Bulletin Resources : Second High Grade Lithium Trend Confirmed at Ravensthorpe

	21 February 2022	ASX RELEASE
		Second High Grade Lithium Trend Confirmed
			Ravensthorpe Lithium Project
	Highlights
only	• A second high grade lithium pegmatite trend (Western Pegmatite
Trend) has been confirmed parallel to the high grade spodumene
bearing Eastern Pegmatite Trend (refer ASX BNR announcement 17 Feb
2022)
• The lepidolite bearing Western Pegmatite Trend represents an
use
excellent additional second leg to the Ravensthorpe Lithium
Project
• This is the first sampling program that BNR has conducted at the
Horseshoe pegmatite which is part of this Western Pegmatite
Trend
• Horseshoe pegmatite returned rock chip assays up to 4.50% Li2O
personal	with an average assay of 3.1% Li2O, 0.8% Rb and 0.16% Cs along
a 50m long outcropping lepidolite mineralised zone
• Rock chip assays at Horseshoe pegmatite include:
o	4.50% Li2O
o	3.09% Li2O
o	2.85% Li2O
o	2.79% Li2O
o	2.68% Li2O
o	2.39% Li2O
• Additional known lepidolite zones at Horseshoe pegmatite
remain to be tested
• Bulletin will advance exploration of both the Western Pegmatite
Trend as well as the Eastern Pegmatite Trend where exceptional
spodumene results were recently reported
For
• Bulletin remains very well funded with $12.06M in cash,

receivables and liquid investments

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	52.6%

Market Capitalisation $45.69 million @ 16 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 laboratory results from recent rock-chip sampling conducted at the Western Pegmatite Trend at its Ravensthorpe Lithium project. The project is located only 12km southwest and along strike of Allkem Limited's (ASX: AKE) Mt Cattlin Lithium Mine.

Western Pegmatite Trend

An initial, limited rock-chip sampling program at regular 10m intervals along the strike of a 1m wide and 50m long, lepidolite rich, outcrop in the southern portion of the Horseshoe pegmatite returned lithium grades up to 4.50% Li2O with an average grade of 3.1% Li2O, 0.8% Rb and 0.16% Cs (Figures 1 - 3).

Laboratory results of the six rock chip samples at Horseshoe pegmatite are:

1. 4.50% Li2O o 3.09% Li2O o 2.85% Li2O o 2.79% Li2O o 2.68% Li2O o 2.39% Li2O

Figure 1: LCT pegmatites and rock chip assays above 1.0% Li2O at Horseshoe pegmatite highlighted in yellow with previously reported results highlighted in white (refer ASX announcements dated 13 December 2021 and

17 February 2022)

For personal use only

Bulletin CEO, Mr Mark Csar said, "following on from the recently reported exceptional spodumene and amblygonite lithium rock chip assays at Big pegmatite within the Eastern Pegmatite Trend, it is extremely pleasing to report high grade lithium assays within the Western Pegmatite Trend. We now have a great opportunity to progress two lithium plays only a few kms apart in this incredibly prospective area with an operating lithium processing plant only 12km away."

Further work

The previous explorer, Lithium Australia, mapped extensions to the lepidolite zone sampled in this recent mapping program at the Horseshoe pegmatite and these extensions will be sampled to gain a better understanding of the potential of the area (Figure 2). While no spodumene has been mapped as of yet in this part of the Horseshoe pegmatite, the remainder of Horseshoe as well as other outcropping pegmatites in the Western Pegmatite Trend will be investigated to evaluate their potential economic value.

A full set of results is provided in Appendix 1.

Figure 2: Lepidolite lithium assays of the southern portion of Horseshoe pegmatite on a background of

Lithium Australia (ASX:LIT) mapping (reference: DMIRS Wamex report a123854 (modified))

For personal use only

Figure 3: Lepidolite lithium mineralisation at Horseshoe pegmatite

For personal use only

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]

Appendix 1 - Rock Chip Samples

Sample detail

Sample ID	Easting	Northing	Pegmatite	Description	Li2O	Ba	Cs	K	Nb	Rb	Sn	Ta
B014057	766717	6272171	Horseshoe	Large schorls within albite, muscovite and quartz matrix	0.09	20	39	0.3	20	210	70	10
B014058	766897	6271905	Horseshoe	Lepidolite vein contacting the quartz core	2.79	40	868	5.5	90	7,290	90	236
B014059	766900	6271915	Horseshoe	Lepidolite vein contacting the quartz core	2.68	80	667	5.4	55	6,780	80	117
B014060	766898	6271923	Horseshoe	Lepidolite vein contacting the quartz core	2.85	50	967	5.8	70	7,470	50	112
B014061	766899	6271930	Horseshoe	Lepidolite vein contacting the quartz core	4.50	150	5,663	7.9	225	11,570	40	5,692
B014062	766902	6271942	Horseshoe	Lepidolite vein contacting the quartz core	2.39	80	835	5.5	110	6,490	130	170
B014063	766907	6271948	Horseshoe	Lepidolite vein contacting the quartz core	3.09	80	890	7.1	70	8,540	120	84