BULLETIN RESOURCES LIMITED — Capital/Financing Update 2021

Aug 2, 2021

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3 August 2021

ASX RELEASE

Geko Gold Mine Royalty - June Quarter Entitlement Received

Highlights

• Bulletin has received the June 2021 quarter production royalty entitlement of $899,358 from the Geko gold mine

• The royalty payment includes the outstanding portion of the March quarter gold production received by the mine in the June quarter

Chairman

Paul Poli

Non- Executive Directors

Frank Sibbel

• Bulletin retains a royalty and profit share interest in the Geko gold mine

• Bulletin’s royalty entitlement is:

  • 10% of the first 25,000 oz Au produced;

  • 4% of the next 60,039 oz Au produced; and

  • 2% of all production over and above 85,039 oz Au

The royalty entitlement of $899,358 to Bulletin is reduced by $299,486, being part of the capped acquisition payable of $3.25M at a rate of 3.33% per ounce, for a net receipt of $599,872. The balance of the capped consideration payable is now reduced to $2.17M.

• To date, Bulletin has received gross royalty entitlement of $3.48M for a net $2.40M in royalty payments from the Geko operation

Robert Martin Daniel Prior

Company Secretary

Andrew Chapman

Issued Capital

179.29 million shares 30.5 million options

Top Shareholders

Goldfire Enterprises 26.0% Top 20 Shareholders 64.4%

Market Capitalisation $10.75 million @ 6.0 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 advise receipt of the Geko gold Mine June quarter royalty entitlement of $899,358.

Geko has advised that the payment includes all June quarter production as well as the outstanding proceeds the mine received from March quarter production.

Bulletin retains a royalty and profit share interest in the Geko gold mine. Bulletin’s royalty entitlement is:

• (i) 10% of the first 25,000 oz Au produced;

• (ii) 4% of the next 60,039 oz Au produced; and

• (iii) 2% of all production over and above 85,039 oz Au.

The above royalty is reduced by a capped amount of $3.25M at a rate of 3.33% per ounce. The royalty is entitled to be received each quarter. A payment of $299,486 from the Bulletin royalty entitlement was made towards part payment of the $3.25M acquisition, resulting in a net amount received of $599,872 and a remaining capped consideration payable of $2.17M. To date, Bulletin has received gross royalty entitlements of $3.48M for a net $2.40M in royalty payments from the Geko operation.

Bulletin retains a 30% profit share after an initial $9 million threshold has been achieved by the mine and a 30% joint venture on the remainder of the mining tenement at Geko.

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