Cullen Resources Limited · ASX:CUL

Cullen Resources — Investor Presentation (September 2007)

43 slides from Cullen Resources's investor presentation, Sep 17, 2007

1. Slide 1: Cullen Resources Investor Presentation ASX Announcement

   17 September 2007 For personal use only ASX ANNOUNCEMENT CULLEN RESOURCES LIMITED INVESTOR PRESENTATION By Electronic Lodgement Attached is Cullen Resources Limited's current Investor Presentation Dr Chris Ringrose Managing Director For further information contact: Chris Ringrose on (08) 9474 5511 T

2. Slide 2: Investor Presentation – September 2007

   For personal use only Cullen Resources Limited INVESTOR PRESENTATION – SEPTEMBER 2007

3. Slide 3: Important Notice

   For personal use only 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,

4. Slide 4: For personal use only

   30% of JORC For personal use only Excellent Fe Resource uranium - 68Mt @ portfolio 55.38% Fe 10 JV’s – Leading edge including geochem for major new projects partners Aggressive Project Generation

5. Slide 5: Cullen Fundamentals

   Cullen Fundamentals For personal use only • Directors Dr Chris Ringrose (Managing Director) Dr Denis Clarke (Chairman) Wayne Kernaghan (Company Secretary) John Horsburgh (Non Exec) Grahame Hamilton (Non Exec) • Chief Geologist – Dr Matthias Cornelius • Number of shares – ~480M with 16M unlisted opti

6. Slide 6: One year Share graph – Cullen Resources

   One year Share graph – Cullen Resources For personal use only 2007

7. Slide 7: Cullen's Main Project Areas and JV's

   Cullen’s Main Project Areas and JV’s For personal use only Several JV’s, with great partners : Several Commodities: BHP Billiton x 2 (Ni) Minotaur (Cu - Au) Thundelarra (U) API JV (Aquila-50%) (Fe) Nickel FMG x 2 (Fe) Intrepid (Au) Hannans Reward (Ni, Au) Red Hill Iron (Au, BM) Gold Uranium Mt Mt Is

8. Slide 8: Cullen's Current JV's and Near Term Activities

   Cullen’s Current JV’s and Near Term Activities For personal use only JV’S WITH : - • API (Fe) - PRE FEASIBILITY STAGE - Cullen (30%)* • BHP Billiton (Ni) – HAS DRILLED EM TARGETS (Assays pending Sep’07) • THUNDELARRA (U) – TO FLY AEM OVER U-CHANNEL ANOMALIES • MINOTAUR (Cu-Au) - PLANNING DRILLING OF

9. Slide 9: Cullen's Project Portfolio

   Cullen’s Project Portfolio For personal use only Pre feasibility stage Targeting mineralized trends Advanced Projects Early Stage

10. Slide 10: Iron Ore Projects

    For personal use only Cullen Resources Limited IRON ORE PROJECTS

11. Slide 11: West Pilbara – Mt Stuart Iron Ore JV with API

    West Pilbara – Mt Stuart Iron Ore JV with API For personal use only

12. Slide 12: West Pilbara Channel Iron Ore Projects

    West Pilbara Channel Iron Ore Projects For personal use only

13. Slide 13: Red Hill Iron Limited – JV for gold and base metals

    Red Hill Iron Limited – JV for gold and base metals For personal use only

14. Slide 14: Wyloo Project – Iron Ore JV with FMG Limited

    Wyloo Project – Iron Ore JV with FMG Limited For personal use only

15. Slide 15: Paraburdoo Project – Iron Ore JV with FMG

    Paraburdoo Project – Iron Ore JV with FMG For personal use only

16. Slide 16: Ashburton and West Pilbara JV Projects - Summary

    Ashburton and West Pilbara JV Projects - Summary For personal use only

17. Slide 17: Uranium Portfolio

    For personal use only Cullen Resources Limited URANIUM PORTFOLIO TUNNEL CREEK JV – UNCONFORMITY, ASHBURTON REGION, WA NORTH YILGARN – PALAEOCHANNEL TARGETS , WA LAKE MACKAY – IOCG and PALAEOCHANNEL, CENTRAL AUSTRALIA AMADEUS BASIN – SANDSTONE HOSTED, NORTHERN TERRITORY ARUNTA REGION – VEIN, PALAEOCH

