Bulletin Resources : More Spodumene Lithium Outcrops Found at Ravensthorpe

More Spodumene Lithium Outcrops Found

Ravensthorpe Lithium Project

21 March 2022ASX RELEASE

onlyHighlights

• Two more new areas of spodumene mineralisation discovered along the Eastern Pegmatite Trend

o Pegmatite outcrop with spodumene mineralisation discovered 700m southwest of the spodumene at Big

use	pegmatite
o Pegmatite lag with spodumene mineralisation
discovered 800m north of the spodumene at Big
pegmatite

• The repeated occurrences of spodumene along the Eastern Pegmatite Trend provide further strong evidence for lithium in the area
• Samples are at the laboratory with results to be released ASAP
• Environmental programs in support of drilling permits continue
• Bulletin remains well funded with $12.06M in cash, receivables and liquid investments

personalForIn relation to the disclosure of visual mineralisation, the Company cautions that visual indications and estimates of mineralisation abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory assay results are required to determine the grade of the visible mineralisation reported in preliminary geological mapping. Estimates of the size and grade of any mineralisation will require drilling and subsequent interpretation and analysis. The Company will update the market with laboratory analytical results when they become available.

Chairman

Paul Poli

Chief Executive Officer

Mark Csar

Non- Executive Directors

Robert Martin

Daniel Prior

Neville Bassett

Company Secretary

Andrew Chapman

Shares on Issue

1. million shares
   Listed Options

1. million
   Unlisted Options

1. million
   Top Shareholders

Goldfire Enterprises	22.8%
Top 20 Shareholders	48.5%

Market Capitalisation $41.41 million @ 14.5 cents

Bulletin Resources LimitedASX : BNR Suite 11, 139 Newcastle Street, Perth, WA 6000 I PO Box 376 Northbridge WA 6865 I phone [phone] www.bulletinresources.com

For personal use only

Bulletin Resources Limited ("Bulletin", "BNR") is pleased to provide an exploration update from recent mapping and rock-chip program on its 130km2 Ravensthorpe Lithium Project. The project is located only 12km southwest and along strike of Allkem Limited's (ASX: AKE) Mt Cattlin Lithium Mine.

On-ground mapping has identified new occurrences of outcropping and lag spodumene along the Eastern Pegmatite Trend. Spodumene bearing pegmatite outcrop has been found 700m southwest of the previously reported spodumene in lag found at Big pegmatite. Spodumene was also found in pegmatite lag 800m to the north of the Big pegmatite spodumene discovery (Figure 1). These new finds complement the known spodumene occurrences at Big, Deep Purple and Creek pegmatites and further support and significantly increase the lithium prospectivity of the Eastern Pegmatite Trend. Further details of the samples are provided in the Appendix.

Figure 1: Spodumene locations, LCT pegmatite locations and previously reported rock chip assays

above 1.0% Li2O (refer ASX announcements dated 24 January, 17 & 21 February 2022)

Bulletin's CEO, Mr Mark Csar said, "Discovering new spodumene bearing pegmatite areas some distance from the spodumene at Deep Purple, Creek and Big further underpins and reinforces the exciting lithium prospectivity of the Eastern Pegmatite Trend and the regional area. Together with the Western Pegmatite Trend and our newly acquired tenements we feel we are building a substantial lithium play in an incredibly prospective area with an operating lithium processing plant on our doorstep."

For personal use only

Figure 2: Spodumene bearing pegmatite lag 800m north of spodumene at Big pegmatite, MGA50:

770050mE, 6273050mN (above) and samples taken from the area (below)

For personal use only

Figure 3: Spodumene bearing pegmatite outcrop located 700m southwest of spodumene at Big pegmatite, MGA50: 769295mE, 627080mN (above) and samples taken from the area (below)

For personal use only

Further Work

The recent mapping campaign continues to raise the prospectivity of this underexplored area. Bulletin will continue the mapping and sampling program while environmental studies, including seasonal flora and fauna surveys required for clearing permits progress.

Figure 4: Bulletin's Ravensthorpe Lithium Project location

This ASX report is authorised for release by the Board of Bulletin Resources Limited.

For further information, please contact:

Paul Poli, Chairman

Phone: [phone]