Kula-Gold-Logo-80

Notice of Annual General Meeting

Notice is hereby given that the Annual General Meeting (AGM) of shareholders of Kula gold Limited (the Company) will be held at Suite 2, Level 15, 1 York Street, Sydney NSW 2000 on Tuesday 26 May 2015 at 11.00am (AEST) (Meeting).

The Explanatory Notes to this Notice provides additional information on matters to be considered at the Meeting. The Proxy Form and Explanatory Notes form part of this notice.

Kula-Gold-Logo-80

Woodlark Island Gold Project Delivers Further Exciting Exploration Results

  • Watou Prospect confirms continuity of significant surface gold mineralisation

  • Two continuous ore grade zones delineated and a third zone identified with mineralisation open along strike, including trench assay results of:

 – 8 metres @ 4.46g/t Au
– 23 metres @ 2.03 g/t Au

  • Mineralisation located in close proximity to the Woodlark King Deposit

  • Watou mineralisation demonstrates the potential for Woodlark to deliver additional resource ounces

     

Kula-Gold-Logo-80

Fosters Stockbroking – Production-ready project with scalable upside

Investment Highlights:

  • KGD owns 100% interest in the Woodlark Island Gold Project in Papua New Guinea, which is fully permitted with grant of mining lease and receipt of environment permit. The Project has 2.1Moz of JORC Resource gold at 1.5g/t, including a higher grade JORC Reserve of 766koz at 2.2g/t.
  • KGD has completed a Feasability Study on a 1.8Mtpa operation the Woodlark Project, as well as a Scoping Study for a 4Mtpa scenario. Mining is open pit of three deposits located within close proximity and conventional gravity/CIL plant.
  • We demonstrate that further conversion of inferred resources to reserves, as well as exploration can markedly improve valuation of Woodlark Project, by underpinning a longer life 1.8Mtpa operation or a staged 4Mtpa expansion.
  • In order to identify drill targets under the sedimentary cover, KGD undertook a helimag survey, which has improved on previous operator’s aeromag. Initial results from targets identified by helimag have been promising, with a successful drill hole and trenching results. This provides us with confidence that the Woodlark Project can grow in size and life.
  • KGD has minimized social risk to the Project, with completion of both a compensation and relocation agreements with the local communities. The company is also in the final stages of completing a Memorandum of Agreement with the National, Provincial, and Local government, as well as local landowner communities. The PNG government has decided to take 5% equity in the Project which should further align government and KGD’s interests.
  • The Project is currently supported by reasonable flat terrain, a well serviced camp, good network of roads, and airstrip.
Kula-Gold-Logo-80

$6.5 million Equity Fundraising Completed

  • Company now debt free and funded to add value at the Woodlark Island Gold Project

  • Debt facility closed with the conversion of debt into equity

  • Second tranche of Placement shares issued, funds received

  • Exploration activities continue on cost constrained basis targeting increasing higher grade Resources

  • Project development funding plans commenced in readiness for faster project development

 

Kula-Gold-Logo-80

RESULTS OF ANNUAL GENERAL MEETING

Kula Gold Limited (ASX: KGD), provides the following information regarding the results of the General Meeting of the Company held on 26 November 2014 in accordance with Listing Rule 3.13.2 and Section 251AA of the Corporations Act 2001 (Cth).

Resolution 1: Ratification of Issue of Shares

This resolution was passed, as an ordinary resolution on a show of hands.

The valid proxy votes lodged for this resolution were:

FOR AGAINST OPEN ABSTAIN
92,521,423 519,449 116,403 700

 

Resolution 2: Approval of Issue of Shares

This resolution was passed, as an ordinary resolution on a show of hands.

The valid proxy votes lodged for this resolution were:

FOR AGAINST OPEN ABSTAIN
86,508,089 519,449 116,403 499,033

 

Resolution 3: Approval of Issue of Options

This resolution was passed, as an ordinary resolution on a show of hands.