18. Slide 18: Cullen's Uranium Portfolio

    Cullen’s Uranium Portfolio For personal use only ~9,500 sq km

19. Slide 19: Tunnel Creek JV - Unconformity Target Type

    Tunnel Creek JV - Unconformity Target Type For personal use only

20. Slide 20: Tunnel Creek JV– Uranium Channel Radiometrics

    Tunnel Creek JV– Uranium Channel Radiometrics For personal use only

21. Slide 21: North East Goldfields Uranium Projects

    North East Goldfields Uranium Projects For personal use only

22. Slide 22: Carbonatite in North Yilgarn – REE +/- U

    ? Carbonatite in North Yilgarn – ? REE +/- U For personal use only Aeromag. and landscape

23. Slide 23: Lake Mackay Projects – Uranium and IOCG

    Lake Mackay Projects – Uranium and IOCG For personal use only

24. Slide 24: Northern Territory Projects – Tenement applications

    Northern Territory Projects – Tenement applications For personal use only

25. Slide 25: Amadeus Basin – Tenement Application/Previous work

    Amadeus Basin – Tenement Application/Previous work For personal use only

26. Slide 26: Amadeus Basin – Cullen Application + Radiometrics

    Amadeus Basin – Cullen Application + Radiometrics For personal use only Intersections from previous drilling: H21 26.65- 27.15 0.5m @ 4700ppm U30 8 J25 36.5-37.0 0.5m @ 1900ppm U30 8 J60 65.6-66.0 0.4m @ 4100ppm U30 8

27. Slide 27: South Australia – Applications

    South Australia – Applications For personal use only

28. Slide 28: Gold Projects

    For personal use only Cullen Resources Limited GOLD PROJECTS

29. Slide 29: Coolgardie – Several walk-up drill targets

    Coolgardie – Several walk-up drill targets For personal use only Option to purchase tenement package in highly mineralized area

30. Slide 30: Coolgardie Project – Immediately adjoins old gold mine

    Coolgardie Project – Immediately adjoins old gold mine For personal use only Aerial photo shows proximity to old gold mines

31. Slide 31: Coolgardie Project – Summary of prospectivity

    Coolgardie Project – Summary of prospectivity For personal use only PLANNED WORK: -mapping; sampling and compilation; - RC drilling

32. Slide 32: Woodcutters – grass roots gold project

    Woodcutters – grass roots gold project For personal use only First pass reconnaissance sampling has generated regional scale anomalies

33. Slide 33: Woodcutters – in emerging new exploration corridor

    Woodcutters – in emerging new exploration corridor For personal use only Calcrete anomalies defined – Air core drilling to follow

34. Slide 34: Nickel Sulphide Exploration Projects

    For personal use only Cullen Resources Limited NICKEL SULPHIDE EXPLORATION PROJECTS

35. Slide 35: Wonganoo and Gunbarrel – Nickel JV's

    Wonganoo and Gunbarrel – Nickel JV’s For personal use only

36. Slide 36: Forrestania – JV with Hannans Reward

    Forrestania – JV with Hannans Reward For personal use only ~12km north of Western Areas Flying Fox nickel deposit

37. Slide 37: Norseman – Killaloe Project Gold and Nickel

    Norseman – Killaloe Project Gold and Nickel For personal use only

38. Slide 38: Norseman - Killaloe Gold and Nickel (Cullen 100%)

    Norseman - Killaloe Gold and Nickel (Cullen 100%) For personal use only

39. Slide 39: Queensland and NSW

    For personal use only Cullen Resources Limited QUEENSLAND AND NSW

40. Slide 40: Duchess Project, JV with Minotaur - Queensland

    Duchess Project, JV with Minotaur - Queensland For personal use only

41. Slide 41: Duchess – JV with Minotaur

    Duchess – JV with Minotaur For personal use only

42. Slide 42: Minter Tungsten Project, NSW

    Minter Tungsten Project, NSW For personal use only

43. Slide 43: Cullen - Conclusions

    Cullen - Conclusions For personal use only • WELL PLACED FOR A DISCOVERY THROUGH AGGRESSIVE MULTI-PRONGED APPROACH – JV’S AND NEW PROJECTS • JV’S WITH : BHPB x 2 (Ni); INTREPID (Au); MINOTAUR (Cu-Au); HANNANS REWARD (Ni and Au); FMG x 2 (Fe), API (Fe); THUNDELARRA (U); RED HILL IRON (Au, BM). • CONT

Cullen Resources — Investor Presentation (September 2007) on 6ix