Dreadnought Resources (DRE) Investor Update summary

Financial position and funding

• Fully funded with $10 million cash, enabling extensive exploration and development activities.

• No plans for share consolidation; 5 billion shares on issue, with dilution managed through small, incremental raises.

• Star of Mangaroon development funding options include a revenue-sharing JV with Black Cat Syndicate or debt facilities, with no further equity raise planned.

• Current funds are allocated to gold strategy; critical metals projects will seek commercial partners or future internal funding.

Project updates and operational progress

• Star of Mangaroon infill drilling is progressing, with updated resource and mine plan expected soon.

• Mining approval anticipated by year-end, with production and cash flow expected throughout 2026.

• Additional drilling at prospects like Pritchard’s Well and Popeye aims to add near-term production ounces.

• Exploration at Mangaroon and Alara will intensify, with multiple drill programs planned before year-end.

Exploration and discovery strategy

• Focus remains on gold, with aggressive drilling at Mangaroon and Alara targeting significant discoveries.

• Five large-scale camp prospects identified at Mangaroon, with soil and stream sediment surveys ongoing.

• Early results at Steve’s Reward are promising, with further drilling to expand the resource.

• Alara project to see major aircore drilling, targeting underexplored greenstone belt potential.