BULLETIN RESOURCES LIMITED — Capital/Financing Update 2021

Sep 2, 2021

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3 September 2021

ASX RELEASE

Bulletin Expands Project Portfolio Duketon North Project

Highlights

• Bulletin has been granted a new 176km[2] tenement in the highly prospective Duketon Greenstone Belt

• The Duketon North Project is 30km north of the 3 Mtpa Moolart Well gold operation and 35km south of the Olympia nickel deposit

• Limited historical exploration in the area gave a best Ni result of: 4m @ 0.75% Ni, 684ppm Co

• The project is considered prospective for gold as well as nickel & PGEs

• Compilation and review of all previous exploration activity is underway with on-ground work to follow

Chairman

Paul Poli

Non- Executive Directors

Robert Martin Daniel Prior

Company Secretary

Issued Capital

179.29 million shares

30.5 million options

Top Shareholders

Goldfire Enterprises 26.0% Top 20 Shareholders 61.8%

Market Capitalisation

$11.12 million @ 6.2 cents

Bulletin Resources Limited

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

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Bulletin Resources Limited (“Bulletin”, “BNR”) is pleased to announce that the Western Australian Department of Mines Industry Regulation and Safety (DMIRS) has granted the Duketon North Project E38/3552 totalling 176km[2] in area.

The Duketon North Project is located 150km north-northwest of Laverton. The Project lies within the highly prospective Duketon Greenstone belt that hosts the nearby Regis Resources’ 3Mtpa Moolart Well gold operations 30km to the south and the 9,300t Ni (573kt at 1.63%Ni, 1.19%Cu) Olympia nickel deposit 35km to the north (Figure 1).

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Figure 1: Duketon North Project location

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Geology at Duketon North comprises of a series of mafic and ultramafic, felsic volcanic and volcaniclastics, and associated sedimentary units including BIF. The sequence has been disrupted by several phases of faulting and folding which has resulted in a steep westerly dip and northwest strike to the stratigraphy. Surface geology comprises aeolian sands and stabilised sand dunes with minor hardpans and laterite development. The Turnback fault is a major regional shear zone that dominates the tenement and it is host to the Moolart Well gold deposit to the south.

Previous exploration on the tenement is limited and has largely been focused in the north of the tenement at the Collurabbie South prospect where aircore drilling intersected 4m @ 0.75% Ni, 684ppm Co beneath an intersection of 4m @ 0.13% Cu in hole CBA074. A number of conductors were identified in an electromagnetic (EM) survey and five diamond holes were drilled. The diamond drilling identified barren sulphides but the EM conductor associated with the anomalous aircore drill hole CBA074 was not tested and remains to be followed up (refer ASX: REN prospectus dated 28/04/2010 ).

Gold exploration at Collurabbie South followed earlier nickel work. Wide spaced aircore drilling of a 4km long gold-in-soil anomaly in the north of the tenement failed to explain the surface anomaly ( refer ASX: BRB announcement dated 31/10/2016 ). Further work in the area is required to resolve the source of the gold-in-soil anomalism.

The potential in the south of the tenement along the Turnback fault towards Moolart Well and to the east on an isolated folded greenstone belt remains to be explored. The area to the south has been initially tested with wide spaced soil sampling which has likely been limited in effectiveness by the extensive aeolian sand plains. Ground EM in the area identified four conductors of which only one has been tested, intersecting barren sulphide bearing sediments. The remaining 3 conductors, including the strongest conductor of the four, still require testing with drilling.

Validation and review of all previous exploration work is currently underway and an exploration plan will be developed in the short term with on-ground work to follow.

Bulletin’s Chairman, Mr Paul Poli said “ Bulletin continues to build on its project portfolio, concentrating on areas that are near existing infrastructure with the potential to build on previous early exploration work. Our portfolio of projects now includes gold, lithium and now nickel targets, and we regularly investigate opportunities that have potential to substantially grow the company. We are and will continue to explore at Lake Rebecca, Chifley and Ravensthorpe and I look forward to the future of Bulletin as the company grows. ”

This ASX report is authorised for release by the Board of Bulletin Resources Limited.

For further information, please contact: Paul Poli, Chairman Phone : +61 8 9230 3585

Competent Persons Statement

The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mark Csar, who is a Fellow of The AusIMM. The exploration information in this report is an accurate representation of the available data and studies. Mark Csar is a full-time employee of Bulletin Resources Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mark Csar consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.