KGL RESOURCES LIMITED — Board/Management Information 2008

Mar 9, 2008

ASX / MEDIA RELEASE

==> picture [89 x 82] intentionally omitted <==

KENTOR GOLD LTD

ACN 082 658 080

10th March 2008

Kentor Gold Expands Kyrgyz Tenements and Appoints General Manager, Exploration

Highlights

• Mineral Exploration Licences granted by the Kyrgyz Republic at Chaarkuduk, Kurgan and a new extension to the Bashkol tenement.

• Geothermal energy Exploration Licence extended at Inylchek, in the Kyrgyz Republic.

• Mr Craig Irvine appointed General Manager, Exploration.

Kentor Gold Ltd (ASX Code: KGL) today announced the further expansion of its mineral and geothermal interests in the Kyrgyz Republic. The Company is also pleased to announce the appointment of Mr Craig Irvine as General Manager Exploration to assist in taking the expanded work program forward.

The Company’s local subsidiary CJSC Kentor (KGL 80%) has been granted Exploration Licences (EL) in two new locations, Chaarkuduk and Kurgan, and an extension to an existing tenement at Bashkol – all areas with known mineral occurrences (Figure 1).

Kentor Gold’s Managing Director Simon Milroy said minerals identified or defined through historical Soviet drill programmes across the new EL areas included: lead; zinc, copper; gold; and uranium.

“Kentor Gold has confidence that the techniques we applied to assessing historical data have provided us with highly prospective tenements,” Mr Milroy said.

“We believe that the Chaarkuduk licence has deposit styles similar to the Mississippi Valley Type (MVT) lead mineralisation.”

The Company is currently examining the historical Soviet data and is planning a geophysical and drilling campaign on the best targets as soon as possible.

Mr Milroy said the Company has also expanded its geothermal interest at Inylchek, in the Kyrgyz Republic.

“Test-work undertaken on the existing Inylchek tenements indicated a high possibility of hosting a world-class heat reservoir at a relatively shallow depth,” Mr Milroy said.

“The appointment of Mr Craig Irvine to the role of General Manager, Exploration will allow Kentor Gold to move quickly to further define deposits to take into production.”

Registered Office Level 36 Riparian Plaza, 71 Eagle St Brisbane 4000 Phone: 61 (0) 7 3121 3206

Kyrgyz Republic Office 235/2 Erkindik Prospect, Bishkek Kyrgyz Republic 720739 Phone: +996 312 621 389

1

www.kentorgold.com.au

ASX / MEDIA RELEASE

==> picture [89 x 82] intentionally omitted <==

KENTOR GOLD LTD

ACN 082 658 080

Chaarkuduk Exploration Licence

Kentor Gold Limited’s 80%-owned Kyrgyz subsidiary, CJSC Kentor, has been granted an Exploration Licence over 228 square kilometres in the Issykkul Oblast of the Kyrgyz Republic for lead, gold, and other metals.

There are seven known occurrences of minerals in the Chaarkuduk licence area (Figure 1). These include lead, copper, gold and uranium. The occurrences have been defined by varying amounts of surface mapping and sampling, exploration adits and limited amounts of diamond drilling.

The licence is considered prospective for Mississippi Valley Type (MVT) lead mineralisation with identified occurrences at Chaarkuduk, Karkara, Uchkashka South, Tash-Tyubin and Lower and Upper Tyup. Other mineral occurrences identified on the lease include gold in quartz veins at Uchkashka #2 and copper-gold anomalous soils at Kyzyljar.

The Company is currently examining historical Soviet data with a view to planning a geophysical and drilling campaign on the best targets at the earliest possible date.

Kurgan Exploration Licence

CJSC Kentor, has also been granted an Exploration License over 310 square kilometres for all minerals in the Jalalabad Oblast of the Kyrgyz Republic (Figure 1).

The license area is considered prospective for lead, zinc, silver and Carlin-type style of gold mineralization and contains a number of mineral occurrences which have previously been defined by work carried out during the Soviet era.

