KGL RESOURCES LIMITED — Capital/Financing Update 2009

Oct 26, 2009

ASX / MEDIA RELEASE

27 October 2009

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KENTOR GOLD LTD

ACN 082 658 080

Share Purchase Plan Raises $3.1 million

Kentor Gold Limited (ASX code: KGL) (Kentor or the Company) is pleased to announce that the Share Purchase Plan (SPP) offered to existing shareholders has raised approximately $3.1 million.

There will be no scale-back of applications and the new shares will be allotted and quoted on the ASX on 30[th] October 2009 with holding statements despatched on the same day.

Kentor Gold ’ s Managing Director, Simon Milroy, said the Company was extremely pleased with the level of support shown for the SPP and thanked shareholders for their ongoing commitment to Kentor Gold.

The capital raised will be used to fund progress on the Andash Gold Copper project, Savoyardy Gold Project and ongoing corporate costs.

About the Andash Project

The high grade, low cost project is targeted for production in 2011 at the average annual rate of 60,000 oz gold and 5,000 tonnes copper in concentrate for eight years.

Andash is located in the Tien Shan Gold Belt, one of the world ’ s major gold provinces spanning central Asia. Kentor is exercising an option to purchase an 80% interest in Andash.

Situated in the gold-rich Talas region, the Andash project will benefit from extensive existing infrastructure, including low cost power and an available workforce. The near-surface deposit has a proposed strip ratio of 0.8:1, and the ore is metallurgically simple to process.

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

About the Company:

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

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