HIGHLIGHTS
- Kula Gold unveils next steps for its niobium critical minerals project in Malawi, including spin-off and shareholder opportunities.
- Kula is pleased to announce the upcoming commencement of drilling activities next month at its Wozi Niobium Project, located in Malawi. This marks a significant milestone for the project and demonstrates the Company’s commitment to advancing critical mineral resources in Africa.
Figure 1. Wozi Niobium Project location map
Wozi Niobium Project Details:
The Wozi Niobium Project is situated in the mineral-rich region of Malawi, known for its favourable geology and infrastructure access.
The scheduled drilling campaign is expected to enhance the geological understanding and resource potential of this strategically important asset, with drilling operations set to begin in November 2025.
Corporate Action:
Spin-off into Niobium International Ltd.
The recent exploration results from Wozi indicate a substantial system that once confirmed with upcoming drilling, will then require a focussed team and exploration effort to take the project quickly through to a resource stage and then feasibility studies.
Kula is pleased to announce that, subject to drilling results adding to the exploration results to date, its intention to spin off the Wozi Niobium Project into a newly formed entity, Niobium International Ltd. Subject to board and regulatory (including shareholder) approvals and minimum holding requirements, Kula intends to distribute its shareholding in Niobium International Ltd prorata to all current Kula shareholders as at a record date to be determined.
This strategic initiative aims to unlock value and provide direct exposure to the rapidly growing niobium market and Kula can continue its core focus on gold discovery at the Mt Palmer Gold Project in WA’s Southern Cross Goldfields.
Shareholder Information:
Distribution and Fundraising Priority
It is intended that all eligible Kula shareholders will receive pro-rata shares in Niobium International Ltd, subject to minimum holding criteria designed to ensure an efficient distribution process. In addition, shareholders will be offered a priority entitlement to participate in the upcoming fundraising round, supporting Niobium International Ltd’s possible stock exchange listing. This priority access is designed to reward loyal investors and provide an opportunity to further invest in the growth phase of Niobium International Limited.
Market Context:
Niobium’s Critical Mineral Status and Recent Prices
Niobium is recognised as a critical mineral on the United States Critical Minerals List, reflecting its importance in advanced manufacturing, steel production, and emerging technologies. Recent market data indicates robust pricing for niobium, with prices for ferroniobium currently trading around US$45 per kilogram, (US$45,000 per tonne) driven by strong demand in global infrastructure and energy applications. This positions the Wozi Niobium Project and Niobium International Ltd at the forefront of a strategically vital sector.
Kula remains optimistic about the potential of the Wozi Niobium Project and the value creation opportunities stemming from the spin-off. The Company will continue to update shareholders and investors as drilling progresses and the spin-off transaction moves forward.
Further details regarding the fundraising process, stock exchange listing timeline, and eligibility criteria will be provided in subsequent communications.
Exploration Results
The exploration results referred to in this announcement were announced to ASX on 25 September 2025 and 21 July 2025. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements.
Forward-Looking Statements
This announcement contains certain forward-looking statements and comments about future events, including the Company’s expectations about the proposed exploration program and spin-off of Niobium International Ltd. Forward looking statements can generally be identified by the use of forward-looking words such as ‘expect’, ‘anticipate’, ‘likely’, ‘intend’, ‘should’, ‘could’, ‘may’, ‘predict’, ‘plan’, ‘propose’, ‘will’, ‘believe’, ‘forecast’, ‘estimate’, ‘target’ and other similar expressions within the meaning of securities laws of applicable jurisdictions.
Forward looking statements involve inherent risks and uncertainties, both general and specific, and there is a risk that such predictions, forecasts, projections and other forwardlooking statements will not be achieved. Forward looking statements are provided as a general guide only and should not be relied on as an indication or guarantee of future performance. Forward looking statements involve known and unknown risks, uncertainty and other factors which can cause the Kula’s actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements and many of these factors are outside the control of the Company. As such, undue reliance should not be placed on any forward-looking statement. Past performance is not necessarily a guide to future performance and no representation or warranty is made by any person as to the likelihood of achievement or reasonableness of any forward-looking statements, forecast financial information or other forecast. Nothing contained in this announcement nor any information made available to you is, or shall be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of the Company. Except as required by law or the ASX Listing Rules, the Company assumes no obligation to provide any additional or updated information or to update any forward-looking statements, whether as a result of new information, future events or results, or otherwise.
References:
ASX Release1 Soil Sampling Program Results – Wozi Niobium Project 25 September 2025
ASX Release2 Exploration Commences in Malawi – Critical Minerals Project 21 July 2025
Competent Person Statement
The information in this announcement that relates to geology, exploration and visual estimates is based on, and fairly represents, information and supporting documentation compiled by Mr. Ric Dawson, a Competent Person who is a member of the Australian Institute of Mining and Metallurgy. Mr. Dawson is a Geology and Exploration Consultant who has been engaged by Kula Gold Limited and is a related party of the Company. Mr. Dawson has sufficient experience, which is relevant to the style of mineralisation, geology and type of deposit under consideration and to the activity being undertaken to qualify as a competent person under the 2012 edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (the 2012 JORC Code). This market announcement is issued with the prior written consent of Mr. Dawson as to the form and context in which the exploration results, visual estimates and the supporting documentation are presented in the market announcement. All drill results reported are drill widths unless otherwise noted.
News Release
Date: 10 October 2025 | ASX Code: KGD
About the Company
Kula Gold Limited (ASX: KGD) is a Western Australian mineral exploration company with expertise in the discovery of new mineral deposits in WA. The strategy is via large land positions and structural geological settings capable of hosting ~+1m oz Gold or equivalent sized deposits including Lithium.
The Company is advancing projects within the WA goldfields at the Mt Palmer Gold Project at Marvel Loch Southern Cross, the South West region of WA for Lithium and Gold at Kirup and Brunswick – near the world class Greenbushes Lithium Mine, as well Lithium at the Taliah-Nadia-Sasha Prospects at Southern Cross. The Company added the Wozi Niobium Project in Malawai in mid-2025.
Kula discovered the large 93.3mt Boomerang Kaolin deposit near Southern Cross WA – Maiden resource announced 20 July 2022. This project is in the economic study phase and moving to PE funding or trade JV.
The Company has a history of large resource discoveries with its foundation being the Woodlark Island Gold project in PNG, (+1m oz Gold) which was subsequently joint ventured and sold to (ASX: GPR).
Contact the Company Secretary for more information – +61(08) 6144 0592 or cosec@kulagold.com.au
