CULLEN RESOURCES LIMITED — AGM Information 2017

Nov 20, 2017

==> picture [18 x 21] intentionally omitted <==

==> picture [666 x 38] intentionally omitted <==

==> picture [18 x 21] intentionally omitted <==

ASX : CUL

 UNLOCKING GOLD POTENTIAL Mt EUREKA, W.A.

• air core drilling to commence early December

AGM – NOVEMBER 21 2017 Chris Ringrose – Managing Director

Cullen Resources Limited

DISCLAIMER

==> picture [18 x 21] intentionally omitted <==

==> picture [18 x 21] intentionally omitted <==

IMPORTANT NOTICE

This presentation has been prepared by Cullen Resources Limited ACN 006 045 790 (Cullen) for general information purposes only. The presentation is not and should not be considered as an offer or invitation to subscribe for or purchase any securities in Cullen, or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in Cullen will be entered into on the basis of this presentation.

FORWARD-LOOKING STATEMENTS

This presentation may contain certain forward-looking statements which have not been based solely on historical facts but rather on Cullen's expectations about future events and on a number of assumptions which are subject to significant risks, uncertainties and contingencies many of which are outside the control of Cullen and its directors, officers and advisers. Forward-looking statements include, but are not necessarily limited to, statements concerning Cullen’s planned exploration program, strategies and objectives of management, anticipated dates and expected costs or outputs. When used in this document, words such as “could”, “plan”, “estimate” “expect”, “intend”, “may”, “potential”, “should” and similar expressions are forward-looking statements. Due care and attention has been taken in the preparation of this document and although Cullen believes that its expectations reflected in any forward looking statements made in this document are reasonable, no assurance can be given that actual results will be consistent with these forward-looking statements. This document should not be relied upon as providing any recommendation or forecast by Cullen or its directors, officers or advisers. To the fullest extent permitted by law, no liability, however arising, will be accepted by Cullen or its directors, officers or advisers, as a result of any reliance upon any forward looking statement contained in this document.

==> picture [13 x 17] intentionally omitted <==

Cullen Resources Limited

==> picture [18 x 21] intentionally omitted <==

PROJECT PORTFOLIO

==> picture [378 x 484] intentionally omitted <==

----- Start of picture text -----

GOLD and Ni S
TARGETS
----- End of picture text -----

 WEST PILBARA : 2 IRON ORE ROYALTIES

• DRILL READY GOLD AND Ni S TARGETS Mt EUREKA

• SEVERAL EARLY-STAGE, PIPELINE PROJECTS IN

W.A.

==> picture [13 x 17] intentionally omitted <==

==> picture [18 x 21] intentionally omitted <==

Cullen Resources Limited

2 POTENTIALLY VALUABLE IRON ORE ROYALTIES IN THE WEST PILBARA

==> picture [18 x 21] intentionally omitted <==

==> picture [18 x 21] intentionally omitted <==

West Pilbara Iron Ore Project and Fortescue’s Proposed Western Hub

(WPIOP stage 1) Proposed Rail and Port – 40Mtpa operation

==> picture [140 x 61] intentionally omitted <==

----- Start of picture text -----

API’s proposed
railway and port
----- End of picture text -----

Cullen Royalty WYLOO Cullen Royalty

==> picture [436 x 387] intentionally omitted <==

----- Start of picture text -----

Fortescue’s
proposed
Western Hub
(Eliwana)
----- End of picture text -----

==> picture [13 x 17] intentionally omitted <==

Cullen Resources Limited

==> picture [18 x 21] intentionally omitted <==

. MT EUREKA PROJECT – NE GOLDFIELDS, W.A

==> picture [18 x 21] intentionally omitted <==

~450 km [2] ~ 40 km strike CUL - 100%

==> picture [13 x 17] intentionally omitted <==

Cullen Resources Limited

==> picture [18 x 21] intentionally omitted <==

AT LEAST FOUR, STRIKE - EXTENSIVE GOLD SYSTEMS BY HISTORICAL DRILLING

==> picture [18 x 21] intentionally omitted <==

==> picture [663 x 494] intentionally omitted <==

----- Start of picture text -----

350000mE 360000mE
Mt EUREKA
PROJECT
Cullen Resources Limited
----- End of picture text -----

