Dreadnought Resources (DRE) Investor update summary

Strategic focus and operational update

• Maintaining a strong cash position, with significant funds allocated to exploration and minimal overheads.

• Strategy centers on advancing high-grade gold deposits at Star of Mangaroon and Metzke's Find, aiming for near-term production and cash flow.

• Large-scale gold discovery targeted at Illaara Belt, with rigs on site and extensive Aircore drilling underway.

• Joint ventures and portfolio simplification continue, with focus on gold and critical metals.

Project milestones and timelines

• Star of Mangaroon: Approvals submitted, awaiting government response; production expected within 60 days of approval.

• Metzke's Find: Resource extension drilling commencing in March, aiming for production next year.

• Illaara Belt: Largest Aircore program in company history underway, targeting multi-million-ounce discovery.

• Gifford Creek: Major metallurgical program launched to unlock critical metals value, with results expected over 6–12 months.

Financial and shareholder considerations

• Focus on maximizing in-ground spend and minimizing corporate overheads as a key KPI.

• Surplus gold proceeds may be used for dividends or register tightening, but only after ensuring sufficient capital for growth.

• Strategic partnerships and potential asset spin-outs considered for critical metals, depending on market conditions.