Bullabulling Gold Limited ADDITIONAL R&D TAX INCENTIVE CONFIRMED (2500K)

TIDMBGL

RNS Number : 2500K

Bullabulling Gold Limited

23 June 2014

23 June 2014 ASX Code: BAB, AIM Code: BGL

ADDITIONAL R&D TAX INCENTIVE CONFIRMED

Bullabulling Gold Limited (the Company) is pleased to report that the 31 December 2012 Research and Development Tax Incentive claims for its wholly owned subsidiaries Bullabulling Gold (UK) Ltd and Bullabulling Operations Pty Ltd have been processed by the Australian Taxation Office.

The Company has been advised that the proceeds, totaling $525,129, will be received shortly.

The Company's cash position has also benefitted following shareholder approval at last month's AGM for Non-Executive Directors to receive 50% of their director's fees in shares and for the Managing Director to subscribe for new shares. Approval was also granted for shares to be issued to contractors as part payment for drilling services.

Receipt of the R&D claim, together with cash at bank and on deposit as of today's date, would take the Company's cash holdings to $2.6 million.

For information, contact:

 
 Brett Lambert                    Westhouse Securities Limited 
  Bullabulling Gold Limited        (UK Broker & Nominated Adviser) 
  Level 2, 55 Carrington Street    Martin Davison / Hugo Rubinstein 
  Nedlands, WA, 6009, Australia    Tel: +44 20 7601 6100 
  Tel: +61 8 9386 4086 
-------------------------------  ----------------------------------------------- 
 Neil Boom                        John Gardner / Rupert Dearden 
  Gresham PR Ltd (UK media)        MAGNUS Investor Relations. Corporate 
  Tel: +44 7866 805 108            Communication. (Australian Media) 
                                   Tel: +61 8 6160 4900 
                                   jgardner@magnus.net.au rdearden@magnus.net.au 
-------------------------------  -----------------------------------------------

About Bullabulling Gold Limited

Bullabulling Gold Limited is listed on the Australian Securities Exchange (ASX:BAB) and London's AIM Market (AIM:BGL) and has approximately 350 million shares on issue. The Company's primary asset is the wholly owned Bullabulling Gold Project, located 60 kilometres west of Kalgoorlie in Western Australia.

The Bullabulling Gold Project hosts estimated Mineral Resources of 3.75 million ounces comprising Indicated Resources of 72.4 million tonnes at 0.98 g/t gold (2.28 million ounces) and Inferred Resources of 41.6 million tonnes at 1.11 g/t gold (1.47 million ounces). Exploration has demonstrated strong potential for further expansion of the resource base.

The Bullabulling deposit is amenable to bulk tonnage open pit mining and conventional CIL processing. All resources are situated on granted Mining Leases in close proximity to infrastructure.

The Company is conducting a definitive feasibility study into the development of a large scale, low cost mining operation at Bullabulling, scheduled for completion in Q1 2015.

Competent Person Statement

The information in this report that relates to the Exploration Results, Mineral Resources or Ore Reserves is based upon, and fairly represents, information and supporting documentation compiled by Mr Trevor Pilcher, who is a full time employee of the Company and is a member of The Australasian Institute of Mining and Metallurgy. Mr Pilcher has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and the activity in which he is undertaking to qualify as a Competent Person under 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Pilcher consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to the Exploration Results, Mineral Resources or Ore Reserves was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

This information is provided by RNS

The company news service from the London Stock Exchange

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