DREADNOUGHT RESOURCES LTD — Interim / Quarterly Report 2021

Apr 29, 2021

30 April 2021

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31 MARCH 2021 QUARTERLY ACTIVITIES REPORT

HIGHLIGHTS

The Board of Dreadnought Resources Ltd (ASX:DRE) (“Dreadnought” or “the Company”) is pleased to provide a summary of activities for the quarter ended 31 March 2021. Activities and achievements during the quarter included:

Illaara Au-Cu-Iron Ore: A number of work programs commenced at Illaara during the quarter including:

• RC Drilling at Metzke’s Corridor – 24 holes for 3,513m of drilling at Metzke’s Find, Longmore’s Find, Black Oak, Bald Hill, and Little Dove.

• RC Drilling at Lawrence’s Corridor – 45 holes for 3,864m of drilling at 14 lithostructural-geochemical targets defined during the quarter.

• Regional soils survey to generate and define drill targets for gold, VMS base metals and LithiumCaesium-Tantalum (“ LCT ”) Pegmatites.

• Detailed airborne magnetics surveys and a trial Sub-Audio Magnetics (“ SAM ”) survey at Metzke’s Find.

Also, during the quarter Dreadnought reached an agreement with Newmont Corporation to reduce its net smelter royalty over certain tenements at Illaara from 2.5% to 1.0%.

Mangaroon Ni-Cu-PGE & Au: A detailed airborne magnetics and first pass soil survey commenced along the Money Intrusion to generate Ni-Cu-PGE targets. Subsequent to the end of quarter, Dreadnought entered into an Option/JV agreement over base metal rights with international miner First Quantum Minerals (“FQM”).

In addition to the base metal work, a first pass soil survey commenced along the Edmund and Minga Bar Faults to generate and define drill targets.

Tarraji-Yampi Ni-Cu-PGE & Au: Subsequent to the quarter, Dreadnought commenced geophysical and environmental surveys in preparation for drilling which is scheduled to commence in May/June 2021.

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Figure 1: Image of sample piles at Black Oak showing deep weathering above the ultramafic - sediment contact with several meters of massive sulphide (dark black piles near Dreadnought’s Luke Blais).

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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Activities at Lawrence’s Corridor (E30/476: 100%, E30/485: Option to acquire 100%)

Lawrence’s Corridor was defined by Newmont Corporation over a ~10km long camp scale anomaly situated over a major structural corridor at the southern end of the Illaara Greenstone Belt. Lawrence’s Corridor derives its name from Lawrence’s Find, a historical digging on a sugary quartz sulphide vein within sheared and biotite altered mafic amphibolites. Outside of the historical Lawrence’s Find workings, the Lawrence’s Corridor has received no significant exploration, nor effective historical drilling.

During the quarter, an infill soil sampling and airborne magnetics survey was completed which defined a number of gold targets. Immediately following the target definition results, a program of 45 holes for 3,864m of RC drilling was commenced to test 14 lithostructural – geochemical anomalies. All targets show encouraging signs of mineralisation under shallow colluvial cover associated with structural trends and high tenor gold-in-soil anomalies with pathfinder association (Bi, Cu, Hg, Tl, W +/- Ag, Te). No effective historical drilling had been undertaken at any of these targets.

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Figure 2: Plan view of the >10km long Lawrence’s Corridor highlighting gold-in-soil anomalies over a magnetics

image and the location of recent RC drilling.

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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Activities at Metzke’s Corridor (E29/957, E29/959, E29/1050: 100%)

Metzke’s Corridor was defined by Newmont Corporation over a ~10km long camp scale anomaly situated over a major structural corridor at the northern end of the Illaara Greenstone Belt. Metzke’s Corridor derives its name from Metzke’s Find, a historical digging on honey quartz sulphide veins within sheared and biotite altered mafic amphibolites. Outside of the historical Metzke’s Find workings, the Metzke’s Corridor had received no significant exploration, nor effective historical drilling until Dreadnought commenced exploration in 2019.

