Ann: Mangaroon North Ni-Cu-Pt-Pd-Au Project, page-2

Dreadnought ann today

19 July 2021

HIGH-GRADE REE IRONSTONES CONFIRMED OVER 2.5KMS AT MANGAROON

HIGHLIGHTS

• High-grade Rare Earth Element (“REE”) ironstones confirmed over ~2.5kms of strike at the Yin

  Prospect (Dreadnought 100%), located ~15kms southwest of the Yangibana REE Project (“Yangibana”) which is currently under construction and development by Hastings Technology Metals Limited (ASX:HAS, “Hastings”). Significant rock chips results include:

  • MNRK292: 7.50% TREO, including 2.73% Nd2O3+Pr6O11

  • MNRK288: 4.77% TREO, including 1.84% Nd2O3+Pr6O11

  • MNRK290: 4.76% TREO, including 1.73% Nd2O3+Pr6O11

• The total rare earth oxides (“TREO”) and the Nd2O3+Pr6O11 results from Yin exhibit similar mineralogical characteristics to Yangibana. In addition, samples have also been submitted to confirm similar metallurgical characteristics.

• A ground magnetic survey confirms the Yin ironstones continue under shallow cover between outcrops. A detailed airborne magnetic-radiometric survey will be flown over all twelve of the currently identified REE prospects in the December 2021 quarter.

  Dreadnought Resources Limited (“Dreadnought”) is pleased to announce that it has received additional high-grade REE assays covering ~2.5kms of ironstone outcrops at Yin. Results indicate that the ironstones are similar to those seen at Yangibana.

  To date, twelve REE prospects have been identified, based on wide spaced radiometric anomalies coincident with apparent ironstone outcrops. Eleven of these REE prospects remain to be inspected.