Kula Gold Limited reported reconnaissance field mapping and sampling on a lithium and tantalum bearing pegmatite at its 100% owned Marvel Loch-Airfield Project, approximately 90km north of the hard rock Mt Holland Lithium Mine in Western Australia. Recent reconnaissance mapping and rock chipping has detected anomalous readings of 59.8ppm and 40.2ppm lithium and reading of 55.5ppm tantalum which is significantly above background of approximately 1-5ppm. As seen in Figure 2 and 3, a strong magnetic structure is adjacent to the anomalous rock chips.

A follow-up field mapping and rock chipping programme is scheduled for the next quarter. The binding Farm-In Agreement with Australian Critical Minerals Pty Ltd. has been granted an extension for 3 months to 30 June 2023 by mutual agreement.