Resource Upgrade Looms as Dreadnought Hits High-Grade Gold Near Surface

Exceptional Infill Drilling Results

Dreadnought Resources Ltd has unveiled compelling assay results from the final 14 reverse circulation (RC) infill drill holes at its Star of Mangaroon gold project in Western Australia's Gascoyne region. The standout intercept, SOMRC081, returned an impressive 15 metres grading 20.5 grams per tonne (g/t) gold from surface, including a remarkable 2 metres at 148 g/t from just 4 metres depth. These results reinforce the presence of thick, shallow, and high-grade gold mineralisation, a key factor in enhancing the project's economic viability.

Resource Upgrade and Economic Implications

The current resource at Star of Mangaroon stands at 23,300 ounces of gold at an average grade of 12.8 g/t. The newly reported assays are expected to materially boost this figure, underpinning an upgraded resource estimate and mine plan currently in progress. Given the shallow nature of the mineralisation, the potential for open-pit mining is strong, which typically offers lower extraction costs and faster development timelines. Dreadnought’s Managing Director, Dean Tuck, highlighted that these results confirm the high-grade lode extends to surface and will positively impact project economics.

Strategic Drilling and Exploration Outlook

With all assays now received, Dreadnought is poised to commence a new RC drilling program targeting deeper extensions and northern strike extensions of the Star of Mangaroon lode. This program, scheduled to start in early September 2025, will also test other promising prospects within the Mangaroon project area, including Steve’s Reward, Pritchard’s, Lesgo, Midnight Star, Midday Moon, and Cullens. The company’s broader exploration strategy encompasses multiple projects, including critical minerals targets at Gifford Creek and nickel-copper-PGE prospects at Money Intrusion, reflecting a diversified portfolio aimed at long-term growth.

Robust Metallurgical Performance and Self-Funded Model

Star of Mangaroon’s gold is known for its free-milling characteristics, with metallurgical test work showing exceptional recoveries averaging 96.7% through gravity and carbon-in-leach processes. This metallurgical efficiency supports the company’s strategy to develop a high-grade open pit with outsourced funding, haulage, and processing arrangements. Such a self-funded explorer model reduces reliance on external capital markets, allowing Dreadnought to focus internal resources on exploration and discovery.

Community and Regulatory Context

The Mangaroon project area is subject to multiple native title determinations and royalty agreements with various parties. Dreadnought maintains full ownership of its tenements and continues to engage with stakeholders to ensure compliance and sustainable development. The company’s transparent reporting and adherence to industry best practices, including detailed sampling and QAQC protocols, provide confidence in the quality of the data underpinning the resource upgrade.