==> picture [18 x 21] intentionally omitted <==

NEW BEDROCK INTERPRETATION FROM AEROMAGNETICS DATA – TO GUIDE DRLLING

==> picture [388 x 483] intentionally omitted <==

By Comparison :

Yandal Belt

“Overdrilled but underexplored” (ASX:EAR, 10 Oct 2017) 150,000 drillholes 4 million metres

Mt Eureka Belt

East of Yandal Belt 6000 drillholes 200,000 metres

Underdrilled and Underexplored

==> picture [13 x 17] intentionally omitted <==

Cullen Resources Limited

==> picture [18 x 21] intentionally omitted <==

==> picture [18 x 21] intentionally omitted <==

GOLD PROSPECTS : SHEARS and GRANITE – GREENSTONE CONTACT +/- CONGLOMERATE

==> picture [18 x 21] intentionally omitted <==

==> picture [602 x 449] intentionally omitted <==

==> picture [13 x 17] intentionally omitted <==

Cullen Resources Limited

==> picture [18 x 21] intentionally omitted <==

MT EUREKA PROJECT NEXT GOLD TARGETS – NORTHERN HALF

==> picture [18 x 21] intentionally omitted <==

granite

==> picture [103 x 47] intentionally omitted <==

----- Start of picture text -----

GALWAY
----- End of picture text -----

1.0km

==> picture [13 x 17] intentionally omitted <==

Sheared contact

Cullen Resources Limited

==> picture [18 x 21] intentionally omitted <==

MAIN CONTROLS TO SOME GOLD PROSPECTS KNOWN - BUT DRILLING LACKING

==> picture [18 x 21] intentionally omitted <==

Greenstone

SHEAR’s belt

Main gold prospects

5km

IMPORTANT , SUBTLE STRIKE FLEXURE IN STRATIGRAPHY, SOUTHERN HALF OF GREENSTONE BELT ?CONTROLS GOLD MINERALISATION

==> picture [13 x 17] intentionally omitted <==

Cullen Resources Limited

==> picture [18 x 21] intentionally omitted <==

GRAF’S FIND PROSPECT – DOMAL GEOMETRY CONTROLS GOLD SYSTEM

==> picture [347 x 478] intentionally omitted <==

==> picture [262 x 329] intentionally omitted <==

==> picture [13 x 17] intentionally omitted <==

==> picture [18 x 21] intentionally omitted <==

Cullen Resources Limited

==> picture [18 x 21] intentionally omitted <==

AK47 and “AK47EAST” - TWO NICKEL SULPHIDE TARGET TRENDS

==> picture [18 x 21] intentionally omitted <==

Ground EM Survey: 2 x 1km – two new bedrock conductors for drilling testing

Ni > 1% over 0.1-0.2m in holes GBD 2,3 and 4

==> picture [134 x 67] intentionally omitted <==

----- Start of picture text -----

Anomalous
LAG SAMPLE LAG SAMPLE
Pt 57ppb, Pd 12 ppb
----- End of picture text -----

==> picture [130 x 24] intentionally omitted <==

----- Start of picture text -----

GBD 2-7
----- End of picture text -----

==> picture [84 x 161] intentionally omitted <==

==> picture [52 x 176] intentionally omitted <==

Area of historic drilling - (GBD2-7) at AK47 Area of ground EM survey VTEM anomalies /”picks” – 2009 survey Target trend of ultramafics and VTEM anomalies Two bedrock conductors from ground EM survey

==> picture [13 x 17] intentionally omitted <==

Cullen Resources Limited

WONGAN HILLS, W.A.

