• $2.0 Million Upfront Consideration in DRE shares
• $1.5 Million in Potential Milestone Payments
• Strategic Focus on high-priority NSW copper-gold, silver, lead and zinc projects

Kingfisher Mining Ltd (ASX: KFM) ('Kingfisher' or 'the Company') has entered into a binding terms sheet with Dreadnought Exploration Pty Ltd, a wholly owned subsidiary of Dreadnought Resources Limited (ASX: DRE) ('Dreadnought'), for the sale of 100% of its interest in 12 granted exploration licences in the Gascoyne region of Western Australia. Under the terms of the agreement, Kingfisher will receive $2 million upfront in DRE shares and is entitled to up to $1.5 million in performance-based cash payments linked to JORC Resource definitions of up to 20MT @ 1% TREO. The divestment of the Gascoyne portfolio marks a strategic shift for Kingfisher, allowing the company to focus its resources on the high-priority NSW copper-gold, silver, lead and zinc projects, including the Copper Blow IOCG Project. Recent drilling at Copper Blow has confirmed high-grade copper-gold mineralisation over a 600m strike length, with significant intercepts including 13m @ 1.2% Cu and 0.26 g/t Au. Kingfisher sees the exceptional strength and outlook for base and precious metals as a key driver for focusing on its NSW portfolio, which offers immediate potential for value creation. The transaction also provides Kingfisher shareholders with ongoing exposure to the rare earth sector through a significant shareholding in Dreadnought.

Dreadnought will issue $2,000,000 worth of DRE Shares to Kingfisher. Kingfisher is also entitled to $500,000 upon Dreadnought announcing an Inferred JORC Resource > 10MT @ 1% TREO, and $1,000,000 upon Dreadnought announcing an Inferred JORC Resource > 20MT @ 1% TREO.