CULLEN RESOURCES LIMITED — Capital/Financing Update 2021

Apr 8, 2021

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ABN 46 006 045 790

www.cullenresources.com.au

ASX ANNOUNCEMENT

ASX Symbol: CUL 9 April 2021

PLACEMENT RAISES $1.48M

Cullen Resources Limited (“Cullen” or “the Company”) is pleased to announce it has received firm commitments to raise $1,480,000 (before costs) from sophisticated and professional investors to subscribe for 74,000,000 new fully paid ordinary shares in the capital of the Company ("Shares") at 2.0c ($0.02) per Share ("Placement"). The Placement will be completed under the Company’s existing placement capacity under ASX Listing Rules 7.1 and 7.1A.

The funds raised under the Placement will be used to advance exploration at the Wongan Hills (targeting gold and base metals) and Barlee (gold) projects, and for project generation and working capital purposes.

The Appendix 3B for the placement has been lodged at the ASX.

Authorisation of this release to the ASX was approved by Wayne Kernaghan – Company Secretary.

ATTRIBUTION: Competent Person Statement

The information in this announcement that relates to exploration activities 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 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: admin@cullenresources.com.au Website: www.cullenresources.com.au