GEOPACIFIC RESOURCES LTD — Capital/Financing Update 2017

Dec 20, 2017

ASX Code: KGD 21 December 2017

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ASX Announcement & Media Release

Loan Facility Secured

Kula Gold Limited (ASX: KGD) (“ Kula ” or “ the Company ”) advises that Kula and Geopacific Resources Limited (ASX: GPR) (“ Geopacific ” or “ the Lender ”) entered into a Loan Facility Agreement (“ Loan Agreement ”) on 19 December 2017 on the following terms:

• The Loan Agreement provides for a loan of up to A$500,000 (“ Loan Facility ”). Funds will be made available on a draw down basis in accordance with an agreed budget for the purposes of working capital.

• The Loan Facility is unsecured and free from costs or interest.

• The Loan Facility matures 12 months after the date of the Loan Agreement or other such date agreed by the parties, repayable at the date of maturity.

• The loan is convertible at the Lenders election at market pricing, subject to obtaining all necessary regulatory approvals.

• The Lender’s may, at its election, set off all or a portion of the loan against the obligation under the Farmin Agreement to apply for a placement of $300,000.

This Loan Facility Agreement provides the Company with working capital for the next 12 months.

Contact:

For further information contact:

Mr. Garry Perotti Executive Director

Email: gperotti@kulagold.com.au Phone: +61 8 6143 5411

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