BULGOLD Inc. announced that it has now completed the maiden drilling programme on the Kutel Gold Project and all assay results have been returned, validated and incorporated into the Company?s database. Three diamond drill holes were drilled across two of the three primary HEB targets for a total of 1,125.4m. No significant intersections were recorded.

YADD001: Drilled sedimentary marble breccia from surface to 298m, after which metamorphic basement rocks, primarily marble with some minor amphibolite was intersected to end of hole. KTDD001: Drilled sedimentary marble breccia from surface to 66m, after which metamorphic basement rocks, primarily marble with some minor amphibolite was intersected to end of hole. KTDD002: The BULGOLD team made a decision to change the orientation of drilling from the northeast to the northwest, which was the logical decision to make at this stage of the exploration programme.

Sedimentary marble breccia was intersected from surface to 91m, after which metamorphic basement rocks, primarily marble with some minor amphibolite was intersected to end of hole. Carbonate veinlets with bladed vein margins with either open space or full carbonate centres were intersected intermittently between 230-242m, 263-265 and 293-294m downhole; these veinlets were steeply dipping and trending 020-040°. One chalcedonic quartz vein was intersected between 237-238m downhole.

Operationally, core recovery was good and averaged 98.6% for the programme. Drilling rates were reasonable; however, due to the inherent fractured nature of the sedimentary marble breccias and marble basement rocks, water return was commonly lost at upper levels of the drill holes. This necessitated that the Company transport water to the drill sites, which were all located on the top of a mountain and, thus, contributed to additional cost pressures associated with the maiden drill programme.