BULLETIN RESOURCES LIMITED — AGM Information 2011

Nov 20, 2011

21 November 2011

CHAIRMAN’S 2011 ANNUAL GENERAL MEETING ADDRESS

Dear shareholders,

On behalf of my fellow Directors I welcome you to this, the 2nd Annual General Meeting of Bulletin Resources Limited.

It’s been an outstanding year for your Company and I am pleased to report on our progress. In December last year, we successfully raised $10 million as part of our IPO and ASX listing to fund several important tasks with the primary objective of advancing the Nicolson’s gold project towards the stage of making a decision to recommence mining. These tasks included;

• undertaking an extensive drilling programme to improve confidence in, and expand, the Nicolson’s Mineral Resource;

• completing a detailed audit of the processing infrastructure and costing to recommission the facility;

• metallurgical testing of the primary zone mineralisation;

• initiating the various statutory approvals processes; and

• completing an open pit and underground feasibility study.

Despite an early setback following an extraordinarily wet season in the Kimberley, which damaged several bridges along the Great Northern Highway and prevented access for our drill rigs for several weeks, I am proud to announce that we are now well advanced in completing the above objectives and intend to deliver the feasibility study at the end of the first quarter next year. Upon completion of the feasibility study we will be in a position to make an investment decision in regards to a production start-up, subject to obtaining the requisite approvals and financing.

Notwithstanding the strong support we received for our IPO capital raising, it was disappointing to see our shares fall below the IPO issue price well in advance our first drilling announcement. The Board is firmly of the view that we have successfully advanced the Company and the Nicolson’s project as proposed in our IPO Prospectus, with the results and progress to date fully supporting the business plan detailed in that Prospectus. I would therefore like to extend our gratitude to our supportive shareholders and brokers who used this opportunity to top-up their holdings at a discount to the IPO price.

I would also like to use this opportunity to extend my sincerest appreciation to our project team for their determined efforts, particularly over the past 7 months where the occupancy level at our field camp regularly exceed 12 people.

During the year our Managing Director, Marty Phillips, and I devoted a considerable amount of time presenting the Bulletin story to potential new investors. One message we frequently received was regarding the limited scale of our planned operation. On that front, significant progress has been made on our resource expansion drilling initiative that commenced in October this year and on our acquisitions strategy. We hope to be in a position to update the market on these outcomes in the very near future along with all of the other developments at Nicolson’s as we progress rapidly towards our ambition of becoming a gold producer.

I would now like to pass you over to Marty Phillips who will further detail our achievements over the past twelve months.

- 2 -