Some more detail on the T-Ydrilling program getting underway...

Some more detail on the T-Ydrilling program getting underway next week. Info posted on Dreadnought's investor hub this afternoon.

All of our drill holes are currently planned around 150-600m in depth with most holes between 150-250m. These depths will be adjusted once exact hole locations are pegged and fed back into the EM models to ensure correct dips, azimuths and depths. These planned depths are generally to near centre or just above the centre of modelled plates.

The Orion Extension hole to test the deeper magnetic anomaly is the deepest hole at ~620m based on current planning. That hole should test three prospective horizons (An upper horizon which hit some mineralisation last program, the main Orion horizon and the untested “Orion Repeat” horizon deeper down (which you can see in Figure 3).As far as generative work goes as part of this program is the IP survey which is set to commence in the next week or two. The intent of this survey is to fingerprint Grants, and then search for a Grant’s like Cu-Au Epithermal target shallow undercover. Grant’s has decent copper mineralisation and sticks out of the ground due to the amount of silica and quartz. If there was more chalcopyrite and less silica and quartz, it probably wouldn’t stick out of the ground. Hence our desire to trial the IP to look for potentially higher-grade Grant’s like lodes.

The 2 early-stage camps Neptune and Mangrove. Neptune requires additional auger sampling which will be planned for later this year. Mangrove is an area that we have not done much work on but ticks a lot of the “fertile zone” elements for VMS mineralisation on the back of our reviews. We have interpreted some mafic horizons from the magnetics data (none have been mapped there before) and work there will focus on mapping and assessing the prospectivity and applicability of auger sampling. In particular here we are looking for confirmation of mafic horizons as a requirement for the VMS fertility and an assessment of outcrop / cover to see if auger is required.

The 9 advanced targets will be reviewed following the results of these first Phase 1 drill holes. OR5 has a similar magnetic anomaly to Orion which previous drilling has not explained. This magnetic anomaly will be modelled with the petrophysical data we have acquired from last years diamond drilling to define a target. And Ironclad will be covered by the IP and the EM, placing the loop further to the west where the prospective horizon comes near surface, if time allows.