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CULLEN RESOURCES LIMITED — Capital/Financing Update 2025
Feb 25, 2025
64724_rns_2025-02-25_7ae52a69-f829-4f8f-956c-723cbc5e8699.pdf
Capital/Financing Update
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www.cullenresources.com.au ASX: CUL 26 February 2025
KILLALOE JOINT VENTURE - Progress Report
(Cullen 20% - Free carried interest to Decision to Mine)
Joint Venture Manager, Lachlan Star Ltd has today made an announcement in regards to exploration results at Killaloe:
“SIGNIFICANT GOLD RESULTS HIGHLIGHT POTENTIAL OF KILLALOE PROJECT, NORSEMAN WA” (ASX: LSA; 26-2-2025).
ABOUT CULLEN: Cullen is a Perth-based minerals explorer with a multi-commodity portfolio including projects managed through a number of JVs with key partners (Rox, Capella and Lachlan Star), and a number of projects in its own right. The Company’s strategy is to identify and build targets based on data compilation, field reconnaissance and early-stage exploration, and to pursue further testing of targets itself or farm-out opportunities to larger companies. Projects are sought for most commodities mainly in Australia but with selected consideration of overseas opportunities. Cullen has a 1.5% F.O.B. royalty up to 15 Mt of iron ore production from the Wyloo project tenements, part of Fortescue’s Western Hub/Eliwana project, and will receive $900,000 cash if and when a decision is made to commence mining on a commercial basis – from former tenure including E47/1649, 1650, ML 47/1488-1490, and ML 08/502. Cullen has a 1% F.O.B. royalty on any iron ore production from the following former Mt Stuart Iron Ore Joint Venture (Baowu/MinRes/Posco/AMCI) tenements – E08/1135, E08/1330, E08/1341, E08/1292, ML08/481, and ML08/482 (and will receive $1M cash upon any Final Investment Decision). The Catho Well Channel Iron Deposit (CID) has a published in situ Mineral Resources estimate of 161Mt @ 54.40% Fe (ML 08/481) as announced by Cullen to the ASX – 10 March 2015.
Authorised for release to the ASX by: Chris Ringrose, Managing Director, Cullen Resources Limited.
REGISTERED OFFICE : Unit 4, 7 Hardy Street, South Perth WA 6151 Telephone : 089 474 5511; FAX : 089 474 5588 Contact : Dr. Chris Ringrose, Managing Director: email: [email protected]