Since 2019, Dreadnought has generated, defined, and tested several targets producing near-surface, highgrade results at Metzke’s Find and Longmore’s Find. In addition, shallow oxide results at Black Oak are a product of deeper weathering and different lithological setting.

During the quarter, a program of 24 holes for 3,153m of RC drilling was commenced to test for extensions to Metzke’s Find, Longmore’s Find and Black Oak and to initially test the Bald Hill and Little Dove lithostructural – geochemical anomalies. In addition to the RC drilling, a detailed airborne magnetics

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survey was flown over Metzke’s Corridor and a SAM survey was undertaken over Metzke’s Find to test the technique’s suitability to define additional targets.

Figure 3: Plan view of >10km long Metzke’s Corridor highlighting gold-insoil anomalies over a magnetics image and the location of recent drilling (blue dots) at Metzke’s Find, Longmore’s Find, Black Oak and Bald Hill.

Dreadnought Resources Limited

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

+61 (0) 428 824 343

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

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Drilling at Metzke’s Find (E29/1050: 100%)

Gold mineralisation at Metzke’s Find has now been confirmed over a 400m strike length and to a depth of over 100m where it remains open. Mineralisation is contained within a 5-10m wide shear zone defined by biotite and sulphide alteration with high grades hosted in sugary quartz-sulphide veins within the shear. Previous intercepts include:

• MZRC030: 2m @ 10.8 g/t Au from 102m

• MZRC019: 2m @ 39.2 g/t Au from 45m

• MZRC021: 3m @ 13.8 g/t Au from 108m

• MZRC022: 2m @ 20.7 g/t Au from 19m

• MZRC028: 1m @ 10.9 g/t Au from 89m

• MZRC015: 1m @ 24.8 g/t Au from 51m

• MZRC016: 3m @ 21.0 g/t Au from 85m

• MZRC017: 7m @ 7.5 g/t Au from 51m

The plunge of the mineralisation has not yet been confirmed. Drilling to date indicates that the mineralisation is most likely plunging to the south.

Drilling at Metzke’s Find during the quarter consisted of 5 RC holes for 904m to test the plunge of mineralisation at depth.

All drill holes intersected the Metzke’s Shear identified by biotite and disseminated sulphide alteration of sheared mafic amphibolite with variable amounts of quartz-sulphide veining.

Assays are expected in May 2021.

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Figure 4: Long-section showing pierce points of recent drilling (white dots) at Metzke’s Find.

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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Drilling at Bald Hill and Little Dove (E29/957: 100%)

Bald Hill and Little Dove (see Figure 3) are broad gold-in-soil anomalies with strong pathfinder association over sheared mafic schist. Within the mafic schist are numerous foliation parallel honey quartz, sugary quartz and gossanous quartz veins. Some of the veins contain visible copper mineralisation and elevated Ag-As-Bi in association with elevated gold. Neither target had been drilled before.

Drilling at Bald Hill and Little Dove consisted of 3 RC fence lines (10 holes, 810m) to test peak gold-in-soil anomalies with coincident outcropping copper-gold mineralised veins.

Both Bald Hill and Little Dove drilling intersected broad zones of arsenopyrite, pyrite and pyrrhotite alteration within strongly sheared chlorite-biotite altered mafic rocks, including a less deformed quartz dolerite. Several holes intersected quartz-sulphide veins with the sulphide assemblage including arsenopyrite, chalcopyrite, bornite and pyrrhotite.

Assays are expected in May 2021.

Drilling at Longmore’s Find (E29/957: 100%)

Two rounds of RC drilling have been undertaken at Longmore’s Find to date (see Figure 3). All holes were drilled towards the east based on the dominant foliation and subcropping vein sets. Previous results include:

• LMRC005: 1m @ 100g/t Au from 56m

• LMRC014: 1m @ 5.8 g/t Au from 49m

• LMRC025: 1m @ 5.7 g/t Au from 66m

Drilling in the current program consisted of 2 RC holes for 162m drilled in a north-south orientation to test the interpretation that mineralised veins are running sub-parallel to previous drilling.

