Over 50 New Pegmatite Targets Identified Ravensthorpe Lithium Project

Bulletin Resources Limited (“Bulletin”, “BNR”) is pleased to provide an exploration update 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.

• Over 50 new pegmatite targets have been identified by Light Detection and Ranging (LIDAR) and high-resolution aerial imagery
• LIDAR has been successfully used within the region by other explorers and producers as a key exploration tool for the discovery of pegmatites
• The survey demonstrates a high likelihood of discovering additional previously unknown pegmatite outcrops along the Eastern Pegmatite Trend
• Significant additional targets along the Western Pegmatite Trend also outlined
• Potential for discovery of a third pegmatite trend has been identified
• Bulletin remains well funded with $9.97M in cash, receivables and liquid investments

LIDAR and high resolution aerial imagery survey

The Light Detection and Ranging (LIDAR) and high resolution aerial imagery survey has created a high resolution 3D image of the earth’s surface and has identified over 50 new pegmatite targets (Figure 1).

The survey assists the targeting of potential new pegmatite outcrops and extensions to the Western and Eastern Pegmatite Trends.

Over 100 pegmatites have already been mapped along the Eastern Pegmatite Trend and scope for more pegmatites exist to the north. The survey has identified numerous new pegmatite targets which have been unknown until now and lie along strike of the known spodumene bearing Big and Deep Purple pegmatites where rock chip grades up to 7.04 %Li2O were collected. The survey indicates additional pegmatites which are likely to be found with on-going mapping. New pegmatite targets along the Western Pegmatite Trend have also been identified at the Horseshoe pegmatite area where rock chip sampling grading up to 4.50 %Li2O have been collected (refer ASX:BNR announcements dated 21 February and 31 March 2022.

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