quartz-feldspar porphyry ~10-15cm thick.
73	79.7	6.7	Dolerite	Massive dolerite with disseminated and stringy veinlets ofpyr-pyh.
79.7	90	10.3	Sediment	Dark grey, fine-grained and foliated sediments with regular patches of moderate to strongly disseminated pyh-pyr.
90	92	2	Dolerite	Contaminated? Medium-grained dolerite with trace sediment signature.
92	98.15	6.15	Sediment	Foliated sediment with disseminated and vein-filling pyh-pyr+/-cpyand stringy quartz veinlets.
98.15	108	9.85	Dolerite	Dolerite.
108	118.8	10.8	Sediment	Sheared/foliated sediment? Trace sulphides. 110.5- 118.8m common sulphides.
118.8	140	21.2	Dolerite	Weaklyfoliated dolerite.

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

www.dreadnoughtresources.com.au [email protected] +61 (0) 428 824 343

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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,	Diamond Drilling
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 sample representivity and the appropriate calibration of any measurement tools or systems	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.
		used.	QAQC samples consisting of duplicates, blanks
	•	Aspects of the determination of mineralisation that	and CRM’s (OREAS Standards) will be inserted
		are Material to the Public Report.	through the program at a rate of 1:50 samples.
	•	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	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.
		problems. Unusual commodities or mineralisation
		types (e.g. submarine nodules) may warrant
		disclosure of detailed information.
Drilling	•	Drill type (e.g. core, reverse circulation, open-hole	Diamond 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.).	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	Diamond Drilling
recovery		sample recoveries and results assessed.	HQ and NQ drilling has been undertaken. All core
	•	Measures taken to maximise sample recovery and	recoveries are measured and recorded by the drill
		ensure representative nature of the samples.	crew for each run and remeasured and checked by
	•	Whether a relationship exists between sample	Dreadnought personnel.
		recovery and grade and whether sample bias may
		have occurred due to preferential loss/gain of	Core recovery to date has been very high.
		fine/coarse material.	At this stage, no known bias occurs between
			sample recovery and grade.
Logging	•	Whether core and chip samples have been	Diamond Drilling
	•	geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.	Diamond core were logged by a qualified geologist with sufficient experience in this geological terrane and relevant styles of mineralisation using an industry standard logging system which could eventually be utilised within a Mineral Resource Estimation.

www.dreadnoughtresources.com.au

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

[email protected]

+61 (0) 428 824 343

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Criteria		JORC Code explanation	Commentary
	•	The total length and percentage of the relevant	Lithology, mineralisation, alteration, veining,
		intersections logged.	weathering and structure were all recorded digitally.
			Diamond core will be photographed and stored in
			core 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,	Diamond 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. For all sample types, the nature, quality and appropriateness of the sample preparation	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.
		technique.
	•	Quality control procedures adopted for all sub-	QAQC in the form of duplicates, blanks and CRM’s
		sampling stages to maximise representivity of	(OREAS Standards) were inserted through the
		samples.	mineralised zones at a rate of 1:50 samples.
	•	Measures taken to ensure that the sampling is	Additionally, within each mineralised zone, a
		representative of the in situ material collected,	duplicate sample was taken and a blank inserted
		including for instance results for field	directly after.
	•	duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.	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.
Location of data	•	Accuracy and quality of surveys used to locate drill	Collar position was recorded using a handheld
points		holes (collar and down-hole surveys), trenches,	Garmin GPS (+/- 3m).
	•	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.

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

www.dreadnoughtresources.com.au [email protected]

+61 (0) 428 824 343

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Criteria		JORC Code explanation	Commentary
	•	Quality and adequacy of topographic control.	Azimuth and dip of the drill hole was recorded after
			the completion of the hole using a Reflex EZ Gyro.
			A reading was undertaken every ~30thmetre with
			an accuracy of +/- 1°.
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 plate.
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	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 Training Area (YSTA) which is
											freehold land owned by the
											Commonwealth Government and
											administered bythe Department of

Dreadnought Resources Limited

www.dreadnoughtresources.com.au

[email protected]

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

+61 (0) 428 824 343

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Criteria		JORC Code explanation	JORC Code explanation		Commentary
					Defence. Being		freehold
					Commonwealth Land,	Native Title has
					been extinguished but falls			within
					Dambinmangari 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.
	•	The assumptions used for any reporting of metal
		equivalent values should be clearly stated.

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

www.dreadnoughtresources.com.au

[email protected]

+61 (0) 428 824 343

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

Criteria		JORC Code explanation		Commentary
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 July 2021.
		large-scale step-out drilling).	•	Further FLEM surveys will	be
	•	Diagrams clearly highlighting the areas of possible		undertaken at Orion to define additional
		extensions, including the main geological		targets.
		interpretations and future drilling areas, provided this	•	DHEM will be undertaken once a crew
		information is not commercially sensitive.		is on site.

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

www.dreadnoughtresources.com.au

[email protected]

+61 (0) 428 824 343

AI assistant

DREADNOUGHT RESOURCES LTD Regulatory Filings 2021

64785_rns_2021-06-30_2fb63531-6db3-4dcb-9ffa-937da50d9bac.pdf

SULPHIDES INTERSECTED WITHIN THE RUINS DOLERITE IN FIRST HOLE AT TEXAS NI-CU-PGE

HIGHLIGHTS

Program at Texas and Orion Ni-Cu-PGE (E04/2315: 80%)

Program at Fuso and Paul’s Find Cu-Au (E04/2315: 80%)

Program at Chianti-Rufina Cu-Zn-Ag (E04/2508: 100%)

Ongoing and Upcoming Work Programs at Tarraji-Yampi:

Background on Tarraji-Yampi

Acknowledgements:

UPCOMING NEWSFLOW

Competent Person’s Statement

INVESTMENT HIGHLIGHTS

Kimberley Ni-Cu-Au Projects

Illaara Gold, VMS & Iron Ore Project

Mangaroon Ni-Cu-PGE, REE & 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

Dreadnought Resources Limited

AI assistant

DREADNOUGHT RESOURCES LTD — Regulatory Filings 2021

64785_rns_2021-06-30_2fb63531-6db3-4dcb-9ffa-937da50d9bac.pdf

SULPHIDES INTERSECTED WITHIN THE RUINS DOLERITE IN FIRST HOLE AT TEXAS NI-CU-PGE

HIGHLIGHTS

Program at Texas and Orion Ni-Cu-PGE (E04/2315: 80%)

Program at Fuso and Paul’s Find Cu-Au (E04/2315: 80%)

Program at Chianti-Rufina Cu-Zn-Ag (E04/2508: 100%)

Ongoing and Upcoming Work Programs at Tarraji-Yampi:

Background on Tarraji-Yampi

Acknowledgements:

UPCOMING NEWSFLOW

Competent Person’s Statement

INVESTMENT HIGHLIGHTS

Kimberley Ni-Cu-Au Projects

Illaara Gold, VMS & Iron Ore Project

Mangaroon Ni-Cu-PGE, REE & 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

Dreadnought Resources Limited

More from DREADNOUGHT RESOURCES LTD

DREADNOUGHT RESOURCES LTD Regulatory Filings 2021