The valid proxy votes lodged for this resolution were:

FOR AGAINST OPEN ABSTAIN
86,458,089 569,449 116,403 499,033

 

Resolution 4: Approval of Shares and Options to RMB

This resolution was passed, as an ordinary resolution on a show of hands.

The valid proxy votes lodged for this resolution were:

FOR AGAINST OPEN ABSTAIN
110,819,545 569,449 116,403 5,700

 

Resolution 5: Approval of Shares and Options to Related Parties

This resolution was passed, as an ordinary resolution on a show of hands.

The valid proxy votes lodged for this resolution were:

FOR AGAINST OPEN ABSTAIN
43,630,573 565,249 137,487 28,603,758

 

Resolution 6: Approval of Shares and Options to Mr David Frecker

This resolution was passed, as an ordinary resolution on a show of hands.

The valid proxy votes lodged for this resolution were:

FOR AGAINST OPEN ABSTAIN
123,360,410 653,246 125,603

 

Resolution 7: Approval of Shares and Options to Mr Louis Rozman

This resolution was passed, as an ordinary resolution on a show of hands.

The valid proxy votes lodged for this resolution were:

FOR AGAINST OPEN ABSTAIN
123,360,410 653,246 125,603

 

Resolution 8: Approval of Shares and Options to Mr Mark Stowell

This resolution was passed, as an ordinary resolution on a show of hands.

The valid proxy votes lodged for this resolution were:

FOR AGAINST OPEN ABSTAIN
123,354,520 653,246 131,493

For and on behalf of the Board.
Leanne Ralph
Company Secretary

Kula-Gold-Logo-80

Technical Report on Review of Exploration Targets Based on 2014 Helimag Program

Kula Gold has recently completed a high quality helicopter magnetics survey and reviewed this along with the current geological knowledge gained from the discovery of the 2.1 million ounce Mineral Resource. The highlights of this work have been presented in a number announcements and investor presentations. A detail report of the work has now been completed.

A copy of the report can be found on the below link

Kula-Gold-Logo-80

Kula Gold Appoints Strategic Advisors for Australia and North America – 29 October 2014

Kula Gold Limited (ASX: KGD) is pleased to advise that it has appointed Foster Stockbroking Pty Ltd and Cormark Securities Inc. as strategic advisors in Australia and North America respectively, to assist with negotiations around the future funding and development of Kula’s flagship Woodlark Island Gold Project in Papua New Guinea. This follows a number of enquiries from these sources.

Foster Stockbroking is a highly regarded growth focused investment bank based in Sydney, Australia who recently acted as Sole Lead Manager to the A$3.56 million institutional equity placement completed by Kula Gold. Their client base spans across Australia, Asia, US and the UK and comprises both institutional and strategic investors and in the last 12 months alone it has led a total of over $200 million in equity financings for ASX listed companies.

Cormark Securities is a leading independent investment dealer with offices in Toronto and Calgary, with extensive experience providing advice to clients in North America. Since 2008, Cormark have participated in ~US$16 billion of mining financings and advised on ~US$5 billion of mining M&A activity. Most recently Cormark has advised on the US$351 million sale of Brigus Gold and the US$400 million sale of Sulliden Gold in 2014.

The appointment of Foster Stockbroking and Cormark Securities will assist in all ongoing negotiations and strategies to unlock value for Kula’s shareholders.

Kula Gold CEO Mr Stuart Pether commented, “We are very pleased to have appointed two experienced and well regarded strategic advisors to assist us with identifying the best form of investment for the Company’s flagship Woodlark Island Gold Project.

“The recent completion of the $3.56 million institutional equity placement highlights the strong level of support the Company has secured for the continued development of Woodlark Island Gold Project. We look forward to updating our shareholders on any corporate developments in due course”.

For further information, please contact:

Stuart Pether
Chief Executive Officer
Tel +61 2 9262 5651
Suite 2, Level 15, 1 York Street
Sydney, NSW 2000, Australia
E: info@kulagold.com.au
W: www.kulagold.com.au
Twitter: @KulaGold