==> picture [18 x 21] intentionally omitted <==

BASEMETAL - GOLD TARGET

==> picture [18 x 21] intentionally omitted <==

Significant indicator element (Sn-Cu) anomaly in laterite

==> picture [263 x 68] intentionally omitted <==

----- Start of picture text -----

Landowner access agreements
required and in progress
----- End of picture text -----

==> picture [13 x 17] intentionally omitted <==

Cullen Resources Limited

==> picture [18 x 21] intentionally omitted <==

WONGAN HILLS - SUMMARY

==> picture [18 x 21] intentionally omitted <==

• Favourable geological setting in an Archaean greenstone belt with known Cu-Au mineralisation - prospective for VMS, orogenic gold and Boddington-style intrusive-related gold deposit types

• Under-explored, plus 500 CHI6 (max 4355) and coincident plus 100ppm Cu anomaly, comparable in tenor and character to Golden Grove and Boddington, and includes the 3.5km-long Louise Zone Au anomaly

• Subject to land access agreements, in fill laterite and soil sampling to confirm target extent and character

• Subsequent exploration to include: geological mapping, rock and soil sampling, acquisition of existing aeromagnetic data and consideration of a VTEM survey

Cullen Resources Limited

==> picture [18 x 21] intentionally omitted <==

CULLEN TARGETING LITHIUM IN PEGMATITES, W.A.

==> picture [18 x 21] intentionally omitted <==

EX. LICENCES/APPS. - CENTRAL PILBARA, SE GREENBUSHES, AND YINNETHARRA REGIONS W.A.

Photo of Greenbushes open pit and pegmatites from public viewing platform – Talison Ltd

==> picture [13 x 17] intentionally omitted <==

Cullen Resources Limited

==> picture [18 x 21] intentionally omitted <==

SUMMARY - CULLEN CORPORATE ASX:CUL

 RENEWED FOCUS ON EXPLORATION FOR GOLD AND BASE METALS IN W.A.

DIRECTORS

==> picture [80 x 73] intentionally omitted <==

Dr Denis Clarke - Chairman Dr Chris Ringrose - MD Mr Grahame Hamilton - Non Exec Mr John Horsburgh - Non Exec Mr Wayne Kernaghan - Co Sec

 SALE and PURCHASE AGREEMENT For Mt Stuart Iron Ore JV interest

CAPITAL

==> picture [80 x 74] intentionally omitted <==

• Provided $1M cash CUL:ASX 12-4-2017 and Royalty

 Number of shares : 2001M

 Cash ~ $0.53M (30/09/17)

 Market Cap: ~ $4M (@ 0.2c)

==> picture [18 x 21] intentionally omitted <==

 Top 20 : ~44%

 SPP TO RAISE ADDITIONAL $300K CLOSED 17 NOV 2017

Major Shareholders : Baosteel-Aurizon (5.4%) Perth Capital, Wythenshawe and Associates (22.2%) Directors ( ~5%);

==> picture [13 x 17] intentionally omitted <==

Cullen Resources Limited

==> picture [18 x 21] intentionally omitted <==

==> picture [666 x 38] intentionally omitted <==

==> picture [18 x 21] intentionally omitted <==

Thank you

Chris Ringrose 0439 843 756 cullen@cullenresources.com.au www.cullenresources.com.au

ATTRIBUTION – COMPETENT PERSON STATEMENT

Information in this presentation may reflect past exploration results, and Cullen’s assessment of exploration completed by past explorers, which was first prepared and disclosed under JORC Code 2004. It has not been updated since to comply with JORC Code 2012 on the basis that the information has not changed materially since it was last reported .

The information in this presentation that relates to Exploration Results is based on information compiled by Dr Chris Ringrose, Managing Director, Cullen Resources Limited who is a Member of the Australasian Institute of Mining and Metallurgy. Dr Ringrose is a full time employee of Cullen Resources Limited. He has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined by the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Ringrose consents to the presentation being issued in the form and context in which it appears.

==> picture [13 x 17] intentionally omitted <==

Cullen Resources Limited