Dreadnought Resources (DRE) Corporate Presentation summary

Strategy and transformation

• Transitioning to a self-funded explorer, focusing on high-grade gold at Mangaroon and commercialising critical metals assets.

• Over 85% of capital raised has been spent directly on exploration activities.

• Strategy includes outsourcing funding, development, and processing to third parties, with Black Cat Syndicate taking an equity stake for gold development rights.

• Commercialisation and discovery efforts are increasingly funded by joint ventures and asset sales.

• Streamlining the portfolio to focus on near-term production and high-impact exploration.

Financials and capital structure

• Market capitalisation of approximately $45.3M with a share price of $0.012 as of January 2025.

• Cash position of ~$0.6M at the end of December 2024.

• Board and management own ~15% of shares, with $7.0M invested.

• Average daily liquidity is ~$50k over the past 90 days.

Star of Mangaroon gold project

• Initial resource of 23,300oz at 12.8g/t Au (84% Indicated) defined within 100m of surface.

• Robust scoping study projects ~$40M free cashflow at $4,100/oz gold price, with a max cash drawdown of ~$10M.

• Free cash flow could reach ~$50M at a forward gold price of $4,600/oz.

• Mining and trucking to be outsourced, with processing at Paulsens Gold Operation.

• Additional ounces targeted from Popeye and other granted mining leases; follow-up drilling planned for March/April 2025.