Dreadnought Resources (DRE) investor relations material

Financial position and funding

• Fully funded with $10 million cash, enabling significant exploration and development activities, including advancing Star of Mangaroon to production and generating cash flow.

• New major shareholders have joined, supporting the strategy to accelerate gold discoveries.

• No plans for share consolidation; share base increased from 1 to 5 billion since 2019, with dilution managed through multiple small capital raises.

• Funding for Star of Mangaroon development is being considered via revenue-sharing JV or debt facilities, not further equity raises.

• Excessive dilution is being avoided by focusing on alternative funding and incoming cash flow.

Project development and production outlook

• Star of Mangaroon resource stands at 23,000 ounces at 12.8 g/t, with a scoping study indicating $50 million free cash flow over 12 months and a $10 million max cash drawdown.

• Infill drilling and grade control are ongoing, with updated resource and mine plan expected soon.

• Mining, haulage, and processing agreements are being finalized, with mining approvals targeted by year-end and production to commence shortly after.

• Cash flow from Star of Mangaroon is expected to be realized throughout 2026, with a nine to twelve month operation post-groundbreaking.

• Additional near-term production ounces are being pursued at Pritchard's, Lead Mine, and Popeye, with improved assay techniques showing promise.

Exploration and discovery strategy

• Aggressive drilling planned across Mangaroon and Alara, targeting major gold discoveries over the next 12 months.

• Five significant camp-scale prospects identified at Mangaroon, with ongoing soil and stream sediment surveys to refine targets.

• Multiple drill programs scheduled at Mangaroon before year-end, followed by a major aircore program at Alara.

• Metzky's Find (15,000 oz at 6.8 g/t) to be extended, with a mining lease application imminent.

• Exploration at Alara is prioritized after Mangaroon, leveraging improved funding and infrastructure.