KGL RESOURCES LIMITED — Capital/Financing Update 2009

Nov 9, 2009

ASX / MEDIA RELEASE

10 November 2009

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KENTOR GOLD LTD

ACN 082 658 080

Mandate with Macquarie Bank Limited

Kentor Gold Ltd (ASX Code:KGL, the Company) is pleased to advise that it has entered into a Mandate Agreement with Macquarie Bank Limited (Macquarie). The Mandate appoints Macquarie to arrange a finance facility to fund Kentor ’ s purchase of 80% of the Andash Gold-Copper Project.

Under the terms of the mandate, Macquarie will conduct due diligence and seek internal approvals in order to provide Kentor with a binding offer for the finance facility.

The use of a loan is one of the financing options Kentor is considering to fund the acquisition of the Andash Project.

About Kentor Gold

Kentor Gold Limited (ASX Code: KGL) is an Australian-based company formed in 1998 as a specialist gold explorer. The Company was listed on the Australian Securities Exchange (ASX) in March 2005 and has diversified into exploration for gold, geothermal energy and base metals in Central Asia, where it has highly regarded, established local management.

Kentor is working towards the development of two gold mines in the Kyrgyz Republic:

• Andash, targeted for production in 2011 at the currently planned rate of 60,000 oz gold and 5,000 tonnes copper per year for eight years - and

• Savoyardy, proposed to commence in 2010 at the initial rate of 10,000 oz gold per year for a minimum three years subject to final decision later this year - Kentor has an option to purchase 100 per cent of the project.

For further information, visit the Kentor website at www.kentorgold.com.au or contact:

Mr Simon Milroy Managing Director Phone: (07) 3121 3206 or 0448 851575 Email: info@kentorgold.com.au

Mr David Waterhouse Investor Relations Ph (03) 9670 5008

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

Kyrgyz Republic Office 11-12/92 Kievskaya Street , Bishkek Kyrgyz Republic 720026 Phone: +996 312 660 280

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www.kentorgold.com.au