Drilling intersected quartz-sulphide-epidote veins in both holes with a potential steep southerly dipping interpretation.

Assays are expected in May 2021.

Drilling at Black Oak (E29/957: 100%)

Black Oak is a large coherent and high tenor gold-in-soil anomaly situated to the east of Metzke’s Find in a package of sheared sediments and ultramafic volcanics. First-pass drilling in 2020 confirmed thick, shallow oxide gold mineralisation within a deeper weathering profile. Accordingly, a deeper and widerspaced drill program was designed to test the extensions of oxide mineralisation as well as the sheared ultramafic-sediment contact which could potentially host fresh mineralisation.

The recent program consisted of 7 RC holes for 1,281m. Importantly, the recent drilling intersected thick oxide development over a sheared sediment-ultramafic contact with abundant massive sulphides (pyrite) within the shear and localised quartz sulphide (pyrite, chalcopyrite, arsenopyrite) veins within broad zones of disseminated sulphide.

Assays are expected in May 2021.

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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Illaara Regional Soils and Target Generation (E29/957, E29/959, E30/471, E30/476: 100%, E29/965, E30/485: Option to acquire 100%)

During the quarter, a regional soils program was completed which has successfully generated a number of wide spaced anomalies across Illaara. These anomalies will continue to be assessed and infill soil sampling undertaken. Five of the more advanced anomalies are discussed below being:

• CRA Homestead, Spitfire and Defiance gold anomalies;

• Nelson base metal anomaly; and

• Lawrence’s Corridor swarm of pegmatites with anomalous LCT values.

In addition to follow up infill soil sampling, an airborne magnetics survey will be extended over the remainder of Illaara to assist with lithostructural interpretation, target definition and target ranking.

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Figure 5:

regional soils program.

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

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CRA Homestead (E30/471: 100%)

In the late 1980’s, CRA Exploration (“CRA”) identified the Homestead prospect by defining a ~2,000m x 400m auger anomaly containing a >100ppb Au core over ~350m x 250m. The core is located along a significant bend in a major north-south orientated shear zone. In 1990, a RAB drilling program over the anomaly was unable to penetrate a ferricrete/silcrete layer rendering the RAB drilling ineffective.

In 2019, Dreadnought drilled 3 RC holes into the core intersecting a deep weathering profile, including low-grade supergene gold near the fresh rock interface with strongly sheared fuchsite, carbonate and pyrite-pyrrhotite altered ultramafic lithologies. However, the holes did not penetrate far enough into the fresh rock. Encouragingly, one hole did end in mineralisation. The combination of deep weathering, a highly altered shear zone and mineralisation at depth indicates potential for a large gold system at depth.

Wide spaced soil sampling over CRA Homestead has identified an extension of the high-grade gold-in-soil anomaly beyond the originally tested core with the anomaly apparently closed out due to paleo-drainage channels. Given the highly prospective lithostructural setting of CRA Homestead and confirmed oxide gold mineralisation, a combination of extensional soil surveys and aircore drilling will be designed to evaluate the prospect later in 2021.

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Figure 6: Plan view of CRA Homestead showing gold-insoil anomaly over magnetics and the location of previous drilling by Dreadnought.

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

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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Spitfire (E30/471: 100%, E30/485: Option to acquire 100%)

Spitfire is a ~2,000m x 600m gold-in-soil anomaly situated over a demagnetised folded banded iron formation (“BIF”) at the intersection of a NW trending fault. Spitfire was initially identified as an isolated anomaly and is located 16km south of and adjacent to the same shear as CRA Homestead. The gold-insoil anomaly represents a classic and attractive BIF hosted gold target.

Infill soil sampling is complete, with Spitfire now a late 2021 drill ready target.

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Figure 7: Plan view of Spitfire showing gold-in-soil anomaly over a magnetics image.

