KGL RESOURCES LIMITED — Capital/Financing Update 2007

Nov 27, 2007

28[th] November 2007

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

KENTOR GOLD LTD ACN 082 658 080 Registered Office Level 3, 15 Queen Street, Melbourne Victoria 3000 Australia Phone: (03) 9621 1344 Email: info@kentorgold.com.au

Kyrgyz Republic Office 235/2 Erkindik Prospect, Bishkek Kyrgyz Republic 720739 Phone: +996 312 621 389 Email: kentor2@mail.kg

ASX Announcement

Savoyardy Drilling Update

Kentor Gold has received further assay results from diamond drilling at the Savoyardy gold project in Kyrgyzstan. The best new intersection came from hole SVD_PD_06 which intersected 4.2m at an average grade of 14.38 g/t Au .

The significant intersections are shown in Table 1.

The current surface drilling operations will now be suspended for the duration of the winter. It is expected that drilling from surface will recommence in April 2008.

The rehabilitation of an exploration adit is continuing. It is expected that drilling will commence from within the adit in March 2008. Drilling from underground will have a number of advantages over the surface drilling as it will be out of the winter conditions, will have better access and will allow the testing of a larger area of the mineralised structures using short drill holes.

Background

The Savoyardy Gold Project is located approximately 145 kilometres southeast of the city of Osh in the Kyrgyz Republic. The Savoyardy project is also adjacent to and along strike from Majestic Gold Corporation’s Sawayerdun Project in the Xinjiang Province of China (Figure 3). Majestic Gold Corporation has announced a resource of 1.5Moz of gold from the results to date and exploration is continuing.

Exploration trenches and adits constructed at Savoyardy in the 1970’s showed the presence of high grade gold and antimony contained in a number of structures with widths of up to 27 metres. The mineralised structures can be traced for over 7 kilometres to the south west along strike until they move off the Savoyardy exploration licence at the Chinese border.

Kentor Gold is earning a 70% interest in the Savoyardy Property from Perseus Mining Limited by spending US$6m before 2012.

1 of 5

www.kentorgold.com.au

Table 1 Table of Significant Intersections (Greater than 3 g/t Au)

								Grade
Hole ID	Northing	Easting	Depth	Dip	Azimuth	From	To	(g/t Au)
SVD-PD-03	4443728.20	446793.41	74.40	-70	130	50.00	50.65	5.39
SVD-PD-04	4443723	446806	69.70	-70	130	38.70	39.70	25.50
						39.70	40.60	15.50
						40.60	41.50	20.60
						41.50	42.50	39.80
						42.50	43.00	42.40
SVD-PD-05	4443711	446820	80.90	-70	130	30.00	30.50	7.12
						76.00	76.50	7.78
						77.00	77.50	3.34
SVD-PD-06	4443692	446837	74.30	-70	130	10.50	11.00	3.20
						37.50	38.10	6.96
						49.00	50.00	3.58
						52.00	53.00	3.27
						53.00	54.00	6.73
						54.00	54.70	8.85
						54.70	55.50	33.17
						55.50	56.20	25.16
SVD-PD-09	4443660	446774	99.00	-70	130	71.00	72.00	10.40
						78.00	79.00	29.60
						79.00	80.00	18.00
						80.00	81.00	13.60
						81.00	82.00	13.30
						82.00	83.00	25.20
						83.00	84.00	10.80
						84.00	85.00	18.50
						85.00	86.00	5.18
						86.00	87.00	15.90
						87.00	88.00	10.40
						88.00	89.00	9.57
						89.00	90.00	6.24
						90.00	91.00	12.40
						91.00	92.00	23.10
SVD-PD-10	4443652	446787	77.20	-70	130	20.00	21.00	11.70
						21.00	22.00	21.30
						74.00	75.00	5.02
						75.00	76.00	4.55

Note : Intersections in blue have been reported previously

2 of 5

www.kentorgold.com.au

Figure 1 Section along Line 1.

==> picture [468 x 530] intentionally omitted <==

3 of 5

www.kentorgold.com.au

Figure 2 Section along Line 2.

==> picture [468 x 568] intentionally omitted <==

4 of 5

www.kentorgold.com.au

Figure 3 Location Map

==> picture [441 x 465] intentionally omitted <==

This report is based on information compiled by Rudy Lennartz, who is a member of the Australian Institute of Mining and Metallurgy and a consultant to Kentor Gold Limited. Mr. Lennartz 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. Lennartz has consented to the inclusion of this information in the form and context in which it appears in this report.

For further information contact: Mr Simon Milroy Managing Director Phone: (03) 9621 1344 or 0448 851575 Email: info@kentorgold.com.au

5 of 5

www.kentorgold.com.au