BULGOLD Inc. announced that it has exercised its option to acquire 100% of the Lutila Gold Project in Slovakia for the price of EUR 100. The Lutila exploration licence covers an area of 32.2km2, hosts a significant amount of target areas, is prospective for epithermal gold mineralization and has been granted for an initial 4-year period. Highlights: Large (35km2) volcanic rock-hosted, low-sulfidation, quartz-adularia epithermal system; Rhyolite flow dome complexes define a series of topographic highs within the licence area which cumulatively extend for approximately 10km; these rhyolite ridges are in turn surrounded by a large (27km2) sinter field; Limited historic exploration diamond drilling focused on the northeast portion of the property (along strike from the Kremnica gold deposit) where the sinters have been removed by erosion to expose silicified rhyolite flow domes with chalcedonic quartz veins containing low-grade gold and elevated arsenic and antimony values; The sinter field has not been drill tested for gold mineralization; it has been extensively drill tested for bentonite (average hole depth 20m); The company believes that the current land surface is approximately 200-300m above the precious metal zone (i.e., the low-sulfidation epithermal system is preserved) and it is the company?s opinion that the historic drilling had not tested the true potential of this large epithermal system; The Property is located 5km south, along strike and within the same volcanic depression that hosts the historic quartz-adularia Kremnica gold deposit (current JORC (2012) mineral resource estimate of 2.7Moz Au); Exploration target: high-grade gold (Au) ± silver (Ag) quartz veins; underground mining scenario.