CULLEN RESOURCES LIMITED — Capital/Financing Update 2013

Mar 5, 2013

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ABN 46 006 045 790

www.cullenresources.com.au

ASX Symbol: CUL

ASX ANNOUNCEMENT 6 March 2013

PLACEMENT RAISES $2.2 MILLION

Cullen Resources Limited (Cullen) is pleased to announce it has completed a capital raising of $2.2M (before expenses) by a placement of securities to sophisticated and professional Section 708 investors. These investors have subscribed for 100 million fully paid ordinary shares in Cullen at 2.2 cents per share. This represents approximately 13.9% of the issued capital of the Company.

Bell Potter Securities Limited managed the placement. Funds raised will be applied to the following key projects and provide working capital.

Cullen’s immediate focus is nickel exploration of its wholly-owned Mt Eureka Project. Exploration will commence with completion of a helicopter-borne VTEM survey targeting the strike extent of ultramafic units which host the newly-discovered Camelwood nickel sulphide deposit (by Rox Resources Limited) located about 3km south of the Mt Eureka Project boundary (Figure 1).

Cullen will continue participation in the West Pilbara Iron Ore Project - Stage 1, via the Mt Stuart Iron Ore Joint Venture (MSIOJV) - Cullen contributing at 30%.

At the TL Property in SE British Columbia (Cullen earning 80%) Cullen intends to follow-up its initial diamond drilling programme of 2012 with further drilling beneath shallow massive sulphide intersections (best 2m @ 2.6% Zn) and gossan at this discovery.

Further information contact:

Dr Chris Ringrose: 0439 843 756

ATTRIBUTION - Competent Person Statement

The information in this report 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 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr. Ringrose consents to the report being issued in the form and context in which it appears.

Unit 4, 7 Hardy Street South Perth | Western Australia 6151 Telephone: +61 8 9474 5511 | Facsimile: +61 8 9474 5588 E-mail: cullen@cullenresources.com.au Website: www.cullenresources.com.au

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