Kula Gold’s Westonia Divestment and Wozi Niobium Anomaly Signal Strategic Shift

Exploration Milestones at Mt Palmer

Kula Gold Limited has made significant strides in its exploration efforts during the September 2025 quarter, highlighted by the announcement of a maiden JORC 2012-compliant inferred tailings resource at the Mt Palmer Gold Project. The resource estimate reports 98,534 tonnes grading 0.63 grams per tonne of gold, marking a promising development on a granted mining lease. This milestone provides a tangible asset base for the company and underpins further exploration and potential processing opportunities.

Complementing this, Kula Gold has advanced its drilling programs with 17 reverse circulation holes completed targeting shallow extensions across multiple lodes. A larger RC rig has since commenced deeper drilling, with assay results expected soon, while diamond drilling is underway to refine structural understanding and identify mineralisation trends. These efforts aim to expand the resource base and unlock additional value at Mt Palmer.

Strategic Financing and Asset Management

On the corporate front, Kula Gold successfully raised $2.5 million through a strategic placement to Forrestania Resources Limited, issuing over 114 million shares at 2.2 cents each. This capital injection strengthens the company’s balance sheet, supporting ongoing exploration and operational activities. Additionally, the company divested its 100% owned Westonia Project to Forrestania Resources, securing an upfront payment of $500,000 and a deferred payment contingent on the discovery of a significant JORC-compliant resource. This move allows Kula Gold to focus resources on its core projects while retaining upside potential from Westonia.

Wozi Niobium Project Advances in Malawi

Internationally, Kula Gold’s Wozi Niobium Project in Malawi received formal tenement approval, enabling the commencement of a comprehensive field exploration program. Soil sampling results confirmed a robust niobium oxide anomaly exceeding 0.4% Nb2O5 over a 200-metre strike, with peak values reaching 1.08%. These encouraging findings have set the stage for a maiden drilling campaign planned for November 2025, aimed at delineating the scale and continuity of the mineralisation. The company is also evaluating additional tenure to potentially expand the project footprint.

Financial Position and Outlook

As of the quarter’s end, Kula Gold reported a healthy cash position of $2.7 million, supported by recent capital raises and prudent expenditure management. Exploration outlays totaled $410,000, reflecting active drilling and fieldwork, while corporate costs remained controlled. The company’s joint venture arrangements, including the Mt Palmer JV partner’s equity transfer to Newcam Minerals, add complexity but also potential strategic partnerships moving forward.

Overall, Kula Gold’s quarterly report paints a picture of a company progressing steadily through exploration phases, bolstered by strategic financing and asset rationalisation. The pending assay results from Mt Palmer’s drilling programs and the upcoming Wozi drilling campaign will be critical catalysts for the next phase of value creation.