Strong Drilling Results from Tarraji-Yampi (80%, 100%)

Dreadnought Resources Limited (“Dreadnought”) is pleased to announce results from a diamond drilling program and down hole EM (“DHEM”) surveys at Tarraji-Yampi, located in the Kimberley Region of Western Australia.

HIGHLIGHTS

Assays from a diamond drilling program (6 holes, 1,524.8m) at Tarraji-Yampi have been received. These holes were designed to test 6 Cu-Au volcanogenic massive sulphide (“VMS”) targets around the Orion deposit and to identify potential off-hole conductors.
Significant results were returned from the Orion, Orion Repeat, Orion Offset and OR1 targets:

Orion and Orion Repeat: KMDD001: 3m @ 4.5% Cu, 2.2g/t Au, 46.0 g/t Ag, 0.15% Co from 58.3m

And: 16m @ 0.7% Zn, 0.7% Pb, 12.7g/t Ag, 0.1g/t Au from 162m
Including:2m @ 2.6% Zn, 1.1% Pb, 26.8g/t Ag, 0.1g/t Au from 173m

Orion Offset: KMDD004: 5m @ 0.4% Cu, 0.5 g/t Ag from 11m

And: 1m @ 1.3% Zn, 0.7% Pb, 32.2g/t Ag, 0.1g/t Au from 23m

And a 50,000S conductor spanning ~150m x 150m, located ~100m down dip

And: 2m @ 0.9% Zn, 0.2% Pb, 3.8g/t Ag from 106m

And a 15,000S conductor spanning ~90m x 140m located ~80m down dip

OR1: KMDD006: 6m @ 1.2% Cu, 0.08% Co from 27m

Including: 2m @ 2.0% Cu, 0.19% Co from 28m

And a 24,300S conductor spanning ~80m x 200m, located ~180m down dip

Additionally, a strong 14,500S off hole conductor spanning ~335m x 350m was defined at OR2.Results from the regional IP survey are expected in October 2024.

Dreadnought’s Managing Director, Dean Tuck, commented: “This drilling program was designed to identify new zones of mineralisation within and around the same feeder structures as Orion to better understand the Cu-Au VMS system. This program has delivered 6 new zones of mineralisation and four off-hole conductors that warrant follow up drilling. This is a successful outcome for the program and validation of the VMS model of mineralisation. As part of this program, an EIS co-funded IP survey was undertaken to test the effectiveness of IP at identifying Grant’s Find style Epithermal / Mesothermal Cu-Au mineralisation. The significant intersection of this style of mineralisation at OR1 underscores the importance of this work and we expect the results of that survey in October 2024.”

Technical Discussion of Diamond Drilling

In the Phase 1 drill program (6 holes, 1,640m), 5 of the 6 targets were located along the same interpreted feeder structure as the Orion deposit and were defined by highly conductive, magnetic anomalies associated with elevated pathfinder geochemistry. These targets include the depth extension of Orion. The 6-hole Phase 1 drill program targets are discussed and summarised below.

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