Kula Gold Limited pleased to report this major change to the existing interpretations of the Ghooli Dome near Marvel Loch/Southern Cross, Western Australia. Kula's drilling and analysis by Senior Geologist, Melanie Hickman, has overturned 120 years of geological understanding that the Ghooli Dome is a granite (Mapped in pink -Figure 1) and of minimal geological interest. Kula's drilling (both in April 2021 and December 2021 ­ January 2022) is the first in this large tenement holding of 120km sq next to the Marvel Loch gold mine and mill, and demonstrates the clear geological potential of this area for: The Boomerang Kaolin Deposit was first discovered in July 2021, the Company then implemented a comprehensive drill program, within 12 months Kula has converted a discovery drillhole to a maiden resource of scale, this has now undergone further technical evaluation and has led to a startling conclusion that the host includes ultramafic, mafic and pegmatitic source rocks. Demonstrate same subtle features in the magnetics of other domes. Potential for these `domes' to be mineralised with: Gold, Copper-Nickel-PGE's, Lithium . pegmatites to be reanalysed from both lithium, caesium, and tantalum. Potentially need to work out which pegmatite intrusive event has lithium ­ correlate to the nearby Mt Weld and Mt Holland Deposits? In addition, the GSWA may need to recolour the geological maps in the areas around previously labelled domes from pink to green!. The deposit remains open laterally in all directions and logistics are exceptional, as indicated above, being
a sealed road through the tenement within 4km of the deposit, and the Marvel Loch townsite 5km, and rail siding at Southern Cross 43km. The Boomerang project team continue to work on the commercialisation process, metallurgical studies, and with consultants and regulators to progress the agreements and approvals required for any future development. Further details will be reported as material advancements are achieved.