Promising Junior Explorer Poised for Major Rare Earth and Gold Discoveries

Dreadnought Resources is an ambitious and driven junior exploration company focused on making significant new mineral discoveries in Western Australia. Led by a highly experienced team of geologists with extensive knowledge of WA geology, Dreadnought has rapidly expanded its project portfolio over the past three years and is now poised to deliver major discoveries in rare earth elements (REE), gold, nickel, and other metals.

Unlike many junior explorers, Dreadnought is not looking to develop mines themselves but rather to make significant discoveries and then partner with major mining companies to develop projects. This allows Dreadnought to retain its tight-knit technical team to focus on repeat exploration success across multiple commodities. The company believes this is a key advantage, as junior explorers have historically accounted for the majority of big discoveries in Australia despite limited budgets. Majors tend to rely on juniors to generate targets and make discoveries, which they can then develop further. Dreadnought aims to emulate the success of recent junior explorers like Gold Road, Hemi, and Chalice, who have made company-making discoveries and generated huge returns for shareholders.

Mangaroon Emerging as Globally Significant REE District

Dreadnought's flagship project is the Mangaroon REE project in the Gascoyne region of WA, located adjacent to Hastings Technology Metals' advanced Yangibana REE project. Initial drilling by Dreadnought has confirmed the presence of highly prospective ionic clay REE mineralization similar to Yangibana. Importantly, Dreadnought has also discovered new outcropping REE-mineralized carbonatites at Mangaroon, demonstrating that this is a very large mineralized system.

These carbonatites have exceptional REE grades and mineralogy, with samples grading up to 2.6% total rare earth oxides (TREO) and very favourable neodymium-praseodymium ratios. Metallurgical studies have also shown excellent recoveries of over 80% for REEs. This is a globally significant REE discovery given the scarcity of large carbonatite-hosted resources globally. Dreadnought's landholding covers over 500 sq km of prospective geology and the company will continue systematic exploration to outline a major resource inventory over the next 12-18 months.

Drilling to Unlock Potential Multi-Moz Gold at Mangaroon

In addition to REEs, Mangaroon also hosts extensive historic gold workings that have seen only minimal modern exploration. Dreadnought has outlined a 14km shear zone with numerous old gold mines that have never been drill tested. Detailed geophysics and soil sampling by Dreadnought has defined multiple large targets analogous to other major WA shear-hosted gold deposits like Junction, Sons of Gwalia, and Thunderbox. The drilling of these targets is planned for Q4 2022.

Kimberley Copper-Gold Project Offers Massive Discovery Potential

Dreadnought's 100% owned Tarraji-Yampi project in the highly prospective Kimberley region of WA covers a newly identified Proterozoic copper-gold belt that has never been explored with modern techniques. Mineralization discovered by Dreadnought is similar to the giant Mt Isa-Cloncurry deposits in Queensland. Although early drilling intersected impressive grades of 2.2% Cu, 6.6 g/t Au and 0.4% Co, thick black soil cover hampered exploration. Dreadnought has now overcome this using innovative auger drilling and has defined 13 new targets ready for drill testing in 2023. Success here could open up a whole new Proterozoic Cu-Au province in the Kimberley.

Dreadnought has assembled an exceptional technical team for a junior explorer, with extensive exploration experience and expertise covering all key commodities. The board includes veteran company builders like Chairman Paul Chapman and metallurgy expert Robert Stuart. The managing director and other senior management hold around 15% of the company's shares, aligning their interests closely with shareholders. Their ambitious growth strategy and commitment to value creation through discovery have attracted high-profile investors like the Creasy Group.

Rapid Activity and News Flow Across Multiple Fronts

With multiple prospective projects and targets, Dreadnought has an enviable pipeline of exploration activity that should generate a steady news flow over the coming year. Investors can expect a wealth of exploration results from REE drilling at Mangaroon, gold drilling at Mangaroon, and the commencement of nickel exploration. This high level of activity significantly reduces exploration risk and increases the chances of a major discovery. Dreadnought's tight capital structure also means that any substantial discovery will be likely to deliver outsized returns to shareholders.

Dreadnought Resources represents an attractive investment opportunity for risk-tolerant investors looking for leverage to potential company-making mineral discoveries. The experienced management team, strategic focus on Repeatable exploration success, and diversified project pipeline provide multiple shots at success across a range of commodities. With drilling underway, news flow over the coming months will be key to demonstrating the large discovery potential across Dreadnought's WA projects.

• Dreadnought has a large and highly prospective land package covering known mineralized systems and historic workings, providing multiple targets to explore. This diversifies exploration risk.
• The focus on REEs positions Dreadnought to benefit from strong demand growth forecasts for magnet metals like neodymium and praseodymium. Exposure to the energy transition mega-trend.
• Mangaroon REE project has clear potential to deliver a globally significant resource based on early results. Hastings' Yangibana provides an analogue for success.
• Multiple historic gold workings at Mangaroon provide 'blue sky' exploration potential in a high-value commodity.
• Experienced technical team with a track record of discovery success and extensive knowledge of WA geology.
• Tight capital structure means any discovery success could re-rate share price significantly. High leverage to exploration upside.
• Steady news flow from active exploration programs provides constant catalysts and reduces investor risk.

However, key risks for investors include:

• Exploration is inherently risky - mineral discoveries cannot be guaranteed.
• Share price likely to be volatile given junior explorer status.
• Potential requirement to raise more capital to fund ongoing exploration activities.
• Commodity price fluctuations could impact value of any discoveries.

Dreadnought offers speculative upside potential based on its prospective ground and active exploration. But it's a high-risk investment only suitable for investors comfortable with the uncertainties of junior exploration. Careful research around management capability, financial position and planned activities is advised before investing.