KalNorth Gold Mines Limited (ASX: KGM) ('KGM' or 'Company') refers to its announcement dated 17 March 2021 for the sale of its Kurnalpi project to Northern Star (Carosue Dam) Pty Ltd ('NSCD''), a wholly owned subsidiary of ASX listed Northern Star Resources Limited (ASX: NST).

The Company confirms that completion of the $18 million sale took place yesterday and, following repayment of a $5.4 million loan advanced by NSCD (refer to 17 March 2021 announcement for further information in relation to the loan), associated loan interest and corporate advisory fees relating to the sale, a net amount of $12.2 million has been received by the Company.

PCF Capital Group acted as the Company's exclusive corporate advisor on the sale of the Kurnalpi Project to NSCD.

Contact:

Tel: +61 8 9021 8327

Web: www.kalnorthgoldmines.com

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