Cullen Resources : Exploration Update

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ASX Announcement

www.cullenresources.com.au

ASX:CUL

10 January 2022

Drilling commenced at Wongan Hills

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

Cullen Resources Limited ("Cullen" or "the Company") is pleased to announce that a Reverse Circulation (RC) and an Air Core (AC) drilling program has commenced at the Wongan Hills Project.

• RC drilling is targeting the nickel sulphides observed in petrological samples (ASX: CUL, 16-9-21) from a 30m downhole zone of ultramafics in drill hole RC6 at the Rupert Prospect which tested a strong ground EM conductor (C3).
• AC drilling is targeting Copper-Nickel-Gold or Palladium soil anomalies that comprise four main targets outlined at Rupert, Rupert South and Rupert North (2) prospects - see ASX: CUL:5-10-2021,25-11-2021.

Fig.1 Location of Cullen's Wongan Hills Project

Exploration Update - January 10 2022

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NORTH TUCKABIANNA PROJECT, W.A. E20/714 (Cullen 100%), centered

~30km east of Cue, in the Murchison Region, gold and base metals

AC drilling is also planned to commence this week to target immediately NE of the Hollandaire Cu-Au Resource (ASX: CYM) and the Eelya Felsic complex / greenstone contact striking NE-SW at intersection with N-S faults - see ASX: CUL:25-11-2021.

Fig.2 Interpreted key structural lineaments overlain on magnetics image with

priority target trend highlighted along NE-SW lithological boundary.

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Exploration Update - January 10 2022

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Fig. 3 Wongan Hills Ni-Cu-PGE Prospects on regional magnetics image.

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Exploration Update - January 10 2022

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Figs. 4-5 (ASX: CUL, 21-10-2021)

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Exploration Update - January 10 2022

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Fig. 6. Bedrock geology interpretation map

Pd soil analyses derived by Mobil Metal Ion

leach technology as reported in WAMEX 71944.

(Annual Report, 2005, Red River Resources Ltd, Appendix 2)

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