The existing data for the Kurgan licence area is currently being compiled into a geological database and it is expected that geophysics and drilling of the most promising target areas will take place in the second half of 2008.

Bashkol

CJSC Kentor has been re-issued the Bashkol Prospecting Licence with boundaries adjusted to include 2 uranium occurrences discovered by Soviet geologists in the 1950's, but unexplored since then. The two uranium occurrences are:

East Kuylyu

An occurrence of uranium, vanadium, and molybdenum noted by Soviet geologists but totally unexplored. In 1959 a Soviet party recorded the occurrence as two mineralised horizons of siliceous Cambrian-Ordovician carbonaceous shale. The mineralised horizons are described as having widths of 450 metres and 300 metres.

Kaindybulak

Another occurrence of uranium, vanadium, and molybdenum noted by Soviet geologists but totally unexplored. In 1953 a Soviet party recorded the occurrence as a stratiform horizon of siliceous Carboniferous carbonaceous shale. This stratiform horizon is described as two kilometres long and 100 metres wide.

2

ASX / MEDIA RELEASE

==> picture [89 x 82] intentionally omitted <==

KENTOR GOLD LTD

ACN 082 658 080

Field work is planned for this summer to further explore the potential for gold mineralization and follow-up the uranium occurrences on the Bashkol licence.

The parts of the previous Bashkol license that were covered by the Sarychat nature reserve have now been relinquished.

Kentor intends to send a field party to the area for reconnaissance as soon as weather conditions allow.

Inylchek Geothermal Energy Licence Extended

Test-work undertaken to date has indicated that the Inylchek geothermal energy Exploration Licence has a high possibility of hosting a world-class heat reservoir at a relatively shallow depth. Given these indications, an application was made to increase the size of the exploration licence. This has now been granted by the Kyrgyz Government.

The new licence area is known as Akshirak (Figure 1) and covers an area of 823 square kilometers.

Craig Irvine employed as General Manager, Exploration

Mr Craig Irvine commenced employment with Kentor Gold Limited on the 8th February 2008 as General Manager Exploration. Mr Irvine is a geologist with 20 years experience, including more than 10 years in various senior roles for a range of operational and development projects across geographically diverse regions.

Prior to his most recent position at Perilya Ltd’s Beltana Zinc Project, Mr Irvine’s experience has been primarily in gold and copper operations and development projects for companies including Newcrest Mining and Western Mining Corporation. Mr Irvine is a member of the Australian Institute of Mining and Metallurgy.

For further information contact:

Simon Milroy Managing Director Kentor Gold Ltd Phone: + 61 (0) 7 3121 3206 Mobile: + 61 (0) 448 851 575

3

ASX / MEDIA RELEASE

==> picture [89 x 82] intentionally omitted <==

KENTOR GOLD LTD

ACN 082 658 080

Figure 1. Map showing all granted licence areas in the Kyrgyz Republic

==> picture [478 x 260] intentionally omitted <==

Figure 2. Map showing Regional Geology of the Chaarkuduk Exploration Licence

==> picture [478 x 275] intentionally omitted <==

4

ASX / MEDIA RELEASE

==> picture [89 x 82] intentionally omitted <==

KENTOR GOLD LTD

ACN 082 658 080

Figure 3. Map showing known mineral occurrences on the Kurgan Exploration Licence

==> picture [478 x 295] intentionally omitted <==

Figure 4. Map showing known mineral occurrences on the re-issued Bashkol licence

==> picture [478 x 251] intentionally omitted <==

5

ASX / MEDIA RELEASE

==> picture [89 x 82] intentionally omitted <==

KENTOR GOLD LTD

ACN 082 658 080

This report is based on information compiled by Simon Milroy, who is a member of the Australasian Institute of Mining and Metallurgy and a full time employee of Kentor Gold Limited. Mr. Milroy has sufficient experience which is relevant to the style of the mineralisation and the type of deposit under consideration and to the activity to which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Milroy has consented to the inclusion of this information in the form and context in which it appears in this report.

6