Dreadnought Resources Limited announced that it has been awarded a co-funded drilling grant under the Geological Survey of Western Australia's merit-based Exploration Incentive Scheme ("EIS") for the Gifford Creek REE Carbonatite at Mangaroon (100%). EIS grant of $180,000 for RC drilling to target gravity anomalies within the ~17km long Gifford Creek Carbonatite and test for REE, niobium, titanium, phosphate and scandium mineralisation. Dreadnought has received three EIS grants in 2023 totaling $620,000 to support drilling at the Yin ironstones, the Gifford Creek Carbonatites (both at Mangaroon) and at Orion (Tarraji-Yampi).

The EIS grant for RC drilling at the Gifford Creek Carbon at Mangaroon commences in December 2023, therefore drill testing of the gravity anomalies will commence in 2024. Results of the recently completed gravity survey over the Gifford Creek CarbonATite are expected in November 2023. Drilling of the gravity anomalies will commence In March 2024.

The mineralisation at the Yin REE Ironstone Complex contains significantly higher NdPr as a fraction of the rare earth oxides ("NdPr:TREO" ratio) than most other REE deposits globally, over 50% higher than the global average. Partially completed, first pass, wide spaced drilling over the Gifford Creek carbonatite has identified significant critical metal potential with REE, P, Nb, Ti and Sc. Potential Attractive Mining Proposition.

At Yin, broad zones of flat to moderate dipping mineralisation with parallel lodes and Resource intensity of ~4.8Mt/km make for a potentially attractive mining proposition. Positive Metallurgy Results. Metallurgical test work from Yin has performed well, achieving recoveries ranging from 85.9% to 92.8% at a concentrate grade of 10.76% to 15.31% Nd2O3+Pr6O11.

REE at Yin is predominantly hosted in monazite which is amenable to commercial processing. Significant metallurgical studies ongoing - results expected throughout 2023. Yin Resource to Grow, Carbonatite Drilling Commenced.

3 April 2023. Carbonatites Deliver Thick, Near Surface REE Results. 29 May 2023.

Metallurgical Test Work Supports High-Value Concentrate. 13 June 2023. Rare Earth Ironstone and Carbonatite Drilling Update.

17 August 2023. UPCOMING NEWSFLOW. October: Drilling results from completed drilling at Mangaroon REE (100%) October: DHEM and further assay results from the Money Intrusion (Mangaroon Ni-Cu-PGE Earn-in) October: Quarterly Activities and Cashflow Report.

October/November: Further RC drilling at Mangaroon Ni-Cu-P-PGE Earn-in). October/November: Further RC drill at Mangaroon Ni- Cu-PGE Earn-in), and at Orion (TarraJ-Yampi). The Company has received three EIS grants Incentive Scheme (100%) to support drilling at the Yin Ironstones, the GiffordC Carbonatite (both at Mangaroon), and at Orion (TarRAji-Yampi).