Cullen Resources : Ground EM to commence at Wongan Hills

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ASX Announcement

www.cullenresources.com.au

ASX:CUL

14 March 2022

Ground EM to commence this week at Wongan Hills

WONGAN HILLS PROJECT, WA - targeting Volcanic-Hosted Massive Sulphide (VHMS) Cu-Zn-Ag-Au and Ni-Cu-PGE mineralisation (Cullen 90%)

• Ground Time-domain Electromagnetic Survey to commence at the Rupert and Rupert South Prospects this week to follow-up prominent VTEM anomalies south of WHAC148 and 151.
• Approximately 50 survey stations planned by Southern Geoscience (SGC) on 4 survey lines for a total of 4 to 5 line km of coverage over a target strike length of 3km.
• One line is planned across Rupert and three across the Rupert South Prospects (Fig. 1).
• Some VTEM anomalies have been partially traversed by air core drilling but with no sulphides intersected in any air core holes (Figs.1 and 2).

BACKGROUND

In January 2022, RC drilling further tested a strong ground EM conductor (Model C3) at Rupert and outlined a lensoidal (possibly intrusive) body of ultramafic with a best intersection of 30m @ 1161 ppm Ni, with 22ppm Cu, and 80ppm Co (WHRC14 from 115-145m) - similar to that in previous hole RC6 which contained trace nickel sulphides (ASX:CUL:16-2-2022).

Air core hole WHAC148 500m south-southeast of RC6 returned 15m @ 1963 ppm Ni, with 227 ppm Co, from 5m - max 5m composite sample of 3021ppm Ni with 389ppm Coand, WHAC 151, 230m west on the same x-section, returned

17m @ 1802 Ni, 160 ppm Co from 20m to End of Hole,

REGISTERED OFFICE: Unit 4, 7 Hardy Street, South Perth WA 6151

Telephone: [phone]; FAX: [phone] Contact: Dr. Chris Ringrose, Managing Director:

email:[e-mail]

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Proposed Ground EM - Wongan Hills, March 2022

These Ni-Co intersections partially overlie coincident, discrete magnetic +/-VTEM anomalies at the northern tip of an untested strike-extensive (~3km) magnetic belt (Figs. 1 and 2), and together with area RC6 are interpreted to be part of a prospective mafic-ultramafic complex.

Fig.1. Wongan Hills:

Left - VTEM image

(FVD, channel 47 - z component), and

Right - Magnetic image from Drone survey.

Planned 4, Ground EM profiles (MLEM) across prominent VTEM anomalies.

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Proposed Ground EM - Wongan Hills, March 2022

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Fig.2. RC and AC target drilling completed Jan 2022, at Rupert

with significant results highlighted (Drone Mag Image) - ASX:CUL, 16-2-2022.

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Proposed Ground EM - Wongan Hills, March 2022

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3466

Fig.3. Location of January 2022 RC (13-17) and air core drilling on aerial photo.

Historical drilling by VAM Ltd (1970) reported up to: 7600ppm Ni, 780ppm Co with 2800 ppm Cr in hole 3466 from 16-18 feet (WAMEX A18337) which lies in the southern part of E4882 and supports the on-trend occurrence of ultramafics south from the Rupert Prospect. VAM targeted bauxite and Ni-Cu.

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Proposed Ground EM - Wongan Hills, March 2022

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Wongan Hills Project Location Map

Wongan Hills Project set amongst significant Regional Exploration Activity with industry attention focused on what may be an emerging nickel - copper - PGE province to the north east of Perth. There is also a notable copper resource near Calingiri (see Caravel Minerals Limited, ASX:CVV, "Caravel Copper Project") just south of the Wongan Hills project.

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