Dreadnought Maps 15km Gold Anomaly, Adds Second Pipeline at Mangaroon

The 2025 reconnaissance reverse circulation drilling included 25m at 1.0g/t gold from 22m at Cullen's Find, including 12m at 1.4g/t gold. A separate hole at the prospect returned 2m at 4.4g/t gold from 81m including 1m at 8.7g/t gold. Midnight Star returned 4m at 3.2g/t gold from 12m including 1m at 11.4g/t gold, while Midday Moon produced a lower-grade polymetallic intersection of 3m at 0.3g/t gold, 0.2% copper and 0.2% bismuth from 62m.

Target definition is under way at High Range North, High Range Northwest, High Range South, Minga Bar and Bordah. First-pass work at Mangaroon South is expected to add another stream of results during August and September. A trial induced polarisation survey produced strong resistivity anomalies and offsets at Cullen's Find, but conductivity was affected by electromagnetic coupling in the weathered zone, leaving Dreadnought to base drill targeting on the soil anomaly, detailed magnetics, mapping and structural interpretation.

The work adds a second active gold discovery pipeline alongside the company's Illaara gold project. There, a 493-hole air core program covering about 35,000m identified 13 anomalous mineralised corridors ranging from about 1.5km to more than 7km in strike. Black Oak was extended beyond 7km and CRA-Homestead was defined over about 2km. Results from Black Oak included 18m at 0.8g/t gold from 36m to end of hole, including 3m at 1.8g/t gold, while CRA-Homestead returned 6m at 0.4g/t gold from 117m to end of hole including 3m at 1.1g/t gold.

The first-pass program narrowed nearly 60 square kilometres of drilled greenstone belt to about 5 to 10 sq km of priority ground. Follow-up infill air core drilling is scheduled to start at Black Oak and CRA-Homestead during August ahead of RC target testing later in 2026. All Illaara intercepts are reported as downhole lengths with true widths unknown. Further first-pass air core drilling is planned in new parts of the project during September or October.

The company's wider Mangaroon strategy combines this discovery work with the Star of Mangaroon, where it has defined a 27,000-ounce resource grading 11.1g/t gold and is pursuing a model intended to generate cash flow while continuing broader exploration.