Cullen Resources : Ground EM to commence at Wongan Hills

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For personal use only ASX Announcement www.cullenresources.com.au ASX:CUL 14 March 2022 Ground EM to commence this week at Wongan Hills WONGAN HILLS PROJECT, WA - targeting Volcanic-Hosted Massive Sulphide (VHMS) Cu-Zn-Ag-Au and Ni-Cu-PGE mineralisation (Cullen 90%) Ground Time-domain Electromagnetic Survey to commence at the Rupert and Rupert South Prospects this week to follow-up prominent VTEM anomalies south of WHAC148 and 151. Approximately 50 survey stations planned by Southern Geoscience (SGC) on 4 survey lines for a total of 4 to 5 line km of coverage over a target strike length of 3km. One line is planned across Rupert and three across the Rupert South Prospects (Fig. 1). Some VTEM anomalies have been partially traversed by air core drilling but with no sulphides intersected in any air core holes (Figs.1 and 2). BACKGROUND In January 2022, RC drilling further tested a strong ground EM conductor (Model C3) at Rupert and outlined a lensoidal (possibly intrusive) body of ultramafic with a best intersection of 30m @ 1161 ppm Ni, with 22ppm Cu, and 80ppm Co (WHRC14 from 115-145m) - similar to that in previous hole RC6 which contained trace nickel sulphides (ASX:CUL:16-2-2022). Air core hole WHAC148 500m south-southeast of RC6 returned 15m @ 1963 ppm Ni, with 227 ppm Co, from 5m - max 5m composite sample of 3021ppm Ni with 389ppm Co and , WHAC 151 , 230m west on the same x-section, returned 17m @ 1802 Ni, 160 ppm Co from 20m to End of Hole, 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] For personal use only Proposed Ground EM - Wongan Hills, March 2022 These Ni-Co intersections partially overlie coincident, discrete magnetic +/-VTEM anomalies at the northern tip of an untested strike-extensive (~3km) magnetic belt (Figs. 1 and 2), and together with area RC6 are interpreted to be part of a prospective mafic-ultramafic complex. Fig.1. Wongan Hills: Left - VTEM image (FVD, channel 47 - z component), and Right - Magnetic image from Drone survey. Planned 4, Ground EM profiles (MLEM) across prominent VTEM anomalies. 2 Proposed Ground EM - Wongan Hills, March 2022 For personal use only Fig.2. RC and AC target drilling completed Jan 2022, at Rupert with significant results highlighted (Drone Mag Image) - ASX:CUL, 16-2-2022. 3 Proposed Ground EM - Wongan Hills, March 2022 For personal use only 3466 Fig.3 . Location of January 2022 RC (13-17) and air core drilling on aerial photo. Historical drilling by VAM Ltd (1970) reported up to: 7600ppm Ni, 780ppm Co with 2800 ppm Cr in hole 3466 from 16-18 feet (WAMEX A18337) which lies in the southern part of E4882 and supports the on-trend occurrence of ultramafics south from the Rupert Prospect. VAM targeted bauxite and Ni-Cu. 4 Proposed Ground EM - Wongan Hills, March 2022 For personal use only Wongan Hills Project Location Map Wongan Hills Project set amongst significant Regional Exploration Activity with industry attention focused on what may be an emerging nickel - copper - PGE province to the north east of Perth. There is also a notable copper resource near Calingiri (see Caravel Minerals Limited, ASX:CVV, "Caravel Copper Project") just south of the Wongan Hills project. 5 This is an excerpt of the original content. To continue reading it, access the original document here .

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