KGL RESOURCES LIMITED — Capital/Financing Update 2009

Sep 17, 2009

18 September 2009

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KENTOR GOLD LTD

ACN 082 658 080

Successful Capital Raising

Kentor Gold Limited (ASX Code: KGL) is pleased to announce that it has successfully raised $2.0 million through a placement to institutional and sophisticated investors. Patersons Securities Limited acted as Lead Manager for the placement.

Details of the placement are as follows:

• 22.2 million new ordinary shares to be issued at a price of 9 cents each;

• 9 cents represents a 14.4% discount to the volume-weighted-average-price of Kentor Gold shares traded on the 5 days prior to the trading halt;

• New shares will rank equally with existing shares;

• Settlement on 22 September 2009;

• Expected date of quotation on ASX - 24 September 2009; and

• Made pursuant to Section 708 of the Corporations Act.

The issue of new shares pursuant to the placement was approved by shareholders at a General Meeting of shareholders held on 2 September 2009.

The Company is also pleased to provide an opportunity for its circa 900 shareholders to participate in the capital raising by undertaking a Share Purchase Plan ( “ SPP ” ). Under the SPP, shareholders will be able to apply for up to A$15,000 of new ordinary shares at an issue price of 9 cents. Full documentation relating to the SPP will be released shortly.

The funds raised from the placement and the SPP will be used to:

• Fund due diligence on the Andash Gold/Copper Project;

• Progress the update to the Andash feasibility study;

• Progress the development of the Savoyardy Gold Project; and

• For ongoing corporate costs.

For further information contact:

Mr Simon Milroy Managing Director Phone: +61 44 88 515 75 Email: info@kentorgold.com.au

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 considering the development of two gold mines in the Kyrgyz Republic.

• At Andash over which Kentor has an option to purchase an 80% interest, and

• At Savoyardy over which Kentor has an option to purchase 100% of the project.

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