• Dreadnought enters binding agreement with Black Cat Syndicate for funding, development, haulage and processing of Star of Mangaroon open pit
• Black Cat to sole fund up to $10M for mining, with further funding contributed equally by Dreadnought and Black Cat
• Ore to be processed at Paulsens Gold Operation, with Dreadnought receiving advance payment of JV distributions

Dreadnought Resources has announced a turn-key funding, development and processing package in relation to the Star of Mangaroon project, part of the 100% owned Mangaroon Gold project in the Gascoyne region of Western Australia. Under the agreement, Dreadnought has entered into a Binding Heads of Agreement with Black Cat Syndicate Ltd that will see Black Cat engage and manage contractors, as well as provide all funding up to $10M, to develop and haul ore from the Star of Mangaroon open pit. Should development funding exceed $10M prior to positive cashflow, Dreadnought and Black Cat will then contribute additional funding 50/50. Dreadnought and Black Cat will share surplus cashflow from the mining, haulage, treatment and sale of gold produced at a 50/50 split for the first $80M, and then 70% Dreadnought, 30% Black Cat for any additional surplus cashflow beyond $80M. Dreadnought has also entered into an Ore Purchase Agreement with Paulsens, the owner of the Paulsens Gold Operation, for processing of up to 110,000 tonnes of open pit ore from Star of Mangaroon. This turn-key arrangement allows Dreadnought to maintain focus on exploration and discovery of additional gold resources while generating cashflow, a key component of Dreadnought's strategy to become a self-funded explorer.

Dreadnought is focused on securing all necessary permits and approvals by 30 April 2026, and Black Cat is to negotiate and secure all contracts for the commencement of mining activities within 60 days of receiving all approvals. Dreadnought will continue to progress exploration activities at its Mangaroon, Illaara, and other projects during this time.