Dreadnought Resources Provides Rare Earth Ironstone and Drilling Update at Mangaroon Project

Mangaroon, Gascoyne Region, Western Australia - Dreadnought Resources Limited ("Dreadnought") is pleased to announce significant progress in their drilling activities at the Yin Ironstone Complex and the C1-C5 carbonatites, part of the 100% owned Mangaroon Project located in Western Australia.

Exceptional Intercepts and Resource Estimates

In July 2022, initial discovery drilling at the Yin Ironstone Complex yielded extraordinary results, with the thickest and highest-grade rare-earth ironstone intercepts seen in over 35 years of exploration at the Gifford Creek Carbonatite Complex. Over the next 12 months, Dreadnought made several notable announcements, including two JORC 2012

Mineral Resource ("Resource") estimates at Yin for 20. 06Mt @ 1. 03% TREO (ASX 5 Jul 2023). Moreover, an Exploration Target* of 50-100Mt of 0. 9-1.

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2% TREO on the ~43km long Yin trend was identified (ASX 13 Feb 2023). Additionally, rare earth ironstone discoveries were made at Sabre, Y8, and Y2, along with high-grade rare earth and niobium zones at the C3 and C5 carbonatites.

Confirmation of Mineralization and New Intercepts

Recent completion of the first pass, wide-spaced (400m x 40m) RC drilling along the ~43km Yin trend confirmed approximately 16 km of mineralised ironstones.

Within the ~16km of mineralised ironstones, ~5-6kms of high NdPr:TREO ratio mineralization is being infill drilled (100m x 40m and 50m x 40m) to support a third Resource update scheduled for the December 2023 quarter. This Resource update will serve as the foundation for an initial Scoping Study.

Expansion of Carbonatite Potential

Ongoing first pass, wide-spaced (160m x 160m) RC drilling at the C1-C5 carbonatites has confirmed an extension of the carbonatites over an additional 3kms, bringing the dimensions to approximately 9km x 1km. The initial Resource for C3 remains on track for August 2023.

Encouraging Outlook and Future Discoveries

Dean Tuck, Managing Director of Dreadnought Resources, expressed his satisfaction with the progress made in their drilling activities. He highlighted the completion of infill drilling at Yin, the ongoing expansion of the carbonatites at C1-C5, and the upcoming resource estimates for C3. These achievements will significantly contribute to future studies and provide further opportunities for new discoveries. Dreadnought Resources remains optimistic about the potential of the Mangaroon Project and looks forward to unveiling additional findings in the future.

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