65 business days, page-102

WESTERN AUSTRALIA | LITHIUM EXPLORATION In May-June 2016, Cullen Resources Limited (“Cullen” or the “Company”) completed a preliminary field review of its Pilbara tenement applications for lithium pegmatite mineralisation. Numerous pegmatites were observed and sampled in both the Pilgangoora North East (ELA 45/4626) and Wodgina West (ELA 45/4682) prospect areas in the Pilbara - fieldwork guided by mineral occurrences from published maps (MINEDEX database) and historical information but pegmatites sampled by Cullen were generally more widespread than existing data indicated. (ELA 45/4626) is centred ~ 30km north east of the Pilgangoora Lithium deposits* where the world's second largest deposits of spodumene (lithium-bearing pyroxene) has recently been defined; and the second, (ELA 45/4682), lies in part immediately west of the Wodgina Mine**, one of the world's largest hard rock tantalum resources. This tenement application also lies on- strike to the north of the Stannum Prospect (of Metalcity - ASX: MCT). (*Pilbara Minerals Ltd: ASX-PLS/Altura Mining Ltd: ASX-AJM **Global Advanced Metals) The results of rock chip sample assaying confirm the north eastern sector of the ELA 45/4626, characterised by magnetic anomalies, includes samples with lithium mineralisation with two samples (from the one site) reporting 1.21% Li O and 1.12% Li O in a “muscovite schist”. These two samples also have high Rb (to 0.52%), high Ta O (to 2 2 2 5 240ppm) and high Sn (to 264ppm). Another two samples from this north-eastern target area reported 0.2% and 0.18% Li O in pegmatites. Each of these three samples is close to a discrete unit of monzonitic granite, as shown on the 2 1:250,000 geological map. Field review of targets areas for lithium pegmatite mineralisation within Cullen's ELA70/4803 in May 2006, south west of the Greenbushes Mine, found just two pegmatitic granite outcrops, and four reconnaissance pisolites samples were collected from ELA70/4802 – access is very limited in these areas due to areas of jarrah dieback control.