Kula Gold Limited announced that as part of its strategy to prioritise the commercialisation studies at its 100% owned Boomerang Kaolin Project and exploration work at its other emerging projects at Westonia, Marvel Loch and Donnybrook, the Company has entered into a binding Farm-In Agreement (`Agreement') with Australian Critical Minerals Pty Ltd. in respect of the Company's non-core Rankin Dome Project comprising of three tenements being E77/2709, E77/2753 and E77/2768 (`Rankin Dome Project'). ACM can earn up to an undivided 51% interest in the Rankin Dome Project, subject to conditions precedent. ACM can earn Stage 1 through undertaking exploration and incurring exploration expenditure of $200,000, which shall include at least 2,000m of RC drilling, within 24 months of satisfying all the conditions precedent.

Following Stage 1, Kula and ACM will have formed a Joint Venture, where Kula will have the option to retain its 49% interest and contribute to the development of the Project.