KGL RESOURCES LIMITED — Capital/Financing Update 2008

Jun 16, 2008

ASX / MEDIA RELEASE

17 June 2008

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KENTOR GOLD LTD

ACN 082 658 080

Kentor Gold Intersects More High Grade Gold At Savoyardy

Highlights

Successful drilling at Savoyardy Gold project intersects excellent grade and widths in the first 2 holes completed and assayed including 9.4m @13.3 g/t Au and 5.5m @ 12.8 g/t Au.

Savoyardy Drilling Update

Kentor Gold Ltd (ASX Code: KGL) has encountered encouraging high grade gold intersects from the underground diamond drilling program at its flagship Savoyardy gold project in the Kyrgyz Republic. The Company expects further assay test results by early July.

Strong assay results from the first two holes this year of a 4,500 meter diamond drilling program include intersections of 9.4m @ 13.3 grams per tonne of gold (g/t Au) and 5.5m @ 12.8 g/t.

Kentor Gold Managing Director Simon Milroy said such positive results so early in the drill program are very pleasing and confirm the Company’s confidence in the Savoyardy project.

“The intersection contained consistent high gold grades corroborating nearby sampling conducted by Soviet geologists in the mid 1970’s,” Mr Milroy said.

“We anticipate more high-grade intersects as the program continues,” he said.

The first underground drill hole this year (SVD_UD_01) into Savoyardy has intersected 9.4m @ 13.3g/t Au in semi-massive to massive sulphide mineralisation, typical of the main lode mineralisation style.

The second underground drill hole (SVD_UD_02) has intersected 5.5m @ 12.8 g/t Au in the top section of the hole. Assays have not yet been received for the remainder of the hole. The thickness of the two intersections are approximately the true thickness of the mineralisation as shown on the cross section in Figure 1.

The drill rigs on site have now completed the first ten holes of this program, totalling 915m of drilling. The remaining core samples have been sent to the laboratory for assay with results expected in early July.

The company believes that the success of this drilling program will result in the issuing of a maiden JORC resource at the end of this calender year.

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. Majestic Gold Corporation announced a resource of 1.5Moz of gold from the results to date and exploration is continuing.

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

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www.kentorgold.com.au

Exploration trenches and adits constructed at Savoyardy in the 1970’s show the presence of high grade gold and antimony contained in a number of structures with widths of up to 27m.

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

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

Hole ID	Northing	Easting	Depth	Dip	Azimuth	From	To	Grade (g/t Au)
SVD_UD_01	4443649.60	446779.20	48.5	-20	130
						3.00	4.00	5.24
						4.00	5.00	6.32
						5.00	6.00	4.99
						6.00	6.40	3.43
						6.40	7.40	24.4
						7.40	8.40	10.9
						8.40	9.40	13.7
						9.40	10.40	13.7
						10.40	11.40	27.8
						11.40	12.40	16.8
						15.50	16.30	4.09
						45.60	46.60	5.52
SVD_UD_02	4443649.60	446779.20	107.00	-47	130
						2.80	3.10	3.60
						9.00	9.50	40.7
						9.50	10.20	28.0
						10.20	11.20	7.78
						11.20	12.20	7.34
						12.20	13.20	4.00
						13.20	14.50	8.51

For further information contact:

Media:

Mr Simon Milroy Anna O’Gorman Managing Director Principal Consultant – Three Plus Phone: (07) 3121 3206 or 0448 851575 Phone: (07) 3503 5700 Email: info@kentorgold.com.au Email: annao@threeplus.com.au

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Figure 1 Cross Section #2

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Competent Persons Statement:

The exploration results in this report are based on information compiled by Craig Irvine, who is a member of the Australian Institute of Mining and Metallurgy and a full time employee of Kentor Gold Limited. Mr. Irvine 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. Irvine has consented to the inclusion of this information in the form and context in which it appears in this report.

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