BULLETIN RESOURCES LIMITED — Capital/Financing Update 2016

Jul 24, 2016

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25 July 2016

ASX RELEASE

Completion of In-Specie Distribution

Highlights

• Completion of In-Specie Distribution of Pantoro shares

• Bulletin retains cash and liquid investments of $4.9M

• All loans repaid and is now debt free

• Reviewing new opportunities in the resources sector

The Board of Bulletin Resources (ASX: BNR, Bulletin) is pleased to advise that it has now completed the in-specie distribution of the Pantoro shares to Bulletin shareholders.

The in-specie distribution is the final step in the process of creating value for Bulletin shareholders from the Company’s sole asset at the time the current Board took control of the Company two years ago.

The in-specie distribution will allow Bulletin shareholders to continue to participate in the future growth of the Nicolsons gold project via their Pantoro shareholding. Holding statements will be sent out tomorrow to shareholders.

The finalisation of the sale of the interest in the Nicolsons gold project to Pantoro and the in-specie distribution has left Bulletin in a very strong position with cash and shares in Pantoro to the value of $4.9M after repayment of all loans with funds realised from the sale of 15M Pantoro shares. Bulletin does not anticipate the need to dispose of any further Pantoro shares at this time.

Chairman

Paul Poli

Non- Executive Directors

Frank Sibbel Robert Martin

Company Secretary

Andrew Chapman

Shares on Issue

179.29 million shares

Top Shareholders

Matsa Resources Ltd 27.4% Goldfire Enterprises 22.6%

Market Capitalisation

$5.38 million @ 7.6 cents

It is the Company intention to repeat the process of rewarding shareholders by the identification of a new project and to that end has commenced reviewing other opportunities in the resources sector.

For further information, please contact:

Paul Poli, Chairman Phone : +61 8 9230 3585

Bulletin Resources Limited

Suite 11, 139 Newcastle Street, Perth, WA 6000 I PO Box 376 Northbridge WA 6865 I phone (08) 9230 3585 I fax (08) 9227 0370 I www.bulletinresources.com

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