CULLEN RESOURCES LIMITED — Regulatory Filings 2003

Aug 18, 2003

CULLEN RESOURCES LIMITED

A.C.N. 006045790

A B N 46006045790 Level 4. 118 Christie Street St Leonards NSW 2065 P.O. Box 23, St. Leonards, 1590, Australia Telephone: (612) 9437 4588 (612) 9437 4599 Fax: info@cullenresources.com.au Email: Website: www.cullenresources.com.au

ASX ANNOUNCEMENT

SHAREHOLDER UPDATE 19 AUGUST 2003

Directors are pleased to provide the following update on exploration activities:

Gunbarrel Gold	On 15 August Cullen commenced a five hole RC drilling programme (to depths of $\sim 230$ m) at the Southern Prospect with assay results expected in early September. In addition, a RAB/Aircore programme (~8000m in two phases) will commence this week to test a number of priority gold targets;
Gunbarrel Nickel	Joint Venture Manager, WMC Resources Limited, has positioned a diamond drill rig to begin deep tests of two nickel sulphide targets at "AK47" and "303";
Ashburton Gold	Joint Venture Manager, Barrick Gold Australia Ltd, plans to start Aircore/RC drilling at the Wyloo Project in late September;
Wonganoo Gold/Nickel	Data compilation has identified a number of high priority targets for gold and nickel sulphides in the southern prospect area (see Figure). First pass RAB/Aircore drilling is planned in September.

Additional information, including the Company's report for the Quarter ended 30 June, 2003, can be viewed at the Company's website (www.cullenresources.com.au).

For further information contact either Grahame Hamilton or John Horsburgh on (02) 94374588 or fax (02) 9437 4599.

ATTRIBUTION

Information in this report which relates to mineralisation is based on information compiled by Grahame Hamilton, a full time employee of Cullen Resources Limited who is a Member of the Australian Institute of Geoscientists and has relevant experience as a Competent Person as defined in the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves in relation to mineralisation being reported on.