Bullman Announces a $3.7 Million Third Tranche Private Placement

Vancouver, British Columbia--(Newsfile Corp. - December 21, 2016) - Bullman Minerals Inc. (TSXV: BUL) (the "Issuer") announces, further to its news release dated September 12, 2016, that it is carrying out the third tranche of a non-brokered private placement ("Non-Brokered Financing") of 37 million common shares at $0.10 per share for gross proceeds of $3,700,000.

The sole place is D&S International Investment Ltd. ("D&S") of Hong Kong which is already an insider of the Issuer and "control person" as such term is defined in applicable regulatory policies (having become so pursuant to the second tranche of the private placement). The sole shareholders and principals of D&S are Anping Wang and Xinyu Zhang.

A finders' fee in shares equal to 4% of the amount subscribed is payable. The proceeds of the Non-Brokered Financing will be added to working capital. The Non-Brokered Financing is subject to regulatory approvals.

ON BEHALF OF THE BOARD

SIGNED: "Peter Yue"

Peter Yue, CEO and Director
Contact: Peter Yue (604) 336-8618

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES