DREADNOUGHT RESOURCES LTD — Share Issue/Capital Change 2022

Jul 14, 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 July 15, 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 $0.065 expiring 14	8,500,000	14/07/2022
to be confirmed	July 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

15/7/2022

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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")

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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

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----- Start of picture text ----- ASX +security code +Security descriptionNew class - code to be confirmed Unlisted options exercisable at $0.065 expiring 14 July2025+Security type ISIN codeOptionsDate the +securities the subject of this notification were issued14/7/2022Will all the +securities issued in this class rank equally in all respects from their issue date?YesWere any of the +securities issued to +key management personnel (KMP) or an +associate?NoHave you received confirmation from ASX that the terms of the +securities are appropriate and equitable underlisting rule 6.1?NoPlease provide a URL link for a document lodged with ASX setting out the material terms of the +securities beingissued.https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02301418-2A1259904?access_token=83ff96335c2d45a094df02a206a39ff4Options Details+Security currency Exercise price Expiry dateAUD - Australian Dollar AUD 0.06500000 14/7/2025Details of the existing class of +security that will be issued upon exercise or conversion of this new class ofcompany optionOtherDescriptionOrdinary fully paid shares----- End of picture text -----

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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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/2924-02301418-2A1259904?access_token=8 3ff96335c2d45a094df02a206a39ff4

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

Options are being issued under the employee option plan to new and current team members

Issue details

Number of +securities 8,500,000

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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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	2,838,683,551
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
DREAF : OPTION EXPIRING 01-OCT-2023 EX $0.01	2,750,000
DREAK : OPTION EXPIRING 26-NOV-2024 EX $0.06	2,000,000
DREAH : OPTION EXPIRING 31-OCT-2023 EX $0.02	750,000
DREAI : OPTION EXPIRING 02-JUL-2024 EX $0.04	16,500,000
New class - code to be confirmed : Unlisted options exercisable at $0.065 expiring 14 July	8,500,000
2025

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

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 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? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

13

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