ASX Announcement

17 January 2013

APPOINTMENT OF CHIEF OPERATING OFFICER Directors David Frecker Independent Chairman and Non-Executive Director Lee Spencer Managing Director and CEO John Watkins

Executive Director and CFO

Louis Rozman

Non-Executive Director

Mark Stowell Independent Non- Executive Director

Kula Gold Limited (Kula Gold or the Company) is pleased to announce the appointment of Stuart Pether as Chief Operating Officer with effect from 4th February 2013.
As Chief Operating Officer, Mr Pether will play a key role in ensuring the successful development of Kula's Woodlark Island Gold Project, as the company makes the transition from explorer to producer.
A qualified mining engineer, Mr Pether has had an extensive career in the resources industry in project development, technical studies, mine operations and corporate management. Most recently he was the Vice President, Project Development for Evolution Mining and Chief Operating Officer for Catalpa Resources.
Managing Director's quote:
Managing Director of Kula Gold, Lee Spencer, commented: "This is an important new appointment as we head towards the development phase of our project, and I am delighted that Stuart has agreed to join the Company. He is a highly experienced engineer with exactly the right skill set, and will complement our existing management team well."
ASX Code: KGD
126.3 million ordinary shares
5.2 million unlisted options

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Background on Stuart Pether

Stuart has more than 23 years' resources industry experience in a range of operational, technical, consulting and corporate roles. He is equally skilled in open pit and underground mining in a range of commodities including gold, nickel and lead / zinc.
Previously Stuart was Chief Operating Officer of Catalpa Resources. During this time he was responsible for the construction, commissioning and operation of the $92 million Edna May Gold Project and represented Catalpa Resources on the Cracow Gold Mine Joint Venture committee with Newcrest Mining.
Following the merger of Catalpa Resources with Conquest Mining in November 2011, forming Evolution Mining, he took up the position of Vice President, Project Development where he was responsible for all technical studies and major capital projects, including the construction of the $140 million Mt Carlton Gold Project in Queensland.
Prior to that he worked in various mining management roles for CBH Resources, ran his own consulting firm including advising Ok Tedi Mining Limited in Papua New Guinea and did a three year international secondment to Vancouver, Canada as Manager, Resource Engineering for Teck Cominco.

Background: Woodlark Island Gold Project, PNG

Kula Gold Limited is developing the 100% owned Woodlark Island Gold Project, located 500 kilometres east of Port Moresby in the Milne Bay Province, Papua New Guinea.

For further information, contact:

Lee Spencer John Watkins
Chief Executive Officer Chief Financial Officer
Kula Gold Limited Kula Gold Limited
lspencer@kulagold.com.au jwatkins@kulagold.com.au

P. 02 9262 5651 P. 02 9262 5651

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Forward Looking Statements

All statements other than statements of historical fact included in this announcement including, without limitation, statements regarding future plans and objectives of Kula Gold Limited (Kula Gold) are forward-looking statements. When used in this announcement, forward-looking statements can be identified by words such as 'may', 'could',

'believes', 'estimates', 'targets', 'expects' or 'intends' and other similar words that involve risks and uncertainties.

These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the company, its directors and management of Kula Gold, that could cause Kula Gold's actual results to differ materially from the results expressed or anticipated in these statements.

The company cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. Kula Gold does not undertake to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by applicable law and stock exchange listing requirements.

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