KULA GOLD TO ACQUIRE HISTORIC MT PALMER GOLD MINE

Significant Acquisition to Boost Marvel Loch Project

Kula Gold Limited (ASX: KGD) is set to acquire the historic Mt Palmer Gold Mine, which was last commercially mined in 1944.

This acquisition enhances Kula’s Marvel Loch Project, presenting multiple gold prospects and a significant opportunity to discover additional high-grade gold mineralisation. Situated just 15km from the Marvel Loch gold processing plant, this strategic move aligns with Kula’s strategy of exploring near existing operations to expedite any discovery to monetary success. Additionally, indications of Lithium and Rare Earth Elements (REE) in the greater Southern Cross region will be analysed alongside gold, similar to the existing Wesfarmers’ Mt Holland Lithium Project.

Kula Gold plans to raise $1,210,000 via a placement to professional and sophisticated investors.

Kula’s Managing Director Ric Dawson commented:

This acquisition is in alignment with the Company’s strategy to add assets near to existing operations to fast track any discovery to monetary success. This historical rich ‘half ounce’ gold mine has huge potential of high-grade gold and is a priority drilling target for Kula.

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