The Directors of Zuleika Gold Limited announced the execution of a `Mineral Rights Acquisition Agreement' (Agreement) with Wingstar Investments Pty Ltd. (Wingstar) pursuant to which Zuleika is to acquire the Gold Rights of two highly prospective mining leases M29/417 and M29/418 located in the prolific Menzies District of Western Australia. The acquisition is consistent with the Company's objective to consolidate Zuleika's tenements in the prospective Menzies Gold Field, by increasing land holdings along the gold prospective granite/greenstone contact and in close proximity to the extensive gold deposit of the Menzies Green Stone belt. The acquisition followed the significant gold values received from Zuleika's auger sampling program last year. The consideration to be paid by Zuleika to Wingstar for the acquisition of the Gold Rights is 500,000 fully paid ordinary shares. Such shares to be held in voluntary escrow for a period of 6 months from their date of issue. The Agreement is subject to and conditional upon the satisfactory completion of due diligence by Zuleika and the parties obtaining all necessary regulatory approvals. If the conditions precedent are not satisfied (or waived by Zuleika) on the date that is 2 months from the date of execution of the Agreement, then the transaction constituted by the Agreement will be at an end. The Agreement will commence on the date of Settlement and continue for an initial period of 2 years (Initial Term). Wingstar has granted Zuleika the right to elect to extend the Initial Term by a further 2 year term (Second Term) by providing written notice to Wingstar. In the event that Zuleika elects to exercise its right to extend the Second Term, then Wingstar grants Zuleika the right to extend the Second Term by a further 2 year term (Third Term) by providing written notice to Wingstar. Zuleika can elect further extensions, in the same manner and for same extended 2 year period.