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

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+61 (0) 428 824 343

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Defiance (E30/471: 100%)

Defiance is an isolated 800m long gold-in-soil anomaly that remains open along strike to the north. It lies along the sheared eastern margin of the Illaara Greenstone Belt, located at a significant bend in the shear coinciding with the intersection of a NW trending fault. The gold-in-soil anomaly is hosted within quartzite and sheared metasedimentary rocks with abundant shear-parallel, iron oxide-stained, quartz veins.

Additional soil samples will be undertaken to extend the anomaly to the north and to infill an area of anomalism along a parallel shear located 800m to the west. The objective being to have the target drill ready by the end of 2021.

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Figure 8: Plan view of Defiance showing gold-in-soil anomaly over a magnetics image.

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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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Nelson Cu-Pb-Zn-Ag Target (E30/476: 100%)

Base metal volcanogenic massive sulphides (“VMS”) mineralisation has been identified and previously targeted within the Illaara Greenstone Belt by Electrolytic Zinc and BHP in the 1970s and 1980s.

During both the regional and infill sampling within the Lawrence’s Corridor, a 1,500m x 350m strong and coherent Cu-Pb-Zn-Ag anomaly with peak values of 364ppm Cu, 706ppm Pb, 1140ppm Zn and 665ppb Ag was defined within the western VMS horizon at the southern end of the Lawrence’s Corridor. This anomaly has a distinct and strong VMS pathfinder signature (Au, Cd, In, Sn, Tl) and will receive further target definition work.

LCT Pegmatite Anomalies (E30/476: 100%)

During a review of the multi-element results, a strong and coherent 5,000m x 1,000m LCT pegmatite anomaly (Li-Cs-Ta-Nb-Rb-Be-Sn) was noted in the southern area of the Lawrence’s Corridor associated with a felsic intrusion. Reconnaissance mapping of the area during the course of drilling has confirmed the presence of a large pegmatite dyke swarm associated with the anomalism.

Pegmatites over 10m thick have been observed outcropping over several hundred meters in length. A systematic rock chipping program has been undertaken over the dyke swarm to assess the potential of the LCT pegmatites.

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Figure 9: Dreadnought’s Nick Chapman and Luke Blais inspecting and sampling a large pegmatite within the Lawrence’s pegmatite swarm.

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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Mangaroon Ni-Cu-PGE-Au Project (E08/3178, E08/3274, E08/3275, E09/2370, E09/2384, E09/2433, E09/2448, E09/2449, E09/2450, E09/2467, E09/2473, E09/2478: 100%)

The Mangaroon Ni-Cu-PGE-Au project covers >4,000 sq kms of the Mangaroon Zone in the Gascoyne Province of Western Australia. The Mangaroon Zone is host to high-grade gold mineralisation and outcropping Ni-Cu-PGE mineralisation.

During the quarter, target generation and definition work commenced over the Money Intrusion (Ni-CuPGE) and the Edmund and Minga Bar Faults (Au). The work program consists of ~4,000 soil samples and a detailed airborne magnetic survey over the Money Intrusion.

Subsequent to the end of quarter, FQM entered into an Option/JV agreement regarding the base metal rights over five tenements at Mangaroon. The Option provides FQM with the right, following the completion of an exploration program funded by FQM, to earn a 51% interest in Mangaroon by spending $15m and a further 19% interest by sole funding all expenditure up until a Decision to Mine. Dreadnought will manage activities during the option period and retains certain rights in relation to any gold discovery.

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Figure 10: Plan view of Mangaroon showing the location of exploration targets and regionally significant projects over solid geology.

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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- Tarraji Yampi (E04/2315) 80% and (E04/2508) 100%

No work was undertaken during the quarter due to the Kimberley wet season.

Subsequent to the end of quarter, geophysical and environmental surveys commenced ahead of planned drilling.

RC and diamond drilling at the Tarraji-Yampi Project is scheduled to commence from May/June 2021, after the Kimberley wet season. Drilling is planned for the Texas and Orion Ni-Cu-PGE, Fuso and Paul’s Find CuAu and Chianti-Rufina Cu-Pb-Zn-Ag Targets.

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Figure 11: Plan view of Tarraji-Yampi showing exploration targets over solid geology.

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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Rocky Dam (E25/533) (100%)

No work was undertaken during the quarter. Rocky Dam is currently under review to determine the next steps forward.

CORPORATE

Corporate activities subsequent to the end of the quarter include:

• A capital raising of $3,000,000 (before costs) from professional and sophisticated investors through the issue of 166.67M shares at $0.018 per share (Placement).

• A successful Share Purchase Plan (SPP) to raise up to $500,000 via the issue of shares at the Placement price of $0.018.

• A total of 12m options were exercised early during the quarter by Directors for $110,000 bringing their total investment in the company to ~$1.3m.

• Convertible Note Holders agreed to extend the Convertible Note maturity date by 12 months to 1 July 2022.

Appendix 5B Disclosures:

The Company’s accompanying Appendix 5B (Quarterly Cashflow Report) includes the Executive Director salary (including superannuation) of $17k (Item 6.1) and $46k (Item 6.2) which were apportioned between corporate and exploration work respectively.

During the period, the Company spent $1.4m on exploration activities in WA. The expenditure represents direct costs associated with the various surveys, drilling programs and associated assays outlined in this report.

During the quarter, the company came to an agreement with Newmont Corporation to reduce the net smelter royalty over four tenements at Illaara from 2.5% to 1.0% for a cash consideration of $150,000.

At the end of the quarter, the Company had an amount of $1.03m cash at bank.

ASX Announcements

During the quarter, the Company made 16 ASX announcements, 12 of which were market sensitive. These announcements were as follows:

25/03/2021	Illaara Update and Drilling Commenced at Lawrence’s Corridor
18/03/2021	Australian Energy & Minerals Investor Conference
15/03/2021	Exploration Commences at Mangaroon Ni-Cu-PGE & Au Project
10/03/2021	Drilling Commenced Illaara Update and Planned Lawrence’s Corridor Drilling
02/03/2021	Drilling Commenced at Illaara Gold-VMS-Iron Ore Project
24/02/2021	Reduction in Royalty – Illaara Greenstone Belt
16/02/2021	RIU Fremantle Presentation
16/02/2021	Significant Soil Anomalies Along Lawrence’s Corridor
29/01/2021	Quarterly Presentation
29/01/2021	Quarterly Cashflow Report
29/01/2021	Quarterly Activities Report
12/01/2021	Longmore’s Find Assay Results

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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UPCOMING NEWSFLOW

May: Results from RC drilling at Illaara (Black Oak, Bald Hill, Lawrence’s Corridor, Metzke’s Find, Longmore’s Find)

May: Results of target definition and generation work at Mangaroon Ni-Cu-PGE & Au Project

May: Results of three FLEM surveys over Orion

6 May: RIU Sydney Resources Round Up presentation

May/June: Commencement of diamond drilling at Texas Ni-Cu-PGE target at Tarraji-Yampi

May/June: Results from target definition and generation work at Mangaroon Ni-Cu-PGE & Au Project

June: Commence RC drilling at Orion Ni-Cu-PGE, Fuso and Paul’s Find Cu-Au and Chianti-Rufina VMS targets

July: Quarterly Activities and Cash flow Report

July/August: Results of drilling at Tarraji-Yampi (Texas and Orion Ni-Cu-PGE, Fuso and Paul’s Find Cu-Au, 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: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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SCHEDULE OF INTERESTS IN MINING TENEMENTS As at 31 March 2021

Tenement	Project	Location	Status	Interest Start ofQuarter	Interest End ofQuarter
E04/2315 Tarraji Kimberley,WA Granted 80% 80%1
E04/2508 Yampi Kimberley,WA Granted 100% 100%
E04/2557 Yampi Kimberley,WA Granted 100% 100%
E04/2572 Yampi Kimberley,WA Granted 100% 100%
E04/2608 Yampi Kimberley,WA Granted 100% 100%
E04/2675 Yampi Kimberley,WA Application - -
E04/2676 Yampi Kimberley,WA Application - -
E04/2560 Wombarella Kimberley,WA Granted 100% 100%
E04/2573 West Kimberley Kimberley,WA Granted 100% 100%
E04/2574 West Kimberley Kimberley,WA Application - -
E80/5363 South Kimberley Kimberley,WA Granted2 -2 100%2
E80/5364 South Kimberley Kimberley,WA Application - -
E80/5365 South Kimberley Kimberley,WA Application - -
E80/5366 South Kimberley Kimberley,WA Application - -
E29/957 Illaara Yilgarn,WA Granted 100% 100%
E29/959 Illaara Yilgarn,WA Granted 100% 100%
E29/965 Illaara Yilgarn,WA Granted 0% 0%3
E29/1050 Illaara Yilgarn,WA Granted 100% 100%
E30/471 Illaara Yilgarn,WA Granted 100% 100%
E30/476 Illaara Yilgarn,WA Granted 100% 100%
E30/485 Illaara Yilgarn,WA Granted 0% 0%3
E25/533 RockyDam Goldfields,WA Granted 100% 100%
E25/599 RockyDam Goldfields,WA Application - -
E27/611 RockyDam Goldfields,WA Granted 100% 100%
E27/612 RockyDam Goldfields,WA Granted 100% 100%
E27/634 RockyDam Goldfields,WA Application - -
E28/2988 RockyDam Goldfields,WA Granted2 -2 100%2
E28/2996 RockyDam Goldfields,WA Application - -
E28/2997 RockyDam Goldfields,WA Application - -
E28/3000 RockyDam Goldfields,WA Application - -
E28/3001 RockyDam Goldfields,WA Application - -
E28/3061 RockyDam Goldfields,WA Application - -
E09/2370 Mangaroon Gascoyne,WA Granted 100% 100%
E09/2384 Mangaroon Gascoyne,WA Application - -
E09/2433 Mangaroon Gascoyne,WA Application - -
E09/2448 Mangaroon Gascoyne,WA Application - -
E09/2449 Mangaroon Gascoyne,WA Application - -
E09/2450 Mangaroon Gascoyne,WA Application - -
E09/2467 Mangaroon Gascoyne,WA Application - -
E09/2473 Mangaroon Gascoyne,WA Application - -
E09/2478 Mangaroon Gascoyne,WA Application - -
E08/3178 Mangaroon Gascoyne,WA Application - -
E08/3274 Mangaroon Gascoyne,WA Application - -
E08/3275 Mangaroon Gascoyne,WA Application - -

1. E04/2315 subject to an 80/20 JV with Whitewater Resources Pty Ltd.

2. Granted during the quarter.

3. Subject to an option agreement (ASX Release 6/12/2019 “Consolidation of 75km Long Illaara Greenstone Belt”)

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 1900s which have seen no modern exploration.

Three styles of mineralisation occur at Tarraji-Yampi including: volcanogenic massive sulphide (“ VMS ”); Proterozoic CuAu (“ IOCG ”); and magmatic sulphide Ni-CuPGE. 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 & Au Project

Mangaroon is a first mover opportunity covering ~4,000sq kms of tenure located 250kms southeast of Exmouth in the Gascoyne Region of Western Australia. Mangaroon is prospective for magmatic Ni-Cu-PGE mineralisation and high grade gold with evidence of both outcropping within the project area and virtually unexplored for the past 40 years.

Rocky Dam Gold & VMS Project

Rocky Dam is located 45kms east of Kalgoorlie in the Eastern Goldfields Superterrane of Western Australia. Rocky Dam is prospective for typical Archean mesothermal lode gold deposits and Cu-Zn VMS mineralisation. Rocky Dam has known gold and VMS occurrences with drill ready gold targets including the recently defined CRA-North Gold Prospect.

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