DREADNOUGHT RESOURCES LTD — Share Issue/Capital Change 2023

Mar 2, 2023

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 March 03, 2023

The +securities the subject of this notification are: Other

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 $0.12 expiring 2	1,223,151	02/03/2023
to be confirmed	March 2026

Refer to next page for full details of the announcement

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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

3/3/2023

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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Other

Please specify

Pursuant to Appendix 3B lodged on the ASX on 2 March 2023.

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

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New +securities
ASX +security code +Security description
New class - code to be confirmed Unlisted options exercisable at $0.12 expiring 2 March
2026
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+Security type	ISIN code
Options
Date the +securities the subject of this notification were issued
2/3/2023
Will all the +securities issued in this	class rank equally in all respects from their issue date?
Yes
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.

Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.12000000 2/3/2026 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other Description DRE: ORDINARY FULLY PAID Any other information the entity wishes to provide about the +securities the subject of this notification

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

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Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Please refer to Appendix 3B lodged on the ASX on 2 March 2023.

Issue details Number of +securities 1,223,151 Were the +securities issued for a cash consideration? No

Please describe the consideration being provided for the +securities Issue of options pursuant to Director appointment agreement. Purpose of the issue Other Additional Details

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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	3,293,728,220
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	1,500,000
DREAA : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	50,000,000
DREAM : OPTION EXPIRING 16-DEC-2025 EX $0.1575	853,098
DREAN : PERFORMANCE RIGHTS	23,999,997
DREAK : OPTION EXPIRING 26-NOV-2024 EX $0.06	2,000,000
DREAI : OPTION EXPIRING 02-JUL-2024 EX $0.04	12,100,000
DREAL : OPTION EXPIRING 14-JUL-2025 EX $0.065	8,500,000
New class - code to be confirmed : Unlisted options exercisable at $0.12 expiring 2 March	1,223,151
2026

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? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

1,223,151

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

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