DREADNOUGHT RESOURCES LTD — Share Issue/Capital Change 2015

Sep 10, 2015

Notification of Consolidation/Split

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Notification of Consolidation/Split

Announcement Summary

Entity name

TYCHEAN RESOURCES LTD

Applicable security for the reorganisation

TYK ORDINARY FULLY PAID TYKOB OPTION EXPIRING 04-JUN-2016

Announcement Type

New Announcement

Date of this announcement Friday September 11, 2015

Reorganisation type

Security consolidation Effective Date Friday October 23, 2015

Record Date

Tuesday October 27, 2015

Issue Date

Wednesday November 4, 2015

Refer to below for full details of the announcement

Announcement Details

Part 1 - Entity and announcement details

*1.1 Name of +Entity

TYCHEAN RESOURCES LTD

Registration Number

*1.2 Registered Number Type

ABN 40119031864

*1.3 ASX issuer code

TYK

*1.4 The announcement is

New announcement

*1.5 Date of this announcement

Friday September 11, 2015

*1.6 Securities affected by the reorganisation

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Notification of Consolidation/Split

ORDINARY FULLY PAID OPTION EXPIRING 04-JUN-2016

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TYK TYKOB

Part 2 - Approvals

*2.1 Are any of the below approvals required for the reorganisation before business day 0 of the timetable?

• Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval

• FIRB approval

• Another approval/condition external to the entity required to be given/met before business day 0 of the timetable for the reorganisation.

Yes

2.2 Approvals

**Approval/Condition Date for determination Is the date estimated Approval +Security holder Wednesday October or actual? received/condition approval 21, 2015 Actual met? [Select...] Comments

Part 3 - Reorganisation timetable and details

*3.1 +Record date

Tuesday October 27, 2015

3.2 Date of +security holder meeting

Wednesday October 21, 2015

3.3 Last day for trading in the pre-re-organised +securities

Thursday October 22, 2015

*3.4 Effective date. Trading in the re-organised securities commences on a +deferred settlement basis. If the +entity's securities are suspended from trading during this period there will be no +deferred settlement trading however ASX still captures this date.

Friday October 23, 2015

3.5 Record date

Tuesday October 27, 2015

3.6 First day for +entity to send notices to +security holders of the change in the number of +securities they hold. First day for +entity to register +securities on a post-reorganised basis Wednesday October 28, 2015

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*3.7 +Issue date. +Deferred settlement market ends. Last day for +entity to send notices to

+security holder of the change in the number of +securities they hold. Last day for +entity to register +securities on a post-reorganised basis

Wednesday November 4, 2015

3.8 Trading starts on a normal T+3 basis

Thursday November 5, 2015

3.9 First settlement of trades conducted on a +deferred settlement basis and on a normal T+3 basis

Tuesday November 10, 2015

Part 4 - Reorganisation type and details

*4.1 The reorganisation is

+Security consolidation

*4.1a Consolidation ratio: the +securities will be consolidated on the basis that every

10

(pre-consolidation) +securities will be consolidated into

1

(post-consolidation) +security (/ies).

*4.2 Scrip fraction rounding

Fractions rounded up to the next whole number

Part 5 - +Securities on issue before and after reorganisation

*5.1 +Securities on issue before and after the reorganisation

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----- Start of picture text ----- *ASX +Security Code *ASX +SecurityTYK DescriptionORDINARY FULLYPAIDQuoted/unquoted Number on issue Number on issue after Estimate/ActualQuoted before reorganisation reorganisation Estimated2,506,582,518 250,658,252*ASX +Security Code *ASX +SecurityTYKOB DescriptionOPTION EXPIRING04-JUN-2016Quoted/unquoted Number on issue Number on issue after Estimate/ActualQuoted before reorganisation reorganisation Estimated167,699,726 16,769,9735.2 *Exercise price of options*ASX +Security Code *ASX +Security DescriptionTYKOB OPTION EXPIRING04-JUN-2016----- End of picture text -----

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Quoted/unquoted Exercise price before Exercise price after Quoted reorganisation reorganisation AUD 0.00400000 AUD 0.04000000

Part 6 - Further information

6.1 Further information relating to the reorganisation

6.2 Additional information for inclusion in the Announcement Summary

Notification of Consolidation/Split

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