DREADNOUGHT RESOURCES LTD — Share Issue/Capital Change 2022

Dec 15, 2022

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

DREADNOUGHT RESOURCES LTD

Date of this announcement

Friday December 16, 2022

The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Unlisted options exercisable at $0.1575 expiring	853,098	16/12/2022
to be confirmed	16 December 2025
New class - code	Class A Performance Rights Expiring 30 June	10,183,335	16/12/2022
to be confirmed	2023
New class - code	Class B Performance Rights Expiring 30 June	10,183,335	16/12/2022
to be confirmed	2024
New class - code	Class C Performance Rights Expiring 30 June	10,183,330	16/12/2022
to be confirmed	2025

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

DREADNOUGHT RESOURCES LTD

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

40119031864

1.3 ASX issuer code

DRE

1.4 The announcement is

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New announcement

1.5 Date of this announcement

16/12/2022

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

New +securities issued under an +employee incentive scheme

ASX +security code New class - code to be confirmed	+Security description Unlisted options exercisable at $0.1575 expiring 16 December 2025	+Security description Unlisted options exercisable at $0.1575 expiring 16 December 2025
+Security type	ISIN code
Options
Date the +securities the subject of this notification were issued
16/12/2022
Will all the +securities issued in this	class rank equally in all respects from their issue date?
Yes
Were any of the +securities issued to +key management personnel (KMP) or an +associate?
Yes
Provide details of the KMP or +associates being issued +securities.
Name of KMP	Name of registered holder	Number of +securities
Philip Crutchfield	P D Crutchfield Pty Ltd Super Fund A/C>	853,098
Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under
listing rule 6.1?
No
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being
issued. https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02591584-6A1119510?access_token=8 3ff96335c2d45a094df02a206a39ff4
Options Details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.15750000	16/12/2025
Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
company option
Other

Notification of Issue, Conversion or Payment up of Unquoted 4 / 11 E it S iti

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Description

DRE: ORDINARY FULLY PAID

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02591584-6A1119510?access_token=8 3ff96335c2d45a094df02a206a39ff4

Any other information the entity wishes to provide about the +securities the subject of this notification

Options issued subsequent to shareholder approval at the 2022 Annual General Meeting.

Issue details

Number of +securities

853,098

New +securities issued under an +employee incentive scheme

ASX +security code +Security description New class - code to be confirmed Class A Performance Rights Expiring 30 June 2023 +Security type ISIN code Other

Date the +securities the subject of this notification were issued

16/12/2022

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Dean Tuck	Mr Dean Tuck + Dianne Mae Tuck	1,666,666
Paul Chapman		300,000

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Stone Poneys Nominees Pty Ltd Philip Crutchfield P D Crutchfield Pty Ltd

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02591584-6A1119510?access_token=8 3ff96335c2d45a094df02a206a39ff4

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02591584-6A1119510?access_token=8 3ff96335c2d45a094df02a206a39ff4

Any other information the entity wishes to provide about the +securities the subject of this notification

Vest upon The Company announcing a resource in accordance with the JORC Code of at least the inferred category of 10Mt @ >1% Total Rare Earth Oxide (TREO) by 31 December 2022.

The performance rights have been issued to employees and Directors under the employee incentive scheme. Director participation was approved by shareholders at the 2022 Annual General Meeting.

Issue details

Number of +securities

10,183,335

New +securities issued under an +employee incentive scheme

ASX +security code +Security description

New class - code to be confirmed Class B Performance Rights Expiring 30 June 2024

+Security type ISIN code

Other

Date the +securities the subject of this notification were issued

16/12/2022

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Dean Tuck	Mr Dean Tuck + Dianne Mae Tuck	1,666,667
Paul Chapman	Stone Poneys Nominees Pty Ltd	300,000
Philip Crutchfield	P D Crutchfield Pty Ltd Super Fund A/C>	300,000

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02591584-6A1119510?access_token=8 3ff96335c2d45a094df02a206a39ff4

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02591584-6A1119510?access_token=8 3ff96335c2d45a094df02a206a39ff4

Any other information the entity wishes to provide about the +securities the subject of this notification

Vest upon The Company announcing a resource in accordance with the JORC Code of at least the inferred category of 20Mt @ >1% TREO by 31 December 2023.

The performance rights have been issued to employees and Directors under the employee incentive scheme. Director participation was approved by shareholders at the 2022 Annual General Meeting.

Issue details

Number of +securities

10,183,335

New +securities issued under an +employee incentive scheme

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Notification of Issue, Conversion or Payment up	of Unquoted Equity Securities
ASX +security code New class - code to be confirmed	+Security description Class C Performance Rights Expiring 30 June 2025
+Security type	ISIN code
Other

Date the +securities the subject of this notification were issued

16/12/2022

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Dean Tuck	Mr Dean Tuck + Dianne Mae Tuck	1,666,667
Paul Chapman	Stone Poneys Nominees Pty Ltd	300,000
Philip Crutchfield	P D Crutchfield Pty Ltd Super Fund A/C>	300,000

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02591584-6A1119510?access_token=8 3ff96335c2d45a094df02a206a39ff4

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02591584-6A1119510?access_token=8 3ff96335c2d45a094df02a206a39ff4

Any other information the entity wishes to provide about the +securities the subject of this notification

Vest upon the Company announcing a resource in accordance with the JORC Code of at least the inferred category of 30Mt @ >1% TREO by 31 December 2024.

The performance rights have been issued to employees and Directors under the employee incentive scheme. Director participation was approved by shareholders at the 2022 Annual General Meeting.

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Issue details

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Number of +securities

10,183,330

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
DRE : ORDINARY FULLY PAID	3,073,711,551
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
DREAJ : OPTION EXPIRING 11-AUG-2024 EX $0.06	2,000,000
DREAD : OPTION EXPIRING 30-JUN-2024 EX 0.5C	3,500,000
DREAA : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	50,000,000
DREAK : OPTION EXPIRING 26-NOV-2024 EX $0.06	2,000,000
DREAI : OPTION EXPIRING 02-JUL-2024 EX $0.04	14,100,000
DREAL : OPTION EXPIRING 14-JUL-2025 EX $0.065	8,500,000
New class - code to be confirmed : Unlisted options exercisable at $0.1575 expiring 16	853,098
December 2025
New class - code to be confirmed : Class A Performance Rights Expiring 30 June 2023	10,183,335
New class - code to be confirmed : Class B Performance Rights Expiring 30 June 2024	10,183,335
New class - code to be confirmed : Class C Performance Rights Expiring 30 June 2025	10,183,330

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

30